Borrowing Base Review definition

Borrowing Base Review has the meaning assigned to such term in Section 5.12.
View Source
Borrowing Base Review a review, performed by the Agent or a designee of the Agent reasonably acceptable to the Borrower, which evaluates the Borrower's compliance with the reporting requirements under this Agreement applicable to the Borrowing Base, including, but not limited to, an examination of the Borrower's books and records relating to the Borrower's Accounts Receivable Value, Inventory Value, and Operating Machinery and Equipment Value.
View Source

Examples of Borrowing Base Review in a sentence

  • The Borrower agrees to, and shall cause each of its Restricted Subsidiaries to, modify or adjust the computation of the Borrowing Base (which may include maintaining additional reserves or modifying the eligibility criteria for the components of the Borrowing Base) to the extent reasonably required by the Agent or the Required Lenders as a result of any such Borrowing Base Review.

  • Subject to the terms of this Agreement, the Borrower agrees to, and shall cause each of its Subsidiaries to, modify or adjust the computation of the Borrowing Base (which may include maintaining additional Reserves or modifying the eligibility criteria for the components of the Borrowing Base) to the extent reasonably required by the Co-Collateral Agents or the Requisite Lenders as a result of any such Borrowing Base Review.

  • The Borrower agrees to, and shall cause each of its Restricted Subsidiaries to, modify or adjust the computation of the Borrowing Base (which may include maintaining additional reserves or modifying the eligibility criteria for the components of the Borrowing Base) to the extent reasonably required by the Collateral Monitoring Agent or the Required Lenders as a result of any such Borrowing Base Review.

  • The Agent shall be entitled to perform, at the Borrower's expense (i) an annual Borrowing Base Review, and (ii) an annual appraisal of the fixed assets of the Borrower.

  • The Borrower agrees to, and shall cause each of its Restricted Subsidiaries to, modify or adjust the computation of the Borrowing Base (which may include maintaining additional reserves or modifying the eligi- bility criteria for the components of the Borrowing Base) to the extent reasonably required by the Agent or the Required Lenders as a result of any such Borrowing Base Review.