Borrowing Base Statement definition

Borrowing Base Statement is that certain report of the value of certain Collateral in the form specified by Bank to Borrower from time to time.
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Borrowing Base Statement is that certain statement of the value of certain Collateral in the form specified by Bank to Borrower from time to time. “Borrowing Resolutions” are, with respect to any Person, those resolutions adopted by such Person’s board of directors (and, if required under the terms of such Person’s Operating Documents, stockholders) and delivered by such Person to Bank approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate executed by its secretary on behalf of such Person certifying (a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that set forth as a part of or attached as an exhibit to such certificate is a true, correct, and complete copy of the applicable resolutions then in full force and effect authorizing and ratifying the
Sample 1
Borrowing Base Statement is that certain statement of the value of certain Collateral in the form attached hereto as Exhibit E, or as specified by Lender to Borrower from time to time, which shall include, at a minimum, a detailed ledger of all Eligible Accounts, including the age of each Eligible Account, and the calculation of the Borrowing Base. “Borrowing Resolutions” are those resolutions adopted by Xxxxxxxx’s Board (and, if required under the terms of Borrower’s Operating Documents, stockholders or members) and delivered by Borrower to Lender approving this Agreement and the other Loan Documents and the transactions contemplated thereby, together with a certificate executed by its secretary on behalf of Borrower certifying (a) Borrower has the authority to execute, deliver, and perform its obligations under this Agreement and each of the Loan Documents to which it is a party, (b) that set forth as a part of or attached as an exhibit to such certificate is a true, correct, and complete copy of the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by Borrower of this Agreement and the other Loan Documents to which it is a party, (c) the name(s) of the Person(s) authorized to execute this Agreement and the other Loan Documents, including requesting and executing any Credit Extension, on behalf of Borrower, together with a sample of the true signature(s) of such Person(s), and (d) that Lender may conclusively rely on such certificate unless and until Borrower shall have delivered to Lender a further certificate canceling or amending such prior certificate. “Business Day” is any day that is not a Saturday, Sunday or a day on which the commercial banks in Denver, Colorado are authorized or required by law or regulation to close. “Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Xxxxx’x Investors Service, Inc.; (c) Lender’s certificates of deposit issued maturing no more than one (1) year after issue; and (d) money market funds at least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. “Change in Contro...
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Examples of Borrowing Base Statement in a sentence

  • In connection with any such notification, Borrower shall deliver to Bank by electronic mail or through Bank’s online banking program such reports and information, including without limitation, a Borrowing Base Statement, sales journals, cash receipts journals, accounts receivable aging reports, accounts payable aging reports, as Bank may reasonably request.


More Definitions of Borrowing Base Statement

Borrowing Base Statement is that certain statement of the value of certain Collateral in the form specified by Bank to Borrower from time to time. “Borrowing Resolutions” are, with respect to any Person, those resolutions adopted by such Person’s board of directors (and, if required under the terms of such Person’s Operating Documents, stockholders) and delivered by such Person to Bank approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate executed by its secretary on behalf of such Person certifying (a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that set forth as a part of or attached as an exhibit to such certificate is a true, correct, and complete copy of the applicable resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to which it is a party, (c) the name(s) of the Person(s) authorized to execute the Loan Documents, including making (and executing if applicable) any Credit Extension request, on behalf of such Person, together with a sample of the true signature(s) of such Person(s), and (d) that Bank may conclusively rely on such certificate unless and until such Person shall have delivered to Bank a further certificate canceling or amending such prior certificate.
Sample 1
Borrowing Base Statement. “Cash Collateral Account”; “CLIN”, “Eligible Accounts”; “Eligible Purchase Orders”; “Liquidity”; “Reserves”; “Streamline Balance”; “Streamline Period”.
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Related to Borrowing Base Statement

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: Advance Rate = 55%.

  • Borrowing Base Certificate means a certificate of a Financial Officer of the Borrower, substantially in the form of Exhibit B or such other form as is reasonably acceptable to the Administrative Agent and appropriately completed.

  • Borrowing Base means, as of any date of determination, the result of:

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Borrowing Base Amount means:

  • CREFC® Total Loan Report The report in the “Total Loan Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Operating Statement Analysis Report The monthly report in the “Operating Statement Analysis Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Borrowing Base Properties means the Oil and Gas Properties of the Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • CREFC® Loan Level Reserve/LOC Report The monthly report in the “CREFC® Loan Level Reserve/LOC Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Total Loan Report format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Reconciliation Report refers to the Reconciliation Report as referenced in s. 1 of Reg 200/21 under Connecting Care Act, 2019.

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • CREFC® Advance Recovery Report A monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “Advance Recovery Report” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Loan Liquidation Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Liquidation Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.