Borrowing Base Trigger Date definition

Borrowing Base Trigger Date shall have the meaning provided in Section 10.10(a).
Sample 1Sample 2Sample 3
Borrowing Base Trigger Date means the first date on or after the Closing Date upon which Borrower requests either a Line of Credit Advance or the issuance of a Letter of Credit that would cause, after giving effect to such Line of Credit Advance or Letter of Credit, the sum of the outstanding principal balance of the Line of Credit Advances plus the L/C Amount to equal or exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00).
Sample 1Sample 2Sample 3
Borrowing Base Trigger Date means the date on which any of (a) Excess Availability is less than $12,000,000 for the third consecutive Business Day, or (b) Consolidated Adjusted EBITDA, for the 12 month period ending on the last day of any month is less than $50,000,000.
Sample 1

Examples of Borrowing Base Trigger Date in a sentence

  • In addition, at any time on or after the Borrowing Base Trigger Date, each Borrower agrees to use commercially reasonable efforts in cooperation with Agents to facilitate and implement a system of electronic collateral reporting in order to provide electronic reporting of each of the items set forth on such Schedule.

  • Should a part or whole of services covered by this order be delayed in performance due to reasons of Force Majeure which shall include Lock-outs, strikes, riots, civil commotions, fire accidents, acts of God and war, stoppage of deliveries by Government, refusal of or non-receipt of import license for import items, the delivery period referred in their order shall be extended by a period(s) not in excess of duration of such Force Majeure.

  • In addition, at any time on or after the Borrowing Base Trigger Date, Borrower agrees to use commercially reasonable efforts in cooperation with Agent to facilitate and implement a system of electronic collateral reporting in order to provide electronic reporting of each of the items set forth on such Schedule.


More Definitions of Borrowing Base Trigger Date

Borrowing Base Trigger Date means the Business Day following the Closing Date on which the Borrowing Base is first determined and becomes effective pursuant to Section 2.9.
Sample 1
Borrowing Base Trigger Date means the date set forth in a written notice by Agent to Borrower and identified as the "Borrower Base Trigger Date", which date shall be on or after any date that Borrower fails to maintain Excess Availability of at least the Applicable Excess Availability Amount.
Sample 1
Borrowing Base Trigger Date shall have the meaning provided in Section 10.10(a). “Borrowing Base Trigger Event” shall mean the public announcement by Xxxxx’x or S&P that its Credit Rating is B1 or lower from (or is unrated by) Xxxxx’x or B+ or lower (or is unrated by) from S&P; provided, however, that if one of the Credit Ratings is B1 or B+, as applicable (but not lower than B1 or B+), and the other Credit Rating is BB or Ba2 or higher, as applicable, a Borrowing Base Trigger Event shall not have occurred.
Sample 1
Borrowing Base Trigger Date. “First Scheduled Redetermination Date”, “Immaterial Subsidiary”, “Increasing Lender”, “Increasing Revolving Lender”, “Increasing Term Loan Lender”, “Incremental Agreement”, “Incremental Increase”, “Maximum Aggregate Amount”, “Restricted Foreign Subsidiary”, “Restricted Subsidiary”, “Revolving Incremental Increase”, “Term Loan Incremental Increase”, and “Unrestricted Subsidiary”.
Sample 1

Related to Borrowing Base Trigger Date

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR = 62%.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • 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 Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Concentration Reserve Percentage means, at any time of determination, the largest of: (a) the sum of the five (5) largest Obligor Percentages of the Group D Obligors, (b) the sum of the three (3) largest Obligor Percentages of the Group C Obligors, (c) the sum of the two (2) largest Obligor Percentages of the Group B Obligors and (d) the largest Obligor Percentage of the Group A Obligors.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.