Borrowing Base Utilization Percentage definition

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 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, and the denominator of which is the lesser of (a) the Borrowing Base in effect on such day and (b) the Aggregate Elected Commitment Amounts in effect on such day.

Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the balance of all Loans and the LC Exposure outstanding on such day, and the denominator of which is the Borrowing Base in effect on such day.

Examples of Borrowing Base Utilization Percentage in a sentence

• For the avoidance of doubt, once the Borrowing Base Utilization Percentage is less than or equal to 75%, the requirements of this Section 8.18 shall no longer apply, even if the Borrowing Base Utilization Percentage thereafter exceeds 75%.

• Pricing Grid (Section 2.05) I ³ 90% 275.0 bps 175.0 bps II ³ 75%< 250.0 bps 150.0 bps III ³ 50%< 225.0 bps 125.0 bps Each change in the Applicable Margin shall apply during the period commencing on the date of such change in the Borrowing Base Utilization Percentage and ending on the date immediately preceding the effective date of the next such change in the Borrowing Base Utilization Percentage.

• Borrowing Base Utilization Percentage (Effective Amount / Borrowing Base): 4.

• By: /s/ Xxxxx XxXxxxx Xxxxx XxXxxxx Chief Financial Officer as the Administrative Agent, as the Issuing Bank and as a Lender By: /s/ Xxxx Xxxxxxx Xxxx Xxxxxxx Director as a Lender By: /s/ Xxxx Xxxxxxx Xxxx Xxxxxxx Senior Vice President Pricing Level Borrowing Base Utilization Percentage Applicable Margin for Eurodollar Loans Applicable Margin for Base Rate Loans Applicable Percentage for Unused Commitment Fee I < 25% 2.50% per annum 1.50% per annum 0.

• Each Loan Party will not (a) amend, modify, restate or replace the Second Lien Documents as permitted by the terms of the Intercreditor Agreement or (b) prepay the outstanding loans under the Second Lien Credit Agreement at any time when an Event of Default has occurred and is continuing or at any time when, after giving effect to such prepayments, the Borrowing Base Utilization Percentage exceeds ninety percent (90%).

More Definitions of Borrowing Base Utilization Percentage

Borrowing Base Utilization Percentage means the ratio, expressed as a percentage, of the Aggregate Outstanding Credit Exposure to the Borrowing Base.

Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of (i) the aggregate Total Exposures of all Lenders on such day minus the aggregate principal amount of Superpriority Loans then outstanding, minus $120,000,000 and (ii) the aggregate amount of Pari Debt outstanding at such time, and the denominator of which is the Borrowing Base in effect on such day. minus the aggregate principal amount of Superpriority Loans then outstanding, minus $120,000,000.

Borrowing Base Utilization Percentage set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

Borrowing Base Utilization Percentage and "Commitment” set forth in Section 1.02 of the Original Credit Agreement shall be amended to read in their entirety as follows: "'Aggregate Commitments' at any time, means the sum of aggregate amount of the Commitments of all of the Lenders, as the same may be reduced, increased or terminated pursuant to Section 2.06.

Borrowing Base Utilization Percentage appearing in Section 1.02 is hereby deleted in its entirety.

Borrowing Base Utilization Percentage means as of any date of determination on or after the First Amendment Effective Date the ratio of the Effective Amount (as determined after giving effect to any Loan or prepayment scheduled to be made on such date) to the Conforming Borrowing Base then in effect.

Borrowing Base Utilization Percentage means the Tranche A Borrowing Base Utilization Percentage or the Tranche B Borrowing Base Utilization Percentage, as applicable.