Examples of Borrowing Bases in a sentence
The preceding sentence shall not derogate from the ability of the Borrowers to borrow under the Seasonal Facilities in excess of the Borrowing Bases in accordance with the terms of this Agreement.
At any time that the Administrative Agent reasonably requests, each Loan Party will, and will cause each Subsidiary to, permit, upon reasonable prior notice and during normal business hours, the Administrative Agent to conduct a field examination to ensure adequacy of Collateral included in the Borrowing Bases and related reporting and control systems.
At the time any Borrowing Base Certificate is delivered pursuant to this Agreement, each Account and each item of Inventory included in the calculation of each of the Borrowing Bases satisfies all of the criteria stated herein (or of which the Administrative Borrower has hereafter been notified by the Administrative Agent under Section 2.21) to be an Eligible Account and an item of Eligible Inventory, respectively.
For purposes of this Section 2.3(e)(i), the relevant Borrowing Bases will be determined as of each day by the Administrative Agent in connection with the calculation of the U.S. Usage and the Canadian Usage, as applicable, based upon the most recent Borrowing Base Certificate delivered by the Borrower Representative, subject to adjustment by the Administrative Agent in its Permitted Discretion in accordance with this Agreement.
If all or a portion of the expected remaining Pool Proceeds are not received in the Cash and Collateral Account on or before the time at which the Borrowing Base is first prepared on the next Business Day, the Gestation Mortgage Loans related to the expected remaining Pool Proceeds will remain in the Borrowing Bases as long as they remain eligible.