Borrowing Cap definition

Borrowing Cap means, at any time the same is determined (including, at the option of the Administrative Agent, daily computations of the value of Eligible Commodities and Hedging Value of all Hedging Agreements), an amount equal to the sum of:
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Borrowing Cap means, the amount, calculated at any date, equal to the result of (a) the lesser of (i) the Aggregate Revolving Commitment Amounts and (ii) the Borrowing Base, in each case, in effect at such time, minus (b) the Availability Block.
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Borrowing Cap means, on any date of calculation, (x) prior to the making of the Term Loan, the amount, equal to the lesser of (a) the aggregate Term Loan Commitments and (b) the Borrowing Base, in each case, in effect at such time and (y) after the making of the Term Loan, the amount equal to the lesser of (A) the aggregate Term Loan Outstandings and (B) the Borrowing Base (or Borrowing Base II, if then applicable), in each case, in effect at such time.
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Examples of Borrowing Cap in a sentence

  • The Committee received a report setting out performance in Quarter 1 2019/19 for the key measures of success and projects relevant to this Committee.The following was discussed: Delivering new homes - Removal of the Housing Revenue Borrowing Cap A Member referred a letter sent by the Secretary of State for Housing, Communities and Local Government to local authorities setting out proposals for the removal of the Housing Revenue Borrowing Cap.

  • The Director (BA) clarified that there was no further information required from the Government on the implications of the lifting of the HRA Borrowing Cap.

  • This council calls on the Chancellor of the Exchequer to use the opportunity of the forthcoming budget to remove the Housing Revenue Borrowing Cap that needlessly prevents the council building new homes to address the dire shortage of social housing in the city.

  • The Director for Regeneration, Culture, Environment and Transformation and Deputy Chief Executive confirmed receipt of the letter and advised that at this stage, the Government was sharing with local authorities the process that it planned to follow for the removal of the Housing Revenue Borrowing Cap.

  • Any termination or reduction of the Total Commitment or a Borrowing Cap shall be permanent.

  • If the unpaid balance of the amount loaned hereunder should exceed the Borrowing Cap or any other limitation set forth in this Note, such amount shall nevertheless constitute obligations that are secured by the Collateral (as defined in the Security Agreement) and entitled to all benefits thereof.

  • Comcast suggested that the fee or penalty reflect five years of back rent in order for the penalty to bear some relation to the economic harm suffered by the pole owner.

  • It will encompass the recent changes to legislation and government policy, such as the lifting of the HRA Borrowing Cap, removal of High Value Void Sales, and an end to the 1% Rent Reduction.

  • Reforms to the Housing Revenue Account Borrowing Cap 2.1 In his Autumn Statement in December 2013, the then Chancellor of the Exchequer, George Osborne announced that he would provide councils with another £300m of HRA borrowing headroom to help Councils build 10,000 additional affordable homes.

  • The Holder shall make advances to the Borrower from time to time in accordance with and subject to the terms hereof, up to a maximum principal amount at any time outstanding equal to the Borrowing Cap reduced by the amount of all prior advances at such time.


More Definitions of Borrowing Cap

Borrowing Cap shall have the meaning set forth in Section 2.1(a)."
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Borrowing Cap set forth in Section 5.1 of the Credit Agreement shall be and hereby is amended by deleting the term “minus” at the end of clause (v) and inserting in its place the term “plus”, and amending and restating clause (vi) and immediately thereafter inserting a new clause (vii), each to read in their entirety as follows:
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Borrowing Cap means, (i) with respect to TWE, $7.5 billion, (ii) with respect to TWEAN, $2.0 billion and (iii) with respect to each other Borrower, (x) prior to the Diamond Implementation, $4.0 billion and (y) at or after the Diamond Implementation, $6.0 billion, in each case, as such amount may be reduced from time to time pursuant to Section 2.7.
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Borrowing Cap means $62,100,000.
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Related to Borrowing Cap

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Working Capital Borrowings means borrowings incurred pursuant to a credit facility, commercial paper facility or similar financing arrangement that are used solely for working capital purposes or to pay distributions to the Partners; provided that when such borrowings are incurred it is the intent of the borrower to repay such borrowings within 12 months from the date of such borrowings other than from additional Working Capital Borrowings.

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

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

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

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

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Total Borrowings means, in respect of the Corporation on a consolidated basis, as of a given date, the aggregate of the following, without duplication:

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Adjusted Borrowing Value means, on any date of determination, for any Eligible Loan Asset, an amount equal to the lower of (a) the Outstanding Balance of such Eligible Loan Asset at such time and (b) the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time. Notwithstanding the foregoing, the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset at such time shall be zero.

  • Minimum Borrowing Amount means (i) for Revolving Loans, $5,000,000, and (ii) for Swingline Loans, $1,000,000.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to: