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 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.

  • If Borrower does not affirmatively exercise this option during an Option Period, the Borrowing Base and Borrowing Cap shall each be the amount previously designated by Administrative Agent.

  • Any election by Borrower of a reduced Borrowing Base and Borrowing Cap shall continue in effect until the next date as of which the Borrowing Base and Borrowing Cap are redetermined.

  • Borrower may repay advances and may reborrow from time to time under the Revolving Note, but total advances outstanding under the Revolving Note plus Letters of Credit Outstanding shall not exceed the lesser of (a) $5,500,000 or (b) the sum of (i) 80 percent of Eligible Accounts, plus (ii) the lesser of (x) the Inventory Borrowing Cap or (y) 50 percent of the remainder of Eligible Inventory, less all trade payables owed to inventory vendors.

  • Borrower and the Guarantors are entering into the Security Agreement, Control Agreements, Pledge Agreements and Mortgages as consideration for the Lenders entering into this Amendment and agreeing to make Loans and issue Facility L/Cs up to the Borrowing Cap and to secure such Loans and Facility L/Cs up to the Borrowing Cap and all other Obligations under the Loan Documents.

  • After the Inventory Borrowing Cap Reduction Date, the applicable rate of interest shall be based on Borrower's Tangible Net Worth as set forth below in the following schedule.

  • The maximum principal amount of short-term borrowings outstanding at any time by the Ineligible Rule 52 Subs (whether pursuant to the Money Pool, Bank loans or, in PSI's case, sales of commercial paper) would not exceed the following amounts (each, a "Borrowing Cap"): PSI, $600 million; ULH&P, $65 million; Lawrenceburg, $5.5 million; and Miami, $100,000.

  • To exercise such option, Borrower must within an Option Period send notice to Administrative Agent of the reduced amount of the Borrowing Base and Borrowing Cap chosen by Borrower at least 3 Business Days prior to the effective date of any such Borrowing Base and Borrowing Cap reduction.

  • Additionally, at the request of the Borrower, the Borrowing Cap may be increased with the consent of the Required Lenders, but may not be increased to an amount greater than the Revolving Committed Amount in effect on the Third Amendment Effective Date.

  • After giving pro forma effect to the Applicable Transfer, including the Assumption of the Allocated Loans, all Loans then outstanding to each of TWIC and TWEAN shall not exceed such Borrower's Borrowing Cap and the limitations set forth in the proviso of Section 2.1.


More Definitions of Borrowing Cap

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 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 $62,100,000.
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Borrowing Cap shall have the meaning set forth in Section 2.1(a)."
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Related to Borrowing Cap

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • 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 equal to the sum of the Dollar Equivalent of, without duplication:

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

  • Canadian Borrowing means a borrowing consisting of simultaneous Canadian Loans of the same Type and, in the case of BA Equivalent Loans or LIBO Loans, having the same Interest Period made by each of the Canadian Lenders pursuant to Section 2.3.

  • 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 lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

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

  • 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 Term Loans made on the same day by the Term Loan Lenders ratably according to their respective Term Loan Commitments.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of 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, (i) for any Eligible Loan Asset, an amount equal to the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time and (ii) for any Loan Asset that is not an Eligible Loan Asset, zero.

  • Minimum Borrowing Amount means (i) for Revolving Loans $1,000,000 and (ii) for Swingline Loans, $100,000.

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

  • Initial Borrowing means the first Borrowing by the Borrower under this Agreement.

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

  • Term B Borrowing means any Borrowing comprised of Term B Loans.

  • 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:

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).