Borrowing Excess definition

Borrowing Excess means, at any time, the amount by which any of the limitations of Section 2.1 is exceeded.
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Borrowing Excess means, at any time, the amount by which any of the limitations of SECTION 2.1 are exceeded.
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Borrowing Excess. Exists on any day on which the Advances Outstanding for such day exceeds the Borrowing Base for such day.
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Examples of Borrowing Excess in a sentence

  • Co-Borrowers shall, on demand when any Borrowing Excess exists, prepay the appropriate Principal Debt (together with any related Funding Loss) or take any other actions in accordance with this agreement necessary to eliminate the Borrowing Excess and any accrued unpaid interest thereon.

  • If no Event of Default or Potential Default exists, and no Borrowing Excess exists or would occur (after taking into account any corresponding payment on the Obligation) as a result of the release, Co-Borrowers may, by a Release Request delivered to Administrative Agent by 11:00 a.m. on the Business Day of the release, request that Administrative Agent release the Lender Liens on any Collateral.

  • Within five days after any Borrowing Excess --------------------- occurs, Borrower shall make a mandatory prepayment of Principal Debt necessary to eliminate that Borrowing Excess, which shall, if applicable, be applied to installments of Principal Debt of the Term Loan or the term portion of the Revolving Facility, as the case may be, in inverse order of maturity.

  • For purposes of effecting Dispositions or if the --------- Borrowing Base is in excess of Advances Outstanding, so long as there is no Potential Termination Event or Termination Event hereunder, the Borrower may obtain releases of a Lender's security interest in all or any part of the Collateral and from time to time, to the extent that (immediately after giving effect to any requested release) there exists no Borrowing Excess and there is no Potential Termination Event or Termination Event.

  • If on any Business Day the Deal Agent shall notify the Borrower of any Borrowing Excess or the Borrower shall notify the Deal Agent of the same, the Borrower shall deposit the amount of such Borrowing Excess in the Collection Account by 11:30 a.m. not later than the third (3rd) Business Day following the date of such notice.

  • If no Default or Potential Default exists and no Borrowing Excess exists or would occur (after taking into account any corresponding payment on the Obligation) as a result of the release, Borrower may, by a Release Request delivered to Administrative Agent by 11:00 a.m. on the Business Day of the release, request that Administrative Agent release the Lender Liens on any Collateral.

  • Borrower (a) shall, on demand when any Borrowing Excess ----------- exists, prepay the appropriate Principal Debt or take any other actions in accordance with this agreement necessary to eliminate the Borrowing Excess, and (b) may otherwise voluntarily prepay any of the Obligation at any time without premium or penalty.

  • If no Default or Potential Default exists and no Borrowing Excess exists or would occur (after taking into account any corresponding payment on the Obligation) as a result of the release, Borrower may -- by a Release Request delivered to Agent by 11:00 a.m. on the Business Day of the release -- request that Agent release the Lender Liens on any Collateral.

  • If no Default or Potential Default exists and ----------------- no Borrowing Excess exists or would occur (after taking into account any corresponding payment on the Obligation) as a result of the release, Borrower may (by a Release Request delivered to Agent by 11:00 a.m. on the Business Day of the release) request that Agent release the Lender Liens on any Collateral.

  • Within five days after any Borrowing Excess ------------------ occurs, Borrower shall make a mandatory prepayment of Principal Debt necessary to eliminate that Borrowing Excess, which shall, if applicable, be applied to installments of Principal Debt of the Term Loan or the term portion of the Revolving Facility, as the case may be, in inverse order of maturity.


More Definitions of Borrowing Excess

Borrowing Excess. For any date, as disclosed in the most recently submitted Borrower Notice or Monthly Report, the amount, if any, by which the aggregate outstanding principal balance of the Advances as of such date exceeds the lesser of (i) the Program Amount and (ii) the Borrowing Base.
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Borrowing Excess means, for any date, as disclosed in the most ---------------- recently submitted Borrowing Base Certificate, the extent to which the then Advances Outstanding exceeds the Availability as of such date.
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Borrowing Excess means, at any time, the amount by which the Principal Debt exceeds the Borrowing Base.
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Borrowing Excess means, for any date, as disclosed in the most
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Related to Borrowing Excess

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • borrowing rate means the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit drawn down;

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

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

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

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

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • 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.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Revolving Advance has the meaning given in Section 2.1.

  • 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).

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

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Incremental Term Borrowing means a Borrowing comprised of Incremental Term Loans.

  • 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.

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

  • Letter of Credit Borrowing shall have the meaning set forth in Section 2.12(d).

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

  • 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.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

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

  • Maximum Revolving Advance Amount means $30,000,000.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

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