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

  • 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.

  • 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 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.

  • 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 there is a Borrowing Excess, the Borrower must repay, in accordance with the procedures set forth in Sections 6.02(a)(iii) and 6.04(a)(iii)(E), Advances Outstanding to the level of the new Availability.

  • Prior to and after giving effect to such Borrowing, Excess Availability shall be at least equal to the lesser of (a) ten percent (10%) of the then Borrowing Base and (b) ten percent (10%) of the Total Commitments, provided that Excess Availability shall, in no event, be less than (A) $60,000,000 (at any time from and including January 1 of any year to and including August 31 of such year) or (B) $75,000,000 (at any time from and including September 1 of any year to and including December 31 of such year).

  • 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.

  • Lender has agreed to extend those Borrowings subject to the terms and conditions of the Loan Documents, including, without limitation, that the total Borrowings may never exceed the then-applicable Commitment and that a Borrowing Excess may never exist.

  • The Advances shall be repaid as and when necessary, as set forth in Sections 6.3 and 6.4, to eliminate any Borrowing Excess.

  • Insurance companies are facing unprecedented exposure to financial risks in addition to traditional mortality and longevity risks.


More Definitions of Borrowing Excess

Borrowing Excess means, at any time, the amount by which any of the limitations of SECTION 2.2 are exceeded.
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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, 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 ---------------- 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, for any date, as disclosed in the most
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Borrowing Excess means, at any time, the amount by w1iich any OF the limitations of SECTION 2.1 is exceeded.
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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 Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

  • Pro-Rata Borrowing has the meaning assigned to such term in Section 2.03(a).

  • 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 means any Credit Extension resulting from a drawing under any Letter of Credit that has not been reimbursed or refinanced as a Borrowing of Revolving Loans.

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

  • Canadian Borrowing means a Borrowing of Canadian Loans.

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

  • 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 $25,000,000.