Calculated Borrowing Base definition

Calculated Borrowing Base means at any time an amount equal to the amount determined in accordance with Section 2.
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Calculated Borrowing Base and "Special Purpose Subsidiary" therein to read as follows: "Borrowing Base" in effect from time to time, from the date of the Third Amendment until the Acquisition Date, shall equal the excess, if any, of (a) the Calculated Borrowing Base over (b) the aggregate principal then outstanding on all Senior Unsecured Notes. The Borrowing Base in effect from time to time, after the Acquisition Date, shall equal the excess, if any, of (a) the Calculated Borrowing Base over (b) the sum of (1) the aggregate principal then outstanding on all Senior Unsecured Notes plus (2) the aggregate principal then outstanding on the EGB Notes.
Sample 1
Calculated Borrowing Base means at any time an amount equal to the amount determined in accordance with Section 2.08; provided that if any interest in the EEX Infrastructure Assets is sold or transferred to a third party or a Special Purpose Subsidiary, the Calculated Borrowing Base will be reduced by $30,000,000.
Sample 1

Examples of Calculated Borrowing Base in a sentence

  • Upon any redetermination of the Calculated Borrowing Base, such redetermination shall remain in effect until the next successive Redetermination Date.

  • During the period from and after the Closing Date until the next Redetermination Date, the amount of the Calculated Borrowing Base shall be $510,000,000.

  • Upon any redetermination of the Calculated Borrowing Base, such redetermination shall remain in effect until the next Redetermination Date.

  • During the period from and after the Closing Date until the next Redetermination Date, the amount of the Calculated Borrowing Base shall be $225,000,000.

  • The Administrative Agent shall not be liable for the accuracy of, or the methodology or procedures used by it in redetermining or proposing, any Calculated Borrowing Base.

  • So long as any of the Commitments is in effect or any Letter of Credit is outstanding and until payment in full of all Facility Obligations, the Calculated Borrowing Base shall be redetermined from time to time in accordance with Section 2.04(b) by the Administrative Agent with the concurrence of the Borrowing Base Approval Lenders.

  • So long as any of the Commitments is in effect or any Letter of Credit is outstanding and until all of the Facility Obligations are paid in full, the credit facilities provided herein shall be governed by the then effective Calculated Borrowing Base.

Related to Calculated Borrowing Base

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

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

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

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

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

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • 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.

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

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

  • 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 Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • 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.

  • Borrowing Base Amount means:

  • Canadian Base Rate means at any time, the greater of (a) the Canadian Prime Rate and (b) except during any period of time during which a notice delivered to Centuri under Section 5.8 shall remain in effect, the annual rate of interest equal to the sum of (i) the CDOR Rate for an Interest Period of one month at such time plus (ii) one percent (1%) per annum; each change in the Canadian Base Rate shall take effect simultaneously with the corresponding change or changes in the Canadian Prime Rate or the CDOR Rate, as applicable.

  • Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrowers to maintain Availability at least equal to the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

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

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

  • Consolidated Total Borrowings means in relation to the Group, an amount (expressed in Singapore dollars) for the time being, calculated on a consolidated basis, in accordance with generally accepted accounting principles in Singapore, equal to the aggregate of:

  • 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.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

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

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.