Canadian Borrowing Base definition

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

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Canadian Borrowing Base means, as of any date of calculation, the amount calculated consistent with the Borrowing Base Certificate most recently delivered to the Administrative Agent hereunder equal to:

Canadian Borrowing Base as of any date of determination, the result of, in each case using the Dollar Equivalent of all amounts in Canadian Dollars:

Examples of Canadian Borrowing Base in a sentence

• Each Borrowing Base Certificate shall set forth the calculation of the U.S. Borrowing Base in Dollars and of the Canadian Borrowing Base in the Dollar Equivalent.

• The Canadian Borrowing Base shall set forth the calculation of the Canadian Borrowing Base in both Canadian Dollars and the Dollar Equivalent thereof along with the Exchange Rate used to determine such Dollar Equivalent.

• If the aggregate Canadian Revolver Loans exceed the Canadian Borrowing Base (a “Canadian Overadvance”) at any time, the excess amount shall be payable by Canadian Borrower on demand by Agent, but all such Canadian Revolver Loans shall nevertheless constitute Canadian Facility Obligations secured by the Canadian Facility Collateral.

• The Administrative Agent shall have received a Borrowing Base Certificate which calculates the U.S. Borrowing Base and the Canadian Borrowing Base as of February 26, 2017.

• Each Applicable Lender shall timely honor its Facility Commitment by funding its Pro Rata share of each Borrowing of Revolver Loans under such Facility Commitment that is properly requested hereunder; provided, however, that no Lender shall be required to honor its Facility Commitment by funding its Pro Rata share of any Borrowing that would cause the U.S. Revolver Exposure to exceed the U.S. Borrowing Base or the Canadian Revolver Exposure to exceed the Canadian Borrowing Base, as applicable.

More Definitions of Canadian Borrowing Base

Canadian Borrowing Base means the Dollar Equivalent sum of the following as set forth in the most recently delivered Canadian Borrowing Base Certificate:

Canadian Borrowing Base means, at any time, with respect to the Canadian Loan Parties, the sum of:

Canadian Borrowing Base means, with respect to the Canadian Loan Parties at any time, subject to the Eligibility Adjustment Principles and Borrowing Base Acquisition Adjustment Principles, the amount (expressed as a U.S. Dollar Equivalent amount) equal to:

Canadian Borrowing Base means, at any time, an amount equal to (a) 70% of the Eligible Canadian Accounts at such time, plus (b) 50% of the Eligible Canadian Inventory, valued at the lower of cost or market value, determined on a basis consistent with the Canadian Loan Parties’ historical accounting practices, at such time, minus (c) the aggregate amount of all Canadian Priority Payables of the Canadian Loan Parties.

Canadian Borrowing Base means, as of any date of determination, the result of:

Canadian Borrowing Base means, as of any date of determination, from time to time, as to the Canadian Credit Parties, an amount equal to the aggregate Dollar Equivalent of the sum at such time of:

Canadian Borrowing Base means, as of any date of determination thereof, without duplication, an amount equal to the sum of: