Class A Borrowing Base Deficiency definition

Class A Borrowing Base Deficiency means, as of any day, the amount, if any, by which the Total Utilization of Class A Revolving Commitments exceeds the Class A Borrowing Base.

Class A Borrowing Base Deficiency means, on any date of determination, the positive excess, if any, of (a) the Class A Advances Outstanding as of such date, over (b) the sum of (i) all amounts on deposit in the Concentration Account as of such date, (ii) all amounts on deposit in the Collection Account (exclusive of the Interest Reserve Amount) as of such date and (iii) the Aggregate Advance Amount in respect of the Class A.

Class A Borrowing Base Deficiency shall have the meaning set forth in Section 2.9.

Examples of Class A Borrowing Base Deficiency in a sentence

• After giving effect to such Advance, there should not exist a Class A Borrowing Base Deficiency, Class B-I Borrowing Base Deficiency or a Class B-II Borrowing Base Deficiency.

• A Class A Borrowing Base Deficiency or, during the Availability Period, a Class B-I Borrowing Base Deficiency, a Class B-II Borrowing Base Deficiency or Class B Aggregate Borrowing Base Deficiency continues for more than two (2) Business Days.

• After giving effect to such Advance, there should not exist a Class A Borrowing Base Deficiency or a Class B Borrowing Base Deficiency.

• A Class A Borrowing Base Deficiency or, during the Availability Period, a Class B Borrowing Base Deficiency continues for more than two (2) Business Days.

• The Borrower will not sell any Receivables or other Collateral related thereto if, following such sale, a Class A Borrowing Base Deficiency, a Class B Borrowing Base Deficiency or a Facility Advance Cap Deficiency would exist after giving effect to the application of proceeds of such sale; provided that the foregoing shall not prohibit a foreclosure sale by or on behalf of the Lenders upon the occurrence of an Event of Default.

More Definitions of Class A Borrowing Base Deficiency

Class A Borrowing Base Deficiency means, as of any date of determination, the positive excess, if any, of the Class A Invested Amount over the Class A Borrowing Base, after application of funds, if any, by the Administrative Agent in reduction of the Class A Invested Amount as contemplated by Section 2.06(c) of this Agreement.

Class A Borrowing Base Deficiency. “Total Borrowing Base Deficiency”, “Annualized Charge-off Ratio”, “Concentration Limits”, “Level I Trigger Event”, “Level II Trigger Event”, “Level III Trigger Event”, “Class A Monthly Principal Amount”, “Class B Monthly Principal Amount”, “Total Required Collateralization Percentage”, “Reserve Account Required Amount”, “Senior Interest” or “Subordinate Interest”.

Class A Borrowing Base Deficiency means, as of any date of determination, the positive excess, if any, of the Class A Invested Amount over the Class A Borrowing Base, after application of funds, if any, by the Trustee in reduction of the Class A Invested Amount as contemplated by Section 3.05 of the Class A Note Purchase Agreement.

Class A Borrowing Base Deficiency means, as of any day, the amount, if any, by which the Total Utilization of Class A Revolving Maximum Amount exceeds the Class A Borrowing Base.

Class A Borrowing Base Deficiency means, as of any day, the amount, if any, by which the Total Utilization of Class A Revolving Commitments exceeds the Class A Borrowing Base, provided that, if solely as a result of the occurrence of an SPV Event and a consequent reduction in the Applicable Class A Advance Rate in accordance with the proviso in the definition thereof, a deficiency occurs hereunder that would otherwise be deemed a “Class A Borrowing Base Deficiency” or a “Borrowing Base Deficiency”, then notwithstanding the foregoing, no Class A Borrowing Base Deficiency or “Borrowing Base Deficiency”, Default or Event of Default shall be deemed to exist hereunder unless such deficiency is not cured by the thirtieth (30th) day after the occurrence of such SPV Event.

Class A Borrowing Base Deficiency means, as of any day, the amount, if any, by which the Total Utilization of Class A Revolving Maximum Amount exceeds the Class A Borrowing Base. “Class A Commitment Fee” means [***] “Class A Indemnitee” means an Indemnitee who is a Class A Revolving Lender, an Affiliate of a Class A Revolving Lender or an officer, partner, director, trustee, employee or agent of a Class A Revolving Lender. “Class A Lending Group” means either the CS Lending Group or the BMO Lending Group. “Class A Maximum Committed Amount” means, at any time, the aggregate amount of the Class A Revolving Committed Maximum Amounts at such time. “Class A Revolving Availability” means, as of any date of determination, the amount, if any, by which the Class A Borrowing Base exceeds the Total Utilization of Class A Revolving Maximum Amount.

Class A Borrowing Base Deficiency means, at any time, the remainder (if positive) of (i) the Class A Aggregate Loan Principal Balance at such time, minus (ii) the Class A Borrowing Base at such time.