Class B Borrowing definition

Class B Borrowing a borrowing consisting of simultaneous Class B Revolving Loans of the same Type and, in the case of Eurodollar Loans, having the same Interest Period, made by each of the Class B Lenders pursuant to Section 2.1(b).
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Class B Borrowing has the meaning assigned to such term in Section 2.1.
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Examples of Class B Borrowing in a sentence

  • The Borrowing Base Certificate required to be delivered with any Release Notice shall be dated and current as of the close of business on the date preceding the delivery date for such Release Notice set forth above and shall show pro forma calculations of the Reserve Account Funding Requirement, Class A Borrowing Base and Class B Borrowing Base as of the applicable Release Date (after giving effect to any Release on such date).

  • 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.

  • 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.

  • Notwithstanding anything herein to the contrary, on any Credit Date with respect to a Credit Extension of a Class B Revolving Loan, Company may without further action on the part of Company distribute the proceeds of such Class B Revolving Loan to Holdings so long as no Class B Borrowing Base Deficiency or Class A Borrowing Base Deficiency has occurred or would result therefrom (a “Borrower Distribution”).

  • Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent).

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

  • Notwithstanding anything herein to the contrary, on LEGAL_US_E # 152147085.3152147085.12 any Credit Date with respect to a Credit Extension of a Class B Revolving Loan, Company may without further action on the part of Company distribute the proceeds of such Class B Revolving Loan to Holdings so long as no Class B Borrowing Base Deficiency or Class A Borrowing Base Deficiency has occurred or would result therefrom (a “Borrower Distribution”).

  • The Borrowing Base Certificate required to be delivered with any Release Notice shall be dated and current as of the close of business on the date preceding the delivery date for such Release Notice set forth above and shall show pro forma calculations of the Reserve Account Funding Requirement, the Class A Borrowing Base and Class B Borrowing Base as of the applicable Release Date (after giving effect to any Release on such date).

  • Notwithstanding anything herein to the contrary, during the Revolving Period, payments required under Sections 4.5(a) and (b) shall not be required if the Class A Aggregate Loan Amount is equal to or less than the Class A Borrowing Base and the Class B Aggregate Loan Amount is equal to or less than the Class B Borrowing Base.

  • The Monthly Report delivered for any Collection Period shall contain the information with respect to the Collateral Loans set forth in Schedule 2 hereto (including, without limitation, a calculation of the Class A Borrowing Base and the Class B Borrowing Base), and shall be determined as of the last day of the Collection Period applicable to such Monthly Report.

Related to Class B Borrowing

  • 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.

  • Term Borrowing means a borrowing consisting of Term Loans of the same Type and the same Class and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders of the applicable Class under this Agreement.

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

  • 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.

  • Revolving Borrowing means a Borrowing comprised of Revolving Loans.

  • 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).