Combined Borrowing Base definition

Combined Borrowing Base means, at any time, the sum of (a) the U.S. Borrowing Base at such time and (b) the lesser of (i) the Canadian Borrowing Base at such time and (ii) the Maximum Canadian Revolver Amount at such time.

Combined Borrowing Base means the sum of (a) the Tranche A Borrowing Base plus (b) the Canadian Borrowing Base.

Combined Borrowing Base as defined in the ABL Credit Agreement.

Examples of Combined Borrowing Base in a sentence

• The Administrative Agent has received a Borrowing Base Certificate that calculates the Term Loan Borrowing Base, Revolving Borrowing Base, Combined Borrowing Base and Combined Borrowing Base Availability, each as of the Effective Date, together with all supporting documentation relating thereto.

• The Borrowers and the Guarantors acknowledge and agree that while (A) a Cash Dominion Period is in effect or (B) Combined Borrowing Base Availability is less than $150,000,000, the Agent may require the delivery of Borrowing Base Certificates on a more frequent basis (with any such more frequent Borrowing Base Certificate to be computed according to a method reasonably specified by the Agent after consultation with the Borrowers’ Agent).

• If at any time the Dollar Equivalent of the aggregate principal balance of all UK Revolver Loans owing by a UK Borrower exceeds the UK Borrowing Base of such UK Borrower (determined on a combined basis for UK Borrowers that have satisfied the UK Combined Borrowing Base Condition) (a “UK Overadvance”), the excess amount shall, subject to Section 5.2(b), be payable by the Applicable UK Borrower(s) on demand by the Agent.

• The Swingline Lender will not only make any Swingline Loan if the requested Swingline Loan exceeds Availability (before or after giving effect to such Swingline Loan) will not result in (a) the aggregate amount of Swingline Loans outstanding at any time to exceed $5,000,000, (b) the Aggregate Revolving Exposure exceeding the lesser of (x) the Aggregate Revolving Commitment less the Availability Block, or (y) the Borrowing Base, or (c) Combined Exposure exceeding the Combined Borrowing Base.

• Subject to the restrictions otherwise set forth in this Agreement, the Agent shall have the right to establish, modify or eliminate Reserves against the Combined Borrowing Base assets in its Permitted Discretion.

More Definitions of Combined Borrowing Base

Combined Borrowing Base means the sum of the Tranche A Borrowing Base plus the Tranche A-1 Borrowing Base.

Combined Borrowing Base means the “Combined Borrowing Base” as defined in the ABL Credit Agreement.

Combined Borrowing Base means the sum of (i) the Domestic Borrowing Base and, as long as Canadian, (ii) as long as Canadian Commitments remain outstanding, the Canadian Borrowing Base, and (iii) as long as Tranche A-1 Commitments remain outstanding, the Canadian Tranche A-1 Borrowing Base.

Combined Borrowing Base means the sum of the Revolving Borrowing Base and the Term Loan Borrowing Base.

Combined Borrowing Base means, as of any date of determination, an amount equal to the sum of (a) the Borrowing Base (calculated without giving effect to the Term Loan Push Down Reserve) and (b) the Term Facility Borrowing Base.

Combined Borrowing Base means the sum of (a) the Domestic Borrowing Base plus (b) the Canadian Borrowing Base.

Combined Borrowing Base means the sum of (i) the Combined Revolving Borrowing Base and (ii) the FILO Borrowing Base.