Combined Borrowing Base Availability definition

Combined Borrowing Base Availability means, as of any date of determination, the sum of (i) the Combined Borrowing Base, minus (ii) Combined Exposure.
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Combined Borrowing Base Availability means, at any date of determination, the excess of the Combined Borrowing Base over the Aggregate Revolver Outstandings on such date.
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Combined Borrowing Base Availability means that portion of the Loan allocated by Bank to Eligible Mortgage Loans and Purchased Property, provided that the Borrowing Base Availability allocated to an Eligible Mortgage Loan shall never exceed the lesser of (a) the Collateral Value Applicable to such Eligible Mortgage Loan, or (b) $750,000.00, if the Project which secures such Mortgage Loan is not a hotel or motel and $2,000,000.00 with respect to all Mortgage Loans, and provided further that the Borrowing Base Availability allocated to the Purchased Properties shall never exceed the lesser of (a) $20,000,000.00 or (b) forty percent (40%) of the lesser of (i) Borrower's purchase price for such Purchased Properties as listed on EXHIBIT "K" to the Loan Agreement, or (ii) the aggregate Appraised Value of such Purchased Properties. The term "AFFECTED PROJECT" as used in SECTION 2.6(f) of the Loan Agreement shall include any Purchased Property damaged or destroyed as a result of fire or other casualty and the terms of SECTION 2.6(f) of the Loan Agreement shall apply to any such damaged or destroyed Purchased Property. After the end of the Interim Period, the definition of COMBINED BORROWING BASE AVAILABILITY shall revert back to the previous definition set out in the Loan Agreement. On or before March 15, 1999, Borrower shall repay in full all Purchase Advances, and upon such payment the properties listed on EXHIBIT "K" shall cease to be Purchased Properties. If Borrower fails to repay all Purchase Advances on or before March 15, 1999, Borrower shall, by May 1, 1999, grant and deliver to Lender, at Borrower's expense, a perfected first lien mortgage or deed of trust against each Purchased Property securing the Loan in form acceptable to Lender, along with original mortgagee's policies of title insurance issued with respect to each such mortgage or deed of trust, and any Project Documents requested by Lender pertaining to the Purchased Properties, and any other documents reasonably requested by Lender to ensure that the Loan is secured by liens against the Purchased Properties. Failure to deliver all such requested instruments and documents or on before May 1, 1999, shall constitute an Event of Default under the Loan Agreement.
Sample 1

Examples of Combined Borrowing Base Availability 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).

Related to Combined Borrowing Base Availability

  • 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.

  • 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.

  • 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:

  • Canadian Availability means (a) the lesser of (x) the Canadian Sublimit and (y) the sum of (i) the Canadian Borrowing Base plus (ii) solely to the extent the total Revolving Exposure relating to the Canadian Borrower exceeds the Canadian Borrowing Base, the US Availability (calculated without giving effect to any Canadian US Borrowing Base Utilization), minus (b) the total Revolving Exposure relating to the Canadian Borrower.

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

  • 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:

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

  • 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 Base Amount means:

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

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • 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.

  • 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.

  • Foreign Borrowing Base means, as of any date, 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.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

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

  • 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:

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

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

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.