Company Borrowing Base definition

Company Borrowing Base means, at any time, an amount equal to the aggregate Discounted Value of all Collateral included in the Company Collateral Pool at such time, free and clear of any Lien other than those granted under the Loan Documents or as permitted by Section 7.8.

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Company Borrowing Base means, as at any date of determination, an aggregate amount equal to:

Examples of Company Borrowing Base in a sentence

The aggregate principal amount of Revolving Credit Loans at any time outstanding to the Company shall not exceed the Company Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate and the aggregate principal amount of Revolving Credit Loans at any time outstanding to LSI shall not exceed the LSI Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate.
The advance rates specified in this Agreement for determination of the Aggregate Borrowing Base and the Company Borrowing Base applicable to any Borrower, respectively, may be decreased from time to time based upon such considerations as Lender may deem appropriate in its discretion.
Subsection 1.1 of the Credit Agreement is hereby amended by deleting the two references to "$30,000,000" appearing in the term "Company Borrowing Base" and substituting therefor "$38,000,000" for each such reference and by deleting the two references to "$30,000,000" appearing in the term "Sun Gro Borrowing Base" and substituting therefor "$38,000,000" for each such reference.
Pursuant to Section 6.1(i) of the Credit Agreement, the undersigned treasurer of the Company hereby certifies that attached hereto as Annexes A and B are a true and accurate calculation of the Company Borrowing Base (Annex A) and MSL Overseas Borrowing Base (Annex B) as of ________________, ______ determined in accordance with the requirements of the Credit Agreement.
Contemporaneously with each request for a loan under the Revolving Facility and in any event at least weekly, and at such other times as Lender may request, each Borrower shall execute and deliver to Lender, in form satisfactory to Lender, a collateral report setting forth a certification of Eligible Accounts and Eligible Inventory, and calculation of its Company Borrowing Base, in form prescribed by Lender.
The Borrowers shall not permit the sum of the principal amount of all Loans outstanding to the Company to exceed the Company Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate and the Borrowers shall not permit the sum of the principal amount of all Loans outstanding to LSI to exceed the LSI Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate.

More Definitions of Company Borrowing Base

Company Borrowing Base means, as at any date of determination, the lesser of (i) the difference between (a) the sum of (1) 90% of all Eligible Accounts Receivable of Company and its Domestic Subsidiaries due from IBM that are unpaid for 30 days or less from the date of the original invoice therefor, (2) 80% of all Eligible Accounts Receivable of Company and its Domestic Subsidiaries other than those specified in clause (1) above and (3)(i) until December 31, 1999, 45% of all Eligible Inventory of Company and its Domestic Subsidiaries (less such amount of Eligible Inventory to assure that Eligible Inventory at any time does not exceed 60% of the Company Borrowing Base) and (ii) after December 31, 1999, 35% of all Eligible Inventory of Company and its Domestic Subsidiaries (less such amount of Eligible Inventory to assure that Eligible Inventory at any time does not exceed 50% of the Company Borrowing Base) and (b) the Term Loans and Tranche B Term Loans advanced to Company and (ii) $75,000,000 minus the Total Utilization of Revolving Loan Commitments attributable to MSL Overseas.

Company Borrowing Base means, as at any date of determination, the lesser of (i) the difference between (a) the sum of 80% of all Eligible Accounts Receivable of Company and its Domestic Subsidiaries and 30% of all Eligible Inventory of Company and its Domestic Subsidiaries (less such amount of Eligible Inventory to assure that Eligible Inventory at any time does not exceed 35% of the Company Borrowing Base) and (b) the Term Loans advanced to Company and (ii) $75,000,000 minus the Total Utilization of Revolving Loan Commitments attributable to MSL Overseas.

Company Borrowing Base as to any Borrower at any time means an amount equal to (i) up to a maximum of eighty-five percent (85%) of the Eligible Accounts of such Borrower plus (ii) up to a maximum of forty-five percent (45%) of the Eligible Inventory of such Borrower (provided, that the maximum amount outstanding under the Revolving Facility in respect of advances against all Eligible Inventory shall not at any time exceed the lesser of (a) $5,000,000.00 or (b) fifty percent (50%) of the aggregate unpaid

Company Borrowing Base means, as of any date, an amount equal to the sum of (a) 85.0% of the book value of all accounts receivable owned by the Company and its Domestic Subsidiaries and Canadian Restricted Subsidiaries (excluding any accounts receivable from an Affiliate of such Person or that are more than 90 days past due, less (without duplication) the allowance for doubtful accounts attributable to current trade accounts receivable) and (b) 60.0% of the book value of all inventory owned by the Company and its Domestic Subsidiaries and Canadian Restricted Subsidiaries as of such date (with a seasonal increase of 70.0% of inventory in effect from July 1 through November 30 of each year), all calculated on a consolidated basis and in accordance with GAAP. To the extent that information is not available as to the amount of accounts receivable or inventory as of a specific date, Company Borrowing Base shall be calculated utilizing the most recent available information.

Company Borrowing Base as to any Borrower any time means an amount equal to (i) up to a maximum of eighty-five percent (85%) of the Eligible Accounts of such Borrower plus (ii) up to a maximum of forty-five percent (45%) of the Eligible Inventory of such Borrower provided that the maximum amount outstanding under the Revolving Facility in respect of advances against all Eligible Inventory shall not at any time exceed the lesser of (a) $6,000,000.00 or (b) fifty percent (50%) of the aggregate unpaid balance of the Revolving Facility), less (iii) the Reserve applicable to such Borrower."