Current Asset Borrowing Base definition

Current Asset Borrowing Base in Section 1.1 of the Agreement is amended in its entirety to read as follows:
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Current Asset Borrowing Base means, as of any date of determination, the sum of (y) the Eligible Inventory Borrowing Base plus ---- (z) the lesser of: (i) 10,000,000; and (ii) 85% of the Dollar value of credit card drafts payable to Company or any of its Subsidiaries (net of credits as a result of returns and net of amounts due to franchisees); provided that the Current Asset Borrowing Base may be reduced by customary -------- reserves in such amounts as Agent, acting in its reasonable discretion, may from time to time establish in good faith against the Current Asset Borrowing Base to reflect contingencies, risks or events which (in its reasonable judgment) may materially adversely affect the Collateral or the business or financial condition of Company and its Subsidiaries or the security of the Loans made hereunder.
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Current Asset Borrowing Base means, at any particular time, the result of:
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Examples of Current Asset Borrowing Base in a sentence

  • Current Asset Borrowing Base – as of any date, the remainder of (x) the Borrowing Base minus (y) the Real Estate Component.

  • If Protective Advances are made in accordance with this Section 2.01(d), then the Current Asset Borrowing Base and the Fixed Asset Borrowing Base shall thereafter be deemed ratably increased (based on the Current Asset Revolving Facility Availability and the Fixed Asset Revolving Facility Availability at such time) by the amount of such permitted Protective Advances, but only for so long as the Administrative Agent allows such Protective Advances to be outstanding.

  • Company shall from time to time prepay the Loans to the extent necessary so that the Total Current Utilization shall not at any time exceed the lesser of (1) the Maximum Revolving Amount minus, the Letter of Credit Usage; or (2) the Current Asset Borrowing Base minus the Letter of Credit Usage.

  • Company shall from time to time prepay the -------------------------- Revolving Loans to the extent necessary so that the Total Current Utilization shall not at any time exceed the lesser of (1) the Maximum Revolving Amount; minus the outstanding balance of the Term Loan, minus, the Letter of Credit Usage; or (2) the Current Asset Borrowing Base, minus the Letter of Credit Usage, minus any reserves established by Agent pursuant to the terms of this Agreement.


More Definitions of Current Asset Borrowing Base

Current Asset Borrowing Base means, as of any date of determination, the result of (a) the sum of (y) the Eligible Inventory Borrowing Base plus (z) the lesser of: (i) $10,000,000; and (ii) 85% of the Dollar value of Eligible Credit Card Receivables (net of credits as a result of returns and net of amounts due to franchisees), minus (b) Availability Reserves.
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Current Asset Borrowing Base means an amount determined by Agent and the Required Banks, in their sole discretion, based upon the results of the Asset Based Lending Examination, which amount shall be established by using advance rates for the inventory and accounts receivable of Borrower and each Guarantor of Payment; provided, however, that such advance rates (a) shall be determined by Agent and the Required Banks in their sole discretion, (b) shall be subject to such eligibility requirements and reserves as Agent and the Required Banks shall deem necessary or appropriate, in their sole discretion, and (c) shall at all times be subject to modification or reduction, in the sole discretion of Agent and the Required Banks.
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Current Asset Borrowing Base means, at any time, the Borrowing Base at such time adjusted to exclude the Facilities Amount at such time.
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Current Asset Borrowing Base shall have the meaning assigned to such term in the definition of “Borrowing Base.”
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Related to Current Asset Borrowing Base

  • U.S. Borrowing Base means, as of any date of determination, the result of:

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

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

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • 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.

  • Canadian Borrowing Base means, at any time, an amount in Dollars 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.

  • Borrowing Base Amount means:

  • Foreign Borrowing Base means, as of any date, an amount equal to:

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

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

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • 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.

  • 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:

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • Working Capital Borrowings means borrowings incurred pursuant to a credit facility, commercial paper facility or similar financing arrangement that are used solely for working capital purposes or to pay distributions to the Partners; provided that when such borrowings are incurred it is the intent of the borrower to repay such borrowings within 12 months from the date of such borrowings other than from additional Working Capital Borrowings.

  • Total Borrowings means, in respect of the Company on a consolidated basis, as of a given date the aggregate of the following, without duplication:

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Adjusted Borrowing Value means, on any date of determination, for any Eligible Loan Asset, an amount equal to the lower of (a) the Outstanding Balance of such Eligible Loan Asset at such time and (b) the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time. Notwithstanding the foregoing, the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset at such time shall be zero.

  • 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.

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • 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.