Distribution Borrowing Base definition

Distribution Borrowing Base means, at any time, an amount equal to the sum of (i) the Dollar Equivalent of the amounts in the Principal Collection Account, (ii) an amount equal to the product of (x) the Distribution Advance Rate as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Net Collateral Balance as of such date (excluding the Sale Settlement Pending Collateral from the calculation of the Aggregate Net Collateral Balance) and (iii) the Dollar Equivalent of the aggregate sale price of the Sale Settlement Pending Collateral.
Sample 1Sample 2Sample 3
Distribution Borrowing Base means, at any time of calculation, an amount equal to:
Sample 1Sample 2

Examples of Distribution Borrowing Base in a sentence

  • For the avoidance of doubt, any Collateral Asset that, as a result of any amendment or supplement thereto, ceases to qualify as an Eligible Collateral Asset shall not be included in the Borrowing Base, Distribution Borrowing Base or the EOD Borrowing Base.

  • The Collateral Agent shall re-calculate pursuant to the preceding sentence: (i) the Borrowing Base, (ii) the Distribution Borrowing Base, (iii) the EOD Borrowing Base and (iv) such other re-calculations as may be mutually agreed upon by the Collateral Agent, the Servicer and the Administrative Agent.

Related to Distribution Borrowing Base

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

  • Class C Reserve Account Percentage means, (i) zero, if the Quarterly Excess Available Funds Percentage on such Transfer Date is greater than or equal to 4.50%, (ii) 1.25%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.50% and greater than or equal to 4.00%, (iii) 2.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.00% and greater than or equal to 3.50%, (iv) 2.75%, if the Quarterly Excess Available Funds Percentage is less than 3.50% and greater than or equal to 3.00%, (v) 3.50%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 3.00% and greater than or equal to 2.50%, (vi) 4.50%, if the Quarterly Excess Available Funds Percentage is less than 2.50% and greater than or equal to 2.00%, and (vii) 6.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 2.00%.

  • Incremental Revolving Loans has the meaning assigned to such term in Section 2.22(a).

  • Available Incremental Amount has the meaning set forth in Section 2.14(d)(v).