Equipment Borrowing Base definition

Equipment Borrowing Base means 100% of Eligible Equipment.
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Equipment Borrowing Base means at any time an amount equal to the Eligible Equipment (on a dollar-for-dollar basis).
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Equipment Borrowing Base. An amount determined by the Bank to be equal to the lesser of (a) $2,000,000 and (b) the sum of (i) one hundred percent (100%) of the cost (excluding freight, taxes, set-up and other installation costs) of all Equipment Collateral (excluding any and all Equipment Collateral consisting of development software) as evidenced by invoices and evidence of payment (dated no more than thirty (30) days from the date of purchase) from the sellers thereof, plus (ii) one hundred percent (100%) of the cost (excluding freight, taxes, set-up and other installation costs) of all Equipment Collateral consisting of development software as evidenced by invoices and evidence of payment (dated no more than thirty (30) days from the date of purchase) from the sellers thereof in an aggregate amount not to exceed the lesser of (A) $500,000 and (B) thirty-five percent (35%) of the aggregate principal amount outstanding of the Tranche A Equipment Loans and the Tranche B Equipment Loans; provided, however, that the Borrower shall not be required to provide Bank with evidence of such invoices and evidence of payment within such thirty (30) day period set forth above with respect to the Equipment Collateral financed by Silicon Valley Bank or such other entity and refinanced with the proceeds of Tranche A Equipment Loans on the Closing Date or other equipment financed on Closing Date.
Sample 1

Examples of Equipment Borrowing Base in a sentence

  • Equipment to be included in the Equipment Borrowing Base must be new equipment, at the time of purchase by Borrower, owned by Borrower, in good working order, must not be subject to any liens in favor of any person or entity other than Silicon, and must be subject to a first priority, perfected security interest in favor of Silicon.

  • Equipment included in the Equipment Borrowing Base were required to be new equipment, at the time of purchase by Borrower, owned by Borrower, in good working order, were required to be subject to any liens in favor of any person or entity other than Silicon, and were required to be subject to a first priority, perfected security interest in favor of Silicon.

  • However, in the case of the $140,000 ONYX System purchase, the Equipment Borrowing Base shall include software, installation and costs.

  • For purposes of this Schedule, the "Equipment Borrowing Base" meant 80% of the invoice value of equipment purchased by Borrower.

  • An amount not to exceed the lesser of (i) $250,000 at any one time outstanding; or (ii) the amount of the "Equipment Borrowing Base", as defined below.

  • For purposes of this Schedule, the "Equipment Borrowing Base" shall mean 90% of the invoice value of equipment purchased by Borrower.

  • Subject to the terms hereof, Lender will make Advances to Borrower up to the principal amount of the Commitment or 100% of Equipment Borrowing Base, on or before the Commitment Termination Date.

  • To evidence each Term Loan, Borrower shall deliver to Bank, at the time of each Term Loan request, evidence, in form and substance satisfactory to Bank (the "Term Loan Evidence"), of the equipment purchases that are the subject of the Equipment Borrowing Base.

  • It is expressly understood and agreed that Lender shall use the Equipment Borrowing Base as a maximum ceiling on Equipment Loans outstanding to Borrower at any time.

  • Upon the terms and subject to the conditions of this Agreement, the Bank agrees to lend to the Borrower such sums that the Borrower may request from September 29, 1999 until but not including the Equipment Loan Conversion Date; PROVIDED that the sum of the outstanding principal amount of all Tranche C Equipment Loans (after giving effect to all amounts requested) shall not exceed the lesser of (a) Tranche C Equipment Loan Commitment and (b) the Equipment Borrowing Base.


More Definitions of Equipment Borrowing Base

Equipment Borrowing Base. An amount determined by the Bank to be equal to the lesser of (a) $2,000,000 and (b) the sum of (i) one hundred percent (100%) of the cost (excluding freight, taxes, set-up and other installation costs) of all Equipment Collateral (excluding any and all Equipment Collateral consisting of development software) as evidenced by invoices and evidence of payment (dated no more than thirty (30) days from the date of purchase) from the sellers thereof, PLUS (ii) one hundred percent (100%) of the cost (excluding freight, taxes, set-up and other installation costs) of all Equipment Collateral consisting of development software as evidenced by invoices and evidence of payment (dated no more than thirty (30) days from the date of purchase) from the sellers thereof in an aggregate amount not to exceed the lesser of (A) $500,000 and (B) thirty-five percent (35%) of the aggregate principal amount outstanding of the Tranche A Equipment Loans, the Tranche B Equipment Loans and the Tranche C Equipment Loans; PROVIDED, however, that the Borrower shall not be required to provide Bank with evidence of such invoices and evidence of payment within such thirty (30) day period set forth above with respect to (x) the Equipment Collateral financed by Silicon Valley Bank or such other entity and refinanced with the proceeds of Tranche A Equipment Loans on the Closing Date or other equipment financed on Closing Date and (y) the Equipment Collateral purchased by the Borrower from July 1, 1999 through the Tranche C Equipment Loan Closing Date and refinanced with the proceeds of Tranche C Equipment Loans on the Tranche C Equipment Loan Closing Date."
Sample 1
Equipment Borrowing Base means 100% of the purchase price of Eligible Equipment, provided such equipment has been purchased within 120 days of the Funding Date.
Sample 1
Equipment Borrowing Base means 80% of the invoice cost of Eligible Equipment, provided that for purposes of calculating the Equipment Borrowing Base, the invoice cost of each piece of Eligible Equipment shall be deemed to be reduced by 2% for each month following its date of purchase. The Equipment Borrowing Base may be changed by Agent from time to time in its reasonable discretion, subject to Paragraph 22 hereof as among Lenders and Agent, such change to be effective upon thirty (30) days written notice to Debtor.
Sample 1

Related to Equipment 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:

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • 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:

  • 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 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.

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

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

  • 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.

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Borrowing Base Amount means:

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • 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.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

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

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • 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.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

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

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.