Equipment Loan Borrowing Base definition

Equipment Loan Borrowing Base means an amount equal to the lesser of: (i) Seven Hundred Fifty Thousand Dollars ($750,000); or (ii) seventy-five percent (75%) of the face amount of net invoices for Eligible Equipment.
Sample 1
Equipment Loan Borrowing Base means: (I) prior to June 30, 2000, an amount equal to the lesser of:
Sample 1
Equipment Loan Borrowing Base. As of any date of determination, the then amount equal to the sum of (A) product of (i) 100% minus the Equipment Loan Required Credit Support and (ii) the Equipment Loan Collateral Value, (B) the Equipment Loan LC Amount including amounts drawn pursuant to Sections 3.27(d) and 3.27(e) of the Indenture and (C) the amount in the Reserve Account related to the Loans (as determined in accordance with Section 8.7 of the Indenture). For the avoidance of doubt, the Ineligible Cap Reserve shall be excluded from the calculation of the preceding clause (C).
Sample 1

Examples of Equipment Loan Borrowing Base in a sentence

  • It is understood that the determination of the maximum principal amount of the Loans shall be made without regard to the components of the Revolving Loan Borrowing Base based upon Eligible Accounts and Eligible Inventory and the component of the Equipment Loan Borrowing Base based upon Eligible Equipment.

  • The indebtedness of Borrower by virtue of the making of any Revolving Loan or Equipment Loan shall not exceed the Revolving Loan Borrowing Base or the Equipment Loan Borrowing Base, respectively.

  • If, at any time, the aggregate principal amount of all outstanding Equipment Loans shall exceed the Equipment Loan Borrowing Base, then any such excess amount shall, without limiting any other rights or remedies of Lender hereunder, be immediately paid by Borrower to the Lender.

  • Borrower shall not request any Revolving Loan or Equipment Loan if the effect of such Revolving Loan or Equipment Loan shall be to cause the aggregate balance of all Revolving Loans or Equipment Loans to exceed the Revolving Loan Borrowing Base or the Equipment Loan Borrowing Base, respectively.

  • Nothing herein shall be construed to prohibit Lender from lending in excess of the Equipment Loan Borrowing Base, it being agreed that all such loans and advances shall be at Lender's sole discretion and shall not establish a pattern or custom binding upon Lender.

  • Within the limits of the Equipment Loan Borrowing Base, so long as Borrower is in compliance with all of the terms and conditions of this Agreement and no Defaulting Event has occurred, Borrower may request borrowings and repay BUT NOT REBORROW Initial Equipment Loans.

  • Within the limits of the Equipment Loan Borrowing Base, so long as Borrower is in compliance with all of the terms and conditions of this Agreement and no Defaulting Event has occurred, Borrower may request borrowings (but in any event, no more than one time per fiscal quarter of the Borrower) and repay BUT NOT REBORROW First Stage Equipment Loans.

  • Within the limits of the Equipment Loan Borrowing Base, subject to the terms and conditions of this Agreement and so long as no Defaulting Event has occurred, Borrower may request borrowings (but, in any event, no more than one time per fiscal quarter of the Borrower) and repay BUT NOT REBORROW Third Stage Equipment Loans.

  • 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 January 1, 1999 until but not including the Equipment Loan Conversion Date; PROVIDED that the sum of the outstanding principal amount of all Tranche B Equipment Loans (after giving effect to all amounts requested) shall not exceed the lesser of (a) the Tranche B Equipment Loan Commitment and (b) the Equipment Loan Borrowing Base.

  • Two (2) Business Days prior to each Advance, the Issuer shall deliver, or cause the Servicer to deliver to the Indenture Trustee, to each Noteholder and the Insurer a duly completed and executed (a) Equipment Loan Borrowing Base Certificate giving pro forma effect to any Advances to be made on any such Equipment Loan Borrowing Date and (b) Receivables Borrowing Base Certificate giving pro forma effect to any Advances to be made on any such Receivables Borrowing Date.


More Definitions of Equipment Loan Borrowing Base

Equipment Loan Borrowing Base. As of any date of determination, the then amount equal to the sum of (A) product of (i) 100% minus the Equipment Loan Required Credit Support and (ii) the sum of (a) the Equipment Loan Collateral Value and (b) the amount in the Reserve Account related to the Loans (as determined in accordance with Section 8.7 of the Indenture), and (B) the Equipment Loan LC Amount including amounts drawn pursuant to Sections 3.27(d) and 3.27(e) of the Indenture.
Sample 1
Equipment Loan Borrowing Base means, as of any date of determination, an amount equal to the book value (determined in accordance with the Loan Parties' accounting practices as of the date of this Agreement) of LFC's equipment leased to others in which Lender has a perfected first priority security interest.
Sample 1

Related to Equipment Loan Borrowing Base

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

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

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

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

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

  • Term Loan Advances are each defined in Section 2.1.1(a).

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

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

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • 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.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Term Loan B Facility means the facility described in Section 2.01(b) providing for an advance of the Term Loan B to the Borrower by the Term Loan B Lenders in the original principal amount of $565,000,000, as adjusted from time to time pursuant to the terms of this Agreement.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

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

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

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

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

  • Maximum Revolving Advance Amount means $25,000,000.

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

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Borrowing Base Amount means:

  • Revolving Advances means Advances made other than Letters of Credit.