European Borrowing Base definition

European Borrowing Base means the lesser of (i) the sum of (A) the Swiss Borrowing Base plus (B) the U.K. Borrowing Base plus (C) each German Borrower’s German Borrowing Base and (ii) 50% of the aggregate Revolving Commitments.

European Borrowing Base means, as of any date of determination, the result of, in each case using the Dollar Equivalent of all amounts in any Available Currency:

European Borrowing Base means the sum of the UK Borrowing Base and the Dutch Borrowing Base.

Examples of European Borrowing Base in a sentence

• The Administrative Agent shall have received (a) an Aggregate Borrowing Base Certificate which calculates the Aggregate Borrowing Base as of April 3, 2010 and (b) a US Borrowing Base Certificate, Canadian Borrowing Base Certificate, UK Borrowing Base Certificate and European Borrowing Base Certificate which calculates each such Borrowing Base as of April 3, 2010, in each case on a pro forma basis after giving effect to the Effective Date.

• For the avoidance of doubt, following the establishment of Additional European Incremental Revolving Facility, the delivery of the European Borrowing Base Certificate shall be governed by the terms of the applicable Incremental Revolving Facility Amendment (including any amendments to this Agreement in connection therewith and as contemplated by Section 2.22).

• The authority of the Administrative Agent to make European Overadvances is limited to an aggregate amount not to exceed, when taken together with any European Protective Advances 10% of the European Borrowing Base in effect at such time.

• Duly executed originals of an initial U.S. Borrowing Base Certificate from U.S. Borrower and initial European Borrowing Base Certificate from European Borrower, each dated the Closing Date, reflecting, in the case of U.S. Borrowing Base Certificate, information concerning Eligible Accounts and Eligible Inventory of U.S. Borrower and Samsonite Stores as of a date not more than seven (7) days prior to the Closing Date.

• Borrowing availability under the US and European revolving credit facilities is subject to a US Borrowing Base and European Borrowing Base, each as defined in the loan agreement for the Senior Credit Facility.

More Definitions of European Borrowing Base

European Borrowing Base means the sum, in Dollars, of the following as set forth in the most recently delivered European Borrowing Base Certificate:

European Borrowing Base has the meaning assigned to such term in Section 2.22(c)(iv).

European Borrowing Base means, at any time, with respect to the Netherlands Loan Parties, the sum of:

European Borrowing Base means on any date of determination, an amount equal to the sum of the European Accounts Formula Amount, plus up to 85% of the NOLV Percentage of the Value of Eligible European Inventory minus the Availability Reserve.

European Borrowing Base means, individually and/or collectively (without duplication) as the context may require, the French Borrowing Base, the German Borrowing Base, the Spanish Borrowing Base, and any Additional European Borrower Borrowing Base.

European Borrowing Base means the sum of the Canadian Borrowing Base, the Dutch Borrowing Base and the UK Borrowing Base.

European Borrowing Base means the lesser of (x) the Maximum European Loan Amount or (y) the sum of: