European Borrowing Base definition

European Borrowing Base means the lesser of (i) the sum of the Swiss Borrowing Base plus the U.K. Borrowing Base and (ii) $325 million.

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.

• The European Borrowing Base at any time shall be determined by reference to the most recent European Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(g) of this Agreement.

• 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 Administrative Agent may, in its Permitted Discretion, adjust Reserves (subject to Section 9.02(b)) used in computing the Aggregate Borrowing Base and the European Borrowing Base, with any such changes to be effective two Business Days after delivery of notice thereof to the Borrower Representative and the Lenders in accordance with Section 11.04 of this Agreement.

• Notwithstanding the foregoing, to the extent any Post Closing Borrower has not satisfied the conditions set forth in Section 5.2, its assets shall not be included in any Borrowing Base (including the Aggregate Borrowing Base and the Aggregate European Borrowing Base) and the Borrowing Base of such Post Closing Borrower (and in the case of a Post Closing Borrower from England and Wales or the Netherlands, its contribution towards the Pooled Borrowing Base) shall be zero.

More Definitions of European Borrowing Base

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

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 of determination, an amount equal to the sum of (a) the U.K. Borrowing Base as of such time, plus (b) the Dutch Borrowing Base as of such time.

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: