Excess Borrowing Base Availability definition

Excess Borrowing Base Availability means the amount, if any, by which the Borrowing Base exceeds the aggregate amount of the Working Capital Obligations (regardless of the amount of unused Revolving Credit Commitments), as determined by reference to the most recent Borrowing Base Certificate.
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Excess Borrowing Base Availability as of any date of determination thereof by the Administrative Agent, the sum of:
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Excess Borrowing Base Availability means, at any date of determination, the amount by which the Borrowing Base exceeds the sum of the outstanding Advances and the L/C Amount.
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Examples of Excess Borrowing Base Availability in a sentence

  • Company shall maintain, at all times, a minimum Excess Borrowing Base Availability of not less than $5,000,000.

  • Information provided to the Contractor's SAM record that indicates payments, including those made by EFT, to an ultimate recipient other than that Contractor will be considered to be incorrect information within the meaning of the “Suspension of Payment” paragraph of the EFT clause of this contract.(3) The Contractor shall ensure that the DUNS number is maintained with Dun & Bradstreet throughout the life of the contract.

  • Pursuant to Section 5.2(c) of the Credit Agreement, the current Excess Borrowing Base Availability [$ ], which o satisfies o does not satisfy the requirement Company maintain an Excess Borrowing Base Availability of at least $5,000,000.

  • EXHIBIT 1 SECURITIES AND EXCHANGE COMMISSION(Release No. 34- ; File No. SR-BATS-2015-30) Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Rule 3.5, Advertising Practices and Repeal Rule 3.20, Initial or Partial Payments Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the “Act”),1 and Rule 19b-4 thereunder,2 notice is hereby given that on , BATS Exchange, Inc.

  • Receipt by the Agent of evidence satisfactory to the Agent that the Borrowers have Excess Borrowing Base Availability of at least $3,000,000 as of the Closing Date, after giving effect to the payment of fees and expenses associated with the closing of this Credit Agreement, the making of the Loans and other extensions of credit and the application of the proceeds thereof to be made on the Closing Date and after deductions for past due payables and other obligations.

  • Make a Restricted Payment, other than a Permitted Investment, and other than (a) to pay dividends or make distributions of cash from Parent or any Subsidiary to any Credit Party, and (b) to repurchase shares or warrants issued by the Credit Parties, so long as immediately after such repurchase the sum of Excess Borrowing Base Availability plus Unrestricted Cash Balances shall not be less than $20,000,000.


More Definitions of Excess Borrowing Base Availability

Excess Borrowing Base Availability means the Gross Borrowing Base minus the Aggregate Outstandings (but excluding Open Approvals).
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Related to Excess Borrowing Base Availability

  • Canadian Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate Canadian Revolving Commitments at such time and (ii) the Canadian Borrowing Base at such time, minus (b) Commitment Reserves established with respect to the Canadian Loan Parties and/or the Canadian Collateral at such time minus (c) the Aggregate Canadian Credit Exposure at such time.

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

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

  • 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.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

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

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

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

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

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

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

  • Availability Block means $15,000,000.