Facility B Borrowing Base means, as of any date of determination thereof by the Agent from time to time, an amount, without duplication, equal to the aggregate at such time of:
Facility B Borrowing Base means (a) 80% of Eligible A/R of Southern Flow, plus (b) 20% of Eligible Inventory of Southern Flow, plus (c) 70% of Eligible A/R of Metretek (including Canadian receivables which otherwise meet the criteria of Eligible A/R), all as calculated on the most recent monthly Borrowing Base Report.
Facility B Borrowing Base means, at the time of a Borrowing Base Determination, an amount equal to the sum of (a) 80% of the aggregate amount of all Eligible Accounts Receivable after contra and cross netting such Eligible Accounts Receivable against accounts payable and Inventory due to account debtors in respect of exchanges, advances, or otherwise and further reducing the result of such computation by the aggregate amount of the Borrowing Base, if any, attributable to any Accounts Receivable which (i) have been collected, charged-off, or otherwise compromised since the date of the most recent previous Borrowing Base Determination, (ii) may have declined materially in value because of a material Adverse Effect or other event, or (iii) for any reason are not subject to a valid and perfected first priority Lien in favor of the Lender, (b) the lesser of (i) $1,000,000 or (ii) 50% of the aggregate value (being, as to each item of Eligible Inventory, the lower of cost or market value as of the relevant date) of Eligible Inventory and (c) the Acetx Xxxduct Line Value.
Examples of Facility B Borrowing Base in a sentence
The section titles are capitalized by pittetdin the text, but not in the bookmarks.
The amount of such reserves shall be subtracted from the Facility A Borrowing Base and/or the Facility B Borrowing Base, as applicable, when calculating the amount of availability under each relevant Credit Facility.
The Borrower shall pay to the Lender an unused fee of 0.50% based on the unused portion of the Facility B Borrowing Base Amount.
The composite connector system shall comply with UL 214 and be classified as "flame-retarded fabrics" in UL-01.
Lender may, in its sole discretion, require that Collateral be delivered to it not less than 5 Business Days prior to any date on which Borrowers request such Collateral to be made part of the Facility A Borrowing Base or Facility B Borrowing Base.
More Definitions of Facility B Borrowing Base
Facility B Borrowing Base means, as of any date, the lesser of: (a) the Facility B Maximum Principal Amount; or (b) the sum of (i) 80% of the aggregate Invoice Price of New Eligible Equipment and (ii) 50% of the aggregate Invoice Price of Used Eligible Equipment.
Facility B Borrowing Base means an amount not to exceed the following as shown on Bank’s records at any time and as reported by the Borrower prior to each request for a Facility B Revolving Loan and in a Facility B Borrowing Base Certificate as required by this Agreement:
Facility B Borrowing Base means, as of any date, an amount equal to 50% of the value of Eligible Inventory constituting finished goods, provided, that, the total amount of reliance in Facility B Borrowing Base plus the reliance on raw material Eligble Inventory in the Facility A Borrowing Base may not exceed $5,000,000.
Facility B Borrowing Base means, on any day, the excess of (a) the ------------------------- aggregate unpaid principal balance as of such day of each Asset Backed Security in the Total Securities Pool which is an Eligible Security on such day, over (b) ---- the Required B Holdback in effect on such day.
Facility B Borrowing Base means, as of any date of determination thereof by the US Administrative Agent from time to time, an amount, without duplication, equal to the aggregate at such time of:
Facility B Borrowing Base. Facility B Commitment", "Loan Parties", "Loans" and "Notes" in Section 1.02 of the Credit Agreement are hereby amended in their entirety to hereafter read as follows: 2 "Agreement" shall mean this Credit Agreement and all exhibits and schedules hereto, as amended by Amendment No. 1 dated as of March 15, 1994, the Second Amendment to Credit Agreement dated as of August 31, 1994, the Third Amendment to Credit Agreement dated December 31, 1994, the Fourth Amendment dated as of March 3, 1995, the Fifth Amendment dated as of March 31, 1995, the Sixth Amendment dated as of November 3, 1995, and the Seventh Amendment dated as of September 23, 1996, as the same may from time to time be amended or supplemented.
Facility B Borrowing Base. Facility B Commitment", "Facility B Termination Date" and "Note B" in Section 1.02 of the Credit Agreement are hereby amended in their entirety to hereafter read as follows: