Examples of Facility Borrowing Base in a sentence
Notwithstanding anything to the contrary set forth herein, after giving effect to any Revolving Loan and after the issuance of any Letter of Credit, in no event shall the Outstanding Amount exceed the then applicable Revolving Facility Borrowing Base.
Upon waiver or cure of the Credit Facility Borrowing Base Deficiency or the Credit Facility Default, as the case may be, the Company shall immediately give notice to the Holders of such wavier or cure and shall thereafter pay dividends to the Holders in accordance with Section 3(a), including the payment of all accrued Deferred Dividends within ten days of the effectiveness of the waiver or cure of the Credit Facility Borrowing Base Deficiency or the Credit Facility Default, as the case may be.
The aggregate of the sum of the principal amount of all Advances outstanding under Credit 01 and the face amount of all outstanding Letters of Credit issued shall not exceed at any time the lesser of the Credit 01 Authorized Limit and the Revolving Credit Facility Borrowing Base (as determined by the most recent Revolving Credit Facility Borrowing Base Certificate).
Total available liquidity as of July 31, 2021 was approximately $57.2 million, including $17.8 million available on the July 31, 2021 ABL Facility Borrowing Base Certificate, net of $10.0 million FCCR holdback.
The Facility Borrowing Base, as defined in the Existing Revolving Credit Facility agreement, is the lesser of (i) $20,000 or (ii) an amount equal to a percentage of eligible accounts receivable plus a percentage of eligible finished inventory plus a percentage of eligible semi-finished inventory and the amount of the cash collateral held under the Existing Revolving Credit Facility (the “Cash Collateral,” see below).
Total liquidity as of June 30, 2022 was $70.7 million and available liquidity was $56.6 million, including net availability of $25.1 million available on the June 30, 2022 ABL Facility Borrowing Base Certificate, net of $14.1 million FCCR holdback.
Available liquidity as of March 31, 2023 was $84.0 million, including availability of $44.4 million on the March 2023 ABL Facility Borrowing Base Certificate.
Subject to the Credit Limit and the terms and conditions hereof and provided that there has been no default, at least weekly the Bank will make advances to the Borrower, based upon the Facility Borrowing Base, the Borrower's Eligible Accounts Receivable and Eligible Inventory, each as defined in Schedule "A".
If at any time the sum of the aggregate outstanding Advances under Credit 01 exceed the Revolving Credit Facility Borrowing Base, the Credit 01 Borrowers shall repay an amount equal to 100% of such excess such that the Revolving Credit Facility Borrowing Base is maintained at all times.
If at any time, from time to time, the unpaid principal amount outstanding and owing by a Borrower under the Term Facility exceeds the Term Facility Borrowing Base applicable to such Borrower then, within thirty (30) days following written request or demand by Lender, such Borrower shall make an immediate payment of principal in reduction of its loan under the Term Facility in an amount not less than the amount necessary to eliminate such excess as of the time of such payment.