Global Borrowing Base definition

Global Borrowing Base means the “Global Borrowing Base” as determined from time to time pursuant to Section 2.7.

Global Borrowing Base means the sum of the Canadian Borrowing Base, the Dutch Borrowing Base, the German Borrowing Base, the U.S. Borrowing Base and the U.K. Borrowing Base (calculated giving effect to the proviso in the definition of “PP&E Component”).

Global Borrowing Base means at any time an amount determined in accordance with Section 2.07, as the same may be adjusted from time to time pursuant to Section 8.12(c), Section 9.02(n), or Section 9.10.

Examples of Global Borrowing Base in a sentence

• No Default, Event of Default, Global Borrowing Base Deficiency, U.S. Borrowing Base Deficiency or Global Availability Deficiency shall have occurred which is continuing.

• The Borrower also shall deposit cash collateral pursuant to this paragraph as and to the extent required by Section 2.10, and any such cash collateral so deposited and held by the Canadian Administrative Agent hereunder shall constitute part of the Global Borrowing Base for purposes of determining compliance with Section 2.10.

• Any designation of the Allocated U.S. Borrowing Base or the Allocated Canadian Borrowing Base effected pursuant to this Section 2.07(e)(i) in connection with a determination or redetermination of the Global Borrowing Base or U.S. Borrowing Base, shall be effective as of the date of the New Borrowing Base Notice.

• Dutch Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate Dutch Revolver Commitments; or (b) the sum of the Dutch Accounts Formula Amount, plus the Dutch Inventory Formula Amount, minus the Dutch Availability Reserve; provided, that at no time shall the amount calculated hereunder exceed 30% of the Global Borrowing Base (calculated after giving effect to such limitation).

• It is understood by the parties hereto that the Combined Lenders shall have no commitment or obligation whatsoever to increase the Global Borrowing Base to any amount in excess of U.S.$425,000,000, and nothing herein contained shall be construed to be a commitment by the Combined Lenders to so increase the Global Borrowing Base.

More Definitions of Global Borrowing Base

Global Borrowing Base means the sum of the ABL Borrowing Base and the Term Loan Borrowing Base.

Global Borrowing Base means, at any time of determination, an amount equal to the sum of (a) the U.S. Borrowing Base as of such time, plus (b) the European Borrowing Base as of such time.

Global Borrowing Base means the sum of the Canadian Tranche A Borrowing Base, the Canadian Tranche B Borrowing Base, the Germany Silicone Tranche A Borrowing Base, the Germany Silicone Tranche B Borrowing Base, the Germany Quartz Tranche A Borrowing Base, the Germany Quartz Tranche B Borrowing Base, the Additional M&E Borrowing Base, the U.S. Tranche A Borrowing Base and the U.S. Tranche B Borrowing Base.

Global Borrowing Base at any date, eighty-five percent (85%) of the sum of each of the following, without duplication: (a) cash of any Loan Party held overnight in such Loan Party’s Store Safe; (b) the cash balances held in Store Accounts of Loan Parties; (c) the amount payable under checks properly endorsed to a Loan Party and held in such Loan Party’s Store Safe or converted to electronic form; (d) clearing house transfers to a Loan Party initiated on the previous day and transfers of same-day funds to a Loan Party to be credited to such Loan Party’s Store Account; (e) cash held overnight by armored car carriers for the benefit of Loan Parties; (f) cash balances held in demand deposit accounts and/or investment accounts of Loan Parties on which the Administrative Agent, for the benefit of the Secured Parties, has been granted a first priority perfected Lien; and (g) Eligible CLP Assets of Loan Parties; provided that, in no event shall any of the items described in subparagraphs (a) through (g) above be included in any calculation of the “Global Borrowing Base” to the extent any of the same are subject to any Liens other than Permitted Liens.

Global Borrowing Base means the sum of the Canadian Borrowing Base, the Dutch Borrowing Base, the U.S. Borrowing Base and the U.K. Borrowing Base.

Global Borrowing Base shall have the meaning ascribed to such term in the U.S. Credit Agreement (without amendment except as permitted pursuant to the Intercreditor Agreement).

Global Borrowing Base the sum of the U.K. Borrowing Base and the U.S. Borrowing Base; provided, that the U.K. Borrowing Base may not exceed 50% of the Global Borrowing Base.