Gross Borrowing Base definition

Gross Borrowing Base has the meaning assigned to such term in Section 5.13(h).

Gross Borrowing Base means, at any time, the Borrowing Base as reported on the most recently delivered Borrowing Base Certificate as required hereunder, before application of the advance rates included therein.

Gross Borrowing Base means, at any time, the sum of:

Examples of Gross Borrowing Base in a sentence

• For the avoidance of doubt, no payments shall be allocated solely to Non-Extending Lenders following the occurrence and during the continuance of an Event of Default or if the Covered Debt Amount exceeds the Adjusted Gross Borrowing Base at such time.

• The primary benchmark applicable to U.S. dollars was changed from LIBOR to SOFR and the spread under the facility was changed from 2% to an all-in spread of 1.975%, depending on the Gross Borrowing Base at the time.

• For the avoidance of doubt, no payments shall be allocated solely to Non-Extending Lenders following the occurrence and during the continuance of an Event of Default and the Adjusted Gross Borrowing Base exceeds the Covered Debt Amount at such time.

• For the avoidance of doubt, no payments shall be allocated solely to Non-Extending Lenders following the occurrence and during the continuance of a Default or Event of Default or if the Covered Debt Amount exceeds the Gross Borrowing Base at such time.

• At all times after either (i) a Default by Dealer, or (ii) the Excess Availability for three (3) consecutive business days is less than the greater of (a) Fifteen Million Dollars ($15,000,000.00) or (b) 10% of Dealer’s Gross Borrowing Base, CDF may provide notice to such banks that thereafter all funds deposited in the lock-box or any such account immediately shall become the property of CDF, and any disbursements of the proceeds in the lock-box or any such account will only be made to CDF.

More Definitions of Gross Borrowing Base

Gross Borrowing Base means, as of any date of determination, the Borrowing Base as of such date without giving effect to any adjustment to the Borrowing Base pursuant to Section 5.13(f).

Gross Borrowing Base means the Borrowing Base without giving effect to any adjustment required pursuant to paragraphs (i) and (j) of Section 5.13.

Gross Borrowing Base means, with respect to any Obligor, an amount determined by the Borrowing Base Components attributable to such Obligor, as adjusted pursuant to the terms of the provisos set forth in the provisions governing calculation of the Gross Borrowing Base in Section 4.1.

Gross Borrowing Base shall at any time be determined by reference to the most recent Borrowing Base Certificate in effect, and shall be equal to the sum (without duplication) of the following components (each, a "Borrowing Base Component"):

Gross Borrowing Base is defined in the Bank Credit Agreement.

Gross Borrowing Base means, at any time, the products of (a)(x) the Dollar value of each class of Eligible Accounts of the Borrower and the Guarantors, minus (y) any Eligibility Reserve then in effect, multiplied by (b) the Advance Rate; provided, however, the amount of Gross Borrowing Base attributable to Eligible Accounts that are more than 120 days, but not more than 180 days, past the Discharge Date shall not exceed $100,000,000 at any time. AMENDED AND RESTATED CREDIT AGREEMENT XXXXX HEALTHCARE CORPORATION

Gross Borrowing Base means, at any time, the products of (a)(i) the Dollar value of each class of Eligible Accounts of the Borrower and the Guarantors, minus (ii) any Eligibility Reserve then in effect, multiplied by (b) the Advance Rate; provided, however, the amount of Gross Borrowing Base attributable to Eligible Accounts that are more than 120 days, but not more than 180 days, past the Discharge Date shall not exceed $250,000,000 at any time. Notwithstanding to the foregoing, to the extent acquired in a Permitted Acquisition, Eligible Accounts (“Acquired Accounts”) in an amount not to exceed $500,000,000 shall, upon the request of the Borrower, on the date of consummation of such Permitted Acquisition, subject to the application of the Advance Rate and the establishment by the AMENDED AND RESTATED CREDIT AGREEMENT XXXXX HEALTHCARE CORPORATION Administrative Agent of Availability Reserves in its Permitted Discretion, be included in the Gross Borrowing Base prior to completion of a field examination with respect to such Acquired Accounts (the “Requisite Field Exam”); provided, that (i) to the extent that the Requisite Field Exam has not been completed within 60 days (or, with the consent of the Administrative Agent, up to 90 days) following the consummation of such Permitted Acquisition, such Acquired Accounts shall automatically be excluded from the Gross Borrowing Base (without the need for delivery of an updated Borrowing Base Certificate) on the 61st (or such later day agreed to by the Administrative Agent as described above) day after the consummation of the Permitted Acquisition until the Requisite Field Exam has been completed, (ii) the Requisite Field Exam shall not be counted against any annual caps with respect to such examinations set forth in Section 7.6 (Access), (iii) the Administrative Agent shall have a perfected first priority security interest in such Acquired Accounts at all times and (iv) the Borrower shall provide a reasonably detailed summary of such Acquired Accounts at least five Business Days prior to such Permitted Acquisition. Notwithstanding the foregoing, Acquired Accounts shall not constitute more than 20.0% of the Borrowing Base (giving pro forma effect to the inclusion of such Acquired Accounts therein) prior to the delivery of the Requisite Field Exam.