Maximum Borrowing Base definition

Maximum Borrowing Base shall have the meaning assigned to such term in Section 1.3 of this Agreement.

Maximum Borrowing Base means the difference between (i) Pool GAV divided by 1.70, and (ii) Unsecured Liabilities (excluding the outstanding principal balance of the Loans and the Reimbursement Obligation), all as more particularly set forth on Line 14 of the Compliance Certificate

Maximum Borrowing Base. Pool", "Pool GAV", "Revolver Period", "Stabilized Properties", and "Total Liabilities" , and by inserting in lieu thereof the following definitions:

Examples of Maximum Borrowing Base in a sentence

• If the costs of such remediation and/or cure exceed $500,000 for any single Property, such estimated costs shall be subtracted from the Maximum Borrowing Base until such time as Credit Parties have remediated and/or cured (and have provided evidence satisfactory to Agent of such remediation and cure) such violation in accordance with Applicable Environmental Laws.

• Whenever the outstanding Revolving Facility Usage exceed the Maximum Borrowing Base, the Borrowers shall make, within one (1) Business Day after the Borrowers learn of such excess and whether or not the Administrative Agent has given notice to such effect, a mandatory prepayment of principal equal to the excess of the outstanding principal balance of the Revolving Credit Loans over the Maximum Borrowing Base, together with accrued interest on such principal amount.

• The Borrowers hereby grant to Administrative Agent, for the benefit of each of the Lenders, a security interest in all cash collateral pledged pursuant to this Section 5.7.2 [Maximum Borrowing Base Exceeded].

• Pursuant to Section 6.1(l) of the Credit Agreement, Borrowers shall provide to Agent a Compliance Certificate and a Borrowing Base Certificate, for the most recent period in reasonable detail, accurate and complete in all material respects, useable in determination of the Maximum Borrowing Base.

• All receivables included in the computation of the Maximum Borrowing Base must be acceptable to the Agent in all respects.

More Definitions of Maximum Borrowing Base

Maximum Borrowing Base means, with respect to all Borrowers at any time, the amount calculated as the sum of the following:

Maximum Borrowing Base means the maximum Borrowing Base in effect under this Agreement during the period commencing on the Conversion Date, and continuing until the Termination Date. The Maximum Borrowing Base shall be initially the amount of the Borrowing Base in effect on March 31, 1999; provided, that, such amount shall reduce on June 30, 1999 and on the last day of -------- ---- each September, December, March and June thereafter until the Termination Date by an amount equal to one twelfth (1/12) of the Borrowing Base in effect on March 31, 1999.

Maximum Borrowing Base means, as of any date of determination, the sum of (a) *** of the then Aggregate Adjusted Borrowing Value; (b) the Balances in the Senior Restricted Cash Account and the Junior Restricted Cash Account on such date; and (c) the Balance in the Engine Acquisition Account on such date, minus *** of the Borrowing Base Adjustment Amount as of such date.

Maximum Borrowing Base means the lesser of either (a) the Maximum Revolving Commitment or (b) the Borrowing Base.

Maximum Borrowing Base. At any time, an amount equal to the sum of (A) the difference between (i) the excess of (x) Aggregate Outstanding Loan Balance over (y) the Aggregate Excess Concentration Amount and (ii) the greater of (a) the Minimum Equity Amount and (b) the aggregate Outstanding Loan Balances of Eligible Loans of the five largest Obligors, plus (B) the amount on deposit (and not including any Excluded Amounts and any amounts on deposit in the Revolving Collections Account) in the Principal Collections Account received in reduction of the Outstanding Loan Balance of any Loan owned by the Borrower; provided that during the Amortization Period, the Maximum Borrowing Base shall be equal to the Advances Outstanding.”

Maximum Borrowing Base. Permitted Investments," "Termination Date" and "Wiser Canada" set forth in Section 1.1 of the Credit ----------- Agreement are amended to read in full as follows:

Maximum Borrowing Base means the lesser of either (i) the Maximum ---------------------- Commitment or (ii) the sum of (a) the value of the Borrower's Eligible Accounts times the Eligible Accounts Advance Rate plus (b) the value of the Borrower's Inventory times the Inventory Advance Rate.