NYGB Borrowing Base definition

NYGB Borrowing Base means, as of any date of determination, the PV System Value of the Eligible Project Back-Log attributable to NY Projects.
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NYGB Borrowing Base means, as of any date of determination, an amount equal to the sum of (a) the Project Value of Eligible Project Back-Log attributable to NY Projects (less cash sale NY Projects in the Project Back-Log accounted for in clause (b)) and (b) the estimated final sale value of direct cash sale NY Projects in the Project Back-Log (regardless of whether the payment is made directly by the consumer or a lender or financing party on behalf of the consumer), in each case as calculated pursuant to the most recently delivered Borrowing Base Certificate as of such date of determination; provided, that, so long as the NYGB Borrowing Base as determined pursuant to the most recently delivered Borrowing Base Certificate is at least [***], the NYGB Borrowing Base as of any date of determination shall be deemed to be the highest value of the NYGB Borrowing Base calculated pursuant to any Borrowing Base Certificate delivered no more than one hundred fifty (150) days prior to such date of determination.
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NYGB Borrowing Base means, as of any date of determination, the appraised fair market value of the Eligible Project Back-Log attributable to [***].
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Examples of NYGB Borrowing Base in a sentence

  • Solely with respect to NYGB’s obligation to honor the applicable Request for Credit Extension, no NYGB Borrowing Base Deficiency shall exist as of the date of such Credit Extension, or would result from such proposed Credit Extension.

  • Solely with respect to NYGB’s obligation to honor any Request for Credit Extension, no NYGB Borrowing Base Deficiency exists as of the date of any such proposed Credit Extension, or would result from any such proposed Credit Extension.

  • No Borrowing Base Deficiency or NYGB Borrowing Base Deficiency exists as of the date hereof.

  • In such event, the Borrower shall be deemed to have requested a Revolving Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the conditions set forth in Section 4.02 (other than the delivery of a Loan Notice and the existence of a Borrowing Base Deficiency or a NYGB Borrowing Base Deficiency).

  • Section 5.01 Existence, Qualification and Power 100 Section 5.02 Authorization; No Contravention 100 Section 5.03 Governmental Authorization; Other Consents 100 Section 5.04 Binding Effect 101 Section 5.05 Financial Statements; No Material Adverse Effect 101 Section 5.06 Litigation 102 Section 5.07 No Default, Borrowing Base Deficiency or NYGB Borrowing Base Deficiency.

  • In such event, such Borrower shall be deemed to have requested a Revolving Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the conditions set forth in Section 4.02 (other than the delivery of a Loan Notice and the existence of a Borrowing Base Deficiency or a NYGB Borrowing Base Deficiency).


More Definitions of NYGB Borrowing Base

NYGB Borrowing Base means, as of any date of determination, an amount equal to the sum of (a) the Project Value of Eligible Project Back-Log attributable to NY Projects (less cash sale NY Projects in the Project Back-Log accounted for in clause (b)) and (b) the estimated final sale value of direct cash sale NY Projects in the Project Back-Log (regardless of whether the payment is made directly by the consumer or a lender or financing party on behalf of the consumer), in each case as calculated pursuant to the most recently delivered Borrowing Base Certificate as of such date of determination; provided, that, so long as the NYGB Borrowing Base as determined pursuant to the most recently delivered Borrowing Base Certificate is at least [***], the NYGB Borrowing Base as of any date of determination shall be deemed to be the highest value of the NYGB Borrowing Base calculated pursuant to any Borrowing Base Certificate delivered no more than one hundred fifty (150) days prior to such date of determination. “NYGB Borrowing Base Availability” means, as of any date of determination, the difference of the NYGB Borrowing Base minus NYGB’s Revolving Exposure as of such date of determination. “NYGB Borrowing Base Deficiency” means, at the time a Revolving Loan is to be made by NYGB or a participation in an L/C Credit Extension is to be purchased by NYGB, the failure of the amount of the NYGB Borrowing Base Availability as of such date of determination to equal or exceed the amount of such Revolving Loan or such participation in the L/C Credit Extension. Such determination shall be made based on NYGB’s Revolving Exposure as reflected in the Register. “NYGB Commitment Reduction Condition” means, as of any date of determination, that the NYGB Borrowing Base (prior to giving effect to the proviso in the definition thereof) pursuant to each Borrowing Base Certificate delivered during a period of one hundred fifty (150) days prior to such date of determination, other than any Borrowing Base Certificate delivered pursuant to Section 2.05(c)(i), has been less than [***] of the Commitment of NYGB as of such date of determination. “NY Project” means a Project (a) located in the State of New York with a PV System that has an aggregate installed footprint for solar arrays of 4,000 square feet or less or (b) located in the State of New York with a standalone energy storage device. “Obligations” means (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party ari...
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NYGB Borrowing Base definition set forth in Section 1.01 of the Credit Agreement is hereby deleted in its entirety and replaced with the following text:
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NYGB Borrowing Base means, as of any date of determination, the appraised fair market value PV System Value of the Eligible Project Back-Log attributable to [***]. [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.
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Related to NYGB Borrowing Base

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Borrowing Base Amount means:

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Total Borrowings means, in respect of the Company on a consolidated basis, as of a given date the aggregate of the following, without duplication:

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.