NYGB Borrowing Base Availability definition
NYGB Borrowing Base Availability means, as of any date of determination, the difference of the NYGB Borrowing Base minus NYGB’s Revolving Exposure at such time.
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 arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof pursuant to any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding,
Examples of NYGB Borrowing Base Availability in a sentence
If NYGB ceases to be a Lender, then so long as NYGB continues not to be a Lender, and notwithstanding anything in this Agreement to the contrary, (i) Section 2.01(c)(ii), Section 2.05(c) and Section 11.07(e) of this Agreement shall not be applicable, (ii) the Borrower shall have no obligation to report any NYGB Borrowing Base, NYGB Borrowing Base Availability or any NYGB Borrowing Base Deficiency, (iii) any condition herein as to the absence of any NYGB Borrowing Base Deficiency shall not be applicable.