Revolving Credit Borrowing Base definition

Revolving Credit Borrowing Base shall have the meaning given to such term in Section 2.1(b)(i).

Revolving Credit Borrowing Base means, as of any date of calculation, an amount equal to eighty percent (80%) of the Net Amount of Eligible Finance Contracts pledged to the Agent for the ratable benefit of the Banks pursuant to the Security Agreement; provided, however, if the ratio of the aggregate Dealer Discount to Net Indirect Loans originated in a trailing three (3) month period exceeds five percent (5.0%), such Revolving Credit Borrowing Base advance rate percentage of the Net Amount of Eligible Finance Contracts shall be reduced by two percentage points for each full percentage point that the ratio of the aggregate Dealer Discount to Net Indirect Loans originated in a trailing three (3) month period, as of any date of calculation, exceeds five percent (5.0%).

Revolving Credit Borrowing Base means (a) the amount, as determined from time to time by Lender equal to:

Examples of Revolving Credit Borrowing Base in a sentence

• If at any time, the sum of the aggregate principal amount of outstanding Revolving Loans plus Letter of Credit Obligations outstanding shall exceed the amount of the Revolving Credit Borrowing Base, CBI immediately shall prepay, subject to Section 4.8(c), the Revolving Loans, and (after all Revolving Loans have been repaid) cash collateralize the Letter of Credit Obligations, in an amount sufficient to eliminate such excess.

• Agreement between the Agent and CBI upon the Revolving Credit Borrowing Base calculation and reporting procedures and receipt by the Agent of a Revolving Credit Borrowing Base Certificate as of March 7, 2001, substantially in the form of Exhibit G and certified by the chief accounting officer or treasurer of CBI on the Original Closing Date to be true and correct as of February 24, 2001.

• The maximum aggregate amount outstanding at any time under the Revolving Credit Loans shall not exceed the Revolving Credit Borrowing Base then in effect.

• For the purposes of this Agreement, any determination as to whether there is availability within the Revolving Credit Borrowing Base for advances or extensions of credit shall be determined by Lender in accordance with the provisions of Section 2.2 hereof and shall be final and binding upon Borrowers.

• Subject to availability under the Revolving Credit Borrowing Base, the fulfillment of any other conditions to borrowing contained in this Agreement and the absence of a continuing Event of Default or any event which with the giving of notice or passage of time or both would become an Event of Default, Borrowers may borrow, repay and reborrow from time to time during the Contract Term.

More Definitions of Revolving Credit Borrowing Base

Revolving Credit Borrowing Base has the meaning ascribed to such term in the ABL Credit Agreement.

Revolving Credit Borrowing Base means, subject to the Revolving Credit Commitments, $15,000,000 (or $20,000,000 for so long as the Collateral Coverage Ratio exceeds 2.35:1 and the Borrowers have not entered into cash collateral arrangements or received a cash collateral order allowing for the Borrowers' use of cash collateral in an aggregate amount equal to or greater than $5,000,000) plus the product of Eligible Mortgage Receivables and the Advance Rate.

Revolving Credit Borrowing Base means the amount, as determined from time to time by Senior Lender, equal to the sum of the Net Collectible Value of all Eligible Receivables times the applicable Advance Rate.

Revolving Credit Borrowing Base shall have the meaning assigned to that term in Section 2.4 of this Agreement.

Revolving Credit Borrowing Base means prior to the Conversion Date (March 31, 1999) an amount equal to the LESSER of (A) the sum of (x) the LESSER of (i) fifty percent (50%) of Equity's most recent compressor parts inventory book value determined pursuant to GAAP (lower of cost or market value) or (ii) $1,000,000; plus (y) a multiple equal to five (5) times Equity=s compressor fleet's most recent six (6) month trailing Compressor Operating Income, adjusted quarterly as effective of the first day of each March, June, September and December commencing as of June 1, 1997, based on calendar quarters (initially the calendar quarter ending March 31, 1997) pursuant to the provisions hereof but, at the Bank's sole discretion, future fleet acquisitions by Equity may be included in the Revolving Credit Borrowing Base following due diligence; plus (z) the Oil and Gas Collateral Borrowing Base (as determined semi-annually in accordance with Section 4.1 hereof as rolled forward to the next Oil and Gas Borrowing Base determination date (either May 31 or November 30 as the case may be); or (B) 20,0000,000. Through May 31, 1997, the Revolving Credit Borrowing Base shall in no event exceed $13,897,000. The Revolving Credit Borrowing Base shall be redetermined initially as of the Initial Redetermined Borrowing Base date (May 31, 1997) and as of any subsequent Redetermined Borrowing Base date and as of the effective date of any sale pursuant to Section 3.2 hereof.

Revolving Credit Borrowing Base shall have the same meaning as the term “Borrowing Base” (and any component definition thereof), as such term is defined in the Revolving Credit Agreement as in effect on the Closing Date.

Revolving Credit Borrowing Base as defined in subsection ---------------------------------- 2.2 below.