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, at any time, the amount equal to:

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 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 eight percent (8.0%), 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 eight percent (8.0%).

Examples of Revolving Credit Borrowing Base in a sentence

• No Lender shall be obligated to make available, nor shall the Agent make available, any Revolving Loans to the Borrower to the extent such Revolving Loan when added to the then outstanding Revolving Loans and all Letter of Credit Obligations would cause the aggregate outstanding Revolving Loans and all Letter of Credit Obligations to exceed the Revolving Credit Borrowing Base.

• 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.

• No Existing Lender shall be obligated to make available, nor shall the Agent make available, any Revolving Loans to CBI to the extent such Revolving Loan when added to the then outstanding Revolving Loans and all Letter of Credit Obligations would cause the aggregate outstanding Revolving Loans and all Letter of Credit Obligations to exceed the Revolving Credit Borrowing Base.

• The Borrower shall promptly repay to the Agent for the account of the Lenders from time to time the full amount of the excess, if any of (A) the amount of all Revolving Loans and Letter of Credit Obligations outstanding over (B) the lesser of (1) the Revolving Credit Committed Amount at such time and (2) the Revolving Credit Borrowing Base.

• CBI shall promptly repay to the Agent for the account of the Existing Lenders from time to time the full amount of the excess, if any of (A) the amount of all Revolving Loans and Letter of Credit Obligations outstanding over (B) the lesser of (1) the Revolving Credit Committed Amount at such time and (2) the Revolving Credit Borrowing Base.

More Definitions of Revolving Credit Borrowing Base

Revolving Credit Borrowing Base means, as of the date of determination thereof, an amount as determined by the Lender in its discretion in accordance with then-current practices, economic and pricing parameters, and customary procedures and standards established by the Lender from time to time for its petroleum industry customers including without limitation (a) an analysis of such reserve and production data with respect to the Mineral Interests of the Borrower and its Subsidiaries in all of its oil and gas properties, including the Mortgaged Properties, as provided to the Lender in accordance herewith, (b) an analysis of the assets, liabilities, cash flow, business, properties, prospects, management and ownership of the Borrower and its Affiliates, and (c) such other credit factors consistently applied as the Lender customarily considers in evaluating similar oil and gas credits. The Revolving Credit Borrowing Base shall initially be $5,000,000.

Revolving Credit Borrowing Base means for the Company and its Subsidiaries, excluding Toyota/Lexus Floor Plan Borrowers, on a consolidated basis the positive difference between:

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, at any date of determination, (i) sixty percent (60%) of the aggregate amount of Eligible Receivables on such date, less (ii) certain reserves established by the Administrative Agent in its sole discretion from time to time.

Revolving Credit Borrowing Base. An amount equal to the sum of 80% of the Base Accounts.

Revolving Credit Borrowing Base means, at any time, an amount equal to the sum of (a) an amount equal to twenty percent (20%) of the amount of Medicare and Medicaid receivables of the Borrower and the Guarantors having maturities of less than ninety (90) days, PLUS (b) an amount equal to eighty-five percent (85%) of the amount of private insurance accounts receivable of the Borrower and the Guarantors having maturities of less than ninety (90) days.

Revolving Credit Borrowing Base means for the Company and its Subsidiaries, on a consolidated basis, the sum of the following items, without duplication, on which the Administrative Agent holds a valid and perfected first priority Lien: