Senior Borrowing Base definition

Senior Borrowing Base means the "Borrowing Base" as defined in and determined pursuant to the terms of the Senior Loan Agreement.
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Senior Borrowing Base means, at any time, the amount determined by ACFS and confirmed by the Master Collateral Agent with respect to all Designated Term Series pursuant to the cash flow model described in Annex 1.
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Senior Borrowing Base. The meaning specified in the Master Collateral and Intercreditor Agreement.
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Examples of Senior Borrowing Base in a sentence

  • Senior Sub Transactions Initially the Senior Sub Transactions will be comprised of the following Term securitizations: AmeriCredit Automobile Receivables Trust 2000-1 AmeriCredit Automobile Receivables Trust 2001-1 AmeriCredit Automobile Receivables Trust 2002-1 Senior Borrowing Base Calculation Using the Modeling Assumptions for each Designated Term Series and applying the Senior Loss Multiple to the Expected Remaining Losses, a schedule of monthly cash flows will be determined.

  • ACFS will initially make each calculation (or engage a Person to make such calculation on its behalf) of the Senior Borrowing Base, and the Master Collateral Agent will confirm each such calculation.

  • In the event that a Senior Borrowing Base Deficiency is outstanding, all Advances together with all accrued and unpaid amounts due under this Agreement or other Transaction Documents with respect to such Advances, including without limitation any amounts which may be due under Section 2.13 shall become immediately due and payable.

  • Before and after giving effect to such Loan, and the acquisition of any Additional Engine with the proceeds thereof, no Senior Borrowing Base Deficiency is or would be continuing.

  • Until this Agreement shall have been terminated in accordance with its terms, ACFS agrees that it will furnish to the Master Collateral Agent and each Facility Representative and each "Lender" party to the Revolving Credit Agreement (as defined therein), as soon as available and in any event on or before each Determination Date, a certificate in the form of Exhibit B (a "Senior Borrowing Base Certificate") setting forth the Senior Borrowing Base and each Senior Facility Notional Amount.

  • ACFS shall also deliver a Senior Borrowing Base Certificate to the Master Collateral Agent and each Facility Representative in connection with each additional Designated Series and each proposed change in a Senior Facility Notional Amount.

  • Each Lease Receivable included as an Eligible Lease Receivable in the calculation of the Senior Borrowing Base in each Servicer Report satisfied the requirements of eligibility contained in the definition of "Eligible Receivable" as of the date of such Servicer Report.

  • Under no circumstances shall the Series B2 Noteholders fund any Loans if after giving effect to such Loans, (i) the aggregate Series B2 Note Outstanding principal balance outstanding hereunder would either (A) exceed the Series B2 Maximum Commitment or (B) result in a Senior Borrowing Base Deficiency or (ii) the Aggregate Note Principal Balance would exceed the Maximum Borrowing Base.

  • The Senior Borrowing Base will be determined based on a cash flow model calculated as set forth below.

  • Before and after giving effect to such Loan, the aggregate Outstanding Principal Balance of all Series then Outstanding does not exceed the Senior Borrowing Base or the Junior Borrowing Base, as the case may be.


More Definitions of Senior Borrowing Base

Senior Borrowing Base means, as of any date of determination, the sum of (a) seventy percent (70%) of the then Aggregate Adjusted Borrowing Value; (b) the Balance on deposit in the Senior Restricted Cash Account on such date; and (c) the Balance in the Engine Acquisition Account on such date, minus seventy percent (70%) of the Borrowing Base Adjustment Amount as of such date.
Sample 1
Senior Borrowing Base means the lesser of (i) the product of (x) the Senior Receivables Balance (including the Senior Outstanding Balances of Lease Receivables included in the Lease Pool relating to such Settlement Date) as of the end of the month immediately preceding such Settlement Date MINUS the Overconcentration Amount as of the end of such month and (y) a percentage equal to 100% MINUS the Senior Required Enhancement Percentage and (ii) the Senior Receivables Balance (including the Senior Outstanding Balances of Lease Receivables included in the Lease Pool relating to such Settlement Date) as of the end of the month immediately preceding such Settlement Date MINUS the Overconcentration Amount as of the end of such month MINUS the Senior Required Enhancement Floor.
Sample 1
Senior Borrowing Base means as of any particular time the Eligible Assets of the Company or its Finance Subsidiaries less the sum of the current Indebtedness of the Company and any long term indebtedness of the Company which is senior in right of payment to the Note.
Sample 1
Senior Borrowing Base means, at any time, an aggregate amount determined as of such date for the Company and its Subsidiaries in accordance with the definition of the term “Borrowing Base” in the Senior ABL Facility.
Sample 1

Related to Senior Borrowing Base

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

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

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

  • 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.

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

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

  • 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.

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

  • Borrowing Base Amount means:

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

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

  • 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.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

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

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

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

  • 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.

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).