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.
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 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.
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 A2 Noteholders fund any Loans if after giving effect to such Loans, (i) the aggregate Series A2 Note Outstanding Principal Balance outstanding hereunder would either (A) exceed the Series A2 Maximum Commitment or (B) result in a Senior Borrowing Base Deficiency or (ii) the Aggregate Note Principal Balance would exceed the Maximum Borrowing Base.
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.
The Senior Borrowing Base will be determined based on a cash flow model calculated as set forth below.
Under no circumstances shall the Series 2007-A2 Holders fund any Series 2007-A2 Loans if, after giving effect to such Series 2007-A2 Loans, (i) the aggregate Outstanding Principal Balance of the Series 2007-A2 Notes would either (A) exceed the aggregate Maximum Commitment for the Series 2007-A2 Notes or (B) result in a Senior Borrowing Base Deficiency, or (ii) the Aggregate Note Principal Balance would result in a Maximum Borrowing Base Deficiency.