Singapore Borrowing Base definition

Singapore Borrowing Base means, at any time, with respect to the Singapore Borrower, the sum (expressed in Dollars, based on Exchange Rates prevailing at the time the applicable Borrowing Base Certificate is prepared) of:

Singapore Borrowing Base means, at any time, with respect to the Singapore Borrower, up to 85% of such Borrower’s Eligible Accounts at such time, minus Reserves related to such Borrower. The Singapore Borrowing Base shall be calculated and reported in Dollars; provided that, for the purposes of calculating the Aggregate Borrowing Base, such amount shall not exceed $10,000,000. The Agent may, in its Permitted Discretion, reduce the advance rate set forth above or reduce one or more of the other elements used in computing the Singapore Borrowing Base.

Singapore Borrowing Base at any time, with respect to the Applicable Singapore Borrower, an amount equal to the sum (expressed in Dollars, based on the Dollar Equivalent thereof) of, without duplication:

Examples of Singapore Borrowing Base in a sentence

• Singapore Overadvance Loan Balance: on any date, the Dollar Equivalent of the amount by which the aggregate Singapore Revolver Loans of the Applicable Singapore Borrower or all Singapore Borrowers, as the case may be, exceed the amount of the Singapore Borrowing Base of such Applicable Singapore Borrower or the Total Singapore Borrowing Base, as applicable, on such date.

• If at any time the Dollar Equivalent of the aggregate principal balance of all Singapore Revolver Loans owing by a Singapore Borrower exceeds the Singapore Borrowing Base of such Singapore Borrower (a “Singapore Overadvance”), the excess amount shall, subject to Section 5.2, be payable by the Applicable Singapore Borrower on demand by Agent.

• The form of Borrowing Base Certificate for the New Zealand Borrowing Base and the Singapore Borrowing Base will be specified in the joinder documentation for the New Zealand Borrowers and the Singapore Borrowers, respectively.

• Borrowing Base: the U.S. Borrowing Base, in the case of U.S. Borrower, or the Singapore Borrowing Base, in the case of Singapore Borrower; as the context may require, refers also to the U.S. Borrowing Base and the Singapore Borrowing Base, collectively.

• Singapore Allocated U.S. Availability: U.S. Availability designated by the North American Loan Party Agent for application to clause (c) of a Singapore Borrowing Base.

• Notwithstanding anything herein to the contrary, if an Overadvance exists (including as a result of any Asset Disposition), the applicable Borrower shall, on the sooner of Agent’s demand or the first Business Day after such Borrower has knowledge thereof, repay its outstanding Revolver Loans in an amount sufficient to reduce the principal balance of Revolver Loans to the U.S. Borrowing Base or Singapore Borrowing Base, as the case may be.

• Notwithstanding anything herein to the contrary, if an Overadvance exists, the applicable Borrower shall, on the sooner of Agent’s demand or the first Business Day after such Borrower has knowledge thereof, repay its outstanding Revolver Loans in an amount sufficient to reduce the principal balance of Revolver Loans to the U.S. Borrowing Base or Singapore Borrowing Base, as the case may be.

• Aggregate Borrowing Base: as of any date the sum of the Singapore Borrowing Base and the U.S. Borrowing Base.

• In no event shall Lenders have any obligation to honor a request for a Singapore Revolver Loan if, after giving effect thereto, (i) the aggregate principal amount of all Singapore Revolver Loans and all Singapore LC Obligations would exceed the lesser of the Singapore Borrowing Base and the Revolver Commitment, or (ii) the aggregate principal amount of all Revolver Loans and all LC Obligations would exceed the lesser of the Aggregate Borrowing Base and the Revolver Commitment.

• If at any time the Dollar Equivalent of the aggregate principal balance of all Singapore Revolver Loans owing by a Singapore Borrower exceeds the Singapore Borrowing Base of such Singapore Borrower (a “Singapore Overadvance”), the excess amount shall, subject to Section 5.2(b), be payable by the Applicable Singapore Borrower on demand by the Agent.

More Definitions of Singapore Borrowing Base

Singapore Borrowing Base means, at any time, with respect to the Singapore Borrower, up to 85% of such Borrower’s Eligible Accounts at such time, minus Reserves related to such Borrower. The Singapore Borrowing Base shall be calculated and reported in Dollars; provided that, for the purposes of calculating the Aggregate Borrowing Base, such amount shall not exceed$10,000,000. The Agent may, in its Permitted Discretion, reduce the advance rate set forth above or reduce one or more of the other elements used in computing the Singapore Borrowing Base.

Singapore Borrowing Base as of any date of determination by the Administrative Agent, from time to time, an amount equal to the sum of (a) up to 80% of the book value of the Singapore Eligible Accounts as of such date, less (b) the amount of any Reserves established by the Administrative Agent as of such date with respect to the Singapore Eligible Accounts or the “Singapore Borrowing Base”.