Specified Borrowing Base Account definition

Specified Borrowing Base Account means each Deposit Account that is specified by a Secured Guarantor as a “Specified Borrowing Base Account” and is subject to a Control Agreement and maintained by a Secured Guarantor at JPMorgan or an Affiliate thereof, with respect to which neither the Borrower nor any of its Subsidiaries shall have any right to access or make withdrawals from such Deposit Account unless a Borrowing Base Release Transaction would be permitted pursuant to Section 2.15 with respect to amounts on deposit in such Deposit Account.
Specified Borrowing Base Account means Account #WA793083000 at the Administrative Agent subject to a Control Agreement in the form of Exhibit 4 attached to the Security Agreement.
Specified Borrowing Base Account means a separate account designated and held by the Administrative Agent subject to a Control Agreement in the form of Exhibit 4 attached to the Security Agreement.

Examples of Specified Borrowing Base Account in a sentence

  • Each such deposit shall be held by the Collateral Agent in the Specified Borrowing Base Account pursuant to Section 9.01, as collateral for the payment and performance of the obligations of the Borrowers under this Agreement.

  • Subject to subsection (e) below, the Secured Guarantors shall have the exclusive right to manage and control all funds in the Borrowing Base Accounts (other than any Specified Borrowing Base Account), but, in any event, the Administrative Agent shall not have any fiduciary duty with respect to such funds or the Borrowing Base Accounts.

  • In addition, each Secured Guarantor shall have the right to make withdrawals from each Specified Borrowing Base Account if and to the extent that a Borrowing Base Release Transaction would be permitted pursuant to Section 2.15 with respect to amounts on deposit in such Specified Borrowing Base Account.

Related to Specified Borrowing Base Account

  • Domestic Borrowing Base means, at any time of calculation, 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.

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

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

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

  • Tranche A 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.

  • 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.

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

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

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

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

  • Facility LC Collateral Account is defined in Section 2.19.11.

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

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

  • 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.

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

  • 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.

  • Canadian Base Rate means the rate determined by the Agent as the higher of (i) the annual rate of interest announced by the Agent (or any of its branches) as being its “prime rate” for determining interest rates on Canadian Dollar-denominated commercial loans made by it in Canada and (ii) the BA Rate (after giving effect to any minimum rate set forth in the definition thereof) for a one month BA Interest Period commencing on such day (or, if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • U.S. Base Rate Loan means a Loan denominated in Dollars which bears interest at a rate based upon the U.S. Base Rate.

  • Revolving Advance has the meaning given in Section 2.1.

  • Adjusted Borrowing Value means, on any date of determination, (i) for any Eligible Loan Asset, an amount equal to the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time and (ii) for any Loan Asset that is not an Eligible Loan Asset, zero.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).