Term Loan Borrowing Base definition

Term Loan Borrowing Base means the “Borrowing Base” (as such term is defined in the Term Loan Credit Agreement).

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

Term Loan Borrowing Base means, as of any date of determination by Agent, from time to time, an amount equal to the sum at such time of:

Examples of Term Loan Borrowing Base in a sentence

• In the event that the outstanding balance of the Term Loan exceeds the Term Loan Borrowing Base (as defined in the related Term Loan Agreement) then a reserve will be imposed against availability under the Credit Facility.

• Concepts have been presented for articulated gates that would descend from a single apparatus to block the approach to the crossing in the normal direction of travel and continue down to block the exit lanes from the crossing (on one or both sides).

• The aggregate maximum principal amount of all Non-Distribution Term Loans shall not exceed the lesser of (1) $15,000,000 and (2) the Non-Distribution Term Loan Borrowing Base.

• Term Loan Borrowing Base calculations shall be consistent with historical methods of valuation and calculation, and otherwise satisfactory to the Administrative Agent in its Permitted Discretion (and not necessarily calculated in accordance with GAAP).

• Revolver Borrowing Base and Term Loan Borrowing Base calculations shall be consistent with historical methods of valuation and calculation, and otherwise satisfactory to Agent (and not necessarily calculated in accordance with GAAP).

More Definitions of Term Loan Borrowing Base

Term Loan Borrowing Base means the “Borrowing Base” as defined in the Term Loan Agreement, as in effect on the date hereof.

Term Loan Borrowing Base means, on any date of determination, an amount equal to the product of (i) the applicable Term Loan Advance Rate in effect as of such date, multiplied by (ii) the Term Loan Forecasted Net Collections in respect of all Term Loan Financed Eligible Portfolios on such date. For the avoidance of doubt, no Revolving Loan Forecasted Net Collections nor any Delayed Draw Term Loan Forecasted Net Collections shall be, or be deemed to be, Term Loan Forecasted Net Collections or be included in the determination of the Term Loan Borrowing Base.

Term Loan Borrowing Base means, with respect to any date of determination during the Term Loan Extension Period, a percentage of the Borrowing Base as of such date of determination equal to the percentage specified in Item 14 of Schedule 1.

Term Loan Borrowing Base means, at the relevant time of reference thereto, an amount determined by the Agent by reference to the most recent Term Loan Borrowing Base Certificate delivered to the Agent and the Lenders pursuant to subsection 7.1(i) which is equal to the lesser of:

Term Loan Borrowing Base and its related definition in Section 1.1 of the Existing Credit Agreement are hereby deleted in their entirety.

Term Loan Borrowing Base means 60% of the fair market appraised value of equipment (other than equipment which is subject to a purchase money security interest in favor of a third party creditor) (i) owned by the Borrower prior to the Acquisition, and (ii) to be purchased by the Borrower via the Acquisition.

Term Loan Borrowing Base means, at any time, the sum of (a) ABL Excess Availability at such time, plus (b) the NOLV Percentage identified in the most recent inventory appraisal multiplied by Eligible Mexican Inventory, valued at the lower of cost or market value, determined on a first-in-first-out basis, at such time, plus (c) the product of 70% multiplied by the FMV of Eligible Real Property at such time as such FMV is identified in the most recent acceptable appraisal, plus (d) the lesser of (i) the net book value of Eligible PP&E at such time and (ii) the PP&E Sublimit at such time.