Term Loan Borrowing Base definition

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, 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

• The Loan Parties shall take such steps as shall be required under the ABL Credit Agreement and the ABL Intercreditor Agreement, as applicable (including delivery of such ABL Borrowing Base Certificates and Term Loan Borrowing Base Certificates as may be required by the applicable ABL Agent and any Agent), to enable the ABL Administrative Agent to implement and maintain the Term Pushdown Reserve against the ABL Borrowing Base, as and when the Term Pushdown Reserve is greater than zero.

• 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.

• 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.

• 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).

• The Administrative Agent alone shall be authorized to determine eligibility and applicable advance rates under the Term Loan Borrowing Base, whether to impose or release any reserve, which determinations and judgments, if exercised in good faith, shall exonerate the Administrative Agent from liability to any Secured Party or other Person for any error in judgment.

More Definitions of Term Loan Borrowing Base

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

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 the “AUS Term Loan Borrowing Base” and the “US Term Loan Borrowing Base” (as defined in the Term Loan Agreement).

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

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 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.