Tranche A-1 Borrowing Base definition
Examples of Tranche A-1 Borrowing Base in a sentence
The first Revolving Loans made shall be Tranche A-1 Loans up to the amount equal to the lesser of the Tranche A-1 Borrowing Base or the Tranche A-1 Maximum Credit.
Notwithstanding anything to the contrary contained herein, other than Swing Line Loans or Letter of Credit Accommodations, Borrowers shall not request any Tranche A Revolving Loans, and the Tranche A Lenders shall not be required to make any Tranche A Revolving Loans, unless and until the outstanding principal amount of the Tranche A-1 Revolving Loans at such time are equal to the lesser of the Tranche A-1 Borrowing Base or the Tranche A-1 Maximum Credit.
The Administrative Agent shall have received prior to the Closing Date a Borrowing Base Certificate which calculates the Tranche A Borrowing Base and the Tranche A-1 Borrowing Base for the month most recently ended prior to the Closing Date.
Moreover, the US Tranche A1 Loans outstanding to the US Borrowers shall not exceed at any time the Aggregate US Tranche A1 Borrowing Base.
The Tranche A Borrowing Base and the Tranche A-1 Borrowing Base shall be determined from time to time by Agent by reference to the most recent Borrowing Base Certificate delivered by the Borrowers.