Tranche A Borrowing Base definition

Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

Tranche A Borrowing Base at any time, the amount equal to:

Tranche A Borrowing Base means, as of any date of determination, the sum of:

Examples of Tranche A Borrowing Base in a sentence

• Aggregate Borrowing Base, Tranche A Borrowing Base and Tranche B 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).

• Such amendment shall include such changes as the Agent and the Borrowers shall deem necessary or desirable to clarify the administration of the Tranche A Facility or the Tranche B Facility and the Tranche A Borrowing Base or the Tranche B Borrowing Base hereunder in a manner consistent with this Agreement.

• The Company shall furnish to the Administrative Agent any information that the Administrative Agent may reasonably request regarding the determination and calculation of the Tranche A Borrowing Base or the Tranche B Borrowing Base including correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all Account Debtors in respect of the Accounts referred to therein.

• For purposes of calculating the Tranche A Borrowing Base, the Tranche B Borrowing Base and the Aggregate Borrowing Base, such calculation of Inventory shall be on a “first-in, first-out” basis.

• All calculations of Value, fundings of Loans, issuances of Letters of Credit and payments of Obligations shall be in Dollars and, unless the context otherwise requires, all determinations (including calculations of the Aggregate Borrowing Base, Tranche A Borrowing Base, Tranche B Borrowing Base and financial covenants) made from time to time under the Loan Documents shall be made in light of the circumstances existing at such time.

More Definitions of Tranche A Borrowing Base

Tranche A Borrowing Base means the “Tranche A Borrowing Base” as defined in the ABL Credit Agreement.

Tranche A Borrowing Base means, at any time, an amount equal to (a) the Trade Receivables Component plus (b) the Tranche A Inventory Component minus (c) without duplication, the then amount of all Availability Reserves and other Reserves as the Agents may at any time and from time to time in the exercise of their Permitted Discretion establish. The Tranche A Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(g).

Tranche A Borrowing Base means, at any time, an amount, equal to the lesser of (A) $575,000,000 and (B) the sum of (i) the amounts in the Principal Collection Subaccount, (ii) the product of (x) the Weighted Average Tranche A Advance Rate (excluding the portion of the Sale Settlement Pending Collateral allocable to Tranche A Collateral Loans from the calculation of the Weighted Average Tranche A Advance Rate) as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Tranche A Net Collateral Balance as of such date (excluding the portion of the Sale Settlement Pending Collateral allocable to the Tranche A Collateral Loans from the calculation of the Aggregate Tranche A Net Collateral Balance) and (iii) the aggregate sale price (expressed in Dollars) of the portion of the Sale Settlement Pending Collateral allocable to Tranche A Collateral Loans.

Tranche A Borrowing Base means, on any date, an amount equal to the sum of the Adjusted Fair Market Value of all Eligible Investments.

Tranche A Borrowing Base means, as of any date of determination by Agents, from time to time, an amount equal to the sum at such time of:

Tranche A Borrowing Base and "Tranche B Borrowing Base" shall mean both such terms as defined herein and ---- --- such terms as defined in the Facility II Agreement), (ii) the Collateral Value of the Tranche D Borrowing Base attributable to Construction Loans of the type described in the second proviso to the definition of "Construction Loan" (or, if any such Construction Loan is nonconforming solely due to the sales price or construction cost of any single-family tract home to be constructed in connection therewith, the sales price or construction cost of such home), (iii) the Collateral Value of the Tranche E Borrowing Base attributable to Servicing Loans of the type described in the proviso to the definition of "Servicing Loan", and (iv) the Collateral Value of the Tranche F Borrowing Base attributable to Foreclosure/Repurchase Loans of the type described in the proviso to the definition of "Foreclosure/Repurchase Loan," (collectively, the "Non-conforming Collateral Amount") (it being understood that for the purposes of this Paragraph 11(l), the terms "Collateral Value of the Tranche D Borrowing Base," "Collateral Value of the Tranche E Borrowing Base," "Collateral Value of the Tranche F Borrowing Base," "Construction Loan," "Servicing Loan" and "Foreclosure/Repurchase Loan" shall have the meanings given such terms in the Facility II Agreement) exceeds $20,000,000, the Administrative Agent, after consultation with the Companies, shall make such adjustments to the Tranche A Borrowing Base and the Tranche B Borrowing Base, and shall remove Collateral from the computation of some or all of such Borrowing Bases, as may be necessary to cause the Non- Conforming Collateral Amount to be less than or equal to $20,000,000.

Tranche A Borrowing Base and "Tranche B Borrowing Base" shall mean both such terms as defined herein and such terms as ---- --- defined in the Facility I Agreement), (C) the Collateral Value of the Tranche E Borrowing Base attributable to Servicing Loans of the type described in the proviso to the definition of "Servicing Loan", and (D) the Collateral Value of the Tranche D Borrowing Base attributable to Construction Loans of the type described in the second proviso to the definition of "Construction Loan" (or, if any such Construction Loan is nonconforming solely due to the sales price or construction cost of any single-family tract home to be constructed in connection therewith, the sales price or construction cost of such home), does not exceed $20,000,000, and (ii) the Collateral Value of the Tranche F Borrowing Base attributable to such a loan, when added to the Collateral Value of the Tranche F Borrowing Base attributable to all other such loans, does not exceed twenty percent (20%) of the Aggregate Tranche F Credit Limit.