Tranche B Borrowing Base Deficiency definition

Tranche B Borrowing Base Deficiency means, as of any date of determination, an amount equal to the Tranche B Percentage of the Borrowing Base Deficiency.
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Tranche B Borrowing Base Deficiency means, at any time, the excess of Tranche B Obligations over the difference of the Tranche B Borrowing Base less the Borrowing Base in effect as of such date.
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Tranche B Borrowing Base Deficiency has the meaning set forth in Section 2.07(b)(i) herein.
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Examples of Tranche B Borrowing Base Deficiency in a sentence

  • For example, R might equal S2b, or S2b and S22c, or R could equal one or more principal components of S.

  • Upon any redetermination of the Borrowing Base or Tranche B Borrowing Base by reason of a sale of Oil and Gas Properties pursuant to Section 3.6 of this Agreement, the Agent shall notify KCS and the Borrowers of the amount of the Borrowing Base and Tranche B Borrowing Base after such redetermination and the amount of any Borrowing Base Deficiency or Tranche B Borrowing Base Deficiency which may exist on such date.

  • Subject to Section 7.01(bb) herein, the Borrowers may request the Agent to draw down the Required Reserve Amount for the purpose of curing a Tranche B Borrowing Base Deficiency and, if the Agent agrees to do so pursuant to Section 7.01(bb), the Borrowers' obligation to repay such Tranche B Borrowing Base Deficiency shall be satisfied to the extent of such payment by the Agent.

  • In connection with the initial Credit Extension requested by the Company, the Administrative Agent shall have received evidence satisfactory to it that (i) there is sufficient Revolving Availability with respect to any Tranche A Revolving Loans that are part of such Credit Extension and (ii) such Credit Extension will not result in a Tranche B Borrowing Base Deficiency.

Related to Tranche B Borrowing Base Deficiency

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

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

  • 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.

  • Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrowers to maintain Availability at least equal to the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

  • Borrowing Base Amount means:

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

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

  • Advance Deficiency As defined in Section 4.01(b).

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • 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.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

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

  • 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.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

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

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Canadian Overadvance has the meaning assigned to such term in Section 2.04(b).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

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

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.