Unused Borrowing Base definition
Examples of Unused Borrowing Base in a sentence
In consideration of each Lender’s commitment to make Loans, Borrower will pay to Administrative Agent for the account of each Lender commitment fees, determined on a daily basis by applying the applicable Commitment Fee Rate to such Lender’s Percentage Share of the Unused Borrowing Base determined at the end of each day during the Commitment Period.
For purposes of this section, (a) all LC Obligations shall be included as current liabilities, regardless of whether or not contingent or current, (b) any non-cash gains or losses resulting from the requirements of ASC Topic 815, formerly SFAS 133, or ASC Topic 410, formerly SFAS 143, shall be excluded, (c) the Unused Borrowing Base shall be included as a current asset, and (d) the current portion of the Loans shall be excluded from current liabilities.
Notwithstanding the foregoing, no commitment fee shall accrue on any Defaulting Lender’s Percentage Share of the Unused Borrowing Base and no Defaulting Lender shall be paid a commitment fee hereunder while it is a Defaulting Lender.
In consideration of each Lender’s commitment to make Loans, Borrower will pay to Administrative Agent for the account of each Lender a commitment fee determined on a daily basis by applying the Commitment Fee Rate to such Lender’s Percentage Share of the Unused Borrowing Base determined at the end of each day during the Commitment Period.
In consideration of each Lender’s commitment to make Loans, Borrower will pay to Administrative Agent for the account of each Lender a commitment fee determined on a daily basis by applying the Commitment Fee Rate to such Lender’s Applicable Percentage of the Unused Borrowing Base determined at the end of each day during the Commitment Period.
The second sentence of Section 2.6 of the Original Agreement is hereby amended to insert the word "and" immediately before clause (ii) thereof and to delete the phrase "and (iii) if (x) such issuance is requested on or after the Extension Date and (y) the Outstanding 7-7/8% Note Amount is greater than $10,000,000 at such time, the Outstanding 7/7/8% Note Amount shall not exceed the lesser of the Available Revolving Commitments of the Lenders and the Unused Borrowing Base" in its entirety.
For purposes of this Section 7.11, Borrower's Consolidated current liabilities will be calculated without including any payments of principal on the Notes which are required to be repaid within one year from the time of calculation, and Borrower's Consolidated current assets will include up to $5,000,000 of the Unused Borrowing Base.
For purposes of this section, (i) any non-cash gains or losses resulting from the requirements of ASC Topic 815, formerly SFAS 133 shall be excluded from current assets and from current liabilities, (ii) the Unused Borrowing Base shall be included as a current asset to the extent that such unused portion can be borrowed by Borrower without causing a Default after giving effect thereto, and (iii) current maturities of the Obligations shall be excluded from current liabilities.
For purposes of this section, (i) any current assets or current liabilities resulting from the requirements of SFAS 133 shall be excluded from current assets and from current liabilities, (ii) the Unused Borrowing Base shall be included as a current asset, and (iii) current maturities of the Secured Obligations shall be excluded from current liabilities.
Borrower shall pay to Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the Applicable Rate times the Unused Borrowing Base.