Unused Borrowing Base definition

Unused Borrowing Base means, at any time of determination, the Borrowing Base minus the Facility Usage.
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Unused Borrowing Base at any time, the excess of the Borrowing Base at such time over the Total Revolving Extensions of Credit at such time.
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Examples of Unused Borrowing Base in a sentence

  • 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 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.

  • 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.

  • 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.

  • 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.

  • Unused Borrowing Base availability under the Revolver at closing (Borrowing Base less initial funding of Revolver at closing) to be no less than $4,000,000.

  • 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.

  • 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.

  • In consideration of Lenders' commitment to make --------------- Loans, Borrower will pay to Agent, on a quarterly basis during the Commitment Period, for pro rata distribution to each Lender in accordance with its Percentage Share, a commitment fee determined on a daily basis equal to the product of (i) the Commitment Fee Rate multiplied by (ii) the Unused Borrowing Base.

  • 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.

Related to Unused Borrowing Base

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

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

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

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

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

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

  • 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.

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

  • 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.

  • 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.

  • 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.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Unused Revolving Commitment means, for any Lender at any time, the excess of (i) such Lender’s Revolving Commitment at such time over (ii) such Lender’s Revolving Facility Exposure at such time.

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • 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.

  • Unused Revolving Line Facility Fee is defined in Section 2.4(c). [Signature page follows.]

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • 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.

  • Total Revolving Credit Exposure means, at any time, the sum of the outstanding principal amount of all Lenders’ Revolving Loans, their LC Exposure and their Swingline Exposure at such time; provided, that clause (a) of the definition of Swingline Exposure shall only be applicable to the extent Lenders shall have funded their respective participations in the outstanding Swingline Loans.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • 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.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Revolving Credit Aggregate Commitment means Seventy-Five Million Dollars ($75,000,000), subject to reduction or termination under Sections 2.11 or 9.2 hereof.