Example ContractsClausesBorrowing Base
Borrowing Base
Borrowing Base contract clause examples

Borrowing Base. Agent shall have received a duly executed Borrowing Base Certificate which shall indicate that the aggregate amount of Eligible Accounts and Eligible Inventory is sufficient in value and amount to support Revolving Advances and Letters of Credit in the amount requested by Borrowers on the Closing Date;

Borrowing Base. Agent shall have received evidence from Borrowers that the aggregate amount of Eligible Receivables, is sufficient in value and amount to support Advances in the amount requested by Borrowers on the Closing Date;

Borrowing Base. Not applicable.

Borrowing Base. Agent shall have received evidence from Borrowers that the aggregate amount of Receivables and Inventory is sufficient in value and amount to support Advances in the amount requested by Borrowers on the Closing Date;

Borrowing Base. For the period from and including the Fourth Amendment Effective Date to but excluding the next Scheduled Redetermination Date, the amount of the Borrowing Base shall be $400,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments prior to the next Scheduled Redetermination Date from time to time pursuant to [Section 2.07(e)], [Section 2.07(f)] or [Section 8.13(c)].

Borrowing Base. Section 1.1 of the Loan Agreement is hereby amended by amending and restating the definition of “Borrowing Base” contained therein in its entirety to read as follows:

Borrowing Base. Each of the parties hereto hereby acknowledges that the Agent, in its sole discretion, may allow the Loan Parties to include certain of the New Guarantors’ In-Transit Inventory that does not constitute Eligible In-Transit Inventory because of a failure to satisfy the requirements of clause (iii) of the definition of Eligible In-Transit Inventory in the Credit Agreement (such In-Transit Inventory, the “Specified In-Transit Inventory”) in the Borrowing Base as “Eligible In-Transit Inventory” for up to ninety (90) days following the date of the Acquisition. Each of the parties hereto hereby acknowledges and agrees that the Agent, in its sole discretion, may require the Loan Parties to remove the Specified In-Transit Inventory from the Borrowing Base at any time unless the Specified In-Transit Inventory constitutes Eligible In-Transit Inventory (subject to the proviso to the definition of “Eligible In-Transit Inventory” in the Credit Agreement).

Borrowing Base. Immediately after giving effect to this Amendment, the Sale Agreement Amendment and the Assignment Agreements, the Aggregate Investment plus the Total Reserves on the date hereof will not exceed the Net Receivables Pool Balance on the date hereof.

Borrowing Base. If, at any time, the Revolver Usage on such date exceeds the lesser of the Borrowing Base or the Maximum Revolver Amount (any such excess being referred to as the “Overadvance”), then Borrowers shall, within one (1) Business Day, prepay the Obligations in accordance with Section 2.4(f) in an aggregate amount equal to any such excess, as applicable, except as otherwise provided with respect to any Protective Advance or Overadvance by Agent made in accordance with Section 2.3(d). Notwithstanding anything to the contrary set forth in this Agreement or any of the other Loan Documents, Borrower Agent and the other Borrowers shall not request, and Agent and Lenders shall not be required to make or provide, Advances or Letters of Credit, at any time that there exists an Overadvance.

Borrowing Base. Each of the Solar Assets in the Borrowing Base Pool is an Eligible Solar Asset.

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