Common use of Borrowing Base Clause in Contracts

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 14 contracts

Sources: Credit Agreement (Kaiser Aluminum Corp), Credit Agreement (Farmer Brothers Co), Credit Agreement (Calavo Growers Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 9 contracts

Sources: Credit Agreement (SeaSpine Holdings Corp), Credit Agreement (Harte Hanks Inc), Credit Agreement (Power Solutions International, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 8 contracts

Sources: Credit Agreement (AerSale Corp), Credit Agreement (AerSale Corp), Credit Agreement (BlueLinx Holdings Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, as adjusted for Reserves established by Agent in accordance with Section 2.1(c), or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i2.4(f)(i)(A) in an aggregate amount equal to the amount of such excess.

Appears in 5 contracts

Sources: Credit Agreement (Liberty Energy Inc.), Credit Agreement (Liberty Energy Inc.), Credit Agreement (Liberty Energy Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers Borrower to Agent, or Agent (y) the Maximum Revolver Amount, in all cases as adjusted by Agent for Reserves established by Agent in accordance with Section 2.1(cfrom time to time), then Borrowers Borrower shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 4 contracts

Sources: Credit Agreement (Nuverra Environmental Solutions, Inc.), Credit Agreement (Nuverra Environmental Solutions, Inc.), First Lien Credit Agreement (Nuverra Environmental Solutions, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i2.3(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 4 contracts

Sources: Credit Agreement (MGP Ingredients Inc), Credit Agreement (MGP Ingredients Inc), Credit Agreement (MGP Ingredients Inc)

Borrowing Base. If, at as of any timedate, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 4 contracts

Sources: Credit Agreement (Unifi Inc), Credit Agreement (Unifi Inc), Credit Agreement (Unifi Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or Agent and (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c2.1(d), then the Borrowers shall immediately promptly (but in any event, within one Business Day) prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 4 contracts

Sources: Fifth Amendment to Credit Agreement and First Amendment to Guaranty and Security Agreement (Oil States International, Inc), Credit Agreement (Oil States International, Inc), Credit Agreement (Oil States International, Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within one (1) Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.3(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 3 contracts

Sources: Credit Agreement (Seventy Seven Energy Inc.), Credit Agreement (Seventy Seven Energy Inc.), Credit Agreement (Chesapeake Oilfield Operating LLC)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), or (y) the Maximum Revolver Amount, then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 3 contracts

Sources: Forbearance Agreement and Amendment (Salem Media Group, Inc. /De/), Credit Agreement (Salem Media Group, Inc. /De/), Credit Agreement (Salem Media Group, Inc. /De/)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within one Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 3 contracts

Sources: Credit Agreement (Nautilus, Inc.), Credit Agreement (Nautilus, Inc.), Credit Agreement (Nautilus, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within one Business Day, prepay the outstanding principal of the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 3 contracts

Sources: Credit Agreement (CPI Card Group Inc.), Credit Agreement (CPI Card Group Inc.), Credit Agreement (CPI Card Group Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to AgentLender, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent Lender in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i2.4(e)(i) in an aggregate amount equal to the amount of such excess.

Appears in 2 contracts

Sources: Credit Agreement (Emmis Communications Corp), Credit Agreement (Northwest Pipe Co)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within 1 (one) Business Day prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 2 contracts

Sources: Credit Agreement (Vector Group LTD), Credit Agreement (Vector Group LTD)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x1) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or Agent and (y2) the Maximum Revolver Amount, in all cases Amount (as adjusted for any Reserves established by Agent in accordance with against the Maximum Revolver Amount implemented pursuant to Section 2.1(c)), then Borrowers shall immediately promptly, but in any event, within one Business Day prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 2 contracts

Sources: Credit Agreement (H&E Equipment Services, Inc.), Credit Agreement (H&E Equipment Services, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within one (1) Business Day prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 2 contracts

Sources: Credit Agreement (Tessco Technologies Inc), Credit Agreement (Tessco Technologies Inc)

Borrowing Base. If, at any time, (Ai) the Revolver Usage on such date exceeds (B) the lesser of (xii) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers Borrower to Agent, or (y) the Maximum Revolver Amountthen Borrower shall promptly, but in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c)any event, then Borrowers shall immediately within 1 Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 2 contracts

Sources: Credit Agreement (Quantum Corp /De/), Credit Agreement (Quantum Corp /De/)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i2.4(g) in an aggregate amount equal to the amount of such excess.

Appears in 2 contracts

Sources: Debtor in Possession Credit Agreement (School Specialty Inc), Debtor in Possession Credit Agreement (School Specialty Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for any establishment, increase or decrease in Reserves established by Agent in accordance with Section 2.1(c)since the date of such Borrowing Base Certificate, then Borrowers shall immediately promptly, but in any event, within 1 Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 2 contracts

Sources: Credit Agreement (FTS International, Inc.), Credit Agreement (FTS International, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or and (y) the Maximum Revolver AmountAmount at such time, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event within one (1) Business Day thereafter, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 2 contracts

Sources: Credit Agreement (Vector Group LTD), Credit Agreement (Vector Group LTD)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within one Business Day prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Performant Financial Corp)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (yB) the Revolver Usage on such date exceeds the Maximum Revolver Amount, then in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(cthe case of (A) or (B), then Borrowers shall immediately shall, within 1 Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Erickson Air-Crane Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (yB) the Revolver Usage on such date exceeds the Maximum Revolver Amount, then in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(cthe case of (A) or (B), then Borrowers shall immediately shall, within 3 Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Debt Agreement (Erickson Inc.)

Borrowing Base. IfOther than in connection with any Extraordinary Advance, if, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (xi) the Maximum Revolver Amount and (ii) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers Borrower to Agent, or (y) the Maximum Revolver Amountthen Borrower shall promptly, but in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c)any event, then Borrowers shall immediately within 1 Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Quantum Corp /De/)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base less the Availability Block reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Harte Hanks Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers Borrower to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers Borrower shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Nuverra Environmental Solutions, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately within one Business Day prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Ranger Energy Services, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver AmountCommitments, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (BlueLinx Holdings Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within one Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f)(i)(A) in an aggregate amount equal to the amount of such excess.. 73 125672876_9 151541717_6

Appears in 1 contract

Sources: Amendment to Loan Documents (Nautilus, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base (as calculated in accordance with Section 2.1) reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Us Xpress Enterprises Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event within one (1) Business Day, prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Calumet Specialty Products Partners, L.P.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or and (y) the Maximum Revolver AmountAmount at such time, in all cases as 16 adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event within one (1) Business Day thereafter, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Vector Group LTD)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Administrative Agent, or (y) the Maximum Revolver AmountCredit, in all cases as adjusted for Reserves established by Collateral Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within one (1) Business Day prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Abl Credit Agreement (Cross Country Healthcare Inc)

Borrowing Base. If, at any time, (A) the Adjusted Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i2.4(f)(i)(A) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Delta Apparel, Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage plus the Prepetition Obligations and Reinstated Prepetition Obligations on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers Borrower to Agent, or Agent (y) the Maximum Revolver Amount, in all cases as adjusted by Agent for Reserves established by Agent in accordance with Section 2.1(cfrom time to time), then Borrowers Borrower shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Nuverra Environmental Solutions, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers Borrower to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers Borrower shall immediately prepay the Obligations or provide Letter of Credit Collateralization in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Ocz Technology Group Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within one Business Day, prepay the Obligations in accordance with Section 2.4(f)(i2.4(f)(i)(A) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Nautilus, Inc.)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to AgentBase, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall promptly, but in any event within 1 Business Days (or immediately during the existence of an Event of Default), prepay the Obligations in accordance with Section 2.4(f)(i2.4(f) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Renewable Energy Group, Inc.)

Borrowing Base. If, at any time, (A) the Adjusted Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Delta Apparel, Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers Borrower to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers Borrower shall immediately within 1 Business Day prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (Medical Action Industries Inc)

Borrowing Base. If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately promptly, but in any event, within 1 Business Day prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

Appears in 1 contract

Sources: Credit Agreement (K Swiss Inc)