Borrowing Base Availability definition

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.

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Borrowing Base Availability as of any date, the lesser of (a) the Commitments minus the Outstanding Amount and (b) the excess, if positive, of the Borrowing Base calculated in the most recently delivered Borrowing Base Certificate minus the Borrowing Base Debt on such date.

Borrowing Base Availability as to any Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Commitment Percentage of the Borrowing Base in effect at such time over (b) such Lender’s Aggregate Credit Exposure.

Examples of Borrowing Base Availability in a sentence

If the amount outstanding is equal to or greater than the Borrowing Base, Availability is 0.
If the amount outstanding is equal to or greater than the Borrowing Base, Availability is zero.
Attached hereto is a Borrowing Base Certificate setting forth a calculation of the Borrowing Base Availability after giving effect to the Loan requested hereby.
Within five (5) Business Days after becoming aware of any such disqualification, the Borrower shall deliver to the Agent a certificate reflecting such disqualification, together with the identity of the disqualified asset, a statement as to whether any Default or Event of Default arises as a result of such disqualification, and a calculation of the Borrowing Base Availability attributable to such asset.
The failure of the Borrower to comply with any of the limitations set forth in Sections 5.12(b), (c), (d) or (e) shall not result in an Event of Default hereunder, but rather the amount (in each instance) in excess of the subject limitation shall be excluded when calculating the Borrowing Base Availability.

Borrowing Base Availability means, as of any date, the lesser of (a)(i) the Aggregate Commitment minus (ii) the Outstanding Amount on such date and (b)(i) the Borrowing Base calculated in the Borrowing Base Certificate or Pro Forma Borrowing Base Certificate most recently delivered hereunder minus (ii) the Borrowing Base Debt on such date.

Borrowing Base Availability means, at any time, an amount (if positive) equal to (a) the Borrowing Base minus (b) the sum of (i) the aggregate outstanding principal amount of the Line of Credit Loans, (ii) the aggregate outstanding amount of the LC Obligations and (iii) the aggregate outstanding principal amount of the Swing Line Loans.

Borrowing Base Availability means the excess, if any, of the Borrowing Base over the sum of the Revolving Advances and the Letter of Credit Exposure.

Borrowing Base Availability means at any time the sum (without duplication) of the following assets that are (w) wholly-owned in fee simple absolute by Borrower or a Wholly-Owned Subsidiary of Borrower that is a Guarantor, (x) not subject to any ground lease, Lien, Negative Pledge, or other encumbrance or restriction on the ability of the applicable owner to dispose of, pledge or otherwise encumber such asset or any income therefrom (other than Liens permitted by Section 7.01), (y) not subject to any title, survey, environmental or other defects and (z) not part of a multifamily residential condominium project having four or more floors or twenty-five or more Housing Units:

Borrowing Base Availability means, at any time, the lesser of: (a) the Borrowing Base less current outstanding balances on the Revolving Credit Loans and Swingline Loans and less current outstanding balances on other “senior securities representing indebtedness” (as such term is used in the 1940 Act), if any or (b) the Revolving Credit Loan Commitments less current outstanding balances on the Revolving Credit Loans and Swingline Loans.

Borrowing Base Availability means, as adjusted from time to time pursuant to the terms hereof, the lesser of (a) an amount equal to (i) sixty percent (60%) of the Unencumbered Pool Value less (ii) any Unsecured Debt of the Consolidated Group (excluding any amount due under this Agreement); or (b) the Unencumbered Mortgageability Amount.