Initial Borrowing Base Amount definition
Initial Borrowing Base Amount means, on any date of determination and as determined by the Administrative Agent, the product of (A) the aggregate sum, for each Portfolio Investment (both owned by the Company and in respect of which there is an outstanding Purchase Commitment that has not yet settled (except as set forth in the proviso below)) of the Initial Market Value Amount of such Portfolio Investment, minus the Excess Concentration Amount in respect thereof and (B) the Facility Advance Rate; provided that, for the avoidance of doubt, (1) any Portfolio Investment which has traded but not settled after completion of the Settlement Period and (2) any Ineligible Investments will be excluded from the calculation of the Initial Borrowing Base Amount and assigned a value of zero for such purposes.
Initial Borrowing Base Amount means $170,000,000.
Initial Borrowing Base Amount means, with respect to each Subsidiary Borrower, the amount set forth next to the name of such Subsidiary Borrower on Annex II.
Examples of Initial Borrowing Base Amount in a sentence
The Initial Borrowing Base Amount for each Subsidiary Borrower in effect as of the Closing Date has been set by the Loan Administrator and the Lender, in consultation with the Subsidiary Borrowers, and is hereby acknowledged by each Subsidiary Borrower.
The indebtedness of each Subsidiary Borrower to the Lender resulting from the Loan made to such Subsidiary Borrower shall be evidenced by a Note of such Subsidiary Borrower payable to the order of the Lender in principal amount equal to such Subsidiary Borrower's Initial Borrowing Base Amount.