Adjusted Borrowing Base

Adjusted Borrowing Base. Shall mean, at any time of determination thereof, an amount equal to the "Borrowing Base" (as such time is defined in the Senior Lienholder Loan Agreement as in effect on the date of this Agreement) at such time, adjusted as follows: the Inventory Loan Cap shall be in amount equal to (i) $15.0 million, plus (ii) any increase in the foregoing amount that may be agreed to by the Agent with the Borrowers at any time that no Senior Lienholders Event of Default or Subordinated Lienholder Event of... Default shall exist, but in no event, without the written consent of the Subordinated Lienholder, shall such amount exceed $20.0 million. View More