Borrowing Base Audit Condition

Borrowing Base Audit Condition. Shall mean, as of any date of determination, that (i) the Borrower has the ability to borrow not less than $50,000,000 on such date in the form of Revolving Loans pursuant to this Agreement and (ii) the Fixed Charge Ratio is not less than 2.0 to 1.0 as of the then most recently ended fiscal quarter of the Borrower.