Borrowing Base Availability

Borrowing Base Availability. Means, at any time, (i) the amount determined pursuant to Section 3.3, based on the most recently delivered Borrowing Base Certificate, minus (ii) the aggregate amount of liability of Agent under then-outstanding Financial Letters of Credit, minus (iii) the aggregate principal amount of all Permitted Subordinated Debt that by its terms matures within one (1) year.

Borrowing Base Availability. Means, at any time, the amount (if any) by which the Borrowing Base exceeds Consolidated Senior Debt Borrowings.

Borrowing Base Availability. As of any date of determination, the amount by which the Borrowing Base then in effect exceeds the Aggregate Revolving Credit Extensions of Credit.