Borrowing Base

Borrowing Base. Means one hundred percent (100%) of Consolidated Eligible Accounts Receivable.

Borrowing Base. Means, from time to time, the sum of the following amounts, all as reflected from time to time in accordance with GAAP consistently applied in the consolidated balance sheet of the Borrower: (a) 100% of the Unrestricted Cash of the Loan Parties up to a maximum of $750,000,000 (with any excess cash being excluded from the Borrowing Base); (b) 100% of the Net Housing Unit Proceeds due to any Loan Party at closing as a result of the consummation of the sale of any Housing Unit, which Net Housing... Unit Proceeds have been paid to the closing agent handling such sale but which have not yet been received by such Loan Party; provided, however, that if, and to the extent that, such Net Housing Unit Proceeds which are reported as outstanding on the last day of any fiscal quarter of the Borrower are not received by such Loan Party on or before the tenth (10th) day following the end of any such fiscal quarter, such Net Housing Unit Proceeds shall not be included in the Borrowing Base; (c) 90% of the Net Book Value of all Housing Units Under Contract; (d) 75% of the Net Book Value of all Housing Units (including, without limitation, model Housing Units) that are not subject to a contract for sale; (e) 70% of the Net Book Value of all Finished Lots; (f) 50% of the Net Book Value of all Land Under Development; and (g) 30% of the Net Book Value of all Unimproved Entitled Land, provided that the sum of the amounts determined pursuant to clauses (f) and (g) shall not exceed 40% of the Borrowing Base (with any excess being excluded from the Borrowing Base); provided further, that notwithstanding anything to the contrary provided herein, any asset which is encumbered by a Lien (other than a Lien described in clauses (b), (c), (e) or (j) of the definition of "Permitted Liens") shall not be included in the calculation of the Borrowing Base pursuant to clauses (a) through (g) above. View More

Borrowing Base. Means, at any particular time, an amount equal to the sum of (a) eighty percent (80%) of Eligible Accounts plus (b) the lesser of (i) twenty-five percent (25%) of Eligible Inventory and (ii) $5,000,000.00.

Borrowing Base. Lesser of: (a) the Maximum Line; or (b) subject to change from time to time in the Lender's sole discretion: (i) 85% of Eligible Accounts of such Borrower, plus (ii) the lesser of (A) the sum of (1) Eligible Inventory of such Borrower consisting of raw materials multiplied by the Raw Materials Advance Rate plus (2) 55% of Eligible Inventory of such Borrower consisting of finished goods, or (B) the difference of (1) $6,500,000 less (2) the aggregate amount of Advances made to all Borrowers other... than such Borrower in reliance on Eligible Inventory View More

Borrowing Base. As of any Measurement Date, an amount equal to the lesser of: (a) the aggregate sum of (i) for each Eligible Loan as of such date, the product of (A) the Advance Rate for such Eligible Loan as of such date and (B) the OLB of such Eligible Loan as of such date, plus (ii) the aggregate amount on deposit in the Principal Collection Account reasonably determined by the Collateral Custodian to be payable to the Borrower on the next following Payment Date in accordance with Section 2.7 or Section... 2.8, as applicable minus (iii) the Excess Concentration Amount; or (b) (i) the sum of the OLB of all Eligible Loans as of such date minus (ii) the Required Minimum Equity Amount, plus (iii) the aggregate amount on deposit in the Principal Collection Account reasonably determined by the Collateral Custodian to be payable to the Borrower on the next following Payment Date in accordance with Section 2.7 or Section 2.8, as applicable minus (iv) the Excess Concentration Amount. View More

Borrowing Base. At any time, the amount equal to: (a) eighty-five percent (85%) of Eligible Accounts; plus (b) the lesser of (i) the lesser of (A) sum of (1) thirty percent (30%) multiplied by the Value of the Eligible WIP Inventory and (2) $5,000,000 and (B) sixty percent (60%) multiplied by the Value of the Eligible Finished Goods Inventory and (ii) $15,000,000; plus (c) the lesser of (i) eighty-five percent (85%) of Eligible ITT Receivables and (ii) $1,500,000; minus (d) Reserves established from time to... time by the Agent. View More

Borrowing Base. In connection with any sale or other disposition of Property or termination or monetization of any Swap Agreement pursuant to Section 9.12(d), the Borrowing Base shall be reduced, as and when applicable, in accordance with the provisions of Section 9.12(d)(iv) and shall remain in effect until the next date as of which the Borrowing Base is redetermined pursuant to this Agreement.

Borrowing Base. At any date of determination, the sum of: (i) 80% of Borrowers' Eligible Accounts; plus (ii) the Applicable Eligible Inventory Advance Amount; less (iii) such reserves as Lender, in its sole discretion, deems necessary or appropriate, taking into account each Borrower's and each Borrower's customers' financial condition and prospects, the nature and condition of the Collateral, applicable contingencies, potential wage liens, currency exchange risk and any other factor deemed material by Lender.... Such reserves may include reserves for any Letter of Credit Liabilities. The amount of the Borrowing Base shall be determined periodically from the most recent Borrowing Base Certificate delivered to the Lender pursuant to Section 8.1(d) View More

Borrowing Base. Eighty percent (80%) of Eligible Accounts, as determined by Bank from Borrower's most recent Transaction Report; provided, however, that Bank has the right to decrease the foregoing percentage in its good faith business judgment to mitigate the impact of events, conditions, contingencies, or risks which may adversely affect the Collateral or its value.

Borrowing Base. The Company.