Borrowing base certificate definition
WebFeb 6, 2024 · A borrowing base is the total sum of money that a creditor is willing to loan to a company. You determine the total sum by the value of the collateral that the company puts forward. A method known as “margining” determines the borrowing base, or the credit limit. This is where the creditor figures out a discount factor. WebSep 6, 2013 · as each of the foregoing is determined by Bank with reference to the most recent Borrowing Base Certificate delivered by Borrower. “Revolving Line” means a Credit Extension of up to Four Million and 00/100 Dollars ($4,000,000.00). (d) The following term and definition is added to Exhibit A in the appropriate alphabetical order:
Borrowing base certificate definition
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WebBorrowing base certificate is the official accounting document prepared by the borrower that certifies the size of the borrowing base of an organization with the previously … WebContra Account Definition in Accounting Debit-Credit Journal Entry. A contra account is an entry on the general ledger with a balance contrary to the normal balance for that categorization (i.e. asset, liability, or equity). The normal balances and impact on the carrying value are as follows: Asset → Debit Balance → Increase Asset Value
A borrowing base is the amount of money that a lender is willing to loan a company, based on the value of the collateral the company pledges. The borrowing base is typically determined by a method known as "margining," in which the lender determines a discount factor, which is then multiplied … See more Various assets may be used as collateral, including accounts receivable, inventory, and equipment. If a company approaches a lender to borrow money, the lender will assess the borrowing company's strengths and weaknesses. … See more Lenders feel more comfortable making loans rooted in borrowing bases since those loans are made against specific sets of assets. Furthermore, the borrowing base can be … See more Cabot Oil & Gas Corporation did not have any borrowings outstanding under its revolving credit facility as of March 31, 2016. Since then, on the first day of every April, its borrowing … See more The borrower must also provide the lender with certain information used to determine the borrowing base, including data on sales, collections, and inventory. With middle-market and … See more WebDec 23, 2010 · Aggregate Commitment “Agreement” means this Borrowing Base Revolving Line of Credit Agreement, as amended, restated, supplemented or otherwise modified from time to time. “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds …
WebBorrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form … WebFeb 16, 2024 · ABL literally means asset-based loan; thus, it is no surprise that the foundation of any ABL facility is the assets supporting the borrowing base. Unlike a cash-flow facility, where the lenders look to the borrower’s future cash flow, availability of the loan in an ABL facility is driven by the quality and value of the “borrowing base ...
WebThe borrowing base certificate details and certifies the quantity and value of collateral in each category that meets the borrowing-base eligibility criteria and a total amount of the …
WebNov 14, 2012 · This Borrowing Base Certificate ("Certificate") is submitted pursuant to that Revolving Credit Agreement dated as of November 14, 2012, by and between Regions Bank, an Alabama banking corporation, and RJ Securities, Inc., a Florida corporation (as it may have been amended, the "Credit Agreement"; capitalized terms not defined herein … fallbrook shooting todayWebFeb 6, 2024 · A borrowing base certificate is a document prepared by a lender in order to certify the amount of money borrowed against collateral. This document will list the value … contract works sum insuredWebApr 6, 2024 · The borrowing base is the total amount of collateral against which a lender will lend funds to a business. It presents a maximum cap on how much asset-based … contract work sunshine coastWebThe borrowing base certificate is a form prepared by the borrower and submitted to the lender periodically (usually monthly). It reflects the current status of the lender’s … contract work synonymWebBorrowing Base Report is defined in Section 6.2(a). Borrowing Certificate means a borrowing certificate, substantially in the form of Exhibit H hereto, to be delivered by the Borrower to the Administrative Agent in connection with each Borrowing. fallbrook unified school calendarWebAn asset-based structure offers companies flexibility to make acquisitions and restricted payments, such as distributions in excess of taxes and share … fallbrook townhomes lincoln neWebThe Borrowing Base will consist of the Collateral Values of the Eligible Collateral in the Borrowing Base as determined from time to time in accordance with this Agreement and subject to the limitations set forth in this Article 3. 3.2 Lot Term Limits. (a) Pre-Development Land. Pre-Development Land in each Approved Subdivision may be included ... fallbrook subdivision boerne tx