Document ID: 16281

Text:
Accelerated Borrowing Base Delivery Event means any of the following events: (a) the occurrence and continuance of any Event of Default, (b) if no Loans are outstanding and the aggregate amount of L/C Obligations (excluding any L/C Obligations that have been Cash Collateralized) is less than or equal to $2,500,000 , Liquidity is less than the greater of (x) seventeen and a half percent (1 7.5% ) of the Loan Cap and (y) $20,000,000 , (c) if any Loan is outstanding or the aggregate amount of L/C Obligations (excluding any L/C Obligations that have been Cash Collateralized) is in excess of $2,500,000 , Excess Availability is less than the greater of (x) seventeen and a half percent (1 7.5% ) of the Loan Cap and (y) $20,000,000 , or (d) upon written request of the Administrative Agent during any period in which Excess Availability is less than $10,000,000 , in the case of each of clauses (a), (b), (c) and (d), for at least two (2) consecutive Business Days. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been cured or waived, (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of clause (b) of the immediately preceding sentence, until the date Liquidity shall have been at least equal to the greater of (x) seventeen and a half percent (1 7.5% ) of the Loan Cap and (y) $20,000,000 , (iii) if the Accelerated Borrowing Base Delivery Event arises as a result of clause (c) of the immediately preceding sentence, until the date Excess Availability shall have been at least equal to the greater of (x) seventeen and a half percent (1 7.5% ) of the Loan Cap and (y) $20,000,000 , and/or (iv) if the Accelerated Borrowing Base Delivery Event arises as a result of clause (d) of the immediately preceding sentence, until the date Excess Availability shall be at least $10,000,000 , in the case of each of clauses (i), (ii) and (iii), for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

Named Entities:
61
66
Principal
78
82
Percentage
84
88
Percentage
98
103
Principal
205
210
Principal

Tokenized Text:
Accelerated
Borrowing
Base
Delivery
Event
means
any
of
the
following
events
:
(
a
)
the
occurrence
and
continuance
of
any
Event
of
Default
,
(
b
)
if
no
Loans
are
outstanding
and
the
aggregate
amount
of
L
/
C
Obligations
(
excluding
any
L
/
C
Obligations
that
have
been
Cash
Collateralized
)
is
less
than
or
equal
to
$
2
,
500
,
000
,
Liquidity
is
less
than
the
greater
of
(
x
)
seventeen
and
a
half
percent
(
1
7
.
5
%
)
of
the
Loan
Cap
and
(
y
)
$
20
,
000
,
000
,
(
c
)
if
any
Loan
is
outstanding
or
the
aggregate
amount
of
L
/
C
Obligations
(
excluding
any
L
/
C
Obligations
that
have
been
Cash
Collateralized
)
is
in
excess
of
$
2
,
500
,
000
,
Excess
Availability
is
less
than
the
greater
of
(
x
)
seventeen
and
a
half
percent
(
1
7
.
5
%
)
of
the
Loan
Cap
and
(
y
)
$
20
,
000
,
000
,
or
(
d
)
upon
written
request
of
the
Administrative
Agent
during
any
period
in
which
Excess
Availability
is
less
than
$
10
,
000
,
000
,
in
the
case
of
each
of
clauses
(
a
)
,
(
b
)
,
(
c
)
and
(
d
)
,
for
at
least
two
(
2
)
consecutive
Business
Days
.
For
purposes
of
this
Agreement
,
the
occurrence
of
an
Accelerated
Borrowing
Base
Delivery
Event
shall
be
deemed
continuing
(
i
)
so
long
as
such
Event
of
Default
has
not
been
cured
or
waived
,
(
ii
)
if
the
Accelerated
Borrowing
Base
Delivery
Event
arises
as
a
result
of
clause
(
b
)
of
the
immediately
preceding
sentence
,
until
the
date
Liquidity
shall
have
been
at
least
equal
to
the
greater
of
(
x
)
seventeen
and
a
half
percent
(
1
7
.
5
%
)
of
the
Loan
Cap
and
(
y
)
$
20
,
000
,
000
,
(
iii
)
if
the
Accelerated
Borrowing
Base
Delivery
Event
arises
as
a
result
of
clause
(
c
)
of
the
immediately
preceding
sentence
,
until
the
date
Excess
Availability
shall
have
been
at
least
equal
to
the
greater
of
(
x
)
seventeen
and
a
half
percent
(
1
7
.
5
%
)
of
the
Loan
Cap
and
(
y
)
$
20
,
000
,
000
,
and
/
or
(
iv
)
if
the
Accelerated
Borrowing
Base
Delivery
Event
arises
as
a
result
of
clause
(
d
)
of
the
immediately
preceding
sentence
,
until
the
date
Excess
Availability
shall
be
at
least
$
10
,
000
,
000
,
in
the
case
of
each
of
clauses
(
i
)
,
(
ii
)
and
(
iii
)
,
for
thirty
(
30
)
consecutive
calendar
days
,
in
which
case
an
Accelerated
Borrowing
Base
Delivery
Event
shall
no
longer
be
deemed
to
be
continuing
for
purposes
of
this
Agreement
.
The
termination
of
an
Accelerated
Borrowing
Base
Delivery
Event
as
provided
herein
shall
in
no
way
limit
,
waive
or
delay
the
occurrence
of
a
subsequent
Accelerated
Borrowing
Base
Delivery
Event
in
the
event
that
the
conditions
set
forth
in
this
definition
again
arise
.