Borrowing Base
Definition

Dominio del Efectivo (Cash Dominion)

Mecanismo por el que todos los cobros de las cuentas de recaudación se barren diariamente para amortizar el saldo revolving vivo. El dominio total (duro) se aplica desde el primer día; el dominio por activación se activa cuando la disponibilidad excedente cae por debajo de un umbral (típicamente el 10–25 % del importe de la facilidad).

Deep Dives

Borrowing Base Mechanics

Related Terms

Borrowing Base

The maximum loan amount a borrower may draw under a revolving credit facility, calculated as the sum of eligible collateral values multiplied by applicable advance rates. Distinct from a fixed loan: availability fluctuates as collateral values change; monthly BBC certification is standard.

Borrowing Base Certificate (BBC)

A periodic certification (typically monthly) by the borrower confirming the composition and value of the collateral pool. The BBC is the primary operational control document; lenders may field audit the BBC quarterly.

Exclusion Event

A trigger that removes an asset or LP commitment from the borrowing base (e.g., delinquency, counterparty downgrade, investor failure to fund). Common in both ABL (receivables aging out) and fund finance (LP sovereign immunity).

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