Borrowing Base
Definition

Maîtrise des liquidités (Cash Dominion)

Mécanisme par lequel tous les encaissements des comptes de recouvrement sont balayés quotidiennement pour rembourser le solde renouvelable en cours. La maîtrise totale (dure) s'applique dès le premier jour ; la maîtrise à déclenchement s'active lorsque la disponibilité excédentaire tombe en dessous d'un seuil (typiquement 10–25 % du montant de la facilité).

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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