Borrowing Base Certificate: Definition, Example
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What is a Borrowing Base Certificate?
A bank may ask a small business owner to complete a borrowing base certificate so the lender can calculate the value of the company’s collateral and determine how much credit it is willing to extend to the business.
The certificate includes the company’s assets such as plant, property, equipment, inventory, cash on hand, and accounts receivable. The bank will use the certificate in a calculation (this varies by institution) to decide whether to issue the business a line of credit, the maximum amount that can be borrowed, the interest rate to charge, and other terms.
Borrowing Base Certificate Sample
1. | [Name of officer signing on behalf of the Borrower] is a duly elected, qualified and acting Authorized Financial Officer of the Borrower; and |
2. | The Borrowing Base as of ___________, 20__ (the “Report Date”) and the components thereof are calculated and set forth on Attachment 1 hereto. |
Reference:
Security Exchange Commission - Edgar Database, EX-10.1 3 exhbit101-exhibitcformofbo.htm EXHIBIT C FORM OF BORROWING BASE CERTIFIACATE, Viewed October 4, 2021, View Source on SEC.
Who Helps With Borrowing Base Certificates?
Lawyers with backgrounds working on borrowing base certificates work with clients to help. Do you need help with a borrowing base certificate?
Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate borrowing base certificates. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
Meet some of our Borrowing Base Certificate Lawyers
Emmanuel A.
Results-driven young lawyer with over 2 years of combined legal experience. Adept at legal research, contract drafting, reviewing policies, client relations, and case management. Possess a J.D. from Elon Law School and am a member of the Minnesota State Bar in good standing.
"Emmanuel is fantastic and very easy to work with! We are so pleased with his quality of work, responsiveness, and attention to detail, and look forward to working with him again on future projects."
June 6, 2024
Michael P.
I have been licensed since 2006 and have extensive experience in family law, personal injury, criminal law, and general litigation. I have a solo practice and I am seeking new opportunities.
June 23, 2024
kumar p.
24 years experience handling Estate planning, corporate transactions, real estate and drafting of contracts, have represented numerous start ups in New York City and have drafted all types of commercial and investment documents for clients.
June 11, 2024
Christopher S.
I've been a solo practitioner since becoming barred, though I've had part-time arrangements with firms and lots of as-needed of-counsel arrangements. I have extensive experience in family law, civil litigation, unlawful detainers, administrative law, with ample experience in probate court, criminal defense and other areas.
June 11, 2024
Merrill B.
I am an experienced commercial and technology transactions attorney who works with cross functional teams on large scale domestic and international commercial and technology B2B agreements for SaaS, software, and various commercial services, supporting sales, sourcing and business owners. This entails counseling, drafting and negotiation of IP, security, privacy, and liability issues, along with SLAs, SOWs, and Orders, giving business oriented advice, along with writing that is clear and concise. I enjoy giving practical business minded advice in a straight forward manner to clients, regardless of whether the issue is legal, business or financial.
Jack D.
Attorney licensed in Texas & Illinois
June 12, 2024
Daniel L.
I have 8 years of experience in commercial litigation. Clients have been in industries including chemical, trucking, heavy equipment and materials, industrial supplies, hospitality, and commercial real estate. I am barred in TN, and my NY bar admission is pending.
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