Determination of Advance Rate Sample Clauses

Determination of Advance Rate. From the Effective Date through the Maturity Date, subject to the terms and conditions set forth herein, the Advance Rate shall be [***] of each Eligible Receivable. Notwithstanding anything in this Agreement to the contrary: (i) Lender shall not be required to permit advances from and after MARCH 1, 2019; and (ii) in the event of the occurrence and continuation of a Level 1 Trigger, the Advance Rate then in effect shall be reduced by an additional [***].”
Sample 1
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Determination of Advance Rate. From the Effective Date through the Maturity Date, subject to the terms and conditions set forth herein, the Advance Rate shall be [***] of each Eligible Receivable; provided, however, that if: (i) on JUNE 30, 2018, the maturity date of the Senior Secured Indebtedness of Parent has not been extended beyond JUNE 30, 2018, the Advance Rate shall be immediately reduced to [***] of each Eligible Receivable; and (ii) on SEPTEMBER 30, 2018, the maturity date of the Senior Secured Indebtedness of Parent has not been extended beyond SEPTEMBER 30, 2018, the Advance Rate shall be immediately reduced to [***] of each Eligible Receivable; provided, however, that if such extension of the maturity date of the Senior Secured Indebtedness of Parent occurs after either of the dates provided in this Section 2(c), from and after the date of such extension, the Advance Rate shall be as otherwise provided herein. Notwithstanding anything in this Agreement to the contrary: (i) Lender shall not be required to permit advances from and after SEPTEMBER 30, 2018; and (ii) in the event of the occurrence and continuation of a Level 1 Trigger, the Advance Rate then in effect shall be reduced by an additional [***].
Sample 1
Determination of Advance Rate. (i) From the Effective Date until FEBRUARY 28, 2021, the Advance Rate shall be SEVENTY-SEVEN AND ONE HALF OF ONE PERCENT (77.50%) of each Eligible Receivable; (ii) from FEBRUARY 28, 2021 until MARCH 30, 2021, the Advance Rate shall be SEVENTY-TWO AND ONE HALF OF ONE PERCENT (72.50%) of each Eligible Receivable, and (iii) from MARCH 30, 2021, through the Maturity Date the Advance Rate shall be SIXTY-SEVEN AND ONE HALF OF ONE PERCENT (67.50%) of each Eligible Receivable. Notwithstanding anything in this Agreement to the contrary in the event of the occurrence and continuation of a Level 1 Trigger, the Advance Rate then in effect shall be reduced by TEN PERCENT (10.00%).
Sample 1
Determination of Advance Rate. From the Effective Date through the Maturity Date, subject to the terms and conditions set forth herein, the Advance Rate shall be, with respect to all Eligible Receivables, (i) EIGHTY PERCENT (80.00%) from DECEMBER 12, 2018 through JANUARY 15, 2019, (ii) SEVENTY-FIVE PERCENT (75.00%) from JANUARY 16, 2019 through FEBRUARY 15, 2019, and (iii) SEVENTY-TWO PERCENT (72.00%) thereafter. Notwithstanding anything in this Agreement to the contrary: (i) Lender shall not be required to permit advances from and after MARCH 1, 2019; and (ii) in the event of the occurrence and continuation of a Level 1 Trigger, the Advance Rate then in effect shall be reduced by TEN PERCENT (10.00%).
Sample 1
Determination of Advance Rate 
Sample 1

Related to Determination of Advance Rate

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Number and Amount of LIBOR Loans; Determination of Rate Each Borrowing of LIBOR Loans when made shall be in a minimum amount of $1,000,000, plus any increment of $500,000 in excess thereof. No more than ten (10) Borrowings of LIBOR Loans may be outstanding at any time, and all LIBOR Loans having the same length and beginning date of their Interest Periods shall be aggregated together and considered one Borrowing for this purpose. Upon determining LIBOR for any Interest Period requested by Borrowers, Agent shall promptly notify Borrowers thereof by telephone or electronically and, if requested by Borrowers, shall confirm any telephonic notice in writing.

  • Notification of Advances, Interest Rates and Prepayments The Administrative Agent will notify each Lender of the contents of each Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder not later than the close of business on the Business Day such notice is received by the Administrative Agent. The Administrative Agent will notify each Lender of the interest rate applicable to each LIBOR Rate Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Determination of Borrowing Base The Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate and Monthly Servicing Report delivered to the Administrative Agent.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Determination of LIBOR ARTICLE V

  • Alternate Rate of Interest; Illegality (a) If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Determination of Adjustments If any questions will at any time arise with respect to the Exercise Price or any adjustment provided for in Section 4.8, such questions will be conclusively determined by the Company’s Auditors, or, if they decline to so act any other firm of certified public accountants in the United States of America that the Company may designate and who will have access to all appropriate records and such determination will be binding upon the Company and the Holders of the Warrants.

  • Procedure for Revolving Advances Borrowing (a) Borrower may notify Agent prior to 1:00 p.m. on a Business Day of Borrower’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Agent or Lenders, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Agent or Lenders, and such request shall be irrevocable.

  • Determination of Amount Outstanding On each Quarterly Date and, in addition, promptly upon the receipt by the Administrative Agent of a Currency Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Multicurrency Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Loan, determined as of such Quarterly Date or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 11:00 a.m., New York City time, on a Business Day, on such Business Day or, in the case of a Currency Valuation Notice otherwise received, on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof.

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