EFFECTIVE ADVANCE RATE Sample Clauses
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EFFECTIVE ADVANCE RATE. As of any date of determination, the quotient (expressed as a percentage) obtained by dividing (x) the then aggregate unpaid principal amount of all of the Loans by (y) the Borrowing Base as of such date of determination.
EFFECTIVE ADVANCE RATE. The term "Effective Advance Rate" shall mean the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Agent hereunder. The Effective Advance Rate shall at no time exceed the "MAXIMUM EFFECTIVE ADVANCE RATE", DETERMINED AS FOLLOWS: (i) 95%; or (ii) SUCH HIGHER RATE AS MAY BE AGREED TO BY TFC IN WRITING IN ITS SOLE AND ABSOLUTE DISCRETION PROVIDED, HOWEVER, THAT THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF THE REVOLVING LOAN COMPONENT DIVIDED BY THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF ALL ELIGIBLE NOTES RECEIVABLE PLEDGED TO AGENT HEREUNDER WILL NOT EXCEED 75%. In addition, the Effective Advance Rate determined with respect to the aggregate of the Loan, the Additional Credit Facility and the Tranche C Facility (collectively "TFC's Facilities") shall at no time exceed: (i) 95% of the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to TFC, as agent or lender as applicable, under TFC's Facilities; or (
EFFECTIVE ADVANCE RATE. Section 1.1 (z) is hereby deleted in its entirety and in its place instead is substituted the following:
EFFECTIVE ADVANCE RATE. The term "Effective Advance Rate" shall mean the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Lender hereunder. The Effective Advance Rate shall at no time exceed 95% (the "Maximum Effective Advance Rate"). In addition, the Effective Advance Rate determined with respect to the aggregate of the Loan, the Tranche A Credit Facility and the Tranche B Credit Facility (collectively "TFC's Facilities") shall at no time exceed 95% of the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to TFC, as agent or lender as applicable, under TFC's Facilities.
EFFECTIVE ADVANCE RATE. The term "Effective Advance Rate" shall mean the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Lender hereunder. The Effective Advance Rate shall at no time exceed the "MAXIMUM EFFECTIVE ADVANCE RATE", DETERMINED AS FOLLOWS: (i) 95%; or (ii) SUCH HIGHER RATE AS MAY BE AGREED TO BY TFC IN WRITING IN ITS SOLE AND ABSOLUTE DISCRETION PROVIDED, HOWEVER, THAT THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF THE REVOLVING LOAN COMPONENT DIVIDED BY THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF ALL ELIGIBLE NOTES RECEIVABLE PLEDGED TO TFC HEREUNDER WILL NOT EXCEED 75%. In addition, the Effective Advance Rate determined with respect to the aggregate of
EFFECTIVE ADVANCE RATE. Section 1.1 (pppp) is hereby deleted in its entirety and in its place instead is substituted the following:
EFFECTIVE ADVANCE RATE. As of any date of determination, a fraction stated as a percentage, the numerator of which is equal to the then Aggregate Loan Principal Balance and the denominator of which is equal to the then Net Investment Value of all Collateral Containers that are subject to the MSC Lease on the Closing Date. Eligible Assignee. Any of the following: (a) Lender; (b) an Affiliate of a Lender; (c) an Approved Fund; and (d) any other Person (other than a natural person) approved by (i) the Administrative Agent, and (ii) unless an Event of Default has occurred and is continuing CAI (each such approval not to be unreasonably withheld or delayed); provided that notwithstanding the foregoing, “Eligible Assignee” shall not include the Borrower, the Borrower’s Affiliates or Subsidiaries or any Disqualified Institution to which CAI has not given its consent, or any party that (as of the date of any assignment) would be entitled to any incremental indemnity or other payments from Borrower on account of withholding, additional costs or any other matters described in Article 5 in an amount in excess of the amounts that the assignor Lender would be entitled to as of such date..
EFFECTIVE ADVANCE RATE. The Borrower shall not permit the overall effective advance rate (based on the Tier 1 Advance Rate, the Tier 2 Advance Rate, the Tier 3 Advance Rate and the Tier 4 Advance Rate) of the Aggregate Adjusted Purchased Loan Balances of all Eligible Loans to exceed 55% (the “Temporary Advance Rate Test”). Any breach of the Temporary Advance Rate Test shall be deemed to be an Early Termination Event under Section 8.1(b) of the Credit Agreement, subject to the two (2) Business Day cure period provided for in such Section.