Orderly Liquidation Value. Based on any Appraisal of the Pool Vessels, the aggregate Orderly Liquidation Value of the Pool Vessels must be equal to or greater than $71,000,000.00 throughout the term of this Agreement, provided, that in no event shall more than fifteen percent (15%) of the aggregate Orderly Liquidation Value of the Pool Vessels be attributable to Non-Qualified Pool Vessels. In the event any Appraisal done at any time indicates that the aggregate Orderly Liquidation Value of the Pool Vessels is less than $71,000,000.00, Borrower shall pledge additional vessels acceptable to Lender, and the Proceeds thereof, until the aggregate Orderly Liquidation Value of the Pool Vessels is equal to at least $71,000,000.00. Provided that no Default or Event of Default is continuing, in the event that any Appraisal done at any time indicates that the aggregate Orderly Liquidation Value of the Vessels exceeds $71,000,000.00, then, provided there is no existing Event of Default, at Borrower’s written request and at Borrower’s expense, Lenders agree to release Pool Vessels, commencing with Non-Qualified Pool Vessels, from the pool of assets, provided, that the aggregate Orderly Liquidation Value of the Pool Vessels may not be reduced to less than $71,000,000.00. Notwithstanding the foregoing, the value of any vessel acquired, retrofitted, rebuilt or upgraded with any Facility B Loan shall not be included for purposes of determining the aggregate Orderly Liquidation Value of the Pool Vessels as collateral while such vessel is under construction but may be included upon completion of work and redelivery to Borrower.
Orderly Liquidation Value. “A professional opinion of the estimated most probable price expressed in currency that the subject personal property could typically realize, as of the effective date of the appraisal, at a privately negotiated sale, properly advertised and professionally managed, by a seller obligated to sell over a time period of six to twelve months. Further, the ability of the asset group to draw sufficient prospective buyers to ensure competitive offers is considered. All assets are to be sold piecemeal, ‘as is, where is’, with the purchasers being responsible for removal of the assets at their own risk and expense. Any deletions or additions to the assets appraised could change the psychological or monetary appeal necessary to attain the value estimated.”
Orderly Liquidation Value. The “Orderly Liquidation Value” of any Vessel shall have the meaning customarily attributed to it in the equipment appraisal industry at the time of the valuation, less the estimated marshalling, reconditioning and sale expenses designed to maximize the resale value of such Vessel (as determined by the appraisal firm referred to above). The appraisal firm’s valuation shall be made with or without physical inspection at the Agent’s discretion.
Orderly Liquidation Value. Section 3.03 of the Loan Agreement is hereby amended by deleting each reference therein to “$50,000,000.00” and substituting therefor “$62,500,000.00”.
Orderly Liquidation Value. “Orderly Liquidation Value” means the net amount (after all costs of sale), expressed in terms of money, which Lender, in its good faith discretion, estimates which could reasonably be expected to result from a sale, as of a specific date, given a reasonable period to find a purchaser(s), with the seller being compelled to sell on an as-is/where-is basis.
Orderly Liquidation Value. With respect to any inventory, the net appraised orderly liquidation value of such inventory, as determined from time to time by the Administrative Agent by reference to the most recent appraisal of the inventory of the Borrowers performed by an appraisal firm acceptable to the Administrative Agent. On the Closing Date, the Orderly Liquidation Value shall be equal to thirty-four percent (34%) of Eligible Inventory of Hexcel and the Material Domestic Subsidiaries that are Guarantors. OTHER LABOR REGULATIONS. See Section 7.13. OUTSTANDING. With respect to the Revolving Credit Loans, the aggregate unpaid principal thereof as of any date of determination, with respect to Letters of Credit, any outstanding Letters of Credit and with respect to Reimbursement Obligations, the Unpaid Reimbursement Obligations. OVERDRAFT FACILITY. Each of the U.K. Overdraft Facility, the Austrian Overdraft Facility and the German Overdraft Facility. OVERDRAFT FACILITY SUBLIMIT. Each of the U.K. Overdraft Facility Sublimit, the Austrian Overdraft Facility Sublimit and the German Overdraft Facility Sublimit. OVERNIGHT RATE. For any day (a) as to Revolving Credit Loans denominated in Dollars, the weighted average interest rate paid by the Administrative Agent for federal funds acquired by the Administrative Agent, and (b) as to Revolving Credit Loans denominated in Pounds Sterling or Euros, the rate of interest per annum at which overnight deposits in Pounds Sterling or Euros, as the case may be, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by the Administrative Agent to major banks in the London interbank market.
Orderly Liquidation Value. The "Orderly Liquidation Value" of any Vessel shall have the meaning customarily attributed to it in the equipment appraisal industry at the time of the valuation, less the estimated marshalling, reconditioning and sale expenses designed to maximize the resale value of such Vessel (as determined by the appraisal firm referred to above). The appraisal firm's valuation shall be made with or without physical inspection at the Agent's discretion; PROVIDED HOWEVER, that no more than one physical inspection shall be permitted in any one twelve (12) month period.
Orderly Liquidation Value. (a) Based on the most recently completed Appraisal of the Pool Vessels delivered to the Administrative Agent, the aggregate Orderly Liquidation Value of the Pool Vessels shall at all times be not less than the greater of (i) $50,000,000.00 and (ii) an Orderly Liquidation Value such that an Asset Coverage Ratio of not less than 1.25 to 1.00 is maintained, provided, that in no event through the third anniversary of the Effective Date shall more than five percent (5%) of the aggregate Orderly Liquidation Value of the Pool Vessels be attributable to Non-Qualified Pool Vessels and thereafter Non-Qualified Pool Vessels shall not be included in Pool Vessels.
Orderly Liquidation Value. With respect to any inventory, the net appraised orderly liquidation value of such inventory, as determined from time to time by the Administrative Agent by reference to the most recent appraisal of the inventory of the Borrowers performed by an appraisal firm acceptable to the Administrative Agent.
Orderly Liquidation Value. At the relevant time of reference thereto with respect to any Eligible Rental Equipment, the amount which is the appraised value of the Eligible Rental Equipment on an orderly liquidation basis determined by the most recent appraisal thereof conducted pursuant to ss.10.14(b) or ss.13.15, as the case may be. ORIGINAL DIP ADMINISTRATIVE AGENT. As defined in the recitals. ORIGINAL DIP CREDIT AGREEMENT. As defined in the recitals. ORIGINAL DIP LENDERS. As defined in the recitals. ORIGINAL DIP SYNDICATION AGENT. As defined in the recitals. ORIGINAL FINAL ORDER. As defined in the recitals. OUTSTANDING. With respect to the Loans, the aggregate unpaid principal thereof as of any date of determination.
