ABL Borrowing Base means the “Borrowing Base” as such term is defined in the ABL Credit Agreement.
ABL Borrowing Base means, at any time, an amount equal to (a) the Trade Receivables Component plus (b) the Inventory Component plus (c) the Credit Card Receivables Component minus (d) the amount of any FILO Reserve and all other Reserves as may have been established in accordance with Section 2.25 at such time. The ABL Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(q), the FILO Reserve and Reserves established pursuant to Section 2.25.
ABL Borrowing Base means, as of any date of determination thereof, the “Borrowing Base” as defined in the ABL Loan Agreement as in effect as of the date hereof.
Examples of ABL Borrowing Base in a sentence
At any time that the Term Loan Exposure exceeds the Term Loan Exposure Limitation (an “Overadvance”), the Loan Parties shall cause the Term Loan Push-Down Reserve to be maintained against the ABL Borrowing Base.
The Administrative Agent shall have received a Borrowing Base Certificate which calculates the Borrowing Base as of March 30, 2024 and an ABL Borrowing Base Certificate which calculates the ABL Borrowing Base as of March 30, 2024.
More Definitions of ABL Borrowing Base
ABL Borrowing Base means the “borrowing base” in respect of the Prepetition ABL Facility or such similar term as defined in the Prepetition ABL Facility Documents.
ABL Borrowing Base means that portion of the Borrowing Base equal to the sum of the amount represented by clauses (a)-(h) of the Borrowing Base.
ABL Borrowing Base means, at any time of calculation, an amount equal to: (a) ninety percent (90%) multiplied by the Eligible Credit Card Receivables; plus (b) ninety percent (90%) multiplied by the Eligible Wholesale Receivables; plus (c) ninety percent (90%) of the Net Recovery Percentage of Eligible Inventory multiplied by the Cost of such Eligible Inventory (provided, that, in no event will the aggregate amount of Eligible In-Transit Inventory included in the ABL Borrowing Base at any time exceed twenty-five percent (25%) of the amount of Eligible Inventory), plus (d) fifty percent (50%) of the Appraised Value of Eligible Real Estate as such Appraised Value is identified in the most recent Acceptable Appraisal of Real Estate at such time (provided, that, in no event will the aggregate amount of Eligible Real Estate included in the ABL Borrowing Base at any time exceed twenty-five percent (25%) of the amount of the ABL Borrowing Base at such time), less - 1- 6245414.1
ABL Borrowing Base means, with respect to an Obligor at any time, a formula that limits the permissible advances that can be made against the outstanding principal balance of a Note Receivable owing by such Obligor as a function of ABL Borrowing Base Collateral of such Obligor, as prescribed by Borrowers’ Approved Forms with such Obligor in accordance with the Required Procedures.
ABL Borrowing Base or otherwise change the definition of the term “ABL Borrowing Base” or any component definition thereof if as a result thereof the amounts available to be borrowed by the Borrowers would be increased, in each case, without the written Consent of the Supermajority Lenders, provided, that,consent of the Supermajority ABL Lenders, or (B) “FILO Borrowing Base” or otherwise change the definition of the term “FILO Borrowing Base” or any component definition thereof if as a result thereof the amounts available to be borrowed by the Borrowers would be increased, in each case, without the written consent of the Supermajority FILO Lenders, or (ii) change the definition of “FILO Push Down Reserve” (or any component definition of such term) or cease to deduct from the ABL Borrowing Base (or fail to establish or maintain) the FILO Push Down Reserve, in each case, without the written consent of the Supermajority FILO Lenders; provided, that the foregoing clause (j) shall not limit the discretion of the Agent to change, establish, reduce or eliminate any Reservesreserves or to exercise -143- 6245414.1
ABL Borrowing Base means, as of any date of determination, the result of:
ABL Borrowing Base means the “Borrowing Base” as such term is defined in the ABL Credit Agreement. “ABL Borrowing Base Certificate” means the “Borrowing Base Certificate” as such term is defined in the ABL Credit Agreement as in effect on the date hereof. “ABL Credit Agreement” means that certain Credit Agreement, dated as of January 31, 2020, by and among the Borrowers, the ABL Lenders, and the ABL Agent, as amended pursuant to that certain Omnibus Release, Amendment, Limited Waiver, and Reaffirmation Agreement dated as of October 14, 2020, as further amended by the Consent and Amendment No. 1 to Credit Agreement dated as of December 30, 2020, as further amended by the Amendment to Loan Documents dated as of May 13, 2021, as further amended by the Consent under Credit Agreement dated as of September 15, 2021, as further amended by the Amendment to Loan Documents dated as of October 29, 2021 and as further amended pursuant to that certain Amendment No. 4 to Credit Agreement and Loan Documents, dated of the Closing Date (the “ABL Fourth Amendment”), and as may be further amended, amended and restated, supplemented, extended or otherwise modified from time to time, and any replacement credit agreement entered into pursuant to any Refinancing Indebtedness in respect thereof, in each case in accordance with the provisions hereof and of the Intercreditor Agreement. “ABL Existing Term Loan” means the “Term Loan” as defined in the ABL Credit Agreement as in effect immediately prior to the date hereof.