ABL Borrowing Base definition

ABL Borrowing Base means the “Borrowing Base” (as such term is defined in the ABL Loan Agreement).

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.

Examples of ABL Borrowing Base in a sentence

• The Loan Parties shall not permit Excess Availability at any time to be less than the greater of (i) $4,000,000 and (ii) the lesser of $6,000,000 and eight percent (8%) of the ABL Borrowing Base then in effect (without giving effect to any Term Loan Push-Down Reserve).

• ABL Borrowing Base Certificates: collectively, the US Borrowing Base Certificates and the UK Borrowing Base Certificates, as each such term is defined in the ABL Revolver Loan Agreement in effect on the date hereof.

• As of December 31, 2009, the DIP ABL Borrowing Base is $1.612 billion and the total outstanding balance owed under the DIP ABL Facility (including letters of credit, accrued interest and other fees) is $749 million.

• The Loan Parties shall take such steps as shall be required under the ABL Credit Agreement and the ABL Intercreditor Agreement, as applicable (including delivery of such ABL Borrowing Base Certificates and Term Loan Borrowing Base Certificates as may be required by the applicable ABL Agent and any Agent), to enable the ABL Administrative Agent to implement and maintain the Term Pushdown Reserve against the ABL Borrowing Base, as and when the Term Pushdown Reserve is greater than zero.

• Without limiting the foregoing, for purposes of determining Eligible Customer List and Marketing Receivables which may be included in the ABL Borrowing Base, Term Agent shall notify ABL Agent of the occurrence of any event of default arising under Section 8.01(a) or 8.01(f) of the Term Loan Agreement.

More Definitions of ABL Borrowing Base

ABL Borrowing Base means, as of any date of determination thereof, the “Borrowing Base” as defined in the ABL Loan Agreement and reflected on the Borrowing Base Certificate delivered by any Obligor to ABL Agent as of the date of determination.

ABL Borrowing Base means the “Borrowing Base” (or similar term) as defined in the ABL Credit Agreement.

ABL Borrowing Base shall have the meaning provided to the term “Borrowing Base” in the ABL Credit Agreement as in effect on the date hereof.

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 that portion of the Borrowing Base equal to the sum of the amount represented by clauses (a)-(i) of the 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 has the meaning specified in the ABL Credit Agreement as in effect on the date hereof. For purposes of this definition, each component of ABL Borrowing Base shall be calculated in accordance with the terms and conditions of the ABL Credit Agreement as in effect on the date hereof.