Acquisition Loan Advance Limit means, as of any Borrowing Date of an Acquisition Loan, for the Company and its Subsidiaries on a consolidated basis, calculated as of the last day of the most recently ended fiscal quarter for which an Availability Analysis has been delivered, an amount equal to the lesser of (i) the Total Acquisition Loan Commitment and (ii) the Acquisition Loan Borrowing Base, less, in each case, any applicable Reserve Commitment measured in Dollars.
Acquisition Loan Advance Limit means as of any Borrowing Date of an Acquisition Loan, for the Company and its Subsidiaries on a consolidated basis, calculated as of the last day of the most recently ended fiscal quarter or year for which financial statements have been delivered under either Section 7.5 or 9.5, an amount equal to the lesser of (i) $110,000,000 MINUS the amount, if any, of any portion of the Acquisition Loan Commitment allocated to Floor Plan Borrowings or the Floor Plan Loan Commitment, or (ii) the sum of (y) the aggregate amount for all Qualifying Subsidiaries of two (2) times the difference between Pro Forma EBITDA of each such Qualifying Subsidiary MINUS Pro Forma Interest Expense of each such Qualifying Subsidiary PLUS (z) the lesser of (A) the aggregate amount for all Qualifying Ford Subsidiaries of two (2) times the difference between Pro Forma EBITDA of each such Qualifying Ford Subsidiary MINUS Pro Forma Interest Expense of each such Qualifying Ford Subsidiary, or (B) the amount derived under clause (x) of the definition of the Ford Borrower Liability Amount and such amount shall not include the Pro Forma EBITDA of any of the GM Borrowers. If the purpose of any Borrowing of an Acquisition Loan is to make a Permitted Acquisition, then the foregoing amounts shall be calculated to give effect to such Permitted Acquisition as if such Acquisition had been consummated on or before the last day of the fiscal quarter immediately preceding such Borrowing Date.
Acquisition Loan Advance Limit means, as of any Borrowing Date of an Acquisition Loan, an amount equal to the Total Acquisition Loan Commitment (not to exceed the percentage of the Total Floor Plan Loan Commitment in effect as of the Closing Date), less any applicable Reserve Commitment measured in Dollars.
More Definitions of Acquisition Loan Advance Limit
Acquisition Loan Advance Limit means, as of any Borrowing Date of an Acquisition Loan, for the Company and its Subsidiaries on a consolidated basis, calculated as of the last day of the most recently ended fiscal quarter or year for which financial statements have been delivered under either Section 7.5 or 9.5, an amount equal to the lesser of (a) $198,000,000 minus (i) the amount of the Reserve Commitment and (ii) the amount of the Excess/Payments in Process Commitment; and (b) the sum of (i) the aggregate amount for all Qualifying Subsidiaries of two (2) times the difference between Pro Forma EBITDA of each such Qualifying Subsidiary minus Pro Forma Interest Expense of each such Qualifying Subsidiary plus (ii) the lesser of (y) the aggregate amount for all Qualifying Ford Subsidiaries of two (2) times the difference between Pro Forma EBITDA of each such Qualifying Ford Subsidiary minus Pro Forma Interest Expense of each such Qualifying Ford Subsidiary, or (z) the amount derived under clause (x) of the definition of the Ford Borrower Liability Amount. If the purpose of any Borrowing of an Acquisition Loan is to make a Permitted Acquisition, then the foregoing amounts shall be calculated to give effect to such Permitted Acquisition as if such Acquisition had been consummated on or before the last day of the fiscal quarter immediately preceding such Borrowing Date.
Acquisition Loan Advance Limit means, as of any Borrowing Date of an Acquisition Loan, for the Company and its Subsidiaries on a consolidated basis, calculated as of the last day of the most recently ended fiscal quarter for which an Availability Analysis has been delivered, an amount equal to the lesser of (i) the Total Acquisition Loan Commitment (not to exceed the percentage of the Total Floor Plan Loan Commitment in effect as of the Closing Date) and (ii) the Acquisition Loan Borrowing Base, less, in each case, any applicable Reserve Commitment measured in Dollars.’
Acquisition Loan Advance Limit means as of any Borrowing Date of an Acquisition Loan, for the Company and its Subsidiaries on a consolidated basis, calculated as of the last day of the most recently ended fiscal quarter or year for which financial statements have been delivered under either Section 7.5 or 9.5, an amount equal to the lesser of (i) 2.75 times the difference between Pro Forma EBITDA of the Floor Plan Subsidiaries minus Pro Forma Interest Expense of the Floor Plan Subsidiaries, or (ii) an amount equal to the greater of (y) 1.50 times the difference between Consolidated Pro Forma EBITDA minus Pro Forma Floor Plan Interest Expense or (z) 2.0 times the difference between Pro Forma EBITDA of the Floor Plan Subsidiaries minus Pro Forma Interest Expense of the Floor Plan Subsidiaries. If the purpose of any Borrowing of an Acquisition Loan is to make a Permitted Acquisition, then the foregoing amounts shall be calculated to give effect to such Permitted Acquisition as if such Acquisition had been consummated on or before the last day of the fiscal quarter immediately preceding such Borrowing Date.