Advance Percent definition

Advance Percent means eighty-two percent (82%) or such other percent as the Agent may, at any time hereafter, determine is necessary to protect its interests, such determination to be made in the Agent's sole judgment, in good faith and based on information which, in its judgment, supports such determination. Any change in the Advance Percent and any establishment of reserves shall be effective on the date Parent receives Agent's written notice of such. The Eligible Accounts attributable to any Subsidiary acquired in the Pending Acquisition shall not be included in any calculation of the Borrowing Base until such time as such Subsidiary is included as a "Borrower" under this Agreement pursuant to the terms of SECTION 13.11.
Sample 1
Advance Percent means eighty–five percent (85%) based on continuing confirmation of a Dilution Percentage of no more than five percent (5%) determined, as of any date, upon the Administrative Agent’s most recent field examination or if the Dilution Percentage is more than five percent (5%) determined, as of any date, upon the Administrative Agent’s most recent field examination, such other percent as the Administrative Agent may, at any time hereafter, determine is necessary to protect its interests, such determination to be made in the Administrative Agent’s reasonable sole discretion. The term “Dilution Percentage” means the average dilution percentage for the accounts receivable of the Borrower for the period selected by the Administrative Agent based on its most recent field examination. “Average dilution percentage” shall be calculated by the Administrative Agent for the period by dividing the dilution of accounts receivables occurring during such period by the gross sales for such period and multiplying the resulting quotient by 100. For purposes of the foregoing, “dilution” means any reduction in the value of accounts receivables caused by returns, write–offs, discounts, credits, allowances, and/or any other non–cash offsets asserted by account debtors having the effect of reducing the value of the accounts receivable; provided reductions in the value of accounts receivable arising from Allowance Accounts, customer markdowns, destroyed in field and certain other sales allowances identified by the Administrative Agent will not be considered in calculating dilution if sufficient information is supplied in connection with the Administrative Agent’s field examinations so that such amounts may be included in the reserves established pursuant to clause (i) above in a manner and in an amount satisfactory to the Administrative Agent in its reasonable and sole discretion. The Administrative Agent shall also be entitled to reduce the other advance percentages used in this definition of Borrowing Base in its reasonable and sole discretion. The term “Appraised Liquidation Percentage” means the percentage net liquidation value of inventory determined on an orderly going–out–of–business–sale basis, net of all commissions, associated costs, fees and expenses associated with such liquidation, as determined from the most recent appraisal thereof performed by a credentialed appraiser satisfactory to the Administrative Agent; provided that notwithstanding anything contained in any ap...
Sample 1
Advance Percent means eighty–five percent (85%) based on continuing confirmation of a Dilution Percentage of no more than five percent (5%) determined, as of any date, upon the Administrative Agent’s most recent field examination or if the Dilution Percentage is more
Sample 1

More Definitions of Advance Percent

Advance Percent means either: (i) for the period prior to November 21, 2000, seventy-five percent (75%); (ii) as of November 21, 2000 and as of any date of determination of the Borrowing Base after November 21, 2000, but before December 19, 2000, the sum of (x) seventy-five percent (75%) minus (y) the product of one percent (1%) multiplied by the number of Tuesdays to have elapsed as of the date of determination from and including Tuesday, November 21, 2000 through and including Tuesday, December 19, 2000; or (iii) as of December 20, 2000, and at all times thereafter except as provided in clause (iv) below, seventy percent (70%); or (iv) at any time, such other percent as the Agent may, at any time hereafter, determine is necessary to protect its interests, such determination to be made in the Agent's sole judgment, in good faith and based on information which, in its judgment, supports such determination. Any change in the Advance Percent and any establishment of reserves shall be effective on the date Parent receives Agent's written notice of such. In calculating the aggregate Borrowing Base of all of the Borrowers, no more than Four Million Dollars ($4,000,000) of the Non-System Receivables of all the Borrowers shall be included as Eligible Accounts.
Sample 1
Advance Percent means either: (i) as of March 31, 2001 and as of any date of determination of the Borrowing Base after March 31, 2001, but before June 1, 2001, seventy-five percent (75%), except as provided in clause (iii) below; (ii) as of June 1, 2001, and at all times thereafter except as provided in clause (iii) below, seventy percent (70%); or (iii) at any time, such lesser percent as the Agent may, at any time hereafter, determine is necessary to protect its interests, such determination to be made in the Agent's sole judgment, in good faith and based on information which, in its judgment, supports such determination. Any change in the Advance Percent and any establishment of reserves shall be effective on the date Parent receives Agent's written notice of such. In calculating the aggregate Borrowing Base of all of the Borrowers, no more than Four Million Dollars ($4,000,000) of the Non-System Receivables of all the Borrowers shall be included as Eligible Accounts.
Sample 1
Advance Percent means eighty-five percent (85%) based on continuing confirmation of a Dilution Percentage of no more than five percent (5%) determined, as of any date, upon the Administrative Agent's most recent field examination or if the Dilution Percentage is more than five percent (5%) determined, as of any date, upon the Administrative Agent's most recent field examination, such other percent as the Administrative Agent may, at any time hereafter, determine is necessary to protect the Lenders' interests, such determination to be made in the Administrative Agent's reasonable sole discretion.
Sample 1
Advance Percent means either (i) eighty percent (80%); or (ii), if no Default Exists, the Borrower requests in writing and the Borrower provides evidence to the Administrative Agent (which the Administrative Agent has determined in its judgement and in good faith to be satisfactory) that the average dilution percentage for the accounts of Borrower and the Granting Subsidiaries is equal to or less than five percent (5%) for the one hundred eighty (180) day period ending not less than thirty (30) days prior to the date of the Borrower's request under this clause (ii), eighty-five percent (85%); or (iii), if the Administrative Agent provides written notice to the Borrower that it has determined to change the Advance Percent at any time and from time to time after the Closing Date, such other percent specified in the most recent notice as the Administrative Agent may determine is necessary to protect its interests, such determination to be made in the Administrative Agent's judgment, in good faith and based on the fact that the average dilution percentage for the accounts of Borrower and the Granting Subsidiaries is greater than ten percent (10%) for a ninety (90) day period selected by the Administrative Agent ending not less than thirty (30) days prior to the date of the Administrative Agent's notice under this clause (iii). Any change in the Advance Percent shall be effective on the date five (5) days after Borrower receives the Administrative Agent's written notice of such change. As used in the foregoing definition, "average dilution percentage" shall be calculated for any period in a manner acceptable to the Administrative Agent by dividing the dilution of accounts occurring during such period by the gross sales (excluding rebills already credited to reduce dilution) for such period and multiplying the resulting quotient by 100. For purposes of the foregoing, "dilution" means any reduction in the value of accounts receivable caused by returns, write-offs, discounts, credits, allowances other than those resulting from reserves for potential losses, and/or any other non-cash offsets asserted or assertable by account debtors having the effect of reducing the value of accounts receivable; provided that in calculating any such reductions in any period, the amount of any rebill of the original account debtor which occurs within seven (7) days of the original invoice date and the amount of any rebill of the original account debtor which is rebilled in such period based on the ...
Sample 1

Related to Advance Percent

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Term Loan Percentage means, with respect to any Term Loan Lender at any time, the percentage of the total outstanding principal balance of the Term Loans represented by the outstanding principal balance of such Term Loan Lender’s Term Loans.

  • Maximum Advance Amount shall be Two Hundred Fifty Thousand Dollars ($250,000) per Advance Notice.

  • Tranche B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Revolver Percentage means, for each Lender, the percentage of the Revolving Credit Commitments represented by such Lender’s Revolving Credit Commitment or, if the Revolving Credit Commitments have been terminated, the percentage held by such Lender (including through participation interests in Reimbursement Obligations) of the aggregate principal amount of all Revolving Loans and L/C Obligations then outstanding.

  • Purchase Percentage means, with respect to any Purchased Asset, the applicable Maximum Purchase Percentage specified in Schedule 1 (or as otherwise specified in the applicable Confirmation), as adjusted in accordance with Schedule 1 (or as otherwise specified in the applicable Confirmation).

  • Applicable Revolving Percentage means with respect to any Revolving Lender at any time, such Revolving Lender’s Applicable Percentage in respect of the Revolving Facility at such time.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Strike Percentage means 100%

  • Tranche Percentage means in respect of each Tranche, the Tranche Quantity expressed as a percentage of the sum of all the Tranche Quantities at the Supply Point.

  • Note Percentage means (i) for each Payment Date until the aggregate principal amount of each Class of Notes has been paid in full, 100%; and (ii) thereafter, 0%.

  • NOLV Percentage the net orderly liquidation value of Inventory, expressed as a percentage, expected to be realized at an orderly, negotiated sale held within a reasonable period of time, net of all liquidation expenses, as determined from the most recent appraisal of Borrowers’ Inventory performed by an appraiser and on terms satisfactory to Agent.

  • Total loan amount means the principal of the loan minus those

  • Performance Percentage means the factor determined pursuant to a Performance Schedule that is to be applied to a Target Award and that reflects actual performance compared to the Performance Target.

  • Applicable Dollar Percentage means, with respect to any Dollar Lender, the percentage of the total Dollar Commitments represented by such Dollar Lender’s Dollar Commitment. If the Dollar Commitments have terminated or expired, the Applicable Dollar Percentages shall be determined based upon the Dollar Commitments most recently in effect, giving effect to any assignments.

  • Revolving Percentage as to any Revolving Lender at any time, the percentage which such Lender’s Revolving Commitment then constitutes of the Total Revolving Commitments (or, at any time after the Revolving Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender’s Revolving Loans then outstanding constitutes of the aggregate principal amount of the Revolving Loans then outstanding).

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Fifty-Percent or Greater Interest shall have the meaning ascribed to such term for purposes of Sections 355(d) and (e) of the Code.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Investment Percentage means a percentage established for each Partner on the Partnership’s books as of the first day of each Fiscal Period. The Investment Percentage of a Partner for a Fiscal Period will be determined by dividing the balance of the Partner’s Capital Account as of the commencement of the Fiscal Period by the sum of the Capital Accounts of all of the Partners as of the commencement of the Fiscal Period. The sum of the Investment Percentages of all Partners for each Fiscal Period will equal 100%.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Euro-Dollar Reserve Percentage has the meaning set forth in Section 2.06(c).

  • Loan Limit means, at any time, the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time (including as it may be reduced pursuant to Section 2.14(h)).

  • Applicable L/C Fee Percentage means, as at any date of determination, a rate per annum equal to the Applicable Eurodollar Margin for Revolving Loans in effect on such date.