Applicable Advance Rate definition

Applicable Advance Rate. For each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale or participation required by Section 9.4 and the expected date of such sale or participation, the percentage specified below: Senior Secured Loans with a Market Value of: 90% or more of par 100 % 93 % 92 % 88 % Below 90% of par 100 % 80 % 73 % 60 % Other Collateral Obligations with a Xxxxx’x Rating of at least “B3” and a Market Value of 90% or more of par 100 % 89 % 85 % 75 % All other Collateral Obligations 100 % 75 % 65 % 45 %

Applicable Advance Rate means the following:

Applicable Advance Rate means the “Applicable Advance Rate” described in the Fee Letter.

Examples of Applicable Advance Rate in a sentence

• Subject to the provisions of this Agreement, Borrower may request Advances under the Revolving Facility up to and including the value, in U.S. Dollars, in an amount equal to the Applicable Advance Rate of the Borrowing Base, minus, if applicable, amounts reserved pursuant to this Agreement (such calculated amount being referred to herein as the "Availability").

• The prior written consent of the Administrative Agent shall be required if such Loan Asset to be sold is for an amount which is less than the product of the Applicable Advance Rate times the Adjusted Borrowing Value of such Loan Asset.

• In the event that the Borrower exercises such option to increase the Applicable Advance Rate pursuant to and in accordance with the terms hereof, the determination of the Borrowing Base (as defined in the Fourth Restated Loan Agreement (as modified hereby)) will be based upon such (55%) Applicable Advance Rate multiplied by the fair market value (determined on an "as-is" basis) of each Collateral Pool Property (in the aggregate) as reflected in the appraisals the Agent obtains under subparagraph (i) above.

• Subject to the provisions of this Agreement, Borrower may request Advances under the Revolving Facility up to and including the value, in U.S. Dollars, of the sum of (i) the Applicable Advance Rate (as hereinafter defined) of the Borrowing Base for Eligible Receivables and (ii) the Applicable Advance Rate of the Borrowing Base for Eligible Inventory minus, if applicable, amounts adjusted or reserved pursuant to this Agreement (such calculated amount being referred to herein as the “Availability”).

• As long as no Default or Event of Default shall have occurred and be continuing, any change in the Applicable Advance Rate shall be effective as of the fifth (5th) Business Day following the submission to the Lender of the Compliance Certificate for the applicable Test Period pursuant to Section 6.1(a).

More Definitions of Applicable Advance Rate

Applicable Advance Rate means, for each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale as described in this section and the expected date of such sale, the percentage specified below:

Applicable Advance Rate means with respect to any Included Investor, fifty percent (50%); provided that, the Administrative Agent may in its sole discretion increase the Applicable Advance Rate for any Included Investor pursuant to a writing with the Primary Borrower.

Applicable Advance Rate means, with respect to any Eligible Loan Asset, the percentage with respect to such Loan Asset determined as follows:

Applicable Advance Rate means, in respect of each Type of Receivable, the percentage shown in the column opposite such Type of Receivable in the following table: Flex 80.00 % Mini Money1 80.00 % Mini Money, Mini Money 25002 70.00 % Mini Money, Mini Money 2500 and Mini Money 35003 80.00 %

Applicable Advance Rate means, with respect to each Mortgage Asset, (a) with respect to Term Loan Collateral under the Term Loans, the Applicable Advance Rate set forth on Schedule 1 to the Fee Letter and (b) in the case of Revolving Loan Collateral under the Revolving Loans, the Applicable Advance Rate determined by the Administrative Agent in its discretion and set forth in the related Confirmation.

Applicable Advance Rate means, as of any date of determination (a) during the period from the Closing Date through and including the Borrowing Base Certificate Delivery Date with respect to the month ended December 31, 2017, 90%, (b) during the period from the first day following the Borrowing Base Certificate Delivery Date with respect to the month ended December 31, 2017, through and including the Borrowing Base Certificate Delivery Date with respect to the month ended March 31, 2018, 88%, (c) during the period from the first day following the Borrowing Base Certificate Delivery Date with respect to the month ended March 31, 2018, through and including the Borrowing Base Certificate Delivery Date with respect to the month ended June 30, 2018, 87%, (d) during the period from the first day following the Borrowing Base Certificate Delivery Date with respect to the month ended June 30, 2018, through and including the Borrowing Base Certificate Delivery Date with respect to the month ended September 30, 2018, 86%, and (e) at all times after the Borrowing Base Certificate Delivery Date with respect to the month ended September 30, 2018, 85%.

Applicable Advance Rate means seventy percent (70%) in respect of Eligible Mortgage Loans or such higher or lower percentage amount as Agent, in its sole credit judgment, may elect from time to time.