Applicable Borrowing Base Percentage definition

Applicable Borrowing Base Percentage means, as of any date:

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Applicable Borrowing Base Percentage means, with respect to any Specified New Floor Plan Unit as of any date of determination, the percentage equal to the then-applicable advance rate that would apply to such Specified New Floor Plan Unit pursuant to Section 2.02(b)(ii) if a Floor Plan Loan were to be advanced against such Specified New Floor Plan Unit on such date.

Applicable Borrowing Base Percentage means an amount equal to 25% of the Market Value of all Eligible Assets.

Examples of Applicable Borrowing Base Percentage in a sentence

If any Swing Line Loan made to acquire, finance or improve a Borrowing Base Property remains outstanding on the last day of an Applicable Period, such Swing Line Loans shall be included in a Tranche of Term Loans used to acquire, finance or improve such Borrowing Base Property, including, without limitation, for purposes of calculating Amortizing Payments on such Tranche of Term Loans and calculating the Applicable Borrowing Base Percentage.
Under no circumstances shall Lender be obligated to make any Advance hereunder in respect of a funding request submitted to Borrower by or on behalf of an Applicable Underlying Borrower that exceeds the Applicable Borrowing Base Percentage of the aggregate outstanding principal balance of all Eligible Consumer Notes Receivable with respect to which such funding request and Advance are made.

More Definitions of Applicable Borrowing Base Percentage

Applicable Borrowing Base Percentage shall have the meaning set forth in the Fee Letter.

Applicable Borrowing Base Percentage. Definition Changed. The definition of "Applicable Borrowing Base Percentage" is hereby amended by adding a new paragraph at the end of such definition, to read as follows: "Notwithstanding anything herein to the contrary, this definition shall not require or obligate the WC Collateral Agent, the Agent or the Banks to release or agree to release any Lien on any Fixed Assets, Other Specified Property or Capital Stock in exchange for a decrease in the "Applicable Borrowing Base Percentage" in accordance with paragraph (b) above." -2- 4.

Applicable Borrowing Base Percentage means, as of any date with respect to Loans made to acquire, finance or improve a Borrowing Base Property, a "loan to value" ratio stated as a percentage calculated as follows:

Applicable Borrowing Base Percentage is (a) eighty-five percent (85.0%) at times when the dilution rate with respect to Accounts (as determined by Bank) is less than three and one-half of one percent (3.50%) and (b) eighty percent (80.0%) at times when the dilution rate with respect to Accounts (as determined by Bank) is three and one-half of one percent (3.50%) or higher. Notwithstanding the foregoing, Bank has the right to decrease the Applicable Borrowing Base Percentage (i) in its good faith business judgment to mitigate the impact of events, conditions, contingencies, or risks which may adversely affect the Collateral or its value and (ii) in its sole discretion at times when the dilution rate with respect to Accounts (as determined by Bank) is five percent (5.0%) or higher.