A/R and Inventory Amount definition
A/R and Inventory Amount means, as of any date, the aggregate net book value as of such date of all Eligible Collateral consisting of accounts receivable (excluding accounts receivable owed by a Loan Party to a Loan Party, but including accounts receivable owed by a Subsidiary that is not a Loan Party to a Loan Party) and inventory, determined in accordance with GAAP.
A/R and Inventory Amount means, as of any date of determination, the aggregate net book value as of such date of all Collateral of the Loan Parties subject to a first priority perfected Lien in favor of the Administrative Agent (for the benefit of the Holders of Secured Obligations) that is not shared equally and ratably with any other creditor, consisting of accounts receivable (excluding intercompany accounts receivable and, for the avoidance of doubt, excluding all Receivables of any Originator sold or transferred under a Permitted Domestic Receivables Securitization) and inventory, determined in accordance with generally accepted accounting principles as in effect in the United States of America from time to time, but excluding any portion of the A/R and Inventory Amount that constitutes Restricted Collateral.
A/R and Inventory Amount means, as of any date of determination, the sum of (i) 80% of the aggregate net reported value as of such date of all accounts receivable of the Company and its consolidated Subsidiaries (for the avoidance of doubt, excluding intercompany accounts receivable and all Receivables of the Company or any Receivables Seller which have been sold or transferred to a Receivables Entity or any other Person pursuant to a Receivables Factoring Arrangement or a Receivables Securitization Facility) plus (ii) 50% of the aggregate book value of all inventory of the Company and its consolidated Subsidiaries, all as determined in accordance with GAAP.
Examples of A/R and Inventory Amount in a sentence
The Company will not permit the ratio, determined as of the end of the fiscal quarters ending on or about June 30, 2013, September 30, 2013, December 31, 2013 and March 31, 2014, of (i) the A/R and Inventory Amount to (ii) Consolidated Senior Secured Indebtedness, determined in each case, as of the last day of such fiscal quarter, all calculated for the Company and its Subsidiaries on a consolidated basis, to be less than 1.10 to 1.00.
More Definitions of A/R and Inventory Amount
A/R and Inventory Amount means, as of any date of determination, the aggregate net book value as of such date of all Collateral of the Loan Parties subject to a first priority perfected Lien in favor of the Administrative Agent (for the benefit of the Holders of Secured Obligations) that is not shared equally and ratably with any other creditor, consisting of accounts receivable (excluding intercompany accounts receivable and, for the avoidance of doubt, all Receivables of any Originator sold or transferred under a Permitted Domestic Receivables Securitization) and inventory, determined in accordance with generally accepted accounting principles as in effect in the United States of America from time to time, but excluding any portion of the A/R and Inventory Amount that constitutes Restricted Collateral.