Asset Based Loan definition

Asset Based Loan means any Loan where (i) the underwriting of such Loan was based primarily on the appraised value of the assets securing such Loan and (ii) advances in respect of such Loan are governed by a borrowing base relating to the assets securing such Loan.

Asset Based Loan means a term loan or revolving loan (or participation thereof)

Asset Based Loan means a Collateral Obligation underwritten on the basis of the market value or overcollateralization of specific collateral, as determined by the Calculation Agent in its discretion.

Examples of Asset Based Loan in a sentence

• The Global Asset Based Loan Facility is subject to a fixed charge coverage ratio covenant if 90% or more of the facility is drawn.

• Supportive Measures may include, but are not limited to: counseling, extensions of deadlines or other course related adjustments, modifications of work or class schedules, campus escort services, mutual restrictions on contact between the parties, changes in work or housing locations, leaves of absence, increased security and monitoring of certain areas of the campus, and other similar measures, or other measures determined to be reasonable by the Responsible Administrator.

• The Global Asset Based Loan Facility is subject to a springing fixed charge coverage ratio covenant.

• Our principal funding arrangements include borrowings available under the Group’s Global Asset Based Loan Facility.

• The "Interest Rate" is shall be equal to: (1) the Prime Rate, as defined herein, charged by the Lender, minus one quarter of one percent (.25%), or (2) a fixed rate equal to the Quoted LIBOR Rate plus two and one-half percent (2.50%) per annum, as elected by Borrower pursuant to the Asset Based Loan and Security Agreement between Lender and Borrower ("Loan Agreement"), as defined and determined under the Loan Agreement.

More Definitions of Asset Based Loan

Asset Based Loan means the line of credit established under this Loan Agreement in Article III.

Asset Based Loan means a loan that, in the reasonable opinion of the Investment Advisor, is secured on other assets or pool of assets such as cars, aircraft, boats, equipment, leases or other loans (loan-on-loan);

Asset Based Loan. Any Loan that (i) is secured by a security interest in the related Obligor’s accounts receivable, inventory or equipment, and provides the related Obligor with the option to receive additional borrowings thereunder based on the value of its eligible accounts receivable or inventory as of each month multiplied by an advance rate, (ii) is designated by the Servicer as an “Asset Based Loan” in accordance with the Credit and Collection Policy and (iii) is secured by (x) a perfected first priority security interest (subject to Permitted Liens) (directly or via an intercreditor agreement on terms satisfactory to the Administrative Agent) in any proceeds received from the related Obligor with respect to such Obligor’s accounts receivable, inventory, cash and any general intangibles related to such accounts receivable and inventory and (y) a first or second priority security interest with respect to the proceeds of any other assets of any such Obligor.

Asset Based Loan means a Loan Asset (i) that is underwritten based primarily on the appraised value of the assets securing such Loan Asset, and

Asset Based Loan means any Collateral Loan where (i) the underwriting of such Collateral Loan was based primarily on the Appraised Value of the assets securing such Collateral Loan (and such Appraised Value shall be updated no less than annually) and (ii) advances with respect to such Collateral Loan are governed by a borrowing base relating to certain assets securing such Collateral Loan.

Asset Based Loan means a loan to an FCC Borrower (a) secured by a first position perfected Lien on substantially all of the assets of the FCC Borrower and all other assets which, in accordance with the applicable underwriting approvals or loan documentation, were intended to serve as collateral for such FCC Loan and (b) the amount of which is based upon and limited by (i) a borrowing base, evidenced by a borrowing base certificate which the FCC Borrower is required to submit not less frequently than monthly, setting forth advance rates for eligible accounts receivable and/or eligible inventory or (ii) an appraisal or other valuation acceptable to the Agent for equipment and/or real property securing the underlying FCC Loan.

Asset Based Loan means a Loan Asset that (i) was underwritten primarily on the appraised value of assets securing such Loan Asset, (ii) is governed by a borrowing base or a covenant based on the value of assets securing such Loan Asset and (iii) the Administrative Agent in its reasonable discretion has consented to the treatment of such Loan Asset as an Asset Based Loan.