Canadian Fixed Asset Component definition

Canadian Fixed Asset Component means, at the time of any determination (a) prior to the Canadian Fixed Asset Effective Date, an amount equal to zero ($0) and (b) on or after the Canadian Fixed Asset Effective Date, an amount equal to the least of (i) the result of (A) 85% of the Net Orderly Liquidation Value of Eligible Canadian Equipment minus (B) the sum of (1) Reserves established by the Administrative Agent in its Permitted Discretion and (2) the aggregate amount of Fixed Asset Amortization attributable to Eligible Canadian Equipment included in the determination of clause (A), (ii) an amount not less than zero but otherwise equal to the result of (A) $50,000,000 minus (B) the U.S. Fixed Asset Component and (iii) $2,000,000. Notwithstanding anything to the contrary contained herein and in addition to the eligibility criteria set forth in the definition of Eligible Canadian Equipment, the Canadian Fixed Asset Component shall be zero ($0) until the Administrative Agent shall have received satisfactory results of field exams and appraisals with respect to Equipment to be included in the determination of the Canadian Fixed Asset Component and setting forth the Net Orderly Liquidation Value with respect to such Equipment in accordance with the requirements of this Agreement.
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Canadian Fixed Asset Component means an amount established by the Canadian Administrative Agent prior to June 30, 2012 upon its receipt of (a) an appraisal and environmental reports of the Canadian Borrowers’ Fixed Asset Collateral and all other Collateral Documents and other documents related to the Canadian Borrowers’ Fixed Asset Collateral that are required to be delivered to the Canadian Collateral Agent pursuant to Section 5.14, in form and substance reasonably satisfactory to the Canadian Administrative Agent and (b) the Canadian Fixed Asset Component Limit Notice, which amount shall be equal to the lesser of (i) the Canadian Fixed Asset Component Limit and (ii) seventy-five percent (75%) of the Appraised Value of the Canadian Borrowers’ Fixed Asset Collateral allocated to the Canadian Fixed Asset Component. For purposes of clarity, the Canadian Fixed Asset Component shall be $0 as of the Effective Date. The Canadian Fixed Asset Component shall be reduced by (x) the Canadian Fixed Asset Amortization Amount applicable to the Canadian Fixed Asset Component on the first day of each month commencing on the first day of the first full month following the establishment of the Canadian Fixed Asset Amortization Amount and continuing on the first day of each month thereafter throughout the term of this Agreement and (y) the percentage of the Appraised Value of any Fixed Asset Collateral allocated to the Canadian Fixed Asset Component which (1) is the subject of a casualty event (including, without limitation, damage, destruction or condemnation) or a Permitted Fixed Asset Disposition, or (2) is no longer Eligible Equipment or Eligible Mortgaged Real Property (as applicable) less in each case the portion of such amount that has already been reduced from the Canadian Fixed Asset Component as a result of prior Canadian Fixed Asset Amortization Amount reductions, in each case such amounts being determined by the Canadian Administrative Agent in its sole discretion.
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Canadian Fixed Asset Component means, at any time and with respect to the Canadian Borrower, the lesser of (A) the Canadian Fixed Asset Sublimit and (B) the sum of (i) 75% of the Net Orderly Liquidation Value of the Canadian Eligible Equipment (based on the then most recent independent appraisal thereof received by the Administrative Agent), plus (ii) 75% of the fair market value of the Canadian Eligible Real Property (based on the then most recent independent appraisal thereof received by the Administrative Agent).
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Examples of Canadian Fixed Asset Component in a sentence

  • Upon receipt of the Canadian Fixed Asset Component Limit Notice, the Canadian Administrative Agent shall distribute the Canadian Fixed Asset Component Limit Notice to the Canadian Revolving Lenders.

  • After the Canadian Administrative Agent and the Administrative Agent (as applicable) have established the initial Canadian Fixed Asset Component and the Canadian Fixed Asset Amortization Amount and the initial US Fixed Asset Component and the US Fixed Asset Amortization Amount (as applicable), the Canadian Administrative Agent and the Administrative shall provide written notice of such amounts to the Borrower Representatives and the Canadian Revolving Lenders and the US Revolving Lenders (as applicable).


More Definitions of Canadian Fixed Asset Component

Canadian Fixed Asset Component means a component of the Canadian Borrowing Base attributable to the Canadian Borrowers' Eligible Equipment and Eligible Real Property which shall initially be $15,500,000; provided, that the Canadian Fixed Asset Component shall (a) increase (subject to a maximum Canadian Fixed Asset Component of $16,000,000) (i) upon any acquisition by the Canadian Borrowers of Eligible Equipment or Eligible Real Property by an amount equal to eighty percent (80%) of the cash purchase price of such Eligible Equipment and Eligible Real Property (excluding discounts, rebates, credits (whether taken or available), sales and other taxes, delivery and installation charges, design, engineering and other "soft" costs, and other items related to the purchase price and subject to reduction based on appraisals required to be delivered to the Agents hereunder) and (ii) upon any Person becoming a Canadian Borrower by any Eligible Equipment and Eligible Real Property owned by such Person at the time it becomes a Canadian Borrower by an amount equal to eighty percent (80%) of the appraised value (as reflected in the appraisal report referenced to the definition of Eligible Equipment or Eligible Real Property, as applicable) of such Eligible Equipment and Eligible Real Property, and (b) reduce (1) by the Canadian Fixed Asset Reduction Amount on each Quarterly Date throughout the term of this Agreement commencing September 30, 2005, and (2) upon receipt of Net Proceeds from any sale or other disposition, including any casualty or condemnation, of such Eligible Equipment or such Eligible Real Property by the amount of such Net Proceeds.
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Canadian Fixed Asset Component means a component of the Canadian Borrowing Base attributable to the Canadian Borrowers' Eligible Equipment and Eligible Real Property which shall initially be $16,000,000; provided that the Canadian Fixed Asset Component shall (a) increase upon any acquisition by the Canadian Borrowers of Eligible Equipment or Eligible Real Property by an amount equal to eighty percent (80%) of the cash purchase price of such Eligible Equipment and Eligible Real Property (excluding sales and transfer taxes, transaction costs and delivery and installation expenses) (subject to a maximum Canadian Fixed Asset Component of $16,000,000) and (b) reduce (i) by the Canadian Fixed Asset Reduction Amount on each Quarterly Date throughout the term of this Agreement commencing June 30, 2005, and (ii) upon receipt of Net Proceeds from any sale or other disposition, including any casualty or condemnation, of such Eligible Equipment or such Eligible Real Property by the amount of such Net Proceeds.
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Related to Canadian Fixed Asset Component

  • Fixed Asset Supplies means items included within “Property and Equipment” under the Uniform System of Accounts including, but not limited to, linen, china, glassware, tableware, uniforms, and similar items, whether used in connection with public space or Guest Rooms.

  • Fixed Assets means Equipment and Real Estate.

  • Basket Component means each of the SPDR S&P 500 ETF Trust, iShares Russell 2000 Index Fund, iShares MSCI EAFE Index Fund, and iShares MSCI Emerging Markets Index Fund.

  • Fixed Asset means a tangible non-current asset, including buildings and equipment, acquired not for sale but for use for the Project during the Eligible Expenditure Period;

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers’ business.

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Pool Strip Rate With respect to each Mortgage Loan, a per annum rate equal to the excess of (a) the Net Mortgage Rate of such Mortgage Loan over (b) the Discount Net Mortgage Rate (but not less than 0.00%) per annum.

  • Interest Component Each future interest payment, or portion thereof, due on or prior to the Maturity Date, or if the Debt Security is subject to redemption or repayment prior to the Maturity Date, the first date on which such Debt Security is subject to redemption or repayment.

  • Class A-S Component The Component having such designation.

  • Class X-A Components The Class A-1 Component, Class A-2 Component, Class A-3 Component, Class A-4 Component, Class A-AB Component and Class A-S Component, each of which constitutes a separate class of “regular interests”, within the meaning of Code Section 860G(a)(1), in the Upper-Tier REMIC with a pass-through rate equal to its Class X Strip Rate from time to time and a notional amount equal to its Component Notional Amount from time to time.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Finished Lots Entitled Land with respect to which (a) development has been completed to such an extent that permits to allow use and construction, including building, sanitary sewer and water, are entitled to be obtained for a Unit on such Entitled Land and (b) start of construction has not occurred.

  • Specified Assets the following property and assets of such Grantor:

  • Total Tangible Assets at any date of determination, the total amount of assets of the Guarantor and its Subsidiaries (without duplication and excluding any asset owned by the Guarantor or any Subsidiary that represents an obligation of the Guarantor or any other Subsidiary to such Subsidiary or Guarantor) after deducting therefrom all goodwill, trade names, trademarks, patents, licenses, copyrights and other intangible assets.

  • Fixed Equipment means any property affixed in any way to the Licensed Premises existing at the time Notice to Proceed is given, whose removal would damage the Licensed Premises.

  • Eligible Equipment means, at any time of determination, Equipment owned by Borrower which Lender, in its sole discretion, deems to be eligible for borrowing purposes.

  • Bondable stranded costs rate order means one or more

  • Attributable Receivables Indebtedness at any time shall mean the principal amount of Indebtedness which (i) if a Permitted Receivables Facility is structured as a secured lending agreement, would constitute the principal amount of such Indebtedness or (ii) if a Permitted Receivables Facility is structured as a purchase agreement, would be outstanding at such time under the Permitted Receivables Facility if the same were structured as a secured lending agreement rather than a purchase agreement.

  • Consolidated Total Tangible Assets means, as of any date, the Consolidated Total Assets as of such date, less all goodwill and intangible assets determined in accordance with GAAP included in such Consolidated Total Assets.

  • Specified Asset as defined in subsection 4.2.2 hereof.

  • Adjusted Consolidated Net Tangible Assets means (without duplication), as of the date of determination, the remainder of: