Class B Advance Rate definition
Class B Advance Rate means eighty-seven percent (87%).
Class B Advance Rate means, as of any date of determination, (a) if the Weighted Average FICO Score of all Collateral Receivables for which a FICO Score has been obtained around the time the Receivable was originated is greater than or equal to 580 on such date, 90% and (b) if the Weighted Average FICO Score of all Collateral Receivables for which a FICO Score has been obtained around the time the Receivable was originated is less than 580 on such date, 85%.
Class B Advance Rate means 90.0%.
Examples of Class B Advance Rate in a sentence
Each Joinder Agreement shall also set forth any other applicable terms of the Class B Revolving Commitments being provided thereby, including without limitation the Applicable Class B Advance Rate (which shall be identical among all Class B Revolving Lenders), other than pricing terms described in a separate Fee Letter.
Each Borrowing Notice shall set forth, and each Advance shall be comprised of (i) a proposed Class A Advance and (ii) a proposed Class B Advance, which shall be calculated at the Class B Advance Rate based on the proposed Class A Advance.
Each Joinder Agreement shall also set forth any other applicable terms of the Class B Commitments being provided thereby, including without limitation the Applicable Class B Advance Rate (which shall be identical among all Class B Lenders), other than pricing terms described in a separate Fee Letter.
As of any date of determination, an amount equal to (a) one hundred percent (100%), minus (b) the Class B Advance Rate, plus (c) the Series 2020-1 Excess Concentration Percentage.
More Definitions of Class B Advance Rate
Class B Advance Rate. With respect to any Class B Advance, a percentage equal to the product of (x) 5/75, multiplied by (y) the Class A Advance Rate for the related Advance on the Class A Variable Funding Certificates.
Class B Advance Rate means, for each Aircraft of a particular Type as of any date of determination, the applicable Base Advance Rate (whether before or after ▇▇▇▇▇▇▇▇ ▇▇▇▇ exists), as adjusted by each applicable Advance Rate Adjustment.
Class B Advance Rate means (i) initially, 95.00%, and (ii) following the occurrence and during the continuation of a Class B Advance Rate Step-Down Event, 92.00%.
Class B Advance Rate. “Class B Borrowing Base”, “Concentration Limits”, “Eligible Receivable” or any other amendment having the effect of increasing borrowing availability, “Transaction Documents”, “Material Adverse Effect”, “Secured Obligations”, “Class B Advance Rate Step-Down Event”, “Class B Advance Rate Step-Down Trigger”, “Permitted Encumbrance”, “Permitted Takeout”, “Required Lenders”, “Controlling Class,” “Lender Percentage”, “Secured Parties” or any other provision specifying the number of Lenders or portion of the Lenders holding Facility Loans Outstanding to take action under the Transaction Documents, or any definition used in the foregoing definitions;
Class B Advance Rate. (a) with respect to any date of determination up to and including the end of the Prefunding Period, 72.00%; (b) with respect to any date of determination following the end of the Prefunding Period, up to and including the last day of the Reinvestment Period, the percentage applicable on such date based upon the obligor count existing upon such date as set forth in the following table; and (c) with respect to any date of determination following the last day of the Reinvestment Period, the Class B Advance Rate determined pursuant to clause (b) above on the last day of the Reinvestment Period, taking into account for this purpose any Collateral Obligations that the Issuer has entered into a binding commitment to originate or purchase but that had not settled by the last day of the Reinvestment Period: 20 and lower 70.00 % 21 and higher 72.00 % For purposes of determining the obligor count for the above table, the proceeds received upon the sale or other disposition of a Collateral Obligation or the final repayment of a Collateral Obligation shall be deemed to constitute an Obligor until all or a portion of such proceeds are reinvested in an Additional Collateral Obligation.
Class B Advance Rate. The meaning set forth in the Fee Letter.
Class B Advance Rate has the meaning set forth on Schedule II. “Class B Aggregate Loan Principal Balance” means, at any time, the aggregate outstanding Principal Amount of all Class B Loans. “Class B Borrower Obligations” means all present and future indebtedness and other liabilities and obligations (howsoever created or evidenced, whether direct or indirect, absolute or contingent, or due or to become due) of the Borrower to the Class B Lenders arising under this Agreement or any other Transaction Document or the transactions contemplated hereby or thereby, including the repayment of the Class B Aggregate Loan Principal Balance and the payment of Class B Senior Monthly Interest Amount, Class B Monthly Interest Amount, Class B Monthly Principal Payment Amount, Class B Used Fee, Class B Unused Fee, Class B Upfront Fee and all other amounts due or to become due from the Borrower to the Class B Lenders under this Agreement and the other Transaction Documents (whether in respect of fees, expenses, indemnifications, breakage costs, increased costs or otherwise), interest, fees and other obligations that accrue after the commencement of any bankruptcy, insolvency or similar proceeding with respect to Borrower, Seller, Servicer or GreenSky (in each case whether or not allowed as a claim in such proceeding). “Class B Borrowing Base” means, at any time, an amount equal to (i) cash held in the Collection Account in excess of the projected amounts of distributions payable pursuant to Sections 3.02