Collateral Liquidation Value is defined herein to mean the sum of: (i) 100% of the total aggregate wholesale invoice price of all of Resellers’ Financed Inventory that is unsold and in Reseller’s possession and control and within the terms of repurchase pursuant to an agreement between CPC and a Vendor, plus (ii) 85% of Eligible Cisco VIP Rebates, plus (iii) 85% of the total outstanding balance of Reseller’s Eligible Accounts, plus (iv) without duplication, the total aggregate wholesale invoice price of all of Resellers’ Financed Inventory that is (a) drop shipped to Account Debtors within 14 calendar days or fewer (up to a maximum aggregate amount of $5,000,000 for all such Account Debtors), plus (v) without duplication, the total aggregate wholesale invoice price of all of Resellers’ Financed Inventory that is in transit to Account Debtors within 7 calendar days or fewer (up to a maximum aggregate amount of $2,500,000 for all such Account Debtors), minus (vi) the aggregate of the current principal portion of payments then owed on Third Party Debt.
Collateral Liquidation Value is defined herein to mean: (i) one hundred percent (100%) of the total aggregate wholesale invoice price of all of Dealer’s Bxxx Tech.logix division’s inventory and demonstration equipment financed by CDF that is unsold and in Dealer’s possession and control; and (ii) one hundred percent (100%) of the CDF Account Portion (as defined below): in each case as of the date of the Collateral Report and to the extent CDF has a first priority, fully perfected security interest therein.
Collateral Liquidation Value is defined herein to mean the sum of: (i) one hundred percent (100%) of the total aggregate wholesale invoice price of all of Dealer’s Financed Inventory that is unsold and in Dealer’s possession and control; plus (ii) eighty five percent (85%) of the total outstanding balance of Dealer’s Eligible Accounts, minus (iii) Third Party Debt.
Examples of Collateral Liquidation Value in a sentence
Without the Noteholders' prior written consent, the Company will not, and will not permit any Subsidiary to, sell, transfer, assign, convey or otherwise dispose of an interest in any asset now owned or hereafter acquired, except sales of assets during each calendar year that have an aggregate Collateral Liquidation Value of $150,000 or less.
Regardless of the payment terms pertaining to any Collateral financed by CPC or anything contained in the Agreement to the contrary, if at the time of any determination, Resellers’ total outstanding Indebtedness exceeds the Collateral Liquidation Value (as defined below), Resellers will immediately pay CPC the sum of: (i) Resellers’ total outstanding Indebtedness, minus (ii) the Collateral Liquidation Value.
Regardless of the payment terms pertaining to any Collateral financed by CPC or anything contained in the Credit Agreement to the contrary, if at the time of any determination, Reseller’s total outstanding Indebtedness exceeds the Collateral Liquidation Value (as defined below), Reseller will immediately pay CPC the sum of the following items: (i) Reseller's total outstanding Indebtedness, minus (ii) the Collateral Liquidation Value.
Regardless of the payment terms pertaining to any Collateral financed by CPC or anything contained in the Credit Agreement to the contrary, if at the time of any determination, Dealer’s total outstanding Indebtedness exceeds the Collateral Liquidation Value (as defined below), Dealer will immediately pay CPC the sum of the following items: (i) Dealer’s total outstanding Indebtedness, minus (ii) the Collateral Liquidation Value.
CPC may establish reserves from time to time based upon dilution and other factors deemed appropriate by CPC which may further reduce the Collateral Liquidation Value.
More Definitions of Collateral Liquidation Value
Collateral Liquidation Value is defined herein to mean: (i) one hundred percent (100%) of the total aggregate wholesale invoice price of al of Dealer's inventory financed by DFS that is unsold and in Dealer's possession and control excluding all in-use and demonstration inventory; (ii) seventy percent (70%) of the total outstanding balance of Dealer's Eligible Accounts (Except to the extent payment for any such Account is in the Blocked Account (as defined below); (iii) one hundred percent (100%) of all funds held in Dealer's bank account which has been blocked in favor of DFS, pursuant to a lockbox agreement executed by the bank in which such account is located, in form and substance satisfactory to DFS (the "Blocked Account") and pursuant to which agreement, Dealer hereby agrees to direct its obligors to make payment to the lockbox set forth therein; and (iv) one hundred percent (100%) of current proceeds and proceeds in transit due from Dealer's credit card clearing company, as reflected on the credit card clearing company's report dated as of the date of the Collateral Report: in each case as of the date of the Collateral Report and to the extent DFS has a first priority, fully perfected security interest therein. If Dealer from time to time is required to make immediate Payment to DFS of any past due obligation discovered during any Collateral audit; upon review of a Collateral Report or at any other time, Dealer agrees that acceptance of such payment by DFS shall not be construed to have waived or amended the terms of its financing program. From time to time Dealer may request that DFS release funds held in the Blocked Account to Dealer. DFS agrees, so long as Dealer is not in default to DFS, to release to Dealer. from the Blocked Account, upon request and submitted by Dealer of an updated Collateral Report in form and substance satisfactory to DFS, an amount not to exceed the positive difference, if any, between (i) the Collateral Liquidation Value, minus (ii) one hundred percent (100%) of Dealer's outstanding indebtedness to DFS as of the date of Dealer's request. All other terms as they appear in the Agreement, to the extent consistent with the foregoing, are ratified and remain unchanged and in full force and effect.
Collateral Liquidation Value is defined herein to mean: (i) at Lenders sole discretion up to one hundred percent (100%) of the total aggregate wholesale invoice price of all of Dealer's inventory financed by Lender that is unsold and in Dealer's possession and control; and (ii) eighty five percent (85%) of the total outstanding balance of Dealer's Eligible Accounts: in each case as of the date of the Collateral Report and to the extent Lender has a first priority, fully perfected security interest therein as of the Determination Date. If Dealer from time to time is required to make any payment to Lender pursuant to the terms of this Amendment, or otherwise has any past due obligation discovered during any Collateral review, upon review of a Collateral Report or at any other time, Dealer agrees that acceptance of such payment by Lender shall not be construed to be an express or implied waiver or amendment of this Agreement or of Dealer’s financing program. Dealer waives notice of Lender’s acceptance of this Amendment. All other terms as they appear in the Agreement, to the extent consistent with the foregoing, are ratified and remain unchanged and in full force and effect.
Collateral Liquidation Value is defined herein to mean: (i) one hundred percent (100%) of the total aggregate wholesale invoice price of all of Dealer's inventory financed by DFS that is unsold and in Dealer's possession and control; (ii) fifty percent (50%) of the total aggregate wholesale invoice price of all Dealer's inventory not financed by DFS that is unsold, and in Dealer's possession and control; and (iii) eighty percent (80%) of the total outstanding balance of Dealer's Eligible Accounts: in each case as of the date of the Collateral Summary Report and to the extent DFS has a first priority, fully perfected security interest
Collateral Liquidation Value is defined herein to mean: (i) one hundred percent (100%) of the total aggregate wholesale invoice price of all of Dealer’s inventory financed by CDF that is unsold and in Dealer’s possession and control; and (ii) seventy-five percent (75%) of the total outstanding balance of Dealer’s Eligible Accounts: in each case as of the date of the Collateral Report and to the extent CDF has a first priority, fully perfected security interest therein. If Dealer from time to time is required to make immediate payment to CDF of any past due obligation discovered during any Collateral review, upon review of a Collateral Report or at any other time, Dealer agrees that acceptance of such payment by CDF shall not be construed to have waived or amended the terms of its financing program. Dealer waives notice of CDF’s acceptance of this Amendment. All other terms as they appear in the Agreement, to the extent consistent with the foregoing, are ratified and remain unchanged and remain unchanged and in full force and effect.
Collateral Liquidation Value means one hundred percent (100%) of the total aggregate wholesale invoice price of all of Dealers inventory financed by DFS that, as of any Determination Date, is (a) unsold and in Dealer’s possession and control, (b) subject to a first priority, fully perfected security interest therein by DFS, and (c) subject to repurchase by the Vendor under the terms of any agreement between DFS and the Vendor. Collateral Report shall mean a report compiled by Dealer specifying (a) the total aggregate wholesale invoice price of all of Dealer’s inventory financed by DFS that is unsold and in Dealer’s possession and control as of the date of such Report to the extent DFS has a first priority, fully perfected security interest therein, and (b) an aging of such inventory. Consolidated Adjusted Net Worth shall mean, as of the date any determination thereof is to be made, the sum of (i) the net worth of the Dealer and its subsidiaries on a consolidated basis as at such date, minus, the net book value of all assets of the Dealer and it subsidiaries on a consolidated basis as at such date which are treated as intangibles in accordance with GAAP, including, without limitation, deferred charges, franchise rights, non-compete agreements, goodwill, patents, patent applications, trademarks, trade names, copyrights, licenses, premiums on purchased assets, organizational costs, research and development costs and unamortized debt discount and any write-up in the book value of any such assets resulting from a revaluation thereof, (ii) the unpaid principal balance of the Redemption Note as at such date, and (iii) an amount equal to thirty percent (30%) of the ESP Reserve as at such date.
Collateral Liquidation Value is defined herein to mean: (i) ninety percent (90%) of the net amount of Eligible Government Accounts; and (ii) eighty-five percent (85%) of the net amount of Dealer's Eligible Non-Government Accounts: in each case as of the date of the Collateral Report and to the extent DFS has a first priority, fully perfected security interest therein. If Dealer from time to time is required to make immediate payment to DFS of any past due obligation discovered during any Collateral review, upon review of a Collateral Report or at any other time, Dealer agrees that acceptance of such payment by DFS shall not be construed to have waived or amended the terms of its financing program.
Collateral Liquidation Value is defined herein to mean: (i) one hundred percent (100%) of the total aggregate wholesale invoice price of all of Dealer's inventory financed by DFS that is unsold and in Dealer's possession and control and to the extent DFS has a first priority, fully perfected security interest therein; and (ii) the amount of any Irrevocable Letter of Credit issued by an institution acceptable to DFS, and in a form, amount and upon such other terms as are acceptable to DFS, in its sole discretion: in each case as of the date of the Collateral Report. If Dealer from time to time is required to make immediate payment to DFS of any past due obligation discovered during any Collateral review, upon review of a Collateral Report or at any other time, Dealer agrees that acceptance of such payment by DFS shall not be construed to have waived or amended the terms of its financing program.