Colonial Contracts Advance Rate definition

Colonial Contracts Advance Rate means 50% with respect to Long Term Contracts, 55% with respect to Medium Term Contracts and 55% with respect to all other Vehicle Contracts; provided, however, that the applicable Colonial Contracts Advance Rate shall be (i) reduced by 5.0% for Vehicle Contract that is an Acquired Contract and (ii) further adjusted based upon the most recent Colonial Contracts Advance Rate Adjustment Percent in accordance with the following schedule:
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Colonial Contracts Advance Rate means 50% with respect to Long Term Contracts, 55% with respect to Medium Term Contracts and 55% with respect to all other Vehicle Contracts; provided, however, that the applicable Colonial Contracts Advance Rate shall be (i) reduced by 5.0% for Vehicle Contract that is an Acquired Contract and (ii) further adjusted based upon the most recent Colonial Contracts Advance Rate Adjustment Percent in accordance with the following schedule: Colonial Contracts Advance Rate Adjustment Percentage Colonial Advance Rate Long-Term Contracts Colonial Advance Rate Medium Term Contracts ≤ 36% 50.00% 55.00% >36.00% & ≤ 36.25% 49.75% 54.75% >36.25% & ≤ 36.50% 49.50% 54.50% >36.50% & ≤ 36.75% 49.25% 54.25% >36.75% & ≤ 37.00% 49.00% 54.00% >37.00% & ≤ 37.25% 48.75% 53.75% >37.25% & ≤ 37.50% 48.50% 53.50% >37.50% & ≤ 37.75% 48.25% 53.25% Colonial Contracts Advance Rate Adjustment Percentage Colonial Advance Rate Long-Term Contracts Colonial Advance Rate Medium Term Contracts >37.75% & ≤ 38.00% 48.00% 53.00% >38.00% & ≤ 38.25% 47.75% 52.75% >38.25% & ≤ 38.50% 47.50% 52.50% >38.50% & ≤ 38.75% 47.25% 52.25% >38.75% & ≤ 39.00% 47.00% 52.00% >39.00% & ≤ 39.25% 46.75% 51.75% >39.25% & ≤ 39.50% 46.50% 51.50% >39.50% & ≤ 39.75% 46.25% 51.25% >39.75% & ≤ 40.00% 46.00% 51.00% >40.00% & ≤ 40.25% 45.75% 50.75% >40.25% & ≤ 40.50% 45.50% 50.50% >40.50% & ≤ 40.75% 45.25% 50.25% >40.75% & ≤ 41.00% 45.00% 50.00% >41.00% & ≤ 41.25% 44.75% 49.75% >41.25% & ≤ 41.50% 44.50% 49.50% >41.50% & ≤ 41.75% 44.25% 49.25% >41.75 % & ≤ 42.00% 44.00% 49.00% The Colonial Contracts Advance Rate Adjustment Percent shall be computed monthly by Colonial (subject to the review and approval of the Agent) and be included in its Colonial Borrowing Base Report delivered pursuant to Section 8.1 hereof, at which time any adjustment to the Colonial Contract Advance Rate based on such computation shall become effective and thereafter remain in effect until delivery of a Colonial Borrowing Base Report following the end of the next calendar month. If Colonial fails to deliver its Colonial Borrowing Base Report or provide the Colonial Contracts Advance Rate Adjustment Percentage computation as so required, the Colonial Contracts Advance Rate Adjustment Percentage shall be deemed to be equal to 42.0% until such Colonial Borrowing Base Report or the Colonial Contracts Advance Rate Adjustment Percentage is delivered.
Sample 1
Colonial Contracts Advance Rate. 50% with respect to Long Term Contracts, 55% with respect to Medium Term Contracts and 55% with respect to all other Vehicle Contracts; provided, however, that the applicable Contracts Advance Rate shall be reduced by 0.25% for each 0.25% (or portion thereof) that the Contracts Advance Rate Adjustment Percent for the month immediately preceding the date of determination exceeds 36%; in each instance such adjustment shall be calculated as of the last day of each month and shall be effective as of the first day of the month immediately following the date of determination, based upon information delivered by Borrowers to Agent pursuant to Section 8. For example, if the Colonial Contracts Advance Rate Adjustment Percent is 36.10%, the Colonial Contracts Advance Rate shall be 49.75% with respect to Long Term Contracts, 54.75% with respect to Medium Term Contracts and 54.75% with respect to all other Vehicle Contracts; if the Colonial Contracts Advance Rate Adjustment Percent is 36.30%, the Colonial Contracts Advance Rate shall be 49.50% with respect to Long Term Contracts, 54.50% with respect to Medium Term Contracts and 54.50% with respect to all other Vehicle Contracts; if the Colonial Contracts Advance Rate Adjustment Percent is 36.6%, the Colonial Contracts Advance Rate shall be 49.25% with respect to Long Term Contracts, 54.25% with respect to Medium Term Contracts and 54.25% with respect to all other Vehicle Contracts; if the Colonial Contracts Advance Rate Adjustment Percent is 36.90%, the Colonial Contracts Advance Rate shall be 49% with respect to Long Term Contracts, 54% with respect to Medium Term Contracts and 54% with respect to all other Vehicle Contracts; if the Colonial Contracts Advance Rate Adjustment Percent is 37.10%, the Colonial Contracts Advance Rate shall be 48.75% with respect to Long Term Contracts, 53.75% with respect to Medium Term Contracts and 53.75% with respect to all other Vehicle Contracts; and so on.
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Examples of Colonial Contracts Advance Rate in a sentence

  • Permit the Colonial Contracts Advance Rate Adjustment Percent to exceed 40% for any 2 consecutive 1-month periods.

  • Not permit the Colonial Contracts Advance Rate Adjustment Percentage to be greater than 42.0% for any three (3) consecutive months.

  • Not permit the Colonial Contracts Advance Rate Adjustment Percentage to be greater than 42.0% for any two (2) consecutive months.


More Definitions of Colonial Contracts Advance Rate

Colonial Contracts Advance Rate as set forth in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:
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Related to Colonial Contracts Advance Rate

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

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

  • Credit Card Advance Rate means 90%.

  • Advance Rate has the meaning assigned to such term in Section 5.13.

  • Advance Rates shall have the meaning set forth in Section 2.1(a) hereof.

  • Maximum Advance Rate means 80.0%.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • Applicable Letter of Credit Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.”

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • Applicable Commitment Fee Rate means:

  • Loan Advance The meaning specified in Section 2.2(a).

  • Required Daily Deposit Target Finance Charge Amount means, for any day in a Due Period, an amount equal to the Class A Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest Allocation cannot be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation determined based on a pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Administrative Fee Rate The sum of the Servicing Fee Rate, the Trustee/Certificate Administrator Fee Rate and the CREFC® Licensing Fee Rate.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Undrawn Fee Rate For any VFN Class, the rate set forth or described in the related Indenture Supplement, if any. United States and U.S.: The United States of America.

  • Required Daily Deposit Target Principal Amount means, for any day in a Due Period, (i) if such Due Period is in [the Accumulation Period for the Class A( - ) Notes, the Accumulation Amount], (ii) if such day is on or after the occurrence and during the continuance of a Class A( - ) Adverse Event, the Nominal Liquidation Amount of the Class A( - ) Notes, and (iii) in all other circumstances, zero.

  • Enclosed, locked facility means a building, room, greenhouse, outdoor fenced-in area, or other location that is enclosed on all sides and prevents cannabis from easily being viewed by the public. The facility shall be equipped with locks or other security devices that permit access only by:

  • Equipment Advance is defined in Section 2.1.1.

  • Unused Facility Fee has the meaning specified in Section 2.09(a).

  • Net Servicing Fee Rate means (a) so long as the Seller or The Bank of New York is the Servicer, 1.25% per annum and (b) if the Seller or The Bank of New York is no longer the Servicer, 2.0% per annum.

  • Master Servicing Fee Rate With respect to each Mortgage Loan, 0.25% per annum.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Special Servicing Fee Rate With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.25% per annum.