{"component": "definition", "props": {"groups": [{"snippet": "the percent, determined for Borrowers\u2019 most recent Fiscal Quarter, equal to (a) bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts, divided by (b) gross sales.", "snippet_links": [{"key": "most-recent-fiscal-quarter", "type": "definition", "offset": [39, 65]}, {"key": "equal-to", "type": "definition", "offset": [67, 75]}, {"key": "bad-debt", "type": "definition", "offset": [80, 88]}, {"key": "credit-memos", "type": "clause", "offset": [157, 169]}, {"key": "with-respect-to-accounts", "type": "clause", "offset": [195, 219]}, {"key": "divided-by", "type": "clause", "offset": [221, 231]}, {"key": "gross-sales", "type": "definition", "offset": [236, 247]}], "samples": [{"hash": "hgtfu4qKRmL", "uri": "/contracts/hgtfu4qKRmL#dilution-percent", "label": "Loan and Security Agreement (Orion Energy Systems, Inc.)", "score": 35.3107452393, 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Percent", "size": 271, "id": "dilution-percent", "examples": ["<strong>Dilution Percent</strong>: the percent, determined for Borrowers\u2019 most recent trailing twelve month period, equal to (a) bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts, divided by (b) gross sales.", "Dilution Reserve: as of any date of determination, an amount sufficient to reduce the advance rate against Eligible Accounts by one (1) percentage point for each one-half of one (0.50) percentage point by which the <strong>Dilution Percent</strong> is in excess of 7.5%.", "U.S. Dilution Reserve: as of any date of determination, an amount sufficient to reduce the advance rate against Eligible Accounts of the U.S. Borrowers by one (1) percentage point for each whole percentage point (or portion thereof) by which the <strong>Dilution Percent</strong> is in excess of 5.0%.", "<strong>Dilution Percent</strong> - the percent, determined for Borrowers\u2019 most recent Fiscal Quarter, equal to (a) bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts, divided by (b) gross sales.", "US Dilution Reserve: a reserve established by Agent in its Permitted Discretion if the <strong>Dilution Percent</strong> of US Borrowers for any period exceeds such <strong>Dilution Percent</strong> for US Borrowers in existence on the Closing Date, which reserve shall be in an amount equal to 1.0% of Eligible US Accounts for each whole percentage point (or fraction thereof) that <strong>Dilution Percent</strong> of US Borrowers exceeds such percentage.", "U.S. Billed Accounts Formula Amount: (a) 90% of the Value of U.S. Eligible Accounts owing by Investment Grade Account Debtors, plus (b) 85% of the Value of U.S. Eligible Accounts owing by other Account Debtors; provided, that such percentages shall be reduced by 1.0% for each percentage point (or portion thereof) that the <strong>Dilution Percent</strong> exceeds 5.0%.", "<strong>Dilution Percent</strong>: the percent, determined for Borrowers\u2019 most recent twelve months then ended, equal to (a) bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts, divided by (b) gross sales.", "Accounts Formula Amount: as of the date of determination, 85% of the Value of Eligible Accounts; provided, however, that such percentage shall be reduced by 1.0% for each percentage point (or portion thereof) that the <strong>Dilution Percent</strong> exceeds 5%.", "Dilution Reserve \u2013 on any date an amount equal to the outstanding amount of Eligible Accounts on such date multiplied by a percentage that is equal to each percentage point (or part thereof) that the <strong>Dilution Percent</strong> on such date exceeds 5% (for example, if the <strong>Dilution Percent</strong> on such date is 6.5%, then the applicable percentage of the multiplier in calculating the Dilution Reserve would be 1.5%).", "<strong>Dilution Percent</strong> \u2014 the percent, determined on a trailing twelve month basis as of the end of Borrowers\u2019 most recent month, equal to (a) credit memos issued for bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts, divided by (b) gross sales."], "related": [["dilution-percentage", "Dilution Percentage", "Dilution Percentage"], ["allocation-percentage", "Allocation Percentage", "Allocation Percentage"], ["average-contribution-percentage", "Average Contribution Percentage", "Average Contribution Percentage"], ["valuation-percentage", "Valuation Percentage", "Valuation Percentage"], ["contribution-percentage", "Contribution Percentage", "Contribution Percentage"]], "related_snippets": [], "updated": "2026-02-07T04:24:37+00:00"}, "json": true, "cursor": ""}}