FILO Amount from and after the FILO Commencement Date, as of any date of determination, the Dollar-equivalent result of:
FILO Amount means the lesser of (a) 5.0% (reduced by 0.417% on the end of each fiscal quarter, commencing June 30, 2019) of Eligible Accounts (other than Eligible Credit Enhanced Accounts) and Eligible Unbilled Accounts and (b) $15,000,000 (reduced by $1,250,000 on the end of each fiscal quarter, commencing June 30, 2019); provided that the FILO Amount shall be zero on and after June 30, 2022.
FILO Amount. (a) the lesser of (i) $4,000,000 and (ii) 5% of the Value of Eligible Accounts; provided, that, notwithstanding anything else contained herein, commencing on the October 1, 2020, the amount set forth in clause (a)(i) above and the percentage set forth in clause (a)(ii) above shall be reduced by $222,222 per month with respect to clause (a)(i) and 0.278% per month with respect to clause (a)(ii) until reduced to zero in each case.
Examples of FILO Amount in a sentence
All Revolving Credit Loans outstanding from time to time up to the FILO Amount shall be deemed to be outstanding FILO Loans for all purposes under this Agreement.
Subject to Section 2.1.5, if an Overadvance exists at any time (including, without limitation, with respect to the U.S. Revolver Loans as the result of a scheduled reduction in the FILO Amount), the Borrower Group owing such Overadvance shall, on the sooner of Agent’s demand or the first Business Day after any Borrower of such Borrower Group has knowledge thereof, repay Revolver Loans in an amount sufficient to reduce Revolver Usage of such Borrower Group to the Borrowing Base of such Borrower Group.
Notwithstanding anything to the contrary contained herein, given that U.S. Borrowers elected to utilize FILO Loans on the Original Closing Date, all U.S. Revolver Loans outstanding from time to time up to the FILO Amount shall be deemed to be outstanding FILO Loans for all purposes under this Agreement.
Notwithstanding anything to the contrary in this Agreement, all Revolving Credit Loans outstanding from and after the First Amendment Date up to the FILO Amount (until the FILO Amount is $0) shall be deemed to be “FILO Loans”.
Notwithstanding anything to the contrary in this Agreement, all Loans outstanding from time to time up to the FILO Amount during the FILO Period shall be deemed to be “FILO Loans”.
More Definitions of FILO Amount
FILO Amount means the lesser of (a) 5.0% (reduced by 0.417% on the end of each fiscal quarter, commencing September 30, 2017) of Eligible Accounts (other than Eligible Credit Enhanced Accounts) and Eligible Unbilled Accounts and (b) $20,000,000 (reduced by $1,666,666.67 on the end of each fiscal quarter, commencing September 30, 2017); provided that the FILO Amount shall be zero on and after July 21, 2020. “FILO Loan” means a Revolving Credit Loan that is borrowed and deemed outstanding as a “FILO Loan” pursuant to Section 2.01(a). “FIRREA” means The Financial Institutions Reform, Recovery, and Enforcement Act of 1989. “Fixed Charge Trigger Period” means the period (a) commencing on the day when Adjusted Excess Availability is less than the greater of (i) $17,500,000 and (ii) 10.0% of the Maximum Borrowing Amount and (b) continuing until the day Adjusted Excess Availability exceeds the greater of (i) $17,500,000 and (ii) 10.0% of the Maximum Borrowing Amount for thirty (30) consecutive days. “FLSA” means the Fair Labor Standards Act of 1938. “Foreign Activities Laws” has the meaning specified in Section 7.11. “Foreign Lender” means (a) if the applicable Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the applicable Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes. “Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. “FRB” means the Board of Governors of the Federal Reserve System of the United States. “Freight Carrier” shall mean a motor transport, rail or other carrier that provides transportation of property under contracts with shippers and receivers and/or brokers of general commodities. “Freight Carrier Document” shall mean any agreement, instrument or other document pursuant to which a Freight Carrier agrees to provide transportation of property on behalf of any other Person. “Freight Payable” shall mean any and all freight or other charges payable to a Freight Carrier in respect of transportation services provided by such Freight Carrier pursuant to a Freight Carrier Document or otherwise. “Fronting Exposure” means, at any time there is a Defaulting Lender that is a Revolving Credit Lender, (a) with respect to the Letter of Credit Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding Letter of Credit Obligations other than Letter of Credit Obligations as to which such Defa...
FILO Amount means, at any time, an amount equal to the lesser of (a) the FILO Cap Amount and (b) (i) 10% multiplied by the Value of Eligible Accounts plus (ii) the lesser of (A) 10% multiplied by the Cost of Eligible Inventory and (B) 10% multiplied by the NOLV of Eligible Inventory.
FILO Amount has the meaning specified in clause (b) of the definition of Borrowing Base.
FILO Amount means, at any time an amount equal to the lesser of (a) the FILO Cap Amount and (b) (i) the applicable FILO Advance Rate times the of the face amount (less maximum discounts, credits and allowances which may be taken by or granted to Account Debtors in connection therewith in the ordinary course of Borrowers’ business) of Borrowers’ Eligible Accounts, plus (ii) the applicable FILO Advance Rate times the lower of cost or market value of Eligible Cigarette Inventory; plus (iii) the applicable FILO Advance Rate times the lower of cost or market value of Eligible Inventory(consisting solely of Eligible Inventory other than Eligible Cigarette Inventory set forth in clause (ii) above); plus (iv) the applicable FILO Advance Rate times the fair market value of all Eligible Real Property.
FILO Amount means, at any time, an amount equal to the lesser of (a) the FILO Cap Amount and (b) (i) 10% multiplied by the Value of Eligible Accounts plus (ii) the lesser of (A) 10% multiplied by the Cost of Eligible Inventory and (B) 10% multiplied by the NOLV of Eligible Inventory. “FILO Cap Amount” means (a) as of any date of determination prior to September 1, 2025, $2,500,000, and (b) as of any date of determination on or after September 1, 2025, $2,000,000, as reduced on the first day of each subsequent month, commencing with the month beginning on October 1, 2025, in the amount of $500,000. “FILO Loan” means a Revolving Credit Loan that is borrowed and deemed outstanding as a “FILO Loan” pursuant to Section 2.01(a). 35
FILO Amount means, at any time, an amount equal to the lesser of (a) the FILO Cap Amount and (b) (i) two times (2x) the applicable FILO Advance Rate times the Value of Eligible Accounts other than Eligible Investment Grade Accounts, plus (ii) the applicable FILO Advance Rate times the Value of Eligible Investment Grade Accounts; plus (iii) the applicable FILO Advance Rate times the Eligible Equipment Formula Amount.
FILO Amount shall have the meaning specified thereof in the definition of Borrowing Base set forth in this Schedule 1.1 to the Agreement.