FILO Borrowing Base definition

FILO Borrowing Base means, at any time of calculation, an amount equal to:

FILO Borrowing Base means, the sum of, without duplication:

FILO Borrowing Base has the meaning set forth in Section 2.01(b).

Examples of FILO Borrowing Base in a sentence

• Additionally, there shall be no limitation on the number or frequency of Inventory appraisals if an Event of Default has occurred and is continuing, and the Loan Parties shall be responsible for the costs and expenses of any such appraisals conducted (x) while an Event of Default has occurred and is continuing or (y) at the request of a Loan Party in connection with the addition of a new Loan Party or new Revolving Borrowing Base or FILO Borrowing Base assets hereto.

• The Borrower shall furnish to the Administrative Agent and the FILO Documentation Agent any information that the Administrative Agent or the FILO Documentation Agent may reasonably request regarding the determination and calculation of the Borrowing Base and the FILO Borrowing Base including correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all Account Debtors in respect of Accounts referred to therein.

• The request by the Lead Borrower for, and the acceptance by any Borrower of, each extension of credit hereunder shall be deemed to be a representation and warranty by the Loan Parties that the conditions specified in this SECTION 4.02 have been satisfied at that time and that after giving effect to such extension of credit the Borrowers shall continue to be in compliance with the then FILO Borrowing Base (or, if the FILO Commitments have been terminated, the then Tranche A Borrowing Base).

• In the event the FILO Agent conducts any such Acceptable Inventory Appraisals pursuant to the terms hereof, the Administrative Agent and the Borrowers shall promptly (but in any event within two (2) Business Days of receipt of the results of such appraisal from the FILO Agent) implement the Net Orderly Liquidation Value set forth in such appraisal to the calculation of the Revolving Borrowing Base and the FILO Borrowing Base.

• Aggregate Borrowing Base, FILO Borrowing Base and Revolving Borrowing Base calculations shall be made in a manner satisfactory to Agent in its Permitted Discretion (and not necessarily in accordance with GAAP).

More Definitions of FILO Borrowing Base

FILO Borrowing Base means, at any time as set forth in the most recently delivered FILO Borrowing Base Certificate, the sum of:

FILO Borrowing Base on any date of determination, an amount equal to the sum of (a) the Applicable FILO Account Advance Percentage of the Value of Eligible Accounts, plus (b) the Applicable FILO Inventory Advance Percentage of the Value of Eligible Inventory (excluding Specified Inventory), provided, that the Agent shall have the right, in its Permitted Discretion, to reduce such percentages at any time upon three (3) Business Days prior notice to the Borrower Agent, and provided further that (i) Eligible In-Transit Inventory shall in no event contribute more than $1,000,000 (after giving effect to the percentage set forth in clause (b) above) to the FILO Borrowing Base at any time and (ii) Eligible Accounts owing to and Eligible Inventory held by the UK Guarantors shall not contribute more than an aggregate of $500,000 (after giving effect to the percentages set forth in clauses (a) and (b) above, respectively) to the FILO Borrowing Base at any time. If any amount in this definition is stated in a currency other than Dollars on any date, then such amount on such date shall be equal to the Dollar Equivalent of such amount in such other currency. FILO Commitment: for any Lender, its obligation to make FILO Loans up to a maximum principal amount equal to its Applicable FILO Percentage (as shown on Schedule 1.1(a), as hereafter modified pursuant to an Assignment and Acceptance to which it is a party, or pursuant to Section 2.1.4) of the Aggregate FILO Commitment Amount at such time. FILO Commitments: the aggregate FILO Commitments of all Lenders which, during any applicable period, shall equal the Aggregate FILO Commitment Amount for such period. FILO Exposure: at any time, the outstanding principal amount of FILO Loans at such time.

FILO Borrowing Base means, at any time, an amount equal to (a) the Trade Receivables Component plus (b) the Inventory Component plus (c) the Credit Card Receivables Component minus (d) the amount of all Reserves (other than any FILO Reserves) as may have been established in accordance with Section 2.25 at such time. The FILO Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(q) and Reserves established pursuant to Section 2.25.

FILO Borrowing Base without the written Consent of each FILO Lender, in each case without limitation of clause (j) below;

FILO Borrowing Base means the aggregate of the FILO CGI Borrowing Base and the FILO Swiss Borrowing Base (the FILO Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 10.1(i), as adjusted to give effect to Borrowing Base Reserves (in accordance with and subject to the limitations of Section 2.19) following such delivery);

FILO Borrowing Base as defined in Section 2.10(c).

FILO Borrowing Base or otherwise change the definition of the term “FILO Borrowing Base” or any component definition thereof if as a result thereof the amounts available to be borrowed by the Borrowers would be increased, in each case, without the written consent of the Supermajority FILO Lenders, or (ii) change the definition of “FILO Push Down Reserve” (or any component definition of such term) or cease to deduct from the ABL Borrowing Base (or fail to establish or maintain) the FILO Push Down Reserve, in each case, without the written consent of the Supermajority FILO Lenders; provided, that the foregoing clause (j) shall not limit the discretion of the Agent to change, establish, reduce or eliminate any Reservesreserves or to exercise -143- 6245414.1