Fixed Asset Component definition

Fixed Asset Component means the lesser of (i) the sum of (A) from and after the Real Property Activation Date, the Real Property Percentage of 75% of the Value of Eligible Real Property plus (B) 85% of the NOLV Percentage of Eligible M&E of the Loan Parties (with the amount attributable to this clause (B), as of the date of any determination, to be no greater than the amount attributable to this clause (B) on the Closing Date) and (ii) $175,000,000.

Fixed Asset Component means the lesser of (i) the sum of (A) from and after the Real Property Activation Date, the Real Property Percentage of 75% of the Value of Eligible Real Property plus (B) 85% of the NOLV Percentage of Eligible M&E of the Loan Parties (with the amount attributable to this clause (B), as of the date of any determination, to be no greater than the amount attributable to this clause (B) on the Closing Date) and (ii) $200,000,000.

Fixed Asset Component means, on any date, an amount equal to the sum of (i) 80% of the Net Orderly Liquidation Value of Eligible Equipment plus (ii) 50% of the fair market value of Eligible Real Estate (as set forth in the most recent third party real estate appraisal in form and substance, and prepared by an independent appraisal firm, reasonably satisfactory to the Administrative Agent ) less (iii) reserves as are deemed necessary from time to time by the Administrative Agent in its reasonable discretion, including a reserve in respect of matters disclosed in the December 2005 environmental consultant report that was delivered to the Administrative Agent prior to the Closing Date.

Examples of Fixed Asset Component in a sentence

• To the extent that the Collateral sold, lost, destroyed or condemned consists of Equipment or real Property, then, except as otherwise provided below, the applicable prepayment shall be applied to reduce permanently the Fixed Asset Component.

• If such damaged or lost Collateral is not replaced or repaired within such 180 day (or such longer period as reasonably consented to by Agent) period, then the Fixed Asset Component shall be permanently reduced by the amount of such proceeds.

• Notwithstanding the foregoing, none of the Liens permitted pursuant to this Section 6.2 may at any time attach to any Loan Party’s (i) Accounts, other than those permitted under clause (a) of the definition of Permitted Encumbrance and Section 6.2(a) above, (ii) Inventory, other than Permitted Senior Encumbrances and Section 6.2(a) above and (iii) other assets included in the Fixed Asset Component of each Borrower, other than Permitted Senior Encumbrances.

• Upon receipt of the Canadian Fixed Asset Component Limit Notice, the Canadian Administrative Agent shall distribute the Canadian Fixed Asset Component Limit Notice to the Canadian Revolving Lenders.

• If on any Business Day, the aggregate Fixed Asset Component Loans comprising Revolving Credit Loans outstanding exceeds the Fixed Asset Component of the Borrowing Base, then, Collections shall thereafter be deemed to be applied to reduce the outstanding Fixed Asset Component Loans in an amount equal to such excess.

More Definitions of Fixed Asset Component

Fixed Asset Component means, on any date, an amount equal to the sum of (i) 80% of the Net Orderly Liquidation Value of Eligible Equipment plus (ii) 50% of the fair market value of Eligible Real Estate (as set forth in the most recent third party real estate appraisal in form and substance, and prepared by an independent appraisal firm, reasonably satisfactory to the Administrative Agent ) less (iii) reserves as are deemed necessary from time to time by the Administrative Agent in its reasonable discretion, including a reserve in respect of matters disclosed in the environmental consultant report required to be delivered pursuant to Section 5.12.

Fixed Asset Component means $55,000,000 in respect of Collateral consisting of real property and equipment; minus $1,000,000 multiplied by the number of Anniversary Dates that have passed, as an amortization factor related to Collateral consisting of real property and equipment.

Fixed Asset Component means, on any date, an amount equal to the sum of

Fixed Asset Component means, at any date, the lesser of (a)(i) 85% of the Borrowers’ Eligible Real Property at such time, based on the fair market value of such Eligible Real Property as determined in the most recent appraisal ordered by the Administrative Agent, plus (ii) the product of 85% multiplied by the Net Orderly Liquidation Value percentage identified in the most recent equipment appraisal ordered by the Administrative Agent multiplied by the Borrowers’ Eligible Equipment, and (b) the Fixed Asset Sublimit.

Fixed Asset Component has the meaning specified in the definition "Borrowing Base" set forth in this Agreement.

Fixed Asset Component means $15,000,0000; provided that the Fixed Asset Component shall be reduced by (a) the Monthly Fixed Asset Amortization Amount on the first day of each month commencing with August 1, 2006 and continuing on the first day of each month thereafter throughout the term of this Agreement and (b) the percentage of the appraised value (as of the Effective Date) of any Fixed Asset Collateral which (i) is the subject of a casualty event (including, without limitation, damage, destruction or condemnation) or a Permitted Fixed Asset Disposition, or (ii) is no longer Eligible Equipment or Eligible Mortgaged Real Property, as applicable, less in each case the portion of such amount that has already been reduced from the Fixed Asset Component as a result of prior Monthly Fixed Asset Amortization Amount reductions, in each case such amounts being determined by the Administrative Agent in its sole discretion.

Fixed Asset Component means the lesser of (a) $10,000,000 or (b) 50% of the appraised value as of April 2004 of the Pekin Facility, as determined by Xxxxxx & Click, Inc. and subject to review and approval by the Administrative Agent in its sole discretion (such lesser amount being referred to as the “Original Fixed Asset Component”); provided that the Fixed Asset Component shall be reduced (a) by an amount equal to one-twelfth (1/12) of the Original Fixed Asset Component on the last day of each Fiscal Quarter commencing September 30, 2004 and continuing throughout the term of this Agreement, and (b) on March 30th of each calendar year commencing March 30, 2005, by 25% of the Free Cash Flow for the Fiscal Year most recently ended but not to exceed $2,000,000 for any Fiscal Year; provided further that, in no event shall the Fixed Asset Component be less than $0.00; and provided further that, on the date of the Disposition, the Fixed Asset Component shall reduce to $0.00.