Individual Formula Amount means at the date of determination thereof, with respect to each Borrower an amount equal to: (a) the Receivables Advance Rate of Eligible Receivables of such Borrower, minus (b) the aggregate ----- amount of Letters of Credit outstanding of such Borrower, minus (c) such ----- reserves as Agent may reasonably deem proper and necessary from time to time.

Individual Formula Amount means at the date of determination thereof, with respect to each Borrower an amount equal to: (a) up to the Receivables Advance Rate of Eligible Receivables of such Borrower, plus (b) with respect to DMS, up to the DMS Contract Receivables Advance Rate of the Eligible DMS Contract Receivables, minus (c) such reserves as Agent may reasonably deem proper and necessary from time to time.

Examples of Individual Formula Amount in a sentence

Each Lender, severally and not jointly, will make Revolving Advances to each Borrower in aggregate amounts outstanding at any time not greater than such Lender's Commitment Percentage of the lesser of (x) such Borrower's Individual Maximum Revolving Advance Amount or (y) such Borrower's Individual Formula Amount.
The DLIs were structured around the key issues faced by the state and provided sufficient flow of funds for Program implementation based on results achieved.
Each Lender, severally and not jointly, will make Revolving Advances to each Borrower in aggregate amounts outstanding at any time not greater than such Lender's Commitment Percentage of the lesser of (x) such Borrower's Individual Maximum Revolving Advance Amount less the aggregate amount of outstanding Letters of Credit or (y) such Borrower's Individual Formula Amount less the aggregate amount of outstanding Letters of Credit.
Subject to Section 2.1(a), each Lender, severally and not jointly, will make Revolving Advances to each Borrower in aggregate amounts outstanding at any time not greater than such Lender's Commitment Percentage of the lesser of (x) such Borrower's Individual Maximum Revolving Advance Amount or (y) such Borrower's Individual Formula Amount.
Each Lender, severally and not jointly, will make Advances to each Borrower in aggregate amounts outstanding at any time not greater than such Lender's Commitment Percentage of such Borrower's Individual Formula Amount.

More Definitions of Individual Formula Amount

Individual Formula Amount means, at the date of determination thereof, with respect to each Borrower an amount equal to: (a) up to the Receivables Advance Rate of the sum of Eligible Receivables of such Borrower less its Dilution Reserve, plus (b) up to the Inventory Advance Rate of the value of Eligible Inventory of such Borrower; plus (c) the product of (i) the aggregate amount of outstanding Trade L/C Exposure of such Borrower times (ii) the Inventory Advance Rate, plus (d) Cash Collateral of such Borrower, minus (e) such other reserves as the Administrative Agent in its Permitted Discretion deems proper and necessary from time to time.

Individual Formula Amount means at the date of determination thereof, with respect to each Business Segment an amount equal to: (a) up to the Receivables Advance Rate of Eligible Receivables of such Business Segment, plus (b) up to the Inventory Advance Rate of the value of Eligible Inventory of such Business Segment; minus (c) the aggregate amount of Letters of Credit issued or caused to be issued on behalf of such Business Segment and the outstanding principal amount of Swingline Loans made to such Business Segment minus (d)

Individual Formula Amount means at the date of determination thereof, (a) with respect to ADI, an amount equal to:

Individual Formula Amount means at the date of determination thereof, with respect to each Borrower an amount equal to: (a) the lesser of (A) up to the Equipment Advance Rate of the sum of the Discounted Cost of Eligible Leased Equipment (other than Used Equipment) of such Borrower, PLUS the lesser of (x) up to the Equipment Advance Rate of the cost of Used Equipment of such Borrower and (y) up to the Equipment Advance Rate of the Orderly Liquidation Value of Used Equipment of such Borrower or (B) up to the Lease Advance Rate of the amount of the periodic payments due under the Eligible Leases of such Borrower discounted at the Discount Rate, in each case amortized in equal monthly amounts over 23, 35 or 47 months from each initial Take Down Date depending on the term of the applicable Equipment Lease (it being the intention of the parties that the amortization schedule be one month less than the lease term, but in no event is the applicable amortization schedule to exceed 47 months), MINUS (b) such reserves as Agent may reasonably deem proper and necessary from time to time.

Individual Formula Amount means at the date of determination thereof, an amount equal to:

Individual Formula Amount means at the date of determination thereof, with respect to each Operating Division an amount equal to: (a) up to the Receivables Advance Rate of Eligible Receivables of such Operating Division, plus (b) up to the Inventory Advance Rate of the value of Eligible Inventory of such Operating Division, minus (c) such reserves as Agent may reasonably deem proper and necessary from time to time.

Individual Formula Amount means at the date of determination thereof, with respect to each Borrower an amount equal to: (a) up to the Receivables Advance Rate of Eligible Receivables of such Borrower, MINUS (b) such reserves as Agent may reasonably deem proper and necessary from time to time.