IP Advance Rate definition

IP Advance Rate means fifty percent (50.00%).
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IP Advance Rate means, 35%; provided, that commencing on July 23, of each year and continuing until and including November 1 of the same year, such percentage shall be increased to 75%.
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IP Advance Rate is hereby amended and restated by deleting the text thereof in its entirety and substituting in its place the following:
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Examples of IP Advance Rate in a sentence

  • Sprayed-on friable ACM (such as ceiling insulation) will be accounted for in the record if present.


More Definitions of IP Advance Rate

IP Advance Rate means fifty-five percent (55%); provided, that effective as of the earlier of (i) the due date for the delivery of the Borrowing Base Certificate for September 2020 (as determined by Section 8.1 hereof), and (ii) the date of delivery of the Borrowing Base Certificate due for September 2020, and continuing monthly thereafter, the IP Advance Rate shall be reduced by one percent (1.0%) per month from the rate then in effective for the immediately preceding month.”
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IP Advance Rate means fifty percent (50.00%50%) (as adjusted from time to time pursuant to the terms of this definition). In the case of any repayment or prepayment of Term Loans pursuant to the provisions hereof, the IP Advance Rate shall be reduced, with every $1,000,000 in aggregate principal amount of Term Loans so repaid or prepaid by the Borrower (from the First Amendment Effective Date) equating to a 75 basis point reduction in the IP Advance Rate (e.g., if the amount of any repayment or prepayment was $1,000,000 and the IP Advance Rate prior to such prepayment was 50%, such IP advance rate will be reduced to 49.25%). If any repayment or prepayment is of a greater or lesser amount than $1,000,000, the IP Advance Rate shall be reduced proportionally based on the formula set forth above, rounded to the second decimal place. Any such reduction in the IP Advance Rate shall be implemented by the Administrative Agent and shall become effective on the date of any applicable repayment or prepayment (regardless of amount).
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IP Advance Rate means 65%; provided, however, from and after March 31, 2023, such advance rate shall automatically reduce by an amount equal to 1.25% on the last day of each calendar quarter until such advance rate equals 55%. “IRC” means the Internal Revenue Code of 1986, as in effect from time to time. “Joinder” means a joinder agreement substantially in the form of Exhibit J-1 to this Agreement. “Landlord Reserve” means, as to each location at which a Borrower has Inventory or books and records located and as to which a Collateral Access Agreement has not been received by Agent, a reserve in an amount equal to three (3) months’ rent, storage charges, fees or other amounts under the lease or other applicable agreement relative to such location or, if greater and Agent so elects, the number of months’ rent, storage charges, fess or other amounts for which the landlord, bailee, warehouseman or other property owner will have, under applicable law, a Lien in the Inventory of such Borrower to secure the payment of such amounts under the lease or other applicable agreement relative to such location. “Lender” has the meaning set forth in the preamble to this Agreement, shall include any other Person made a party to this Agreement pursuant to the provisions of Section 13.1 of this Agreement and “Lenders” means each of the Lenders or any one or more of them. “Lender Group” means each of the Lenders and Agent, or any one or more of them. “Lender Group Expenses” means all (a) reasonable and documented costs or expenses (including taxes and insurance premiums) required to be paid by any Loan Party or its Subsidiaries under any of the
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IP Advance Rate means forty-eight and seventy-five one hundredths percent (48.75%); provided, that effective as of the earlier of (i) the due date for the delivery of the Borrowing Base Certificate for September 2020 (as determined by Section 8.1 hereof), and (ii) the date of delivery of the Borrowing Base Certificate due for September 2020, and continuing monthly thereafter, the IP Advance Rate shall be reduced by one percent (1.0%) per month from the rate then in effective for the immediately preceding month.” Except to the extent expressly provided in this letter, the terms and conditions of the Loan Agreement and each other Loan Document shall remain in full force and effect. This letter, the Loan Agreement and the other Loan Documents constitute and contain the entire agreement of the parties hereto and supersede any and all prior agreements, negotiations, correspondence, understandings and communications between the parties, whether written or oral, respecting the subject matter hereof. Further to our discussions, we ask that the Borrower Agent confirm Borrowers’ agreement to the foregoing matters by countersigning a copy of this letter in the space provided below and thereafter returning a signed copy to the undersigned at your earliest opportunity. Summer Infant (USA), Inc. Attn: Sxxxxx Xxxxx, CEO March 24, 2020 This letter shall be deemed to be a Loan Document for all purposes. Please do not hesitate to contact us with any questions that you may have. Very truly yours, PATHLIGHT CAPITAL LLC, as Agent By /s/ Kxxx Xxxxxx Name: Kxxx Xxxxxx Title: Managing Director [Signatures continued on the following page] THE FOREGOING IS ACKNOWLEDGED AND AGREED TO: BORROWERS: SUMMER INFANT, INC. By: /s/ Pxxx Xxxxxxxx Name: Pxxx Xxxxxxxx Title: Chief Financial Officer SUMMER INFANT (USA), INC. By: /s/ Pxxx Xxxxxxxx Name: Pxxx Xxxxxxxx Title: Chief Financial Officer GUARANTORS: SUMMER INFANT CANADA, LIMITED By: /s/ Pxxx Xxxxxxxx Name: Pxxx Xxxxxxxx Title: Chief Financial Officer SUMMER INFANT EUROPE LIMITED By: /s/ Pxxx Xxxxxxxx Name: Pxxx Xxxxxxxx Title: Chief Financial Officer
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IP Advance Rate means sixty percent (60%), provided, that the IP Advance Rate shall be reduced (a) by one and one-quarter percent (1.25%) for each $218,0750 in Term Loan principal reduction repayments (whether such repayment made is (i) mandatory or (ii) voluntary) received by the Lenders, and (b) by the IP Advance Rate Reduction Amount, where applicable
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Related to IP Advance Rate

  • Advance Rate has the meaning assigned to such term in Section 5.13.

  • Maximum Advance Rate means 80.0%.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Credit Card Advance Rate means 90%.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Advance Rates shall have the meaning set forth in Section 2.1(a) hereof.

  • Maximum Revolving Advance Amount means $30,000,000.

  • Replacement Reference Rate means a reference rate which is:

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the relevant Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards:

  • Original Reference Rate means the originally-specified benchmark or screen rate (as applicable) used to determine the Rate of Interest (or any component part thereof) on the Notes.

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Applicable Reference Rate means with respect to any Loan made in any currency, the rate indicated on Annex II under the heading “Applicable Reference Rate” for such currency.

  • Reference Rate means the rate specified as such hereon.

  • Revolving Advance has the meaning given in Section 2.1.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • Blended Rate means, with respect to any Taxable Year, the sum of the effective rates of tax imposed on the aggregate net income of the Corporate Taxpayer in each state or local jurisdiction in which the Corporate Taxpayer files Tax Returns for such Taxable Year, with the maximum effective rate in any state or local jurisdiction being equal to the product of: (i) the apportionment factor on the income or franchise Tax Return filed by the Corporate Taxpayer in such jurisdiction for such Taxable Year, and (ii) the maximum applicable corporate tax rate in effect in such jurisdiction in such Taxable Year. As an illustration of the calculation of Blended Rate for a Taxable Year, if the Corporate Taxpayer solely files Tax Returns in State 1 and State 2 in a Taxable Year, the maximum applicable corporate tax rates in effect in such states in such Taxable Year are 6% and 5%, respectively and the apportionment factors for such states in such Taxable Year are 60% and 40%, respectively, then the Blended Rate for such Taxable Year is equal to 5.6% (i.e., 6% times 60% plus 5% times 40%).

  • Base CD Rate means the sum of (a) the Three-Month Secondary CD Rate multiplied by the Statutory Reserve Rate plus (b) the Assessment Rate.

  • Basic Rate means the applicable basic minimum wage rate prevailing on the date 28 days prior to the latest date for submission of Tenders, by reason of any National or State Statute or Ordinance.

  • Undrawn Fee Rate For any VFN Class, the rate set forth or described in the related Indenture Supplement, if any. United States and U.S.: The United States of America.

  • Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and