Lender Advance Rate definition

Lender Advance Rate means as of any date of determination, the ratio (expressed as a percentage) obtained by dividing: (a) the sum of (i) the aggregate outstanding principal amount of all Loans as of such date plus (ii) the Portfolio Exposure Amount for all Collateral Loans as of such date by (b) the Principal Collateralization Amount.
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Lender Advance Rate means as of any date of determination, the ratio (expressed as a percentage) obtained by dividing: (a) the sum of (i) the aggregate outstanding principal amount of all Loans as of such date plus (ii) the Portfolio Exposure Amount for all Collateral Loans as of such date by (b) the sum of (i) the lower of (A) the par value of the Collateral Loans and (B) the Market Value of the Collateral Loans at the respective dates of acquisition thereof plus (ii) the aggregate amount of funds on deposit in the Collection Account, including Eligible Investments, constituting Principal Proceeds plus (iii) the aggregate amount of funds on deposit in the Future Funding Reserve Account, constituting Principal Proceeds, including Eligible Investments; provided that solely for purposes of calculating the Lender Advance Rate, (1) the Market Value of any Collateral Loan that is subject to an event of default as a result of the related Obligor’s failure to pay interest or principal and such failure is not cured within thirty (30) days following such failure shall be the lesser of (x) 50% of the par value of such Collateral Loan and (y) the Market Value of such Collateral Loan on the date of determination, and (2) the Market Value of a Collateral Loan subject to a Specified Change which requires Majority Lenders to consent in accordance with Section 5.19 and to which the Majority Lenders have not provided their written consent, shall be the greater of zero and the value assigned to such Collateral Loan by the Majority Lenders, in their sole discretion.
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Examples of Lender Advance Rate in a sentence

  • Following a Permitted Distribution resulting from a Permitted Securitization, the Total Term Commitment will permanently reduce to such amount needed to satisfy the Lender Advance Rate Test until such time the Initial Lender elects to increase the Total Term Commitment in its sole discretion.

Related to Lender Advance Rate

  • Applicable Advance Rate For each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale or participation required by Section 9.4 and the expected date of such sale or participation, the percentage specified below: Senior Secured Loans with a Market Value of: 90% or more of par 100 % 93 % 92 % 88 % Below 90% of par 100 % 80 % 73 % 60 % Other Collateral Obligations with a Xxxxx’x Rating of at least “B3” and a Market Value of 90% or more of par 100 % 89 % 85 % 75 % All other Collateral Obligations 100 % 75 % 65 % 45 %

  • Maximum Advance Rate means 80.0%.

  • Maximum Revolving Advance Amount means $25,000,000.

  • 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%.

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

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%.

  • Revolving Advance has the meaning given in Section 2.1.

  • Term Loan 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.

  • 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.

  • 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.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Revolving Loan Maturity Date means the earliest to occur of (i) the Maturity Date and (ii) the date on which the Revolving Loans become due and payable in accordance with Section 10.02.

  • Swingline Rate means, for any Interest Period, the rate as offered by the Administrative Agent and accepted by the Borrower. The Borrower is under no obligation to accept this rate and the Administrative Agent is under no obligation to provide it.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • 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.

  • Credit Card Advance Rate means 90%.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).