Lender Advance Rate Test definition

Lender Advance Rate Test means a test satisfied on any Borrowing Date or at any other time specifically required in this Agreement if the Lender Advance Rate at such time is less than or equal 55.0%.
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Examples of Lender Advance Rate Test 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 Test

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

  • 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.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Term Loan Maturity Date means the Initial Maturity Date, or, if such date has been extended pursuant to Section 2.15, such later date to which the Term Loan Maturity Date has been extended pursuant to Section 2.15.