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

  • Maximum Advance Rate means 80.0%.

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

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

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.

  • Revolving Loan Maturity Date means March 20, 2010, unless extended by the Bank pursuant to any modification, extension or renewal note executed by the Borrower and accepted by the Bank in its sole and absolute discretion in substitution for the Revolving Note.

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

  • Alternate Base Rate Advance means an Advance which bears interest at the Alternate Base Rate.

  • Maximum Advance Amount in respect of each Advance Notice means the greater of: (i) an amount equal to 100% of the average Daily Traded Amount during the five Trading Day immediately preceding an Advance Notice, or (ii) 5,000,000 Common Shares.

  • 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.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Term Loan Maturity Date means July 15, 2023.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).