Loan Advance Rate definition

Loan Advance Rate means 65% for Eligible First Lien Loans, 55% for Eligible Bifurcated First Lien Loans and 50% for Eligible First Lien Last Out Loans.
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Loan Advance Rate means, with respect to any Debt Obligation on any date of determination, (a) if such Debt Obligation is a Specified Debt Obligation on the date of purchase or other acquisition thereof by the Borrower, 70% and (b) otherwise, a percentage specified by the Administrative Agent to the Borrower with respect to such Debt Obligation on or prior to the date on which such Debt Obligation is purchased or otherwise acquired (including pursuant to Section 5.2(b)) by the Borrower; provided that (i) subject to the following clauses, if such Debt Obligation is an Excess Concentration Obligation, then the “Loan Advance Rate” with respect to the Excess Concentration Percentage of such Debt Obligation will be 65%; (ii) subject to the following clause (iii), if a Debt Obligation ceases to be a Specified Debt Obligation or ceases to satisfy the Obligation Criteria, then the “Loan Advance Rate” with respect to such Debt Obligation will be determined from time to time in the sole discretion of the Administrative Agent as specified to the Borrower (but in any event not later than 10 Business Days after the Borrower gives notice of such event to the Administrative Agent); (iii) if a Debt Obligation Bankruptcy Event or Debt Obligation Failure to Pay Event occurs with respect to such Debt Obligation, then, so long as such event is continuing, the “Loan Advance Rate” with respect to such Debt Obligation will be determined from time to time in the sole discretion of the Administrative Agent as specified to the Borrower; and (iv) the Borrower may by notice to the Administrative Agent request that a Debt Obligation that satisfies clause (vi) of the definition of Specified Debt Obligation after the date of purchase or other acquisition by the Borrower shall be treated as a Specified Debt Obligation under clause (a) above.
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Loan Advance Rate means, for any Payment Date, with respect to each Loan included in the Collateral as of the related Reference Date, the Loan Advance Rate set forth below opposite the Loan Category assigned to such Loan by the Servicer as of such Reference Date: Loan Category Loan Advance Rate L-1 Loans 72.5 % L-2 Loans 67.5 % L-3 Loans 62.5 % T-1 Loans 57.5 % T-2 Loans 52.5 % T-3 Loans 47.5 %
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Examples of Loan Advance Rate in a sentence

  • The portion of a First Lien Loan with a Senior Net Leverage Ratio of up to 5.00x shall be assigned the First Lien Loan Advance Rate (as applicable pursuant to the above chart) and the portion above 5.00x shall be assigned an Advance Rate of 45%.

  • The amount of the Advance requested in the Advance Request shall not exceed: (I) with respect to any Advance, the Development Loan Advance Rate multiplied by the Eligible Costs of the specific Development Assets, as set forth in the Budget to which the Advance Request relates, or (II) together with all prior Advances previously made by Lender to Borrower under the applicable Development Loan, the then applicable Development Loan Amount.

  • With respect to each Contributed Swingline Loan, Seller shall pay to Purchaser an amount sufficient to cause the Swingline Advance Amount of such Eligible Swingline Loan to be equal to the related Swingline Loan Advance Rate.

  • Committed First Mortgage Loan Advance Rate: 98% of the lesser of (i) ------------------------------------------ the Mortgage Note Amount or (ii) the Committed Purchase Price.

  • With respect to CapEx Loan Advances, (A) each individual CapEx Loan advance may not exceed an amount equal to the CapEx Loan Advance Rate multiplied by the amount of the Qualified Capital Expenditures to be paid with the proceeds of such CapEx Loan advance, (B) until the Conversion Date, the CapEx Loans shall be Base Rate Loans and (C) all CapEx Loan advances in the aggregate may not exceed the CapEx Loan Commitment.


More Definitions of Loan Advance Rate

Loan Advance Rate means, with respect to any Debt Obligation on any date of determination, (a) if such Debt Obligation is a Specified Debt Obligation on such date of determination, 75%, (b) if such Debt Obligation is an Unquoted Debt Obligation on such date of determination, 60% and (c) if such Debt Obligation is neither a Specified Debt Obligation nor an Unquoted Debt Obligation on such date of determination, a percentage specified by the Administrative Agent to the Borrower with respect to such Debt Obligation determined from time to time in the sole discretion of the Administrative Agent as specified to the Borrower (including pursuant to Section 5.2(b)) by the Borrower; provided that:
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Loan Advance Rate means, with respect to any Debt Obligation on any date of determination, a percentage specified by the Administrative Agent to the Borrower with respect to such Debt Obligation on or prior to the date on which such Debt Obligation is purchased or otherwise acquired (including pursuant to Section 5.2(b)(ii)) by the Borrower; provided that (i) subject to the following clauses, if such Debt Obligation is an Excess Concentration Obligation, then the “Loan Advance Rate” with respect to the Excess Concentration Percentage of such Debt Obligation will be 0%; (ii) subject to the following clause (iii), if a Debt Obligation ceases to satisfy the Obligation Criteria or ceases to be a Specified Debt Obligation pursuant to the proviso at the end of the definition thereof, then the “Loan Advance Rate” with respect to such Debt Obligation will be determined from time to time in the sole discretion of the Administrative Agent as specified to the Borrower (but in any event not later than 10 Business Days after the Borrower gives notice of such event to the Administrative Agent); and (iii) if a Debt Obligation Bankruptcy Event or Debt Obligation Failure to Pay Event occurs with respect to such Debt Obligation, then, so long as such event is continuing, the “Loan Advance Rate” with respect to such Debt Obligation will be determined from time to time in the sole discretion of the Administrative Agent as specified to the Borrower.
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Loan Advance Rate. With respect to any Loan, the advance rate applicable under ----------------- the related Loan Documents.
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Related to Loan Advance Rate

  • Maximum Advance Rate means 80.0%.

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

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

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

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

  • 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.

  • 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%.

  • 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%.

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

  • Credit Card Advance Rate means 90%.

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

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

  • Loan Interest Rate means, as to any Loan, the annual rate of interest specified in the Loan.

  • 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.

  • 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.

  • 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.

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

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

  • Revolving Advance has the meaning given in Section 2.1.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

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

  • Swingline Rate means the Base Rate plus the Applicable Margin applicable to Base Rate Loans.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.