Loan Formula definition

Loan Formula is substituted in lieu thereof:
Sample 1Sample 2Sample 3
Loan Formula means at any time the amount equal to the then current sum of (i) 80% of the Eligible Accounts of the Company directed to the Account, plus (ii) an amount equal to the lesser of (a) 40% of the Eligible Government Receivables of the Company directed to the Account, or (b) $200,000."
Sample 1
Loan Formula means, as of any time that the same is to be ------------- determined, the aggregate book value of the Eligible Accounts. "Eligible --------- Accounts" shall mean (A) eighty percent (80%) of all accounts receivable of the --------- Borrower, as classified in a manner consistent with documents filed by the Borrower with the United States Securities and Exchange Commission, which are by their terms payable within thirty (30) days after the billing for performance of services or the shipment of goods and which are not more than sixty (60) days past due; and (B) fifty percent (50%) of all amounts fully earned by GRC and SWL for the performance of services which are classified by the Borrower as unbilled receivables ("Unbilled Receivables"); provided, however, that no more than -------------------- $2,500,000 in Unbilled Receivables shall be includable in the Borrowing Base for purposes of Section 1.3 hereof. With respect to any joint venture which is an Affiliate, Eligible Accounts shall also include eighty percent (80%) of the accounts receivable of such joint venture which (1) are distributable by such joint venture to any the Borrower when collected, (2) have been duly billed to the account debtor and (3) by their terms are payable within thirty (30) days after the billing for performance of services or the shipment of goods and which are not more than sixty (60) days past due; provided, however, that the accounts receivable of a particular joint venture shall not be eligible as provided herein unless (a) the Borrower owns an interest in income and profits of at least 51% in the aggregate of such joint venture and also controls its management, and (b) such accounts receivable have not been pledged or assigned to any other Person or Eligible Accounts shall not include (w) amounts owed by an account debtor of the Borrower or any joint venture (as provided above) who is
Sample 1

Examples of Loan Formula in a sentence

  • The undersigned hereby certifies that as of the date hereof and as of the Borrowing Date, prior to and after giving effect to the Loan requested hereby, the aggregate principal amount of the Loans outstanding to the Borrower does not exceed the Loan Formula, per the terms of Section 4(a) of the Agreement.

  • Xxxxx and Xxxxxxx Xxxxxx, (together, the “Authorized Individuals”), each acting singly, are authorized to act on behalf of the Borrower to execute and deliver any Borrowing Notice (in the form of Exhibit A attached hereto), any Loan Formula Calculation (in the form of Exhibit C attached hereto) and Form of Fee Cap Notification (in the form of Exhibit D attached hereto).

  • In the event that the aggregate principal amount of Loans outstanding at any time exceeds the Loan Formula set forth above, the Borrower agrees that it shall immediately upon demand pay over the amount of the excess to the Bank as and for a mandatory prepayment on such Loans.

  • Concurrently with any Loan request, and, so long as any Loans remain outstanding, within 30 days after the last day of each quarter, the Borrower shall furnish to the Bank a Form of Loan Formula Calculation, in the form of Exhibit C attached hereto, (the “Loan Formula Calculation”), signed by its Investment Adviser.

  • Line 7 Accounts Receivable Loan Formula: The amount of net eligible accounts receivable times the loan formula advance rate.

  • As a condition to the closing of this Agreement, Borrowers will jointly and severally pay and apply to the Pool One Note being refinanced by the Holiday Inn Express Pool One Term Loan the sum of not less than $1,125,000.00 and to the Pool One Note being refinanced by the Staybridge Suites Pool One Term Loan the sum of not less than $350,000.00 in order to bring such Pool One Term Loans within the Pool One Loan Formula for such Pool One Term Loans.

  • This amount represents the combination of the Accounts Receivable Loan Formula plus $7,500,000.

  • Term Loan Formula Amount: as of any date of determination, the amount that is equal to the lesser of (i) $225,832,500, and (ii) the sum of (a) 75% of the appraised “as-is” fair market value of the Borrowers’ owned Real Estate, plus (b) 100% of the appraised NOLV of Borrowers’ owned Equipment, minus (c) applicable Availability Reserves relating to Collateral of Borrowers, described in clauses (f) and (g) of the definition thereof, in effect at such time.

  • The definition of “Eligible M&E” set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting the reference to “Term Loan Amount” in clause (i) of such definition and replacing it with “Term Loan Formula Amount”.

  • If, at any time, either Agent establishes or increases reserves against the Borrowing Base or the Term Loan Formula, such Agent will give Great Lakes fifteen (15) days advance written notice of such change, unless a Default or Event of Default then exists, in which case such Agent will give Great Lakes contemporaneous oral or written notice of such change.


More Definitions of Loan Formula

Loan Formula means at any time the amount equal to the then ------------ current sum of (i) 80% of the Eligible Accounts of the Company and IAC directed to the Account, plus (ii) an amount equal to the lesser of ---- (a) 40% of the Eligible Government Receivables of the Company and IAC directed to the Account, or (b) $200,000."
Sample 1

Related to Loan Formula

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Applicable Eurodollar Margin means, as at any date of determination, the rate per annum then applicable to Eurodollar Rate Loans determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Unscheduled Principal Receipt Period With respect to the Mortgage Loans serviced by each Servicer and each of Full Unscheduled Principal Receipts and Partial Unscheduled Principal Receipts, the Unscheduled Principal Receipt Period specified on Schedule I hereto, as amended from time to time by the Master Servicer pursuant to Section 10.01(b) hereof.

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Applicable ABR Margin means, at any date:

  • Non-PO Formula Principal Amount As to any Distribution Date, the sum of (i) the sum of the applicable Non-PO Percentage of (a) all monthly payments of principal due on each Mortgage Loan on the related Due Date, (b) the principal portion of the purchase price of each Mortgage Loan that was repurchased by the Seller pursuant to this Agreement as of such Distribution Date, excluding any Mortgage Loan that was repurchased due to a modification of the Mortgage Rate, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan received with respect to such Distribution Date, (d) any Insurance Proceeds or Liquidation Proceeds allocable to recoveries of principal of Mortgage Loans that are not yet Liquidated Mortgage Loans received during the calendar month preceding the month of such Distribution Date, (e) with respect to each Mortgage Loan that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, the amount of Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan, and (f) all partial and full Principal Prepayments received during the related Prepayment Period and (ii) (A) any Subsequent Recoveries received during the calendar month preceding the month of such Distribution Date, or (B) with respect to Subsequent Recoveries attributable to a Discount Mortgage Loan that incurred (1) an Excess Loss or (2) a Realized Loss after the Senior Credit Support Depletion Date, the Non-PO Percentage of any Subsequent Recoveries received during the calendar month preceding the month of such Distribution Date.

  • 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.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.835 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.940 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.045 % 1.045 % BBB by Standard & Poor’s Baa2 by Moody’s 0.150 % 1.150 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period:

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • PO Formula Principal Amount As to any Distribution Date, the sum of the applicable PO Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each Mortgage Loan on the related Due Date, (b) the Stated Principal Balance of each Mortgage Loan that was repurchased by the Seller or the Master Servicer pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan received with respect to such Distribution Date, (d) any Insurance Proceeds or Liquidation Proceeds allocable to recoveries of principal of Mortgage Loans that are not yet Liquidated Mortgage Loans received during the calendar month preceding the month of such Distribution Date, (e) with respect to each Mortgage Loan that became a Liquidated Mortgage Loan during the month preceding the calendar month of such Distribution Date, the amount of Liquidation Proceeds allocable to principal received during the month preceding the month of such Distribution Date with respect to such Mortgage Loan and (f) all Principal Prepayments received during the related Prepayment Period.

  • Loan Group II The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group II.

  • Loan Group Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.

  • Term Benchmark when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted Term SOFR Rate.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Alternative Benchmark Rate means an alternative benchmark or screen rate which is customarily applied in international debt capital markets transactions for the purposes of determining floating rates of interest (or the relevant component part thereof) in the Specified Currency, provided that all determinations will be made by the Independent Adviser in its reasonable discretion.

  • Maximum Yield Supplement Amount means with respect to any Collection Period and the related Deposit Date, after giving effect to the Yield Supplement Amount, the maximum amount required to be on deposit in the Yield Supplement Account on the immediately succeeding Payment Date, which is equal to the present value (using an interest rate of: 0.25%) of the sum of all Yield Supplement Amounts for all future Payment Dates, assuming that future Scheduled Payments on the Discount Receivables are made on the date on which they are scheduled as being due.

  • Group I Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group I Loans.

  • Incremental Term Loans has the meaning specified in Section 2.14(a).

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations: