M&E Component means, at the time of any determination, an amount equal to the lesser of (a) $75,000,000 multiplied by the M&E Amortization Factor at such time and (b) an amount equal to (i) 85% of the Net Orderly Liquidation Value of the Loan Parties’ Eligible Equipment multiplied by (ii) the M&E Amortization Factor at such time. It is hereby understood and agreed that any appraisal of Equipment conducted after the Effective Date shall result in the M&E Component being revalued at the lower of (i) the M&E Component immediately prior to (and without giving effect to) such appraisal and (ii) the M&E Component calculated after giving effect to such appraisal (and, in any event, such appraisal shall not result in an increase in the value of the M&E Component).
M&E Component means, at the time of any determination, an amount allocable to the machinery and equipment of the Borrower and the Guarantors, which amount shall be equal to not less than $200,000,000, subject to adjustment: (i) from time to time upon receipt of periodic valuation updates received from the Agent's internal or third party asset valuation experts; or (ii) concurrent with the sale or commitment to sell any assets constituting part of the M&E Component.
M&E Component means the lesser of (a) $8,600,000 and (b) 80.0% of the NOLV of Eligible M&E (net of Reserves with respect to M&E not already reflected in the determination of the NOLV); provided, that the amount in clause (a) shall be reduced (i) by an amount equal to $250,000 on each of July 31, 2014, October 31, 2014, January 31, 2015, and April 30, 2015 and (ii) by an amount equal to $312,500 on July 31, 2015 and on the last day of each October, January, April and July thereafter (each such decrease in amount, an “M&E Depreciation Amount”).
Examples of M&E Component in a sentence
The Agent shall have been named as loss payee with respect to the M&E Component and additional insured (as its interests appear), on such policies of insurance of the Borrower and Guarantors as the Agent may have reasonably requested.
The department has also been allocated more wage to cater for the recruitment of the Senior Planner In addition, Planning Unit will receive Shs 10,304,000 under the District Discretionary Development Equalization Grant basically the M&E Component, Retooling and Investment Servicing Costs.
Major accomplishments under the MPA monitoring of the M&E Component for the 4th Quarter 2001 include: • Data from monitoring was updated and are summarized in Appendix A.
Notwithstanding the foregoing or anything herein to the contrary, by written notice to the Administrative Agent, the Borrower shall be entitled to remove the M&E Component from the Borrowing Base so long as, on a pro forma basis after giving effect to such removal, Availability equals or exceeds 20% of the Aggregate Commitments.
Such Grantor shall promptly inform the Administrative Agent of any additions to or deletions from Equipment included in the calculation of the M&E Component which individually or in the aggregate exceed $1,000,000.
More Definitions of M&E Component
M&E Component means, at the time of any determination, an amount equal to (a) prior to the Secured Alternative Financing Effective Date, the lesser of (i) $100,000,000 multiplied by the M&E Amortization Factor at such time and (ii) an amount equal to (x) 85% of the Net Orderly Liquidation Value of the Loan Parties’ Eligible Equipment multiplied by (y) the M&E Amortization Factor at such time and
M&E Component means an amount equal to the sum of (i) the least of (A) $20,000,000, (B) 80% of the Net Orderly Liquidation Value of the Eligible Equipment of the Loan Parties, and (C) 60% of the Net Book Value of the Eligible Equipment of the Loan Parties and (ii) from January 28th through July 31st of each year, $10,000,000.
M&E Component means, at the time of any determination, an amount equal to (a) prior to the Secured Alternative Financing Effective Date, the lesser of (i) $100,000,000 multiplied by the M&E Amortization Factor at such time and (ii) an amount equal to (x) 85% of the Net Orderly Liquidation Value of the Loan Parties’ Eligible Equipment multiplied by (y) the M&E Amortization Factor at such time and (b) on and after the Secured Alternative Financing Effective Date, $0.
M&E Component set forth in Section 1.01 of the Credit Agreement is hereby amended and restated to read as follows:
M&E Component means, at the time of any determination, an amount equal to (a) prior to the effectiveness of any Secured Alternative Financing that is secured by a first priority security interest in Equipment, the lesser of (i) $100,000,000 multiplied by the M&E Amortization Factor at such time and (ii) an amount equal to (x) 85% of the Net Orderly Liquidation Value of the Loan Parties’ Eligible Equipment multiplied by (y) the M&E Amortization Factor at such time and (b) on and after the effectiveness of any Secured Alternative Financing that is secured by a first priority security interest in Equipment, $0.
M&E Component means, at the time of any determination, (a) prior to the M&E Inclusion Date, an amount equal to zero ($0) and(b) on or after the M&E Inclusion Date, an amount equal to the lesser of (x) the result of (i) 85% of the Net Orderly Liquidation Value of the Borrowers' Eligible Equipment minus (ii) the sum of (1) Reserves established by the Administrative Agent in its Permitted Discretion and(2) the aggregate amount of M&E Amortization attributable to Eligible Equipment included in the determination of clause (x)(i) and (y) 7,500,000.
M&E Component means (a) until such time as the Administrative Agent shall have received an initial appraisal of the Borrowers’ Eligible Equipment from an appraiser reasonably satisfactory to the Administrative Agent, $0, and (b) from and after the Administrative Agent’s receipt of an initial appraisal of the Borrowers’ Eligible Equipment from an appraiser satisfactory to the Administrative Agent, an amount equal to the lesser of (i) $15,000,000 and (ii) an amount determined from time to time by the Administrative Agent in its Permitted Discretion (it being understood that the Administrative Agent may from time to time, in its Permitted Discretion, adjust the amount of the M&E Component upon receipt of subsequent appraisals of the Borrowers’ Eligible Equipment).”