NOLV Factor means, as of the date of the appraisal of Inventory most recently received by Agent, the quotient of the Net Orderly Liquidation Value of Inventory divided by the book value of Inventory, expressed as a percentage. The NOLV Factor will be increased or reduced promptly upon receipt by Agent of each updated appraisal.
NOLV Factor means the quotient, expressed as a percentage, of (a) the Net Orderly Liquidation Value of Eligible Inventory divided by (b) the book value of Eligible Inventory, which will be adjusted monthly or at such other times as Lender shall determine in its Permitted Discretion.
NOLV Factor means the quotient, expressed as a percentage, of (a) the Net Orderly Liquidation Value of Eligible Inventory divided by (b) the book value of Eligible Inventory, which will be adjusted monthly or at such other times as Lender shall determine in its discretion.
Examples of NOLV Factor in a sentence
Each of the Credit Parties agrees that neither Agent nor any Secured Party shall have any liability for relying on the calculation of the SCP Inventory Sale Reserve, as set forth in a SCP Inventory Sale Reserve Correction Notice, or on the NOLV Factor under the Revolving Borrowing Base, as set forth in or a SCP Appraisal, in each case as delivered by SCP Agent to Agent.
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NOLV Factor - on any date, a fraction, the numerator of which is the Net Orderly Liquidation Value of Inventory on such date and the denominator of which is the Value of Inventory on such date.
More Definitions of NOLV Factor
NOLV Factor means at any time (a) with respect to Inventory, the quotient of the Net Orderly Liquidation Value of Inventory divided by the book value of Inventory, (b) with respect to PL Credit Card Receivables of the Borrowers that arise in the Ordinary Course of Business from Private Label Credit Cards, the quotient of the Net Orderly Liquidation Value of such PL Credit Card Receivables divided by the book value of such PL Credit Card Receivables, in each case, expressed as a percentage and (c) with respect to In-Transit Inventory, the quotient of the Net Orderly Liquidation Value of In-Transit Inventory divided by the book value of In-Transit Inventory, in each case, as reflected on the most recent appraisal received by Agent; provided that with respect to Inventory and In-Transit Inventory in order to more accurately reflect the dates when a sale of such Inventory and/or In-Transit Inventory might take place, the Agent may, in the Agent’s Permitted Discretion, (i) calculate the NOLV Factor based upon the Net Orderly Liquidation Value of Inventory and/or In-Transit Inventory for the periods occurring after the date on which the Borrowing Base is being calculated or (ii) impose Reserves to reflect the likely future sale date of such Inventory and/or In-Transit Inventory. The NOLV Factor will be increased or reduced promptly upon receipt by Agent of each updated appraisal.
NOLV Factor has the meaning given to such term in the Revolving Credit Agreement as in effect on the Closing Date.
NOLV Factor means at any time (a) with respect to Inventory, the quotient of the Net Orderly Liquidation Value of Inventory divided by the book value of Inventory, (b) with respect to PL Credit Card Receivables of the Borrowers that arise in the Ordinary Course of Business from Private Label Credit Cards, the quotient of the Net Orderly Liquidation Value of such PL Credit Card Receivables divided by the book value of such PL Credit Card Receivables, in each case, expressed as a percentage; and (c) with respect to Supplemental Inventory, the quotient of the Net Orderly Liquidation Value of Supplemental Inventory divided by the book value of Supplemental Inventory, in each case, as reflected on the most recent appraisal received by Agent provided that with respect to Supplemental Inventory and Inventory, in order to more accurately reflect the dates when a sale of such Supplemental Inventory and/or Inventory might take place, the Agent may, in the Agent’s Permitted Discretion, (i) calculate the NOLV Factor based upon the Net Orderly Liquidation Value of Inventory and/or Supplemental Inventory for the periods occurring after the date on which the Borrowing Base is being calculated or (ii) impose reserves to reflect the likely future sale date of such Supplemental Inventory and/or Inventory. The NOLV Factor will be increased or reduced promptly upon receipt by Agent of each updated appraisal.
NOLV Factor means the quotient, expressed as a percentage, of (a) the Net Orderly Liquidation Value of Eligible Inventory divided by (b) the book value of Eligible Inventory, which will be adjusted monthly or at such other times as Lender shall determine in its discretion. “Non-Paying Guarantor” has the meaning set forth in Section 8.10. “Non-U.S. Recipient” has the meaning set forth in Section 9.1(e)(ii). “Notice of Borrowing” has the meaning set forth in Section 1.4. “Obligations” means all present and future Loans, advances, debts, liabilities, fees, expenses, obligations, guaranties, covenants, duties and indebtedness at any time owing by any Borrower or any Loan Party to Lender, whether evidenced by this Agreement, any other Loan Document or otherwise whether arising from an extension of credit, opening of a Letter of Credit, guaranty, indemnification or otherwise, whether direct or indirect (including those acquired by assignment and any participation by Xxxxxx in Borrowers’ indebtedness owing to others), whether absolute or contingent, whether due or to become due, and whether arising before or after the commencement of a proceeding under the Bankruptcy Code or any similar statute. “Organic Documents” means, with respect to any Person, the certificate of incorporation, articles of incorporation, certificate of formation, certificate of limited partnership, by- laws, operating agreement, limited liability company agreement, limited partnership agreement or other similar governance document of such Person.
NOLV Factor means the quotient, expressed as a percentage, of (a) the Net Orderly Liquidation Value of Eligible Inventory, Eligible In- Transit Inventory or Eligible Slow Moving Inventory, as applicable, divided by (b) the book value of Eligible Inventory, Eligible In-Transit Inventory or Eligible Slow Moving Inventory, as applicable, which will be adjusted monthly or at such other times as Agent shall determine in its discretion.
NOLV Factor means, at any time, (a) with respect to Finished Goods Inventory, the quotient of the Net Orderly Liquidation Value of Finished Goods Inventory divided by the book value (valued at the lower of cost or market on a first-in, first-out basis) of Finished Goods Inventory, (b) with respect to Raw Materials Inventory, the quotient of the Net Orderly Liquidation Value of Raw Materials Inventory divided by the book value (valued at the lower of cost or market on a first-in, first-out basis) of Raw Materials Inventory, (c) with respect to Work-in-Process Inventory, the quotient of the Net Orderly Liquidation Value of Work-in-Process Inventory divided by the book value (valued at the lower of cost or market on a first-in, first-out basis) of Work-in-Process Inventory, (d) with respect to In-Transit Inventory, the quotient of the Net Orderly Liquidation Value of In-Transit Inventory divided by the book value (valued at the lower of cost or market on a first-in, first-out basis) of In-Transit Inventory, in each case, expressed as a percentage; provided that in order to more accurately reflect the dates when a sale of any such Inventory might take place, Agent may, in Agent's Permitted Discretion, (i) calculate the NOLV Factor based upon the Net Orderly Liquidation Value of such Inventory for the periods occurring after the date on which the Borrowing Base is being calculated or (ii) impose Reserves to reflect the likely future sale date of such Inventory. The NOLV Factor will be increased or reduced promptly upon receipt by Agent of each updated appraisal. It is acknowledged that each business unit of the Company may have a different NOLV Factor for its respective Finished Goods Inventory, Raw Materials Inventory, Work-in-Process Inventory and In-Transit Inventory.