OLV Percentage definition
OLV Percentage means, for a measurement period, the percentage obtained by dividing (i) the value of Eligible Inventory based on the orderly liquidation value as determined by the most recent periodic inventory appraisal satisfactory to Bank by (ii) the value of such Eligible Inventory on Borrower’s Books for such measurement period.
OLV Percentage means the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the amount of the recovery in respect of the Inventory at such time on a liquidation basis as set forth in the most recent acceptable appraisal of Inventory received by Lender in accordance with Section 7.3, and (b) the denominator of which is the original cost of the aggregate amount of the Inventory subject to such appraisal.
OLV Percentage means 80% as of any date of determination occurring during any period from May 1 through September 30, inclusive, of any year, and 90% as of any other date of determination.
More Definitions of OLV Percentage
OLV Percentage means, for any Inventory Category on any date, the orderly liquidation value net of liquidation costs of Inventory in such Inventory Category, expressed as a percentage of the book value of Inventory in such Inventory Category, as such percentage shall have been determined by the most recent Inventory Appraisal delivered on or prior to such date.
OLV Percentage means, at any time, the quotient (expressed as a percentage) of the OLV Value determined by the most recent OLV Appraisal divided by the value (determined in accordance with the definition of Eligible Inventory) of the Eligible Inventory appraised by such OLV Appraisal.