Orderly Liquidation Percentage means, with respect to Inventory or Export-Related Inventory of any Loan Party, (a) the Dollar Equivalent of the net recovery value of such Inventory or Export-Related Inventory, as applicable, divided by (b) the gross value of such Inventory or Export-Related Inventory, as applicable, determined as of the date of most recent appraisal conducted in accordance with customary asset based lending standards pursuant to Section 5.11, by an appraiser acceptable to the Administrative Agent, net of all costs of liquidation thereof.
Orderly Liquidation Percentage means, with respect to Inventory of any Person, (a) the net recovery dollars of such Inventory divided by (b) the gross value of such Inventory, determined in a manner acceptable to the Agent by an appraiser acceptable to the Agent, net of all costs of liquidation thereof. As of the Effective Date, the Orderly Liquidation Percentage will be determined as set forth in Exhibit J, and such percentage will thereafter be computed in a manner reasonably consistent with the methodology set forth on Exhibit J.
Orderly Liquidation Percentage means, with respect to Inventory of the Borrower at any time, the ratio (expressed as a percentage) computed by dividing (i) the net recovery value of the Inventory of the Borrower (which in any event shall give effect to all costs and expenses of liquidation) as set forth in the Inventory Appraisal most recently delivered pursuant to Section 15.19, as updated pursuant to such Section by (ii) the cost (calculated in accordance with the Borrower's historical practices) of the Inventory of the Borrower as set forth in the corresponding Inventory Appraisal (or update thereof).
Examples of Orderly Liquidation Percentage in a sentence
In addition to the foregoing, Agent shall have the right to have the Inventory reappraised by a qualified appraisal company selected by Agent from time to time after the Closing Date for the purpose of redetermining the Net Orderly Liquidation Percentage and, as a result, redetermining the Borrowing Base.
The foregoing notwithstanding, upon the request of Borrower, on its own behalf and on behalf of each other Co-Borrower, the Net Orderly Liquidation Percentage may, with the unanimous consent of Lenders, be increased to ninety-five percent (95%) for the period from December 31, 2005 through March 31, 2006.
In addition to the foregoing, Agent shall have the right to have the Inventory reappraised by an appraisal company selected by Agent from time to time after the Closing Date for the purpose of redetermining the Net Orderly Liquidation Percentage and, as a result, redetermining the Borrowing Base.
More Definitions of Orderly Liquidation Percentage
Orderly Liquidation Percentage means, with respect to Inventory of a Borrower or Foamex Canada at any time, the ratio (expressed as a percentage) computed by dividing (i)(x) if such percentage is being determined on the Closing Date or on any date prior to the first delivery of an Inventory Appraisal pursuant to Section 5.2(o), the net recovery value of the Inventory of such Borrower or Foamex Canada, as the case may be (which in any event shall give effect to all costs and expenses of liquidation) as set forth in the Inventory Appraisal delivered to the Administrative Agent prior to the Closing Date and (y) if such percentage is being determined on or after the date of the first delivery of an Inventory Appraisal pursuant to Section 5.2(o), the net recovery value of the Inventory of such Borrower or Foamex Canada, as the case may be (which in any event shall give effect to all costs and expenses of liquidation) as set forth in the Inventory Appraisal most recently delivered pursuant to Section 5.2(o) by (ii) the value of the Inventory of such Borrower or Foamex Canada, as the case may be, as set forth in the corresponding Inventory Appraisal.
Orderly Liquidation Percentage means the orderly liquidation value on an as-is-where-is basis (net of costs and expenses incurred in connection with liquidation) of inventory as a percentage of the cost of such Inventory, which percentage shall be determined by reference to the most recent third-party Appraisal of such Inventory received by the Administrative Agent.
Orderly Liquidation Percentage means, with respect to Inventory of a Borrower at any time, the ratio (expressed as a percentage) computed by dividing (i) (x) if such percentage is being determined on the Closing Date or on any date prior to the first delivery of an Appraisal required pursuant to Section 5.2(o), the estimated orderly liquidation value of the Inventory of such Borrower as set forth in the Appraisal delivered to the Administrative Agent prior to the Closing Date and (y) if such percentage is being determined on or after the date of the first delivery of an Appraisal required pursuant to Section 5.2(o), the estimated orderly liquidation value of the Inventory of such Borrower as set forth in the Appraisal most recently delivered pursuant to Section 5.2(o), as updated pursuant to such Section by (ii) the value of the Inventory of such Borrower valued at cost as set forth in the corresponding Appraisal (or update thereof).
Orderly Liquidation Percentage means, with respect to Inventory or Export-Related Inventory of any Loan Party, (a) the Dollar Equivalent of the net recovery value of such Inventory or Export-Related Inventory, as applicable, divided by (b) the gross value of such Inventory or Export-Related Inventory, as applicable, determined as of the date of most recent appraisal conducted in accordance with customary asset based lending standards pursuant to Section 5.11, by an appraiser acceptable to the Administrative Agent, net of all costs of liquidation thereof. “Original Canadian Revolving Loans” means the Canadian Revolving Loans advanced to the Canadian Borrower under the Original Credit Agreement. “Original Closing Date” means March 8, 2010. “Original Credit Agreement” means the certain Third Amended and Restated Credit Agreement dated as of the Original Closing Date among the Company, certain of the other Loan Parties, certain of the Lenders and JPMorgan Chase Bank, N.A., as Agent and LC Issuer, as amended or modified through the Effective Date.
Orderly Liquidation Percentage means, with respect to Inventory of a Borrower at any time, the ratio (expressed as a percentage) computed by dividing (i) (x) if such percentage is being determined on the Closing Date or on any date prior to the first delivery of an Inventory Appraisal of such Borrower's Inventory required pursuant to Section 14.19, the net recovery value of the Inventory of such Borrower (which in any event shall give effect to all costs and expenses of liquidation), as set forth in the Inventory Appraisal of such Borrower's Inventory delivered to the Agent prior to the Closing Date and (y) if such percentage is being determined on or after the date of the first delivery of an Inventory Appraisal of such Borrower's Inventory required pursuant to Section 14.19, the net recovery value of the Inventory of such Borrower (which in any event shall give effect to all costs and expenses of liquidation), as set forth in the Inventory Appraisal of such Borrower's Inventory most recently delivered to the Agent pursuant to Section 14.19 by (ii) the value of the Inventory of such Borrower, valued at cost, as set forth in the corresponding Inventory Appraisal.
Orderly Liquidation Percentage means, with respect to Inventory of a Borrower or Xxxxx Xxxxx Canada at any time, the ratio (expressed as a percentage) computed by dividing (i) the net recovery value of the Inventory of such Borrower or Xxxxx Xxxxx Canada, as the case maybe (which in any event shall give effect to all costs and expenses of liquidation) as set forth in the Inventory Appraisal most recently delivered pursuant to Section 16.20, as updated pursuant to such Section by (ii) the value (at the lower of cost (on a first- in, first-out basis) or market) of the Inventory of such Borrower as set forth in the corresponding Inventory Appraisal (or update thereof).