Pledged Collateral Market Value definition

Pledged Collateral Market Value means the cumulative value of the following in each case owned by the Borrower and its Subsidiaries: (a) the Xxxxxx Common Units (as defined in Section 3.01 (g)(i) below), (b) the Xxxxxx Subordinated Units (as defined in Section 3.01 (g)(i) below) and (c) any assets acquired after the Closing Date in which a security interest has been granted to Lender and perfected, in each case, pursuant to the terms hereof. For purposes of this definition, the value of (i) the Xxxxxx Common Units on any date shall be the closing price for such Xxxxxx Common Units as reflected on the NASDAQ securities exchange on such date, (ii) the Xxxxxx Subordinated Units on any date shall be deemed to equal 85% of the value of the Xxxxxx Common Units on such date and (iii) the assets referred to in clause (c) above shall be the fair market value of such assets as reasonably valued by Lender and subject to third-party verification as deemed necessary by the Administrative Agent.
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Pledged Collateral Market Value means, at any date, the value on such date of the Common Units, the Senior Subordinated Units and the Junior Subordinated Units which have been pledged by the Credit Parties to the Bank and with respect to which the Bank has a perfected Lien (and, if such Lien is capable of being perfected by control under UCC §8-106(b)(1), with such Lien being so perfected), as security for the Obligations, subject to no other Liens. For purposes of the preceding sentence, (1) the value of Common Units on any date shall be the closing price for such Common Units as reflected on the NASDAQ securities exchange on such date, (2) the value of Senior Subordinated Units on any date shall be deemed to equal 90% of the value of the Common Units on such date, and (3) the value of the Junior Subordinated Units on any date shall be deemed to equal 85% of the value of the Common Units on such date.
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Pledged Collateral Market Value means, at any date, the value on such date of the Common Units and the Senior Subordinated Units which have been pledged by the Borrower, IPCH and/or NIP to the Bank and with respect to which the Bank has a perfected Lien (and, if such Lien is capable of being perfected by control under UCC §8-106(b)(1), with such Lien being perfected by such control), as security for the Obligations, subject to no other Liens. For purposes of the preceding sentence, the value of any investment property consisting of Common Units shall be the closing price for such Common Units as reflected on the NASDAQ securities exchange. Similarly, the value of Senior Subordinated Units on any date shall be deemed to equal 90% of the value of the Common Units on such date.
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Examples of Pledged Collateral Market Value in a sentence

  • Subject to the terms and conditions set forth herein, Lender agrees to make Advances on the Loan to the Borrower from time to time in an aggregate principal amount that will not result in (i) the principal balance due under the Loan exceeding fifty percent (50%) of the Pledged Collateral Market Value.

  • In no event shall the Bank be obligated to make the Term Loan if (1) any Default or Event of Default exists or would result from the making of the Term Loan, or (2) after giving effect to the disbursement of the Term Loan on or about the Closing Date, the outstanding principal balance of the Term Loan would exceed 80% of the Pledged Collateral Market Value on such date.

  • If, at any time, the outstanding principal balance of the Loans exceeds 85% of the Pledged Collateral Market Value, the Borrower shall, within 10 days thereafter, either (1) prepay the Loans in an amount sufficient to reduce the aggregate unpaid principal amount of the Loans by an amount equal to such excess, or (2) pledge additional Collateral to the Bank in an amount sufficient to increase the Pledged Collateral Market Value so as to be in compliance with the foregoing 85% loan-to-value requirement.

  • Subject to the terms and conditions set forth herein, each Lender agrees to make Loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Lender's Credit Exposure exceeding such Lender's Commitment, or (ii) the sum of the total Credit Exposures exceeding the lesser of (x) the total Commitments or (xx) fifty percent (50%) of the Pledged Collateral Market Value.

  • In no event shall the Bank be obligated to make the Term Loan if (1) any Default or Event of Default exists or would result from the making of the Term Loan; or (2) the aggregate amount of all Loans then outstanding exceeds, or would exceed if the Term Loan were to be made, 50% of the Pledged Collateral Market Value.

  • In no event shall the Bank be obligated to make an IPCH Revolving Credit Loan if (1) any Default or Event of Default exists or would result from the making of such Loan, or (2) on the Closing Date, the Pledged Collateral Market Value is less than $40,000,000, or (3) at any time after the Closing Date, the aggregate amount of all Loans then outstanding exceeds, or would exceed if such Loan were to be made, 80% of the Pledged Collateral Market Value.

  • In no event shall the Bank be obligated to make a Holdings Revolving Credit Loan if (1) any Default or Event of Default exists or would result from the making of such Loan, or (2) on the Closing Date, the Pledged Collateral Market Value is less than $40,000,000, or (3) at any time after the Closing Date, the aggregate amount of all Loans then outstanding exceeds, or would exceed if such Loan were to be made, 80% of the Pledged Collateral Market Value.


More Definitions of Pledged Collateral Market Value

Pledged Collateral Market Value means the cumulative value of the following in each case owned by the Borrower and its Subsidiaries: (a) the Xxxxxx Common Units, (b) the Xxxxxx Subordinated Units and (c) any assets acquired after the Closing Date in which a security interest has been granted to the Administrative Agent and perfected, in each case, pursuant to the terms hereof. For purposes of this definition, the value of (i) the Xxxxxx Common Units on any date shall be the closing price for such Xxxxxx Common Units as reflected on the NASDAQ securities exchange on such date, (ii) Xxxxxx Subordinated Units on any date shall be deemed to equal 85% of the value of the Xxxxxx Common Units on such date and (iii) the assets referred to in clause (c) above shall be the fair market value of such assets as reasonably valued by the Administrative Agent and subject to third-party verification as deemed necessary by the Administrative Agent.
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Pledged Collateral Market Value means for MLP Units, (i) if such MLP Units are publicly traded and quotations are available, the closing sale price of the MLP Units on the preceding Business Day or if there is no closing sale price, any reasonable estimate of the market value of the MLP Units as of the close of business on the preceding Business Day based on the most recent trade price for such MLP Units and (ii) if such MLP Units are not publicly traded and quotations are not available (such as subordinated MLP Units or unregistered MLP Units) such MLP Units will be valued at 85% of the current market value of similar publicly traded MLP Units). Pro Rata Share with respect to each Lender, at any time, a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of Term Loans of such Lender at such time and the denominator of which is the amount of Aggregate Term Loans at such time. The initial Pro Rata Share of each Lender is set out opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.
Sample 1
Pledged Collateral Market Value means for MLP Units, (i) if such MLP Units are publicly traded and quotations are available, the closing sale price of the MLP Units on the preceding Business Day or if there is no closing sale price, any reasonable estimate of the market value of the MLP Units as of the close of business on the preceding Business Day based on the most recent trade price for such MLP Units and (ii) if such MLP Units are not publicly traded and quotations are not available (such as subordinated MLP Units or unregistered MLP Units) such MLP Units will be valued at 85% of the current market value of similar publicly traded MLP Units).
Sample 1
Pledged Collateral Market Value means, at any date, the value on such date of the Common Units and the Senior Subordinated Units which have been pledged by the Credit Parties to the Bank and with respect to which the Bank has a perfected Lien (and, if such Lien is capable of being perfected by control under UCC §8-106(b)(1), with such Lien being so perfected), as security for the Obligations, subject to no other Liens. For purposes of the preceding sentence, the value of Common Units on any date shall be the closing price for such Common Units as reflected on the NASDAQ securities exchange on such date. Similarly, the value of Senior Subordinated Units on any date shall be deemed to equal 90% of the value of the Common Units on such date.
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Related to Pledged Collateral Market Value

  • Pledged Collateral has the meaning assigned to such term in Section 2.01.

  • Additional Pledged Collateral means all shares of, limited and/or general partnership interests in, and limited liability company interests in, and all securities convertible into, and warrants, options and other rights to purchase or otherwise acquire, stock of, either (i) any Person that, after the date of this Agreement, as a result of any occurrence, becomes a direct Subsidiary of any Grantor or (ii) any issuer of Pledged Stock, any Partnership or any LLC that are acquired by any Grantor after the date hereof; all certificates or other instruments representing any of the foregoing; all Security Entitlements of any Grantor in respect of any of the foregoing; all additional indebtedness from time to time owed to any Grantor by any obligor on the Pledged Notes and the instruments evidencing such indebtedness; and all interest, cash, instruments and other property or Proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing, provided, that, in no event shall Additional Collateral include any Excluded Equity. Additional Pledged Collateral may be General Intangibles or Investment Property.

  • Foreign market vehicle means any motor vehicle originally manufactured outside the United States,

  • Original Collateral Sale Price means JPY 6,399,647,993. Notwithstanding anything to the contrary in the Collateral Sale Agreement, the consideration for the Initial Charged Assets is the Issue Price of the Notes plus the entry into the Swap Agreement by the Issuer.

  • Initial Market Value means, in relation to a Ship, the Market Value of that Ship calculated in accordance with the valuations relative thereto referred to in paragraph 5 of Schedule 4, Part B;

  • Excluded Collateral shall have the meaning assigned to such term in the Security Agreement.

  • Applicable Market Value has the meaning specified in Section 5.1.

  • Open Market Value means, in relation to a supply of goods or services, or to goods that are imported, the amount (together with the GST chargeable on the supply or the importation) that would be payable for the supply or the goods if the supply or importation were for such a consideration in money as would be payable, for the supply or the importation, by a person standing in no such relationship with any person as would affect that consideration;

  • Current Market Value per Unit at any date means: (A) in the event that neither the Units nor Public Warrants are still trading, the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) (i) the Current Market Price of the Common Stock multiplied by (ii) the number of shares of Common Stock underlying one Unit, which shall include the shares of Common Stock underlying the Warrants included in such Unit; (B) in the event that the Units, Common Stock and Public Warrants are still trading, (i) if the Units are listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor exchange), the last sale price of the Units in the principal trading market for the Units as reported by the exchange, Nasdaq or the NASD, as the case may be, on the last trading day preceding the date in question; or (ii) if the Units are not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor exchange), but is traded in the residual over-the-counter market, the closing bid price for Units on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (C) in the event that the Units are not still trading but the Common Stock and Public Warrants underlying the Units are still trading, the Current Market Price of the Common Stock plus the product of (x) the Current Market Price of the Public Warrants and (y) the number of shares of Common Stock underlying the Warrants included in one Unit. The “Current Market Price” shall mean (i) if the Common Stock (or Public Warrants, as the case may be) is listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor exchange), the last sale price of the Common Stock (or Public Warrants) in the principal trading market for the Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may be, on the last trading day preceding the date in question; (ii) if the Common Stock (or Public Warrants, as the case may be) is not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor exchange), but is traded in the residual over-the-counter market, the closing bid price for the Common Stock (or Public Warrants) on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith. In the event the Public Warrants have expired and are no longer exercisable, no “Value” shall be attributed to the Warrants underlying this Purchase Option. Additionally, in the event that this Purchase Option is exercised pursuant to this Section 2.3 and the Public Warrants are still trading, the “Value” shall be reduced by the difference between the Warrant Exercise Price and the exercise price of the Public Warrants multiplied by the number of Warrants underlying the Units included in the portion of this Purchase Option being converted.

  • Average Market Value is the average of the closing sale prices of the Common Stock during the thirty (30) day period immediately preceding the date before the redemption date on the Composite Tape for New York Stock Exchange Listed Stocks, or, if such stock is not quoted on the Composite Tape, on the New York Stock Exchange, or, if such stock is not listed on such Exchange, on the principal United States securities exchange registered under the Securities Exchange Act of 1934, as amended, on which such stock is listed, or, if such stock is not listed on any such exchange, the average of the closing sale prices with respect to a share of Common Stock during such thirty (30) day period, as quoted on the National Association of Securities Dealers, Inc. Automated Quotations System or any system then in use, or if no such quotations are available, the fair market value of the Common Stock as determined by the Board of Directors in good faith.

  • Pledged Equity Interest means an Equity Interest that is included in the Collateral at such time.

  • Pledged Equity has the meaning specified in the Security Agreement.

  • Appraised Current Market Value of any Aircraft means the lower of the average and the median of the three most recent Post-Default Appraisals of such Aircraft.

  • Pledged Equity Interests means all Pledged Stock, Pledged LLC Interests, Pledged Partnership Interests and Pledged Trust Interests.

  • Market Value as defined in the regulation prescribing the standards for real estate appraisals used in federally related transactions, 12

  • Pledged Treasury Securities has the meaning set forth in Section 2.1(c) of the Pledge Agreement.

  • Pledged LLC Interests means all right, title and interest of any Grantor as a member of any LLC and all right, title and interest of any Grantor in, to and under any LLC Agreement to which it is a party.

  • Permitted Collateral Liens means any “Permitted Liens” other than Liens specified in clauses (2), (3), (4), (5), (14) or (18) of the definition of “Permitted Liens.”

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Per Share Market Value means on any particular date (a) the last closing bid price per share of the Common Stock on such date on the OTC Bulletin Board or another registered national stock exchange on which the Common Stock is then listed, or if there is no such price on such date, then the closing bid price on such exchange or quotation system on the date nearest preceding such date, or (b) if the Common Stock is not listed then on the OTC Bulletin Board or any registered national stock exchange, the last closing bid price for a share of Common Stock in the over-the-counter market, as reported by the OTC Bulletin Board or in the National Quotation Bureau Incorporated or similar organization or agency succeeding to its functions of reporting prices) at the close of business on such date, or (c) if the Common Stock is not then reported by the OTC Bulletin Board or the National Quotation Bureau Incorporated (or similar organization or agency succeeding to its functions of reporting prices), then the average of the "Pink Sheet" quotes for the five (5) Trading Days preceding such date of determination, or (d) if the Common Stock is not then publicly traded the fair market value of a share of Common Stock as determined by an Independent Appraiser selected in good faith by the Majority Holders; provided, however, that the Issuer, after receipt of the determination by such Independent Appraiser, shall have the right to select an additional Independent Appraiser, in which case, the fair market value shall be equal to the average of the determinations by each such Independent Appraiser; and provided, further that all determinations of the Per Share Market Value shall be appropriately adjusted for any stock dividends, stock splits or other similar transactions during such period. The determination of fair market value by an Independent Appraiser shall be based upon the fair market value of the Issuer determined on a going concern basis as between a willing buyer and a willing seller and taking into account all relevant factors determinative of value, and shall be final and binding on all parties. In determining the fair market value of any shares of Common Stock, no consideration shall be given to any restrictions on transfer of the Common Stock imposed by agreement or by federal or state securities laws, or to the existence or absence of, or any limitations on, voting rights.

  • Pledged Stock has the meaning assigned to such term in Section 3.01.

  • Contested Collateral Lien Conditions means, with respect to any Permitted Lien of the type described in clauses (a), (b), (e) and (f) of Section 6.02, the following conditions:

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Pledged Interests shall have the meaning ascribed to such term in Section 4(j).

  • Combined Collateral LLC: Combined Collateral LLC, a Delaware limited liability company.