Recovery Value definition

Recovery Value means, for each Defaulted Loan that has been a Defaulted Loan for less than one year, the lowest of:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Recovery Value means, for (x) each Defaulted Loan that has been a Defaulted Loan for less than one year and (y) each Collateral Loan held in the form of a Closing Date Participation after the date that is 90 days after the Closing Date, the lowest of:

Recovery Value means, for (x) each Defaulted Loan that has been a Defaulted Loan for less than one year and (y) each Collateral Loan held in the form of a Closing Date Participation after the date that is the 60 days after Closing Date, the lowest of:

Examples of Recovery Value in a sentence

• ERV is defined as the most recent valuation of the property (must be less than 6 months old) less all amounts due for senior items (liens, taxes, HOA’s or other encumbrances) less anticipated costs of recovery (foreclosure fees and costs, REO disposition, etc) Approval required to accept less than 90% of Estimated Recovery Value (ERV) after REO on an individual or aggregate basis.

• Note Sales (Individual or Bulk) Approval to accept down to 90% of Estimated Recovery Value (ERV) after REO on an individual note or on an aggregate basis in a bulk sale.

• If the As Filed NBC-A&E Tax Basis is greater than the NBC-A&E Tax Basis or the adjusted tax basis of the NBC-A&E Interest used by the IRS is greater than the As Filed NBC-A&E Tax Basis, as the case may be, then Redemption Party shall promptly remit to the Company an amount equal to such Estimated Tax Recovery Value.

• No Advance will be funded unless, upon such funding, the outstanding principal balance of the Loan does not exceed the "Borrowing Base," defined as sixty-five percent (65%) of the aggregate "Adjusted ERV" of the Assets (applying the Estimated Recovery Value of each Asset most recently quoted from time to time by Borrower to Lender in writing, provided, however, that, on written notice to Lender from time to time, Borrower shall have the right to reduce, but not to increase, any Estimated Recovery Value).

• Outstanding borrowings under the Line of Credit, to a maximum of the principal amount set forth above, shall not at any time exceed an aggregate of (i) seventy-five percent (75.0%) of Borrower's Eligible Accounts Receivable (as defined below), PLUS (ii) eighty percent (80.0%) of the Appraised Net Recovery Value (as defined below) of Borrower's inventory.

More Definitions of Recovery Value

Recovery Value means, with respect to a Defaulted Collateral Obligation, the lowest of:

Recovery Value. ’ means the value, expressed as a percentage, of a claim against the obligor in respect of the relevant Collateral, as determined by the Swap Counterparty acting in good faith and in a commercially reasonable manner and by way of example but without limitation, the Swap Counterparty may in making this determination, take account of the mean of the market prices of all securities issued by the relevant obligor, disregarding any securities which have a market price which is at an artificially inflated level.

Recovery Value means either (x) the fair market value as of the time of distribution of any cash, securities or other property distributed in a bankruptcy case with respect to the Company in respect of an allowed claim in respect of principal based on the Credit Facility and an allowed interest based on the Shares plus, without duplication, the fair market value of any reinstated or substitute credit facility or other financial accommodation provided by the lender under the Credit Facility

Recovery Value means, for any applicable asset, the lowest of:

Recovery Value means with respect to Middle Market Loans and Broadly Syndicated Loans, 50%.

Recovery Value means, for each Defaulted Loan that has been a Defaulted Loan for less than one year, the lowest of: (a) the Principal Balance of such Defaulted Loan multiplied by the applicable S&P Recovery Rate for such Defaulted Loan;

Recovery Value means: (a) with respect to First Lien Loans, 45%; and (b) with respect to first lien last out loans, 20%.