Required Advance Reduction Amount definition

Required Advance Reduction Amount. As of any Measurement Date, an amount equal to the greater of (a)(i) Advances Outstanding on such day minus (ii) the Borrowing Base on such day and (b) zero.

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Required Advance Reduction Amount. On any day, an amount equal to the positive difference, if any, of (a) Advances Outstanding on such day minus (b) the Maximum Availability on such day.

Required Advance Reduction Amount. On any Payment Date, the amount of Advances Outstanding required to be repaid in order to cause the Availability to exceed $0.

Examples of Required Advance Reduction Amount in a sentence

Any reduction of the Advances Outstanding (other than with respect to payments of the Required Advance Reduction Amount) shall be in a minimum amount of $1,000,000 (or the Alternative Currency Equivalent thereof) with integral multiples of $100,000 (or the Alternative Currency Equivalent thereof).
No Swing Line Advance shall be made on any date that: (1) the Required Advance Reduction Amount is greater than zero; or (2) the Swing Line Lender has actual knowledge of the existence of an Event of Default.
Any reduction of the Advances Outstanding (other than with respect to prepayments of Advances Outstanding to be made by the Borrower to reduce the Required Advance Reduction Amount to an amount equal to zero) shall be in a minimum amount of $1,000,000 with integral multiples of $100,000.
In addition, Advances Outstanding shall be repaid as and when necessary to cause (i) the Advances Outstanding not to exceed the lesser of: (A) the Borrowing Base; and (B) the Facility Amount; and (ii) the Required Advance Reduction Amount to equal zero, and any amount so repaid may, subject to the terms and conditions hereof, be reborrowed hereunder during the Revolving Period.
Upon Administrative Agent’s receipt of such Deemed Collection and so long as no Default or Event of Default has occurred and the Required Advance Reduction Amount is not greater than zero, the Administrative Agent, as agent for the Secured Parties, shall release from the lien created by this Agreement the Pledged Loan with respect to which the Administrative Agent has received such Deemed Collection.

More Definitions of Required Advance Reduction Amount

Required Advance Reduction Amount. On any day, the amount of Advances Outstanding required to be repaid to cause the Availability to equal or exceed $0.

Required Advance Reduction Amount. On any day, an amount equal to the sum of (1) the greater of (i) the positive difference, if any, of Advances Outstanding on such day minus the Maximum Availability on such day, and (ii) with respect to all other Principal Collections, 75% (or, in connection with an Optional Sale under Section 2.19, such other amount set forth in the consent provided in connection therewith), of the amount of Principal Collections (including, without limitation, principal reductions under Revolving Loans) in the Principal Collections Account, plus (2) the Special Reduction Amount, and minus (3) amounts paid to the Administrative Agent and applied in the manner set forth in Section 2.8.

Required Advance Reduction Amount. On any Payment Date, an amount equal to the positive excess, if any, of (a) the aggregate Outstanding Amount on such day over (b) the lesser of (i) the Advance Limit on such day and (ii) the Borrowing Base on such day, and, on any other day, an amount such that any Unmatured Event of Default pursuant to Section 10.1(f) shall be cured.

Required Advance Reduction Amount. On any day, an amount equal to the larger positive difference, if any, of either (i) Advances Outstanding on such day minus the Maximum Availability on such day, or (ii) Combined Advances Outstanding on such day minus the Combined Commitment Amount on such day (recognizing that Combined Advances Outstanding may be lowered by reductions in Advances Outstanding hereunder as well as by reductions in “Advances Outstanding” under the other Citibank Facilities).

Required Advance Reduction Amount. As of any Measurement Date, an amount equal to the greater of (a)(i) Advances Outstanding on such day minus (ii) the Borrowing Base on such day and (b) zero. “Required Lenders”: The Lenders representing an aggregate of more than 50% of (a) prior to the earlier to occur of the Revolving Period End Date or the Termination Date, the aggregate Commitments of the Lenders then in effect and (b) thereafter, the outstanding Advances; provided that, for the purposes of determining the Required Lenders, in the event that a Lender fails to provide funding for an Advance hereunder for which all conditions precedent have been satisfied, such Lender, as applicable, shall not constitute a Required Lender hereunder (and the Commitment of such Lender, and the portion of any outstanding Advances, as applicable, held or deemed held by, any Defaulting Lender shall be disregardedexcluded for purposes of determining whether the consentmaking a determination of the Required Lenders has been obtained). “Required Loan Documents”: For each Loan, the following documents or instruments: (a)

Required Advance Reduction Amount means on any day, an amount equal to the positive difference, if any, of (a) the sum of: (i) Advances Outstanding on such day and (ii) the Aggregate Net ▇▇▇▇ to Market Amount on such day, minus (b) the lesser of (i) the Borrowing Base on such day and (ii) the Facility Amount.

Required Advance Reduction Amount. As of any Payment Date, the greater of (i) the amount of Advances Outstanding required to be repaid in order to cause the Availability to equal or exceed $0 and (ii) to the extent the Facility Amount exceeds $150,000,000, an amount equal to 80% of (A) the Net Proceeds actually received and available to be retained by the Seller from the sale or other monetization of Assets pursuant to Section 2.17 and (B) the aggregate Principal Collections received, in each case during the prior Collection Period.