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.

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).

• 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.

• On each reduction of Advances Outstanding pursuant to Section 2.4(b), or on each repayment of Advances or each pledge of additional Eligible Loans, in each case to pay any Required Advance Reduction Amount pursuant to Section 2.6(b), the Borrower (and the Servicer on its behalf) will provide a Repayment Notice and a Borrowing Base Certificate, each updated as of such date, to the Administrative Agent and each Purchaser Agent (with a copy to the Trustee and the Backup Servicer).

• 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 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. 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. 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 the sum of (a) the Commitments then in effect of each Lender with respect to which neither the applicable Revolving Period End Date or the Termination Date has occurred plus (b) the outstanding Advances owing to each other Lender; provided that, for the purposes of determining the Required Lenders, (i) if at any time there is more than one non-Defaulting Lender (counting affiliated Lenders as a single Lender), at least two unaffiliated non-Defaulting Lenders shall be required to constitute “Required Lenders” and (ii) the Commitment of any Defaulting Lender shall be disregarded for purposes of determining whether the consent of the Required Lenders has been obtained and such Lender shall not constitute a Required Lender hereunder. “Required Loan Documents”: For each Loan, the following documents or instruments: (a)

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 Administrative Agent and the Revolving 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, (i) if at any time there is more than one non-Defaulting Lender (counting affiliated Lenders as a single Lender), at least two unaffiliated non-Defaulting Lenders shall be required to constitute “Required Lenders” and (ii) the Commitment of any Defaulting Lender shall be disregarded for purposes of determining whether the consent of the Required Lenders has been obtained and such Lender shall not constitute a Required Lender hereunder. “Required Loan Documents”: For each Loan, the following documents or instruments, in each case as specified on the related Loan Checklist: (a) unless such Loan is a Noteless Loan, if applicable, the original executed promissory note (or, in the case of a lost note, a copy of the executed underlying promissory note accompanied by an original executed affidavit and indemnity from the applicable Secured Party to the Administrative Agent); and/or (b) (i) unless such Loan is a Noteless Loan, an unbroken chain of endorsements from each prior holder of such promissory note to the applicable Secured Party, 41 USActive 60440347.7

Required Advance Reduction Amount means, on any Payment Date, the amount of Advances Outstanding required to be repaid in order to cause the Availability to be no less than €0.