Revolving Loan Borrowing Base definition

Revolving Loan Borrowing Base means, as at any date of determination thereof, an amount equal to the lesser of (i) the amount then available under the Revolving Credit Commitment and (ii) an amount equal to the sum of (A) eighty-five percent (85%) of the net amount of Eligible Accounts Receivable outstanding at such date and (B) fifty percent (50%) (the "Inventory Advance Rate") of Eligible Inventory at such date; provided, however, that the aggregate amount of advances for Eligible Inventory under the Revolving Credit Commitment shall not exceed $9,000,000 at any time.

Revolving Loan Borrowing Base means, on any date of determination shall mean, on any date of determination, an amount equal to the product of (a) the applicable Revolving Loan Advance Rate in effect as of such date, multiplied by (b) the aggregate amount of the Revolving Loan Forecasted Net Collections in respect of all Revolving Loan Financed Eligible Portfolios on such date. For the avoidance of doubt, no Term Loan Forecasted Net Collections nor any Delayed Draw Term Loan Forecasted Net Collections shall be, or be deemed to be, Revolving Loan Forecasted Net Collections or be included in the determination of the Revolving Loan Borrowing Base.

Revolving Loan Borrowing Base means, as of any date of determination:

Examples of Revolving Loan Borrowing Base in a sentence

• It is understood that the determination of the maximum principal amount of the Loans shall be made without regard to the components of the Revolving Loan Borrowing Base based upon Eligible Accounts and Eligible Inventory and the component of the Equipment Loan Borrowing Base based upon Eligible Equipment.

• Borrower shall not request any Revolving Loan or Equipment Loan if the effect of such Revolving Loan or Equipment Loan shall be to cause the aggregate balance of all Revolving Loans or Equipment Loans to exceed the Revolving Loan Borrowing Base or the Equipment Loan Borrowing Base, respectively.

• The amount supported by 85%, 87% or 90% of the NOI for market rate, affordable, or 90% project-based rental assisted properties, respectively.2. 85%, 87% or 90% of appraised value for market rate, affordable, or 90% project-based rental assisted properties, respectively.

• The indebtedness of Borrower by virtue of the making of any Revolving Loan or Equipment Loan shall not exceed the Revolving Loan Borrowing Base or the Equipment Loan Borrowing Base, respectively.

• Within the limits of the Revolving Loan Borrowing Base and the Revolving Loan Term, so long as Borrower is in compliance with all of the terms and conditions of this Agreement and no Defaulting Event has occurred, Borrower may request borrowings and may repay and request reborrowings of Revolving Loans.

More Definitions of Revolving Loan Borrowing Base

Revolving Loan Borrowing Base means, as at any date of determination thereof, an amount which is the sum of:

Revolving Loan Borrowing Base. Revolving Note", "Term Loan Commitment" and "Term Note" appearing in Paragraph 1.1 of the Agreement are hereby amended and restated to read as follows:

Revolving Loan Borrowing Base means, as of any date of determination: (a) an amount equal to the sum, without duplication, on such date of: (i) 100% of the amounts (excluding commissions included in clause (b) of the definition of Eligible Receivables) owing to the Dealerships in which the Agent has a perfected first priority security interest, which are owed to the Dealerships by financial institutions or finance companies which are not Affiliates of any Loan Party for the purchase by such institutions of retail installment contracts and leases arising from the sale or lease of New Vehicles and Used Vehicles (contracts in transit), which have not remained unpaid for more than fifteen (15) days. (ii) 80% of the amount of Eligible Receivables. (iii) 100% of the sum of the manufacturer’s or distributor’s invoices (including freight, advertising and holdbacks) for Eligible New Vehicles. (iv) 100% of the amount of the Used Vehicle Borrowing Base. (v) 75% of the Value of Eligible Real Property; provided, that this component of the Revolving Loan Borrowing Base shall not at any time exceed the greater of $1,000,000,0001,250,000,000 and 22.5% of the Aggregate Commitment. (vi) 65% of (A) the net book value of the inventory of the Company and its Subsidiaries consisting of new parts and accessories in which the Agent has a perfected first priority security interest; minus (B) the unpaid acquisition cost owed to sellers or financers of such inventory. (vii) 40% of (A) the net book value of equipment (excluding fixtures, aircraft, and Service Loaner Vehicles) of the Company and its Subsidiaries in which the Agent has a perfected first priority security interest, minus (B) the principal amount of indebtedness or obligations to 37 13483422v8

Revolving Loan Borrowing Base set forth in Section 1.1 of the Loan Agreement, as amended, is amended and restated in its entirety as follows: Revolving Loan Borrowing Base - Subject to the provisions of Section 2.3(13) of this Agreement, an amount equal to the lesser of the following amounts:

Revolving Loan Borrowing Base means: an amount equal to the lesser of: (i) Five Million Dollars ($5,000,000) or (ii) an amount equal to the aggregate of (1) eighty-five percent (85%) of Eligible Accounts plus (2) thirty percent (30%) of Eligible Inventory; provided, however, that at no time shall eighty-five percent (85%) of Eligible Accounts be less than fifty percent (50%) of the aggregate outstanding principal amount of the Revolving Loan.

Revolving Loan Borrowing Base means, at any time, the sum of: (a) 80% of the face amount of the Eligible Accounts, less unapplied cash; and (b) the lesser of (i) 40% of the value of the Eligible Inventory and (ii) $9,000,000, less the face amount of any L/C's outstanding.

Revolving Loan Borrowing Base shall have the meaning given to that term in the Fee Letter.