Scaled Assets definition

Scaled Assets means with respect to the Sonic Group, the sum of (A) an amount equal to 75% of the Sonic Group's Receivables which constitute factory receivables, (B) an amount equal to 60% of the Sonic Group's Receivables which constitute current finance receivables, (C) an amount equal to 60% of the Sonic Group's Receivables which constitute receivables for parts and services (after netting any amounts payable in connection with such parts and services by any member of the Sonic Group), (D) an amount equal to 55% of the Sonic Group's Inventory which constitutes parts and accessories, (E) an amount equal to 80% of the that portion of the Sonic Group's Inventory which constitutes used vehicles less the amount of any outstanding Floor Plan Indebtedness of any member of the Sonic Group incurred in connection with such used vehicles, and (F) an amount equal to 45% of the difference between (i) the value of the Sonic Group's Equipment and (ii) the amount of Indebtedness of any member of the Sonic Group incurred in connection with such Equipment. The value of the Sonic Group's Scaled Assets shall be calculated by the Agent and shall be determined based on the financial statements and monthly factory statements delivered to the Agent pursuant to Section 5.1(A). Scaled Assets shall be measured as of the most recent quarterly report of Scaled Assets published by Borrower prior to the date of this Agreement and as of the end of each calendar quarter.
Sample 1Sample 2
Scaled Assets means with respect to the Lithia Group, the sum of (A) an amount equal to 75% of the Lithia Group's Receivables which constitute factory receivables, (B) an amount equal to 60% of the Lithia Group's Receivables which constitute current finance receivables, (C) an amount equal to 60% of the Lithia Group's Receivables which constitute receivables for parts and services (after netting any amounts payable in connection with such parts and services by any member of the Lithia Group), (D) an amount equal to 55% of the Lithia Group's Inventory which constitutes parts and accessories, (E) an amount equal to 80% of the difference between (i) that portion of the Lithia Group's Inventory which constitutes used vehicles and (ii) the amount of any Floor Plan Indebtedness of any member of the Lithia Group incurred or available in connection with such used vehicles, and (F) an amount equal to 45% of the difference between (i) the value of the Lithia Group's Equipment and (ii) the amount of Indebtedness of any member of the Lithia Group incurred in connection with such Equipment. The value of the Lithia Group's Scaled Assets shall be calculated by the Lender and shall be determined based on the financial statements and monthly factory statements delivered to the Lender pursuant to SECTION 5.1(A). Scaled Assets shall be measured as of the Effective Date and as of the end of each calendar quarter.
Sample 1Sample 2
Scaled Assets means with respect to the Sonic Group, the sum of (A) an amount equal to 75% of the Sonic Group's Receivables which constitute factory receivables, (B) an amount equal to 60% of the Sonic Group's Receivables which constitute current finance receivables, (C) an amount equal to 60% of the Sonic Group's Receivables which constitute receivables for parts and services (after netting any amounts payable in connection with such parts and services by any member of the Sonic Group), (D) an amount equal to 55% of the Sonic Group's Inventory which constitutes parts and accessories, (E) an amount equal to 80% of the that portion of the Sonic Group's Inventory which constitutes used vehicles less the amount of any outstanding Floor Plan Indebtedness of any member of the Sonic Group incurred in connection with such used vehicles, (F) an amount equal to 45% of the difference between (i) the value of the Sonic Group's Equipment and (ii) the amount of Indebtedness of any member of the Sonic Group incurred in connection with such Equipment and (G) an amount equal to 50% of the Contracts Balance. The value of the Sonic Group's Scaled Assets shall be calculated by the Agent and shall be determined based on the financial statements, monthly factory statements and other reports delivered to the Agent pursuant to Section 5.1(A). Scaled Assets shall be measured as of the most recent quarterly report of Scaled Assets published by Borrower prior to the date of this Agreement and as of the end of each calendar quarter.
Sample 1Sample 2

Examples of Scaled Assets in a sentence

  • The Borrower agrees to pay the Lender, upon demand, the principal amount of all funds advanced by the Lender under this Section 8.3, together with interest thereon at the rate from time to time applicable to Advances (in excess of the Scaled Assets) from the date of such advance until the outstanding principal balance thereof is paid in full.

  • The Borrower shall not at any time permit the ratio (the "LOAN TO VALUE RATIO") of (i) the Commitment to (ii) Scaled Assets to be greater than 3.5:1, provided, however, that at such time as all Restricted Dealerships become Unrestricted Dealerships and deliver the Dealership Guaranty and Dealership Security Agreement in the forms of Exhibit C-1 and D-1 respectively, the Loan to Value Ratio shall thereafter be 3:1.

  • If at any time and for any reason the aggregate amount of Working Capital Funds advanced is greater than one hundred percent (100%) of the Scaled Assets value (as determined by Lender) then Borrower shall immediately make a mandatory prepayment of the Obligations in an amount equal to such excess.

  • On the Termination Date, the Borrower shall pay, in addition to any unpaid principal amount of any Advance, interest at the Collection Rate and an amount equal to the Scaled Assets Adjustment Amount to the Lender.

  • On each Payment Date which is a Quarterly Payment Date, the Borrower shall pay, in addition to interest at the Collection Rate, an amount equal to the Scaled Assets Adjustment Amount to the Lender.

  • On each Payment Date which is a Quarterly Payment Date, the Borrower shall pay, in addition to interest at the Prime Rate, an amount equal to the Scaled Assets Adjustment Amount to the Lender.

  • The Borrower shall use the proceeds of the Advances to fund Permitted Acquisitions or for any other purpose related to Borrower's or Dealership Guarantor's business ("Working Capital Funds"), provided, however, that the aggregate amount of Advances outstanding at any given time as Working Capital Funds shall not exceed one hundred percent (100%) of the Scaled Assets value (as determined by Lender) .


More Definitions of Scaled Assets

Scaled Assets means with respect to the Sonic Group, the sum of (A) an amount equal to 75% of the Sonic Group's Receivables which constitute factory receivables, (B) an amount equal to 60% of the Sonic Group's Receivables which constitute current finance receivables, (C) an amount equal to 60% of the Sonic Group's Receivables which constitute receivables for parts and services (after netting any amounts payable in connection with such parts and services by any member of the Sonic Group), (D) an amount equal to 55% of the Sonic Group's Inventory which constitutes parts and accessories, (E) an amount equal to 80% of the difference between (i) that portion of the Sonic Group's Inventory which constitutes used vehicles and (ii) the amount of any Floor Plan Indebtedness of any member of the Sonic Group incurred or available in connection with such used vehicles, and (F) an amount equal to 45% of the difference between (i) the value of the Sonic Group's Equipment and (ii) the amount of Indebtedness of any member of the Sonic Group incurred in connection with such Equipment. The value of the Sonic Group's Scaled Assets shall be calculated by the Lender and shall be determined based on the financial statements and monthly factory statements delivered to the Lender pursuant to Section 5.1(A). Scaled Assets shall be measured as of the Effective Date and as of the end of each calendar quarter.
Sample 1
Scaled Assets means with respect to the Sonic Group, the sum of (i) an amount equal to 75% of the Sonic Group’s Receivables which constitute factory receivables, (ii) an amount equal to 60% of the Sonic Group’s Receivables which constitute current finance receivables, (iii) an amount equal to 60% of the Sonic Group’s Receivables which constitute receivables for parts and services (after netting any amounts payable in connection with such parts and services by any member of the Sonic Group), (iv) an amount equal to 55% of the Table of Contents Sonic Group’s Inventory which constitutes parts and accessories, (v) an amount equal to 80% of the that portion of the Sonic Group’s Inventory which constitutes used vehicles less the amount of any outstanding Floor Plan Indebtedness of any member of the Sonic Group incurred in connection with such used vehicles, (vi) an amount equal to 45% of the difference between (a) the value of the Sonic Group’s Equipment and (b) the amount of Indebtedness of any member of the Sonic Group incurred in connection with such Equipment and (vii) an amount equal to 50% of the Contracts Balance. The value of the Sonic Group’s Scaled Assets shall be calculated by the Agent and shall be determined based on the financial statements, monthly factory statements and other reports delivered to the Agent pursuant to Section 5.1(A). Scaled Assets shall be measured as of the most recent quarterly report of Scaled Assets published by Borrower prior to the date of this Agreement and as of the end of each calendar quarter.
Sample 1

Related to Scaled Assets

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Retained Assets has the meaning set forth in Section 2.2.

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.

  • Combined Assets means the sum of Fund Assets and Other Assets; and

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Fixed Assets means Equipment and Real Estate.

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II hereof.

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Assets and Properties of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned, licensed or leased by such Person, including cash, cash equivalents, Investment Assets, accounts and notes receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Property, Plant and Equipment means any item of real property, or any interest therein, buildings, improvements and machinery.

  • Designated Assets means any property or assets (including Capital Stock of any Subsidiary) of Holdings, the Restricted Parent, the Issuer and their respective Restricted Subsidiaries constituting a business, a line or unit of a business or used in operating a business substantially as an entirety.

  • Aggregated Assets for a particular Strategy shall mean the assets of all registered investment companies managed by the Adviser that are managed by the Sub-Adviser pursuant to that Strategy, including Portfolio Assets.

  • Conveyed Assets shall have the meaning set forth in Section 2.01.

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Real Property Assets means as to any Person as of any time, the real property assets (including, without limitation, interests in participating mortgages in which such Person’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by such Person at such time.

  • Excluded Assets has the meaning set forth in Section 2.02.

  • surplus assets means any assets of the Company that remain after paying all debts and other liabilities of the Company, including the costs of winding up.