Term Loan Formula Amount definition

Term Loan Formula Amount means, as of any date of determination, the sum of: (a) the M&E Advance Rate multiplied by the appraised net orderly liquidation value of Borrowers’ Eligible M&E as of such date (as determined by the most recent appraisal thereof ordered by Agent and received by Agent prior to such date); plus (b) the Real Property Advance Rate multiplied by the appraised fair market value of Borrowers’ Eligible Real Property as of such date (as determined by the most recent appraisal thereof ordered by Agent and received by Agent prior to such date).
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Term Loan Formula Amount an amount equal to the lesser of (a) $100,000,000, and (b) the sum of (i) 75% of the appraised “as-is” fair market value all of Real Estate in which Borrowers have a fee interest, and (ii) either (A) 100% of the appraised NOLV of Borrowers’ equipment located on such Real Estate, or (B) 85% of the orderly liquidation value of Borrowers’ equipment located on such Real Estate; and the determination of (A) or (B) shall be made by Agent in its Permitted Discretion; provided however that in no event shall the Term Loan Formula Amount exceed 80% of the sum of (x) the appraised “as-is” fair market value all of Real Estate in which Borrowers have a fee interest, and (y) either (1) the appraised NOLV of Borrowers’ equipment located on such Real Estate, or (2) the orderly liquidation value of Borrowers’ equipment located on such Real Estate; and the determination of (1) or (2) shall be made by Agent in its Permitted Discretion, provided further however, that, in each case, the results of such appraisals shall be reasonably satisfactory to Agent, and shall have been conducted by an appraiser or appraisers reasonably satisfactory to Agent.
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Examples of Term Loan Formula Amount in a sentence

  • Term Loan Formula Amount: as of any date of determination, the amount that is equal to the lesser of (i) $225,832,500, and (ii) the sum of (a) 75% of the appraised “as-is” fair market value of the Borrowers’ owned Real Estate, plus (b) 100% of the appraised NOLV of Borrowers’ owned Equipment, minus (c) applicable Availability Reserves relating to Collateral of Borrowers, described in clauses (f) and (g) of the definition thereof, in effect at such time.

  • The Term Loan shall be in an amount equal to the Term Loan Formula Amount.

  • Agent and each Lender shall have determined that the updated appraisals of the Eligible Real Property and Eligible M&E of the Borrowers received most recently prior to the Fifth Amendment Effective Date are sufficient to support a Term Loan Formula Amount on the Fifth Amendment Effective Date of at least $90,000,000.

Related to Term Loan Formula Amount

  • Maximum Revolving Advance Amount means $25,000,000.

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Tranche B Term Loan Facility as defined in the definition of “Facility” in this Section 1.1.

  • Tranche B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Maximum Term Loan Amount means Forty Million and No/100 Dollars ($40,000,000).

  • Loan Limit means, at any time, the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time (including as it may be reduced pursuant to Section 2.14(h)).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.

  • Formula Amount shall have the meaning set forth in Section 2.1(a).

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Maximum Revolving Amount At any date as of which same is to be determined, the amount by which (x) $3,500,000 exceeds (y) the sum of (i) all then undrawn amounts of letters of credit issued by the Bank for the account of the Borrower plus (ii) all amounts then drawn on any such letter of credit which at said date shall not have been reimbursed to the Bank by the Borrower.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Tranche B Term Loan Lender each Lender that has a Tranche B Term Loan Commitment or is the holder of a Tranche B Term Loan.

  • Maximum Advance Amount shall be Two Hundred Fifty Thousand Dollars ($250,000) per Advance Notice.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Term Loan Percentage means, with respect to any Term Loan Lender at any time, the percentage of the total outstanding principal balance of the Term Loans represented by the outstanding principal balance of such Term Loan Lender’s Term Loans.

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.