Total Advance Rate definition

Total Advance Rate means, as of any date of determination, a percentage equal to the quotient of (a) the sum of (i) the total principal amount outstanding under the Term Loan as of such date (inclusive of any PIK Interest) plus (ii) the difference between (x) the total amount of Revolving Loan Advances outstanding as of such date and the sum of (A) Excess Unrestricted Cash as of such date and (B) amount on deposit in Total Advance Rate Reserve Account as of such date divided, by (b) the aggregate Adjusted Current Lease Balance for all Eligible Leases pledged hereunder.
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Total Advance Rate means 80.00%, provided, that, upon occurrence, and during the continuation, of a Level I Trigger Event, 75.00%.
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Total Advance Rate. “Class A Borrowing Base”, “Total Borrowing Base”, “Class A Borrowing Base Deficiency”, “Total Borrowing Base Deficiency”, “Annualized Charge-off Ratio”, “Concentration Limits”, “Level I Trigger Event”, “Level II Trigger Event”, “Level III Trigger Event”, “Class A Monthly Principal Amount”, “Class B Monthly Principal Amount”, “Total Required Collateralization Percentage”, “Reserve Account Required Amount”, “Senior Interest” or “Subordinate Interest”.
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Examples of Total Advance Rate in a sentence

  • The credit agreement also requires the Company to maintain the financial covenants with respect to minimum trailing twelve month (“TTM”) Adjusted EBITDA (as defined in the credit agreement), minimum tangible net worth, minimum liquidity of $50,000 of cash and cash equivalents on hand and compliance with the Total Advance Rate (as defined in the credit agreement).

  • Upon satisfaction of such conditions, the Agent shall direct the account bank to transmit the funds from the Total Advance Rate Reserve Account as specified by the Borrower.

  • The borrower may cure such Total Advance Rate by depositing funds into a reserve bank account in an amount necessary to reduce the Total Advance Rate to the maximum permitted rate for such period.

  • During the year ended December 31, 2021, the credit agreement was amended to, among other things: (1) amend the TTM Adjusted EBITDA financial covenant (2) increase the minimum liquidity covenant to $50,000; (3) amend the definition of “Liquidity” to include Cash Equivalents (as defined in the credit agreement): and (4) amend the Total Advance Rate (as defined in the credit agreement) financial covenant.

  • If at any time during which there is a Total Advance Rate Reserve Account, the Total Advance Rate exceeds the applicable rate for any of the foregoing periods, the Borrower may cure such Default by depositing funds in the Total Advance Rate Reserve Account in an amount necessary to reduce the Total Advance Rate to the maximum permitted rate for such period; provided that Borrower's right to cure a Default pursuant to this Section 6.19(c) may be exercised no more than a total of two (2) times.


More Definitions of Total Advance Rate

Total Advance Rate means the Total Senior Debt Commitment expressed as a percentage of the lesser of (a) the Equipment Cost and (b) the Fair Market Value of the Collateral as set forth in the Appraisal.
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Total Advance Rate means, as of any date of determination, a percentage equal to the quotient of (a) the sum of (i) the difference between (x) the total principal amount outstanding under the Term Loan as of such date and (y) the sum of (A) $20,000,000 and (B) the amounts (if any) in the Total Advance Rate Reserve Account plus (ii) the total amount of Revolving Loan Advances outstanding as of such date divided, by (b) the aggregate Adjusted Current Lease Balance for all Eligible Leases pledged hereunder.
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Total Advance Rate means 80.00%, provided, that, upon occurrence, and during the continuation, of a Level I Trigger Event, 75.00%.”
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Total Advance Rate means, as of any date of determination, a percentage equal to the quotient of (a) the sum of (i) the difference between (x) the total principal amount outstanding under the Term Loan as of such date and (y) $20,000,000 plus (ii) the total amount of Revolving Loan Advances outstanding as of such date divided, by (b) the aggregate Adjusted Current Lease Balance for all Eligible Leases pledged hereunder.
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Total Advance Rate means 80.00%, provided, that, upon occurrence, and during the continuation, of a Level I Trigger Event, a Monthly FICO Report Failure or an Initial System Conversion Event, 75.00%.
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Total Advance Rate. “Class A Borrowing Base”, “Total Borrowing Base”, “Class A Borrowing Base Deficiency”, “Total Borrowing Base Deficiency”, “Annualized Net Charge-off Ratio”, 164
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Total Advance Rate. “Class A Borrowing Base”, “Total Borrowing Base”, “Class A Borrowing Base Deficiency”, “Total Borrowing Base Deficiency”, “Annualized Net Charge-off Ratio”, “Concentration Limits”, “Level I Trigger Event”, “Level II Trigger Event”, “Level III Trigger Event”, “Class A Monthly Principal Payment Amount”, “Class B Monthly Principal Payment Amount”, “Monthly Loan Tape”, “Monthly Report”, “Regulatory Event”, “Revolving Period”, “Reserve Account Required Amount” or any defined term used in any of the foregoing definitions,
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