EFFECTIVE ADVANCE RATE Sample Clauses

EFFECTIVE ADVANCE RATE. As of any date of determination, the quotient (expressed as a percentage) obtained by dividing (x) the then aggregate outstanding principal amount of all of the Loans by (y) the Borrowing Base as of such date of determination.
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EFFECTIVE ADVANCE RATE. Section 1.1(z) is hereby deleted in its entirety and in its place instead is substituted the following:
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EFFECTIVE ADVANCE RATE. The term "Effective Advance Rate" shall mean the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Agent hereunder. The Effective Advance Rate shall at no time exceed the "MAXIMUM EFFECTIVE ADVANCE RATE", DETERMINED AS FOLLOWS: (i) 95%; or (ii) SUCH HIGHER RATE AS MAY BE AGREED TO BY TFC IN WRITING IN ITS SOLE AND ABSOLUTE DISCRETION PROVIDED, HOWEVER, THAT THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF THE REVOLVING LOAN COMPONENT DIVIDED BY THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF ALL ELIGIBLE NOTES RECEIVABLE PLEDGED TO AGENT HEREUNDER WILL NOT EXCEED 75%. In addition, the Effective Advance Rate determined with respect to the aggregate of the Loan, the Additional Credit Facility and the Tranche C Facility (collectively "TFC's Facilities") shall at no time exceed: (i) 95% of the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to TFC, as agent or lender as applicable, under TFC's Facilities; or (ii) SUCH HIGHER RATE AS MAY BE AGREED TO BY TFC IN WRITING IN ITS SOLE AND ABSOLUTE DISCRETION PROVIDED, HOWEVER, THAT THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF THE REVOLVING LOAN COMPONENTS OF TFC'S FACILITIES DIVIDED BY THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF ALL ELIGIBLE NOTES RECEIVABLE PLEDGED TO AGENT UNDER TFC'S FACILITIES WILL NOT EXCEED 75%."
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EFFECTIVE ADVANCE RATE. The term "Effective Advance Rate" shall mean the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Agent hereunder. The Effective Advance Rate shall at no time exceed 95% (the "Maximum Effective Advance Rate"). In addition, the Effective Advance Rate determined with respect to the aggregate of the Loan, the Additional Credit Facility and the Tranche C Facility (collectively "TFC's Facilities") shall at no time exceed 95% of the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to TFC, as agent or lender as applicable, under TFC's Facilities.
Sample 1
EFFECTIVE ADVANCE RATE. The Borrower shall not permit the overall effective advance rate (based on the Tier 1 Advance Rate, the Tier 2 Advance Rate, the Tier 3 Advance Rate and the Tier 4 Advance Rate) of the Aggregate Adjusted Purchased Loan Balances of all Eligible Loans to exceed 55% (the “Temporary Advance Rate Test”). Any breach of the Temporary Advance Rate Test shall be deemed to be an Early Termination Event under Section 8.1(b) of the Credit Agreement, subject to the two (2) Business Day cure period provided for in such Section.
Sample 1
EFFECTIVE ADVANCE RATE. As of any date of determination, a fraction stated as a percentage, the numerator of which is equal to the then Aggregate Loan Principal Balance and the denominator of which is equal to the then Net Investment Value of all Collateral Containers that are subject to the MSC Lease on the Closing Date. Eligible Assignee. Any of the following: (a) Lender; (b) an Affiliate of a Lender; (c) an Approved Fund; and (d) any other Person (other than a natural person) approved by (i) the Administrative Agent, and (ii) unless an Event of Default has occurred and is continuing CAI (each such approval not to be unreasonably withheld or delayed); provided that notwithstanding the foregoing, “Eligible Assignee” shall not include the Borrower, the Borrower’s Affiliates or Subsidiaries or any Disqualified Institution to which CAI has not given its consent, or any party that (as of the date of any assignment) would be entitled to any incremental indemnity or other payments from Borrower on account of withholding, additional costs or any other matters described in Article 5 in an amount in excess of the amounts that the assignor Lender would be entitled to as of such date..
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EFFECTIVE ADVANCE RATE. Section 1.1(pppp) is hereby deleted in its entirety and in its place instead is substituted the following:
Sample 1
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EFFECTIVE ADVANCE RATE. The term "Effective Advance Rate" shall mean the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Lender hereunder. The Effective Advance Rate shall at no time exceed the "MAXIMUM EFFECTIVE ADVANCE RATE", DETERMINED AS FOLLOWS: (i) 95%; or (ii) SUCH HIGHER RATE AS MAY BE AGREED TO BY TFC IN WRITING IN ITS SOLE AND ABSOLUTE DISCRETION PROVIDED, HOWEVER, THAT THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF THE REVOLVING LOAN COMPONENT DIVIDED BY THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF ALL ELIGIBLE NOTES RECEIVABLE PLEDGED TO TFC HEREUNDER WILL NOT EXCEED 75%. In addition, the Effective Advance Rate determined with respect to the aggregate of
Sample 1

Related to EFFECTIVE ADVANCE RATE

  • Revolving Advances Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower in aggregate amounts outstanding at any time equal to such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Letters of Credit or (y) an amount equal to the sum of:

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Revolver Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrower in an amount at any one time outstanding not to exceed the lesser of:

  • Interest on Revolving Credit Loans Except as otherwise provided in Section 5.11,

  • Interest on Revolving Credit Advances Each Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to such Borrower owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Protective Advances and Optional Overadvances (i) Any contrary provision of this Agreement or any other Loan Document notwithstanding (but subject to Section 2.3(d)(iv)), at any time (A) after the occurrence and during the continuance of a Default or an Event of Default, or (B) that any of the other applicable conditions precedent set forth in Section 3 are not satisfied, Agent hereby is authorized by Borrowers and the Lenders, from time to time, in Agent’s sole discretion, to make Revolving Loans to, or for the benefit of, Borrowers, on behalf of the Revolving Lenders, that Agent, in its Permitted Discretion, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, or (2) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations) (the Revolving Loans described in this Section 2.3(d)(i) shall be referred to as “Protective Advances”).

  • Protective Advances (a) Subject to the limitations set forth below, the Administrative Agent is authorized by the Company and the Lenders, from time to time during the Availability Period, in the Administrative Agent’s sole discretion (but with no obligation), to make Loans in US Dollars to the Company, on behalf of all Lenders, which the Administrative Agent, in its Permitted Discretion, deems necessary or desirable (i) to preserve or protect the Collateral or any portion thereof, (ii) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations or (iii) to pay any other amount chargeable to or required to be paid by the Borrowers pursuant to the terms of this Agreement, including payments of reimbursable expenses (including costs, fees, and expenses described in Section 8.03) and other sums payable under the Loan Documents (any such Loans are herein referred to as “Protective Advances”); provided that the aggregate principal amount of Protective Advances outstanding at any time shall not exceed $50,000,000; provided further that the making of any Protective Advance shall not cause the Aggregate Credit Exposure to exceed the Aggregate Commitments. Protective Advances may be made when a Default exists or the conditions precedent set forth in Section 4.02 are not otherwise satisfied. The Protective Advances shall be secured by the Liens created by the Collateral Documents and shall constitute Obligations. The Company shall be required to repay (or, subject to the satisfaction of the conditions precedent set forth in Section 4.02, refinance with the proceeds of a Borrowing) each Protective Advance within 45 days after such Protective Advance is made. Without affecting Protective Advances already made, the Administrative Agent’s authorization to make future Protective Advances may be revoked at any time by the Required Lenders. Any such revocation must be in writing and shall become effective prospectively upon the Administrative Agent’s receipt thereof. At any time that there is sufficient Excess Availability and the conditions precedent set forth in Section 4.02 have been satisfied, the Administrative Agent may request, on behalf of the Company, the Lenders to make ABR Loans to repay any Protective Advance. At any other time the Administrative Agent may require the Lenders to acquire participations in any Protective Advance as described in Section 2.04(b).

  • Revolving Credit Loan The Borrower hereby requests a [Revolving Credit Loan under §2.1] [Swing Loan under §2.5] of the Credit Agreement: Principal Amount: $ Type (LIBOR Rate, Base Rate): Drawdown Date: Interest Period for LIBOR Rate Loans: by credit to the general account of the Borrower with the Agent at the Agent’s Head Office. [If the requested Loan is a Swing Loan and the Borrower desires for such Loan to be a LIBOR Rate Loan following its conversion as provided in §2.5(d), specify the Interest Period following conversion: ]

  • Revolving Credit Advances The Borrower shall repay to the Administrative Agent for the ratable account of the Lenders on the Termination Date the aggregate outstanding principal amount of the Revolving Credit Advances then outstanding.

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

  • Refinancing of Swing Line Loans (i) The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf the Borrower (which hereby irrevocably authorizes such Swing Line Lender to so request on its behalf), that each Revolving Credit Lender make a Base Rate Loan in an amount equal to such Lender’s Pro Rata Share of the amount of Swing Line Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the aggregate Revolving Credit Commitments and the conditions set forth in Section 4.01. The relevant Swing Line Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Pro Rata Share of the amount specified in such Committed Loan Notice available to the Administrative Agent in Same Day Funds for the account of the Swing Line Lender at the Administrative Agent’s Office not later than 1:00 p.m. (New York City time) on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender.

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