Funding Discount. Funding Discount" as measured on any Business Day means a percentage determined in accordance with the following formula: FD = (OTD/360) x FR WHERE: FD = the Funding Discount as measured on such Business Day; OTD = the "ORIGINATOR TURNOVER DAYS" for Originator, which shall be equal to the PRODUCT of (x) the QUOTIENT of (i) the aggregate Outstanding Balance of Pool Receivables originated by Originator as of the last day of the calendar month which occurs two months prior to the month in which such Business Day occurs, DIVIDED by (ii) the aggregate amount of the Collections received during the month ending on the last day of the calendar month ended immediately preceding such Business Day on Pool Receivables originated by Originator, MULTIPLIED by (y) the number of days in the month ending on the last day of the most recently ended calendar month; and FR = the Funding Rate as measured on such Business Day, as determined pursuant to PARAGRAPH (d) below, or, in the case of the initial purchase, a Funding Rate equal to 5.85% per annum
Funding Discount. A discount equal to 3.00% of the aggregate principal amount of the Incremental New Money Facility payable only to the extent that the Incremental New Money Facility is provided by the Incremental New Money Commitment Parties. Payment of Discounts/ Premiums All discounts and premiums owed with respect to the Incremental New Money Facility shall be payable in the form of additional Incremental New Money Term Loans; provided that, to the extent that as of the Closing Date, the sum of (x) unrestricted cash and cash equivalents of the Loan Parties and (y) undrawn availability under the Exit ABL Facility, exceeds an amount to be reasonably agreed among the Required Consenting BrandCo Lenders and the Debtors (“Excess Liquidity”), then such Excess Liquidity shall be applied as follows: - first, on a dollar for dollar basis in an amount of up to $14 million to pay the Incremental New Money Commitment Premium and Funding Discount in cash; - second, on a dollar for dollar basis to reduce the aggregate amount of the Equity Rights Offering to not less than $625 million; - third, on a dollar for dollar basis to reduce the amount of the Incremental New Money Facility to the extent that the aggregate amount of the First Lien Exit Facilities is no less than $1.275 billion; and - fourth, (i) 50% of any remaining Excess Liquidity shall be applied to further reduce the amount of the Incremental New Money Facility and (ii) the other 50% of any remaining Excess Liquidity shall be applied to reduce the amount of the Equity Rights Offering.
Funding Discount. Funding Discount" as measured on any Payment Date (or the initial purchase date) means a percentage determined in accordance with the following formula: FD = (OTD/360) x FR where: FD = the Funding Discount as measured on such Payment Date (or the initial purchase date); OTD = the "Originator Turnover Days" for such Originator, which shall be equal to the product of (x) the quotient of (i) the aggregate Outstanding Balance of Pool Receivables originated by such Originator during the Purchase Period which occurs two months prior to the month in which such Payment Date (or the initial purchase date for such Originator) occurs, divided by (ii) the aggregate amount of the Collections received during the Purchase Period ending on the Month End Date immediately preceding such Payment Date (or initial purchase date for such Originator) on Pool Receivables originated by such Originator, multiplied by (y) the number of days in the calendar month coinciding with such Purchase Period; and FR = the Funding Rate as measured on such Payment Date, as determined pursuant to paragraph (d) below, or, in the case of the initial purchase, a Funding Rate equal to 4.60% per annum (or such rate as is specified in the Supplement for such Originator).
Funding Discount. Funding Discount" with respect to an Originator, as measured on any Payment Date, means a percentage determined in accordance with the following formula: FD = (AM/360) x FR where: FD = the Funding Discount as measured on such Payment Date; AM = the Average Maturity of the Receivables as of the most recent Month End Date; and FR = the Funding Rate as measured on such Payment Date, as determined pursuant to paragraph (d) below.
Funding Discount. FUNDING DISCOUNT" with respect to an Originator, as measured on any Payment Date, means a percentage determined in accordance with the following formula: FD = (AM/360) x FR where: FD = the Funding Discount as measured on such Payment Date; AM = the Average Maturity of the Receivables as of the most recent Month End Date; and FR = the Funding Rate as measured on such Payment Date, as determined pursuant to PARAGRAPH (d) below.
Funding Discount. (a) Each initial Term A Lender will fund its Term A Loan to the Term A Loan Borrower net of a three percent (3.0%) discount (the “Term A Funding Discount”), but will be deemed to have funded the entire gross amount of its Term A Loan set forth in Exhibit 1.1A, and extended credit to the Term A Loan Borrower in such gross amount, and the Register maintained by the Administrative Agent pursuant to Section 9.6(c) will so reflect. The Term A Borrower, the Term A Lenders and the Agents agree, for purposes of Section 1271 et seq. of the Code, the original issue price of the Term A Loans will be 97.00% of their gross principal amount as reflected in Exhibit 1.1A.
