Common use of Net Orderly Liquidation Value Clause in Contracts

Net Orderly Liquidation Value. Effective the first time that Lender implements an Asset Sale Lending Adjustment pursuant to Section 5 of this Amendment, all references to the term "Net Orderly Liquidation Value" in the Loan Agreement and the other Financing Agreements shall be deemed and each such reference is hereby amended to mean, (A) as to Eligible Inventory other than Gump's Eligible Inventory or TCS Eligible Inventory consisting of raw materials, an amount equal to eighty (80%) percent of the gross proceeds that could be realized in cash if such Inventory were sold within a six (6) to nine (9) month period in an orderly liquidation sale, and (B) as to TCS Eligible Inventory consisting of raw materials, an amount equal to seventy (70%) percent of the gross proceeds that could be realized in cash if such Inventory were sold within a six (6) to nine (9) month period in an orderly liquidation sale minus, in each case under clauses (A) and (B), the estimated costs, expenses, fees, including reasonable attorneys fees, taxes and other charges which would be incurred in connection with such sales, and estimated returns, all as set forth in, or calculated using, the most recent Appraisal.

Net Orderly Liquidation Value. Effective the first time that Lender implements an Asset Sale Lending Adjustment pursuant to Section 5 of this Amendment, all All references to the term "Net Orderly Liquidation Value" in the Loan Agreement and the other Financing Agreements shall be deemed deemed, and each such reference is hereby amended amended, to mean, mean (A) as to Eligible Inventory other than Gump's Eligible Inventory or TCS Eligible Inventory consisting of raw materials, an amount equal to eighty eighty-five (8085%) percent of the gross proceeds that could be realized in cash if such Inventory were sold within a six (6) to nine (9) month period in an orderly liquidation sale, and (B) as to TCS Eligible Inventory consisting of raw materials, an amount equal to seventy eighty-five (7085%) percent of the gross proceeds that could be realized in cash if such Inventory were sold within a six (6) to nine (9) month period in an orderly liquidation sale minus, in each case under clauses (A) and (B), the estimated costs, expenses, fees, including reasonable attorneys attorneys' fees, taxes and other charges which would be incurred in connection with such sales, and estimated returns, all as set forth in, or calculated using, the most recent Appraisal.