Definition of ABL Facility Cap


ABL Facility Cap means an amount equal to the greater of (x) $2,000.0 million and (y) 75% of the consolidated accounts receivable of the Issuer and its subsidiaries determined in accordance with GAAP.


ABL Facility Cap means an amount equal to the greater of (x) $1,125.0 million and (y) the sum of (i) 85% of the net orderly liquidation value as determined in good faith by the Issuer of inventory of the Issuer and each Guarantor and (ii) 90% of all credit card receivables of the Issuer and each Guarantor determined in accordance with GAAP.

ABL Facility Cap means $25,000,000.



More definitions of ABL Facility Cap

ABL Facility Cap means the lesser of (x) the maximum commitment amount under the ABL Facility and (y) the “Borrowing Base,” as calculated under the ABL Facility (as in effect on the Emergence Date, with eligibility and other relevant determinations relating to such “Borrowing Base” and its components to be consistent with past practice as of immediately prior to the Emergence Date).