Accounts Formula Amount definition

Accounts Formula Amount means the sum of (i) 85% of the Value of Eligible Accounts (other than Eligible Accounts that are either owing by an Investment Grade Account Debtor or Accounts that are Insured Accounts) plus (ii) 90% of the Value of Eligible Accounts that are either (x) owing by an Investment Grade Account Debtor or (y) Insured Accounts plus (iii) the lesser of (x)(1) 85% of the Value of Eligible Unbilled Accounts (other than Eligible Unbilled Accounts that are either owing by an Investment Grade Account Debtor or Accounts that are Insured Accounts) plus (2) 90% of the Value of Eligible Unbilled Accounts that are either (a) owing by an Investment Grade Account Debtor or (b) Insured Accounts and (y) $75,000,000.

Accounts Formula Amount means 87.5% of the amount of Eligible Accounts, less the amount, if any, of the Dilution Reserve. Subject to Agent’s right to apply and revise eligibility criteria for Eligible Accounts and/or adjust the Dilution Reserve, in each case, in its Permitted Discretion in accordance with the terms of the Agreement, the Accounts Formula Amount shall be determined by reference to the Borrowing Base Certificate most recently delivered to Agent.

Accounts Formula Amount means on any date of determination, (x) the product of (i) 85% and (ii) the Value of the Loan Parties’ Eligible Accounts minus (y) the Dilution Reserve on such date of determination.

Examples of Accounts Formula Amount in a sentence

• Borrowing Base: on any date of determination, an amount equal to the sum of (a) the lesser of (i) the aggregate amount of Revolver Commitments, minus the LC Reserve; or (ii) the sum of the Accounts Formula Amount, plus the Inventory Formula Amount; plus (b) the lesser of (i) $10,000,000 and (ii) the amount of the Borrowers’ Eligible Pledged Cash; less (c) the Availability Reserve.

• Account Debtor: a Person obligated under an Account, Chattel Paper or General Intangible.Accounts Formula Amount: 85% of the Value of Eligible Accounts; provided, that (a) no greater than $10,000,000 of the Accounts Formula Amount may be derived from Eligible Extended Terms Accounts, and (b) no greater than $10,000,000 of the Accounts Formula Amount may be derived from Eligible U.S. Government Accounts.

• The following definitions in Section 1.1 of the Loan Agreement are hereby and restated to read in their entirety as follows: Borrowing Base: on any date of determination, an amount equal to the sum of (a) the lesser of (i) the aggregate Revolver Commitments and (ii) the sum of the Accounts Formula Amount plus the Unbilled Accounts Formula Amount plus the Cash Formula Amount plus the Motor Vehicle Formula Amount minus (b) any Availability Reserve.

• Subject to the terms of this Agreement, each UK Borrower may borrow UK Revolver Loans to the extent of the UK Borrowing Base constituted by such UK Borrower’s UK Accounts Formula Amount and UK Inventory Formula Amount plus the UK Borrowing Base constituted by the UK Accounts Formula Amount and UK Inventory Formula Amount of any other UK Borrowing Base Party.

• UK Borrower: as defined in the preamble to this Agreement.UK Borrowing Base: on any date of determination, a Dollar Equivalent amount equal to the lesser of (a) the aggregate UK Revolver Commitments or(b) the UK Accounts Formula Amount, plus the UK Inventory Formula Amount, minus the UK Availability Reserve.

More Definitions of Accounts Formula Amount

Accounts Formula Amount means up to 85% of the Value of Eligible Accounts; provided, however, that such percentage shall be reduced by 1.0% for each whole percentage point (or portion thereof) that the Dilution Percent exceeds 5.0%.

Accounts Formula Amount means 85% of the Value of Eligible Accounts.

Accounts Formula Amount means, at any time of calculation, (i) if prior to the occurrence of the Permanent Accounts Formula Amount Trigger, the Accounts Formula Amount (Deemed), and (ii) if after the occurrence of the Permanent Accounts Formula Amount Trigger, the Accounts Formula Amount (Permanent).

Accounts Formula Amount the Canadian Accounts Formula Amount or the U.S. Accounts Formula Amount, as the context requires.

Accounts Formula Amount means, as of any date of determination, 85% of the dollar amount of all Eligible Accounts.

Accounts Formula Amount means, on any date of determination thereof, an amount equal to the sum of (i) 85% of the net amount of Eligible Accounts on such date, plus (ii) 100% of LC Backed Accounts. As used herein, the phrase “net amount of Eligible Accounts” shall mean the face amount of such Accounts on any date less any and all returns, rebates, discounts (which may, at the Collateral Agent’s option, be calculated on shortest terms), credits, allowances or Taxes (including sales, excise or other taxes) at any time issued, owing, claimed by Account Debtors, granted, outstanding or payable in connection with, or any interest accrued on the amount of, such Accounts at such date.

Accounts Formula Amount means (i) 85% of the Value of Eligible Accounts, plus (ii) 85% of the Value of Eligible Earned-But-Unbilled Accounts, up to, in the case of this clause (ii), an aggregate amount not to exceed $20,000,000.