Acquired Asset Borrowing Base definition
Acquired Asset Borrowing Base the US Acquired Asset Borrowing Base plus the Canadian Acquired Asset Borrowing Base.
Acquired Asset Borrowing Base has the meaning specified in the definition of Borrowing Base.
Acquired Asset Borrowing Base means, at any time of determination, an amount equal to the greater of:
Examples of Acquired Asset Borrowing Base in a sentence
For the avoidance of doubt, prior to the date of closing of any such Permitted Acquisition or permitted Investment, no portion of the Acquired Asset Borrowing Base shall be included in the Borrowing Base for purposes of determining the Line Cap for purposes of a Borrowing.
More Definitions of Acquired Asset Borrowing Base
Acquired Asset Borrowing Base means, as of any date of determination prior to the completion of the Acquired Asset Due Diligence, the amount equal to the greater of: (a) the amount equal to the lesser of: (i) 5% of the amount of the Borrowing Base (after giving effect to the inclusion in the Borrowing Base of the Acquired Eligible Accounts and the Acquired Eligible Inventory), and (ii) the amount equal to the sum of (A) the then effective Borrowing Base advance rate for Eligible Accounts multiplied by the amount of such Acquired Eligible Accounts less the amount of any Dilution Reserve for such Acquired Eligible Accounts and (B) the then effective Borrowing Base advance rate for Eligible Inventory in accordance with clause (b)(i) of the definition of the Borrowing Base multiplied by the applicable value of such Acquired Eligible Inventory (and, after giving effect to the inclusion of such Acquired Eligible Inventory, the amount of such Acquired Eligible Inventory shall be subject to the Inventory Loan Amount); and (b) with respect to Accounts and Inventory acquired pursuant to a Permitted Acquisition within the last 120 days after the date of such Permitted Acquisition, the amount equal to the lesser of: (i) 20% of the amount of the Borrowing Base (after giving effect to the inclusion of the Acquired Eligible Accounts and the Acquired Eligible Inventory), and (ii) the amount equal to the sum of (A) 70% of the “net book value” of Acquired Eligible Accounts less the amount of any Dilution Reserve for such Acquired Eligible Accounts and (B) 50% of the “net book value” of the amount of such Acquired Eligible Inventory (and, after giving effect to the inclusion of such Acquired Eligible Inventory, the amount of such Acquired Eligible Inventory shall be subject to the Inventory Loan Amount). For purposes of this definition, “net book value” means the net book value of the Accounts and Inventory acquired from the seller in a Permitted Acquisition as of the closing date of such Permitted Acquisition according to the accounting principles used in preparation of such seller’s audited financial statements (or with respect to Accounts and Inventory generated by the target after the consummation of such Permitted Acquisition, the net book value of such Accounts and Inventory as determined in accordance with GAAP). For the avoidance of doubt, (1) Acquired Eligible Accounts and Acquired Eligible Inventory shall be included in clause (a) of this definition until the date of the completion of the Acqui...
Acquired Asset Borrowing Base means, as of any date of determination prior to the completion of the Acquired Asset Due Diligence, the amount equal to the greater of:
Acquired Asset Borrowing Base the Tranche A Acquired Asset Borrowing Base and the FILO Acquired Asset Borrowing Base, as applicable.
Acquired Asset Borrowing Base means the US Acquired Asset Borrowing Base plus the Canadian Acquired Asset Borrowing Base.
Acquired Asset Borrowing Base has the meaning specified in the definition of Borrowing Base. “Acquired Indebtedness” means, with respect to any specified Person, (a) Indebtedness of any other Person existing at the time such other Person is merged, consolidated or amalgamated with or into or became a Restricted Subsidiary of such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging, amalgamating or consolidating with or into, or becoming a Restricted Subsidiary of, such specified Person, and (b) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person which Indebtedness exists at the time such asset is acquired. “Additional Lender” means any Person (other than a natural Person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural Person)) that is not an existing Lender and has agreed to provide Incremental Commitments pursuant to Section 2.14. “Administrative Agent” means Bank of America, N.A., in its capacity as administrative agent and collateral agent under any of the Loan Documents, or any successor administrative agent and collateral agent. “Administrative Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify the Administrative Borrower and the Lenders. “Administrative Borrower” means (i) initially, the Initial Borrower, (ii) after the consummation of the Debt Assumption, the Parent Borrower, and (iii) upon notice to the Administrative Agent from the Borrowers, any other Borrower as selected by the Borrowers from time to time to act as the Administrative Borrower. “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. “Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. For the avoidance of doubt, none of the Arranger, the Agents or their respective lending affiliates or any...
Acquired Asset Borrowing Base means the amount that would have been generated by assets acquired by any Borrower Party in an acquisition permitted under Section 8.7(d) which would constitute Eligible Domestic Inventory or Eligible Canadian Inventory but would not otherwise be included in the Borrowing Base until the Administrative Agent’s receipt of a satisfactory field audit and/or appraisal with respect thereto based on the book value thereof (as determined by the Borrower and the Administrative Agent based on reasonably available financial information), and applying eligibility and reserve criteria consistent with those applied to the calculation of the Borrowing Base, until the delivery to the Administrative Agent of a satisfactory field audit and/or appraisal with respect thereto; provided, that if the Administrative Agent has not received a satisfactory field audit and/or appraisal in respect of such Acquired Asset Borrowing Base assets (at the Borrowers’ sole cost and expense) within 90 days of the acquisition thereof (or such longer period as the Administrative Agent may agree in its Permitted Discretion), such Acquired Asset Borrowing Base assets will cease to be eligible for inclusion in the Borrowing Base.