ADVANCE FACTOR definition
ADVANCE FACTOR. With respect to each Loan (a) as of the related Transfer Date, the lesser of (x) 85% or, to the extent that the Note Principal Balance as of such day (after giving effect to the sale of such Loan to the Trust) is greater than $300,000,000, 80% for each Loan (as selected by the Initial Noteholder), the inclusion of which as an asset of the Trust results in the Note Principal Balance as of such day exceeding $300,000,000 (or such other lesser percentage as agreed in writing by the Issuer and Initial Noteholder as the Advance Factor with respect to such Loan) and (y) the Maximum Advance Factor with respect to such Loan and (b) thereafter, the lesser of (x) the Maximum Advance Factor with respect to such Loan and (y) to the extent that the Note Principal Balance as of such day is greater than $300,000,000, 80% for each Loan (as selected by the Initial Noteholder), the inclusion of which as an asset of the Trust results in the Note Principal Balance as of such day exceeding $300,000,000. Notwithstanding the foregoing, with respect to any date of determination, if the Corporate FCCR Percentage is greater than or equal to 25% as of such date, the Advance Factor for any Loan having a Corporate Fixed Charge Coverage Ratio less than or equal to 1.15 will be determined by the Initial Noteholder in its sole discretion, provided that such Advance Factor shall not be less than 50%.
ADVANCE FACTOR. With respect to each Loan, 85%. The Loan Originator and Initial Class A Certificateholder may agree to such lower Advance Factor as is specified in a supplemental writing with respect to a Loan.
ADVANCE FACTOR. With respect to each Loan, (a) as of the related Transfer Date, the lesser of (x) 85% (or such other percentage specified in writing by the Issuer as the Advance Factor with respect to such Loan) and (y) the Maximum Advance Factor with respect to such Loan and (b) thereafter, the Maximum Advance Factor with respect to such Loan.
More Definitions of ADVANCE FACTOR
ADVANCE FACTOR means, as of any date of determination, -------------- an amount equal to one minus the greater of (x) 18% and (y) the "Loss Reserve Ratio" (as such term is defined in the Indenture Supplement for the Series 2001-A Notes).