Advance Rate definition

Advance Rate has the meaning assigned to such term in Section 5.13.

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Advance Rate. A per annum rate equal to the Prime Rate, compounded annually.

Advance Rate shall have the meaning ascribed to such term in the Lead Securitization Servicing Agreement.

Examples of Advance Rate in a sentence

If the context requires, each reference to the reimbursement or payment of an Advance shall be deemed to include, whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate through but excluding the date of payment or reimbursement.
If the context requires, each reference to the reimbursement or payment of an Advance also includes, whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate through but excluding the date of payment or reimbursement.
The Servicer shall be entitled to reimbursement of Advances (with interest at the Advance Rate) made pursuant to the preceding sentence in accordance with Section 3.23.
For the avoidance of doubt, (a) to avoid double-counting of excess concentrations, any Advance Rate reductions set forth under this Section 5.13 shall be without duplication of any other such Advance Rate reductions and (b) to the extent the Borrowing Base is required to be reduced to comply with this Section 5.13, the Borrower shall be permitted to choose the Portfolio Investments to be excluded from the Borrowing Base to effect such reduction.

More Definitions of Advance Rate

Advance Rate. As defined in Section 3.23(d).

Advance Rate means a per annum rate equal to the Prime Rate as published in the "Money Rates" section of The Wall Street Journal from time to time or such other publication as determined by the Trustee in its reasonable discretion.

Advance Rate means, with respect to a Loan Facility, the rate specified in Section 5.C. of the Loan Authorization Agreement for each category of Primary Collateral except for Export-Related General Intangibles and Other Collateral. Unless otherwise set forth in writing by Ex-Im Bank, in no event shall the Advance Rate exceed (i) ninety percent (90%) for Eligible Export-Related Accounts Receivable, (ii) seventy five percent (75%) for Eligible Export-Related Inventory, (iii) seventy percent (70%) for Eligible Export-Related Overseas Accounts Receivable or (iv) sixty percent (60%) for Eligible Export-Related Overseas Inventory and (v) twenty five percent (25%) for Retainage Accounts Receivable.

Advance Rate means 80% or such greater or lesser percentage as Lender may from time to time establish in its sole discretion upon notice to Borrower.

Advance Rate is eighty percent (80.0%), net of any offsets related to each specific Account Debtor, or such other percentage as Bank establishes under Section 2.1.1 of this Agreement.

Advance Rate means, as to any Portfolio Investment and subject to adjustment as provided in Section 5.13(a), (b) and (c), the following percentages with respect to such Portfolio Investment: Portfolio Investment Quoted Unquoted Cash, Cash Equivalents and Short-Term U.S. Government Securities 100 % 0 % Long-Term U.S. Government Securities 95 % 0 % Performing First Lien Bank Loans 85 % 75 % Performing Unitranche Loans 80 % 70 % Performing Second Lien Bank Loans 75 % 65 % Performing Cash Pay High Yield Securities 70 % 60 % Performing Cash Pay Mezzanine Investments 65 % 55 % Performing Non-Cash Pay High Yield Securities 60 % 50 % Performing Non-Cash Pay Mezzanine Investments 55 % 45 % Non-Performing First Lien Bank Loans 45 % 45 % Non-Performing Unitranche Loans 40 % 40 % Non-Performing Second Lien Bank Loans 40 % 35 % Non-Performing High Yield Securities 30 % 30 % Non-Performing Mezzanine Investments 30 % 25 % Performing Common Equity (and zero cost or ▇▇▇▇▇ warrants with performing debt), including Performing Joint Venture Investments 30 % 20 % Non-Performing Common Equity (and zero cost or ▇▇▇▇▇ warrants with non performing debt), including Non-Performing Joint Venture Investments 0 % 0 % Structured Finance Obligations and Finance Leases 0 % 0 %

Advance Rate means a per annum rate equal to the Prime Rate as published in the “Money Rates” section of The Wall Street Journal from time to time. If The Wall Street Journal ceases to publish the “prime rate,” then the Trustee shall select an equivalent publication that publishes such “prime rate”; and if such “prime rate” is no longer generally published or is limited, regulated or administered by a governmental or quasi-governmental body then the Trustee shall select a comparable interest rate index. In either case, such selection shall be made by the Trustee in its reasonable discretion and the Trustee shall notify the Master Servicer and the Special Servicer in writing of its selection.