Advance Value definition

Advance Value. With respect to any Portfolio Asset or Cash amount held by the Issuer, (a) the Market Value of such Portfolio Asset or Cash amount multiplied by (b) the applicable Advance Percentage.

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Advance Value in Section 1.1 is amended to read in its entirety as follows:

Examples of Advance Value in a sentence

If at any time the outstanding principal amount of Advances exceeds, or if at any time any Lender notifies the Borrowers that the aggregate outstanding principal amount of Advances exceeds the Inventory Advance Value, the Borrowers shall cure same in accordance with Section 4.2(b)(ii) hereof.
The Borrowers shall furnish to the Lenders such reports in such forms that the Lenders determine are necessary to track and monitor Eligible Vehicles, Inventory, Motor Vehicles (to the extent included in the calculation of Eligible Vehicle Advance Value) and the Inventory Advance Value.
It shall be a condition precedent to the making of an Advance on a Funding Date that the Borrowers shall have delivered, contemporaneously with furnishing the Notice of Borrowing, to each Lender an Inventory Advance Value Certificate together with sufficient information to enable each Lender to independently calculate the Inventory Advance Value.
The security interests granted to Lenders in the Collateral included on the applicable Inventory Advance Value Certificate are perfected first priority security interests and no claim of ownership or other interest has been asserted which would be a breach of this Section 8.1(g).
Upon the execution of this Amendment No. 4, the Borrower agrees to pay the Banks a fee, in accordance with their respective Commitment Percentage, in the amount of three eighths of one percent (3/8%) of the Advance Value of the Benchmark Apartments and Providence Apartments.
An amount equal to 40% of the value of the Joint Venture Collateral, as determined from time to time by the Banks; provided, however, that the borrowing base availability derived from the Joint Venture Collateral at no time shall exceed 37% of the entire Advance Value then in effect.
This Inventory Advance Value Certificate (“Certificate”) is furnished pursuant to that certain Fourth Amended and Restated Loan and Security Agreement dated October 28, 2011 (the “Agreement”), by and among DriveTime Automotive Group, Inc., DriveTime Sales and Finance Company, LLC, Drive Time Car Sales Company, LLC, DriveTime Ohio Company, LLC, ▇▇▇▇▇ Fargo Bank, N.A., as Agent and Lead Lender, Santander Consumer USA Inc., as Lender, and Manheim Automotive Financial Services, Inc., as Lender.
The security interests granted to Lenders in the Collateral included on the applicable Inventory Advance Value Certificate are perfected first priority security interests and no claim of ownership or other interest has been asserted which would be a breach of this Section 4.1(g).
Agent shall have received a commitment to deliver an ALTA Lenders title insurance policy covering the Eligible Facilities in favor of the Agent, such policy to be in the amount not less than the Assigned Credit Advance Value and to be reasonably satisfactory to the Agent with such customary endorsements and affirmative assurances issued by the title company as a routine matter (each, a “Title Policy”).
Upon the execution of this Amendment No. 3, the Borrower agrees to pay the Banks a fee, in accordance with their respective Commitment Percentage, in the amount of one-half of one percent (1/2%) of the Advance Value of the Joint Venture Collateral.

More Definitions of Advance Value

Advance Value means, as of any date of determination with respect to any Financed Property, the lowest applicable amount set forth in the following chart under the heading “Advance Value,” based on the characteristics of the Financed Property and the number of days elapsed since the initial Acquisition Date of the Advance made with respect thereto: Characteristics of Financed Property/Time Period Since Initial Acquisition Date Advance Value the lesser of: Acquisition Date to and including [***] days following the Acquisition Date (i) [***]% of the Asset Purchase Price for such Eligible Property; or(ii) [***]% of the Property Value for such Eligible Property From the date that is [***] days following the Acquisition Date to and including [***] days following the Acquisition Date (i) [***]% of the Asset Purchase Price for such Eligible Property; or(ii) [***]% of the Property Value for such Eligible Property From the date that is [***] days following the Acquisition Date to and including [***] days following the Acquisition Date (i) [***]% of the Asset Purchase Price for such Eligible Property; or(ii) [***]% of the Property Value for such Eligible Property From and after the date that is 365 days following the Acquisition Date 0% of the Asset Purchase Price for such Eligible Property

Advance Value fifty-five percent (55%) of any individual Eligible Asset’s Appraised Value, provided, however, that, upon Borrower achieving and maintaining Total Asset Value of $150,000,000 or more, the Advance Value will be one hundred percent (100%) of such Eligible Asset’s Appraised Value.

Advance Value sixty-five percent (65%) of any individual Eligible Asset’s Appraised Value; provided, however, that if an individual Eligible Asset is subject to a Purchase Option, the Advance Value will be the lesser of sixty-five percent (65%) of such individual Eligible Asset’s Appraised Value or 100% of net cash purchase price set forth in such Purchase Option; provided, further, that the Advance Value for the proposed Eligible Facility located in Charlottesville, Virginia will be $7,600,000.

Advance Value. The following definition of Dealer Contract Advance Value is amended in its entirety to read: