Asset Based Loan definition

Asset Based Loan means any Loan where (i) the underwriting of such Loan was based primarily on the appraised value of the assets securing such Loan and (ii) advances in respect of such Loan are governed by a borrowing base relating to the assets securing such Loan.

Asset Based Loan means a term loan or revolving loan (or participation thereof) (a) ranking (and required by its terms to remain) (i) first in right of payment (unless, in the case of this clause (i), such loan is a First Lien Last Out Loan, in which case such loan may rank second in right of payment to the related Other Senior Loans) and (ii) secured by valid security interests or Liens in, to or on specified collateral securing the Obligor's obligations under the loan, which Liens are not (and which cannot by their terms become) subordinate in right of Lien priority to other Liens (other than to Liens customarily allowed to be prior in priority to the Liens of a first lien asset-based lender and except that, in the case of this clause (ii), if such loan is a First Lien Last Out Loan, the provisions related to the application of proceeds thereof may require that proceeds of collateral be applied to the related Other Senior Loans prior to the application of such proceeds to such First Lien Last Out Loan) of the Obligor in respect thereof or any guarantor thereof, (b) availability under which (both at the time of the incurrence thereof and thereafter during the term of such loan) is restricted by a "borrowing base" or similar concept and (c) not constituting a Holding Company Loan.

Asset Based Loan means any Collateral Loan where (i) the underwriting of such Collateral Loan was based primarily on the Appraised Value of the assets securing such Collateral Loan (and such Appraised Value shall be updated no less than annually) and (ii) advances with respect to such Collateral Loan are governed by a borrowing base relating to certain assets securing such Collateral Loan.

Examples of Asset Based Loan in a sentence

• The Global Asset Based Loan Facility is subject to a fixed charge coverage ratio covenant if 90% or more of the facility is drawn.

• The Group manages the seasonality of working capital principally by supplementing operating cash flows with drawings under our Global Asset Based Loan facility.

• Global Asset Based Loan Facility and other borrowings – the fair values of the borrowings in issue is based on valuation techniques in which all significant inputs are based on observable market data and represent Level 2 inputs.

• Global Asset Based Loan Facility and other borrowings – the estimated value of fixed interest-bearing deposits is based on discounted cash flows using prevailing money-market interest rates for debts with similar credit risk and remaining maturity and represents Level 2 inputs.

• Our principal funding arrangements include borrowings available under the Group’s Global Asset Based Loan Facility.

• Quarterly Report of the Railway Technical Research Institute 1978, Vol.

• The Global Asset Based Loan Facility is subject to a springing fixed charge coverage ratio covenant.

• Global Asset Based Loan facility and other borrowings – the fair values of the borrowings in issue is based on valuation techniques in which all significant inputs are based on observable market data and represent Level 2 inputs.

• Global Asset Based Loan facility and other borrowings - The estimated value of fixed interest bearing deposits is based on discounted cash flows using prevailing money-market interest rates for debts with similar credit risk and remaining maturity and represents Level 2 inputs.

• The demand for our metal beverage products is strongest during spells of warm weather and therefore demand typically peaks during the summer months, as well as in the period leading up to holidays in December.The Group manages the seasonality of working capital principally by supplementing operating cash flows with drawings under our Global Asset Based Loan Facility.

More Definitions of Asset Based Loan

Asset Based Loan means a term loan or revolving loan (or participation thereof) (a) ranking (and required by its terms to remain) (i) first in right of payment (unless, in the case of this clause (i), such loan is a First Lien Last Out Loan, in which case such loan may rank second in right of payment to NAI-15121569431515895953v1213 -3- the related Other Senior Loans) and (ii) secured by valid security interests or Liens in, to or on specified collateral securing the Obligor’s obligations under the loan, which Liens are not (and which cannot by their terms become) subordinate in right of Lien priority to other Liens (other than to Liens customarily allowed to be prior in priority to the Liens of a first lien asset-based lender and except that, in the case of this clause (ii), if such loan is a First Lien Last Out Loan, the provisions related to the application of proceeds thereof may require that proceeds of collateral be applied to the related Other Senior Loans prior to the application of such proceeds to such First Lien Last Out Loan) of the Obligor in respect thereof or any guarantor thereof, (b) availability under which (both at the time of the incurrence thereof and thereafter during the term of such loan) is restricted by a “borrowing base” or similar concept and (c) not constituting a Holding Company Loan.

Asset Based Loan means a Collateral Obligation underwritten on the basis of the market value or overcollateralization of specific collateral, as determined by the Calculation Agent in its discretion.

Asset Based Loan. Any Loan that (i) is secured by a security interest in the related Obligor’s accounts receivable, inventory or equipment, and provides the related Obligor with the option to receive additional borrowings thereunder based on the value of its eligible accounts receivable or inventory as of each month multiplied by an advance rate, (ii) is designated by the Servicer as an “Asset Based Loan” in accordance with the Credit and Collection Policy and (iii) is secured by (x) a perfected first priority security interest (subject to Permitted Liens) (directly or via an intercreditor agreement on terms satisfactory to the Administrative Agent) in any proceeds received from the related Obligor with respect to such Obligor’s accounts receivable, inventory, cash and any general intangibles related to such accounts receivable and inventory and (y) a first or second priority security interest with respect to the proceeds of any other assets of any such Obligor.

Asset Based Loan means the line of credit established under this Loan Agreement in Article III.

Asset Based Loan means a loan to an FCC Borrower (a) secured by a first position perfected Lien on substantially all of the assets of the FCC Borrower and all other assets which, in accordance with the applicable underwriting approvals or loan documentation, were intended to serve as collateral for such FCC Loan and (b) the amount of which is based upon and limited by (i) a borrowing base, evidenced by a borrowing base certificate which the FCC Borrower is required to submit not less frequently than monthly, setting forth advance rates for eligible accounts receivable and/or eligible inventory or (ii) an appraisal or other valuation acceptable to the Agent for equipment and/or real property securing the underlying FCC Loan.

Asset Based Loan means a loan that, in the reasonable opinion of the Investment Advisor, is secured on other assets or pool of assets such as cars, aircraft, boats, equipment, leases or other loans (loan-on-loan);