Borrower Valuation definition
Borrower Valuation has the meaning set forth in Section 7.5(b) of the Loan Agreement.
Borrower Valuation has the meaning set forth in Section 7.3(b) of the Loan Agreement. “Borrowing Base” means, on any date of determination, the lesser of: (A) the sum of all of the following amounts that have been funded or are to be funded through the succeeding Distribution Date, without duplication (i) the Advances (other than Ongoing Maintenance Advances), plus (ii) one-hundred percent (100%) of the sum of the Ongoing Maintenance Costs, plus (iii) one-hundred percent (100%) of any other Fees and Expense Deposits and other fees and expenses funded and to be funded as approved by the Required Lenders in their sole and absolute discretion, less (iv) the aggregate of all amounts previously paid by the Borrower to the Administrative Agent, for the account of the Lenders, in respect of principal on the Advances and any repayment of principal on the Advances to be paid pursuant to the Priority of Payments on the immediately succeeding Distribution Date; (B) sixty percent (60%) of the Lender Valuation of the Pledged Policies (provided that solely during the period from the Fifth A&R Closing Date through October 31, 2022February 1, 2023 such percentage shall be seventy-eight percent (78%)); (C) forty-five percent (45%) of the aggregate face amount of the Pledged Policies (other than the Excluded Policies); and (D) the Facility Limit.
Borrower Valuation as defined in Section 2.8.