Class 1A Borrowing Base definition
Class 1A Borrowing Base means, at any time, an amount equal to the sum of (i) the Dollar Equivalent of the amounts in the Principal Collection Subaccount, (ii) the Dollar Equivalent of the amounts in the Trust Account, (iii) the product of (x) the Weighted Average Class 1A Advance Rate (excluding the Sale Settlement Pending Collateral for the Class 1A Loans from the calculation of the Weighted Average Class 1A Advance Rate) as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Class 1A Net Collateral Balance as of such date (excluding the Sale Settlement Pending Collateral for the Class 1A Loans from the calculation of the Aggregate Class 1A Net Collateral Balance) and (iv) the Dollar Equivalent of the aggregate sale price of any Sale Settlement Pending Collateral for the Class 1A Loans.
Class 1A Borrowing Base means, at any time, an amount equal to the sum of (i) the Dollar Equivalent of the amounts in the Principal Collection Subaccount, (ii) the product of (x) the Weighted Average Class 1A Advance Rate (excluding the Sale Settlement Pending Collateral for the Class 1A Loans from the calculation of the Weighted Average Class 1A Advance Rate) as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Class 1A Net Collateral Balance as of such date (excluding the Sale Settlement Pending Collateral for the Class 1A Loans from the calculation of the Aggregate Class 1A Net Collateral Balance) and (iii) the Dollar Equivalent of the aggregate sale price of any Sale Settlement Pending Collateral for the Class 1A Loans.
Class 1A Borrowing Base means, at any time, an amount equal to the sum of (i) the amounts in the Principal Collection Subaccount, (ii) the product of (x) the Weighted Average Class 1A Advance Rate as of such date (excluding any Sale Settlement Pending Collateral from the calculation of the Weighted Average Class 1A Advance Rate), (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Class 1A Net Collateral Balance as of such date, and (iii) the aggregate sale price of any Sale Settlement Pending Collateral for the Class 1A Loans. USActive 53852035.1153852035.14.docx -8-