Examples of Effective Advance Rate in a sentence
The term "Effective Advance Rate" shall mean the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Agent hereunder.
The Effective Advance Rate shall at no time exceed the "MAXIMUM EFFECTIVE ADVANCE RATE", DETERMINED AS FOLLOWS: (i) 95%; or (ii) SUCH HIGHER RATE AS MAY BE AGREED TO BY TFC IN WRITING IN ITS SOLE AND ABSOLUTE DISCRETION PROVIDED, HOWEVER, THAT THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF THE REVOLVING LOAN COMPONENT DIVIDED BY THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF ALL ELIGIBLE NOTES RECEIVABLE PLEDGED TO AGENT HEREUNDER WILL NOT EXCEED 75%.
Notwithstanding anything herein to the contrary, the total aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Agent shall not exceed the Maximum Effective Advance Rate, as such term is defined herein.
The Effective Advance Rate shall at no time exceed 95% (the "Maximum Effective Advance Rate").
As a condition to such consent, Agent may require that all proceeds of such financing be applied in repayment of the Loan as provided in Section 2.4 hereof so as to reduce the Effective Advance Rate, and may require advances to be funded from the Revolving Loan Component prior to advances from such other financing.