Effective LTV definition

Effective LTV means, with respect to any Asset Based Loan as of any date of determination, (i) the Principal Balance of such Collateral Obligation divided by (ii) the Appraised Value of such Collateral Obligation as of such date of determination.

Effective LTV means, with respect to any Collateral Loan as of the date of acquisition by the Borrower, as determined by the Service Provider pursuant to its underwriting standards and procedures, a ratio of (a) the excess of the total indebtedness of the related Obligor for borrowed money, minus cash on the balance sheet of such Obligor divided by (b) the Enterprise Value of the related Obligor.

Effective LTV means, with respect to any Eligible Collateral Obligation as of its origination date, the meaning of “LTV” or any comparable definition in the Underlying Instruments for such Eligible Collateral Obligation. In case that “Effective LTV” or such comparable definition is not defined in such Underlying Instruments, a ratio of (i) the total indebtedness of the related Obligor that ranks senior to or pari passu with such Eligible Collateral Obligation divided by (ii) the Enterprise Value of the related Obligor.

Examples of Effective LTV in a sentence

• Effective LTV is defined as the following: original loan balance less amount of the pledge account divided by the lesser of the appraised value or sales price of the property.

• Effective LTV is defined as the following: original loan balance less amount of the pledge account divided by the less of the appraised values or sales price of the property.

• On the other hand, hydraulic civil engineer Bernado Mendez and engineer Roberto Méndez, member of SPIA (Engineers and Architects Association of Panama) in “A bad business for Panama” (June, 2006) says that the hypothetical route through the Arctic will be important in a few years due to the influence of global warming.

• COLLATERAL OBLIGATION INFORMATION Obligor Name Domicile Eligible Currency Obligor EBITDA (including cash and non-cash adjustments) Maturity Date Interest coupon/ spread above LIBORTerm SOFR Principal Balance Pledged Amount1 Purchase Price Original Leverage Multiple Original Effective LTV Maximum Effective LTV (before triggering a Revaluation Event) 1 Defined as the outstanding principal balance of such Collateral Obligation prior to any adjustments.

• Effective LTV Example Standard LoanPledged Asset LoanPurchase Price:$300,000$300,000“Normal” Down Payment @ 20%:$60,000-Loan Amount$240,000$300,000Pledged Assets-$60,000LTV80%100%Effective LTV80%80%Initial Balance of Pledge Account Due to Overcollateralization $78,000 Finally, footnote 145 of the Proposed Rules acknowledges the fact that many credit worthy homebuyers seeking to purchase a home will likely not have the 20 percent down payment required for a QRM.

• For loans with MI, effective LTV is as follows: OLTV MI Coverage Effective LTV 80.01 - 85 12 71.9 - 74.8 85.01 - 90 25 63.8 - 67.5 90.01 - 95 30 63.1 - 66.5 95.01 - 100 35 64.8 - 65.0 Disclaimer: This material has been prepared by the Fixed Income Trading/Sales Department and is not the product of the Fixed Income Research Department.

• While the Actual LTV is often at or near 100%, the Effective LTV is generally 80% or, more often, lower.

• Effective LTV is defined as the following: loan balance less amount of the pledge account divided by the less of the appraised values or sales price of the property.

• The borrowers who tend to have enough net worth in the form of securities or bonds to pledge the necessary amount for the required equity in the home purchase or refinance tend to be high net worth individuals and, as a result, have a significantly better credit performance history than borrowers with an actual LTV comparable to the Pledged Asset Loan‟s Effective LTV.

More Definitions of Effective LTV

Effective LTV means, with respect to any Asset Based Loan as of any date of determination, the result, as expressed as a percentage, of (i) the Principal Balance of such Collateral Obligation divided by (ii) the Appraised Value of such Collateral Obligation as of such date of determination.

Effective LTV means, as of any date of determination, the result, expressed as a percentage of (i) for any First Lien Loan, First Lien Last Out Loan, Senior Secured Bond, Recurring Revenue Loan (other than a Qualified Recurring Revenue Loan) or Qualified First Lien Loan, the Senior Net Leverage Ratio divided by the Enterprise Value thereof; (ii) for any Second Lien Loan, the Total Net Leverage Ratio divided by the Enterprise Value thereof; or (iii) for any Qualified Recurring Revenue Loan, the Gross Debt-to-Recurring-Revenue Ratio divided by the Enterprise Value thereof.

Effective LTV. “Enterprise Value”, “Cash Interest Coverage Ratio”, “Unrestricted Cash”, “Permitted Liens”, “Interest Coverage Ratio” or any comparable definitions, provisions or related financial covenants or collateral quality compliance tests, as applicable, in the related Underlying Instrument or (ii) any term or provision of such Underlying Instrument referenced in or utilized in the calculation of any of the foregoing or any comparable term (or, in each case, any component thereof), including without limitation as any such relates to financial covenants, in such Underlying Instrument, in each case (with respect to clauses (i) and (ii) above), in a manner that, in the sole discretion of the Administrative Agent, is materially adverse to any Secured Party; provided that, in connection with any Revenue Recognition Implementation or any Operating Lease Implementation, the Administrative Agent may in its sole discretion retroactively adjust any of the foregoing definitions, including any comparable definitions or other related terms and provisions or methods of calculation, as applicable, for any Collateral Obligation as determined on the applicable Cut‑Off Date;

Effective LTV means, with respect to any Additional Collateral Loan, a fraction, expressed as a percentage, the numerator of which is the original outstanding principal amount of the related Additional Collateral Loan, less the Original Additional Collateral Requirement, if any, and the denominator of which is the Appraised Value of the related Mortgaged Property at such time, or if the Loan was originated as a purchase-money loan, the purchase price of the Mortgaged Property paid by Seller if such purchase price is less than such Appraised Value.

Effective LTV means, as of any date of determination, the result, expressed as a percentage of the Senior Net Leverage Ratio divided by the Enterprise Value Multiple thereof, for any First Lien Loan or Qualified First Lien Loan.

Effective LTV means, with respect to any Eligible Collateral Obligation as of its origination date, the meaning of “LTV” or any comparable definition in the Underlying Instruments for such Eligible Collateral Obligation, in any case, subject to the loan amount being limited to all tranches of indebtedness that are senior in right of payment to, or pari passu in right of payment with, such Eligible Collateral Obligation. In case that “Effective LTV” or such comparable definition is not defined in such Underlying Instruments, a ratio of (i) the indebtedness of the related Obligor that is senior in right of payment to, or pari passu in right of payment with, such Eligible Collateral Obligation divided by (ii) the Enterprise Value of the related Obligor.