Eligible Asset Availability definition

Eligible Asset Availability means, for each Asset-Based Portfolio Company, the lesser of: (a) (i) 85% of eligible accounts receivable plus (ii) the lesser of (x) 65% of the value of eligible inventory (valued at the lower of cost or market on a first in first out basis) or (y) 85% of NOLV of eligible inventory plus (iii) 80% of the appraised NOLV of M&E, plus (iv) 70% of the appraised FMV of RE minus (iv) any applicable reserves and (b) the aggregate amount of the intercompany debt owed by such Asset-Based Portfolio Company. The aggregate advance on M&E and RE ("Fixed Asset Availability") will be limited to 33% of Combined Eligible Availability. Fixed Asset Availability will reduce in equal quarterly installments over a seven year period.
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Related to Eligible Asset Availability

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Eligible Assets means any assets or any business (or any substantial part thereof) used or useful in the same or a substantially similar line of business as the Borrower and its Subsidiaries were engaged in on the Closing Date (or any reasonable extensions or expansions thereof).

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Eligible Asset An Asset:

  • Fitch Eligible Assets means the assets of the Company set forth in the Fitch Guidelines as eligible for inclusion in calculating the Agency Discounted Value of the Company’s assets in connection with Fitch’s ratings then assigned on the MRP Shares.