ELIGIBLE SECURITIES VALUE definition
ELIGIBLE SECURITIES VALUE means, at any time, the aggregate fair market value (as reasonably determined by the Agent) of the Eligible Securities at that time.
ELIGIBLE SECURITIES VALUE means, with respect to any particular Eligible Securities of any particular issuer:
(a) at any date prior to the date on which the Credit Agreement terminates, the product of (i) the Fair Market Value of such Eligible Securities as at such date, as such Fair Market Value shall be determined by mutual agreement of the Company and the Administrative Agent, multiplied by (ii) the percentage used or to be used by the Administrative Agent in calculating the Eligible Securities Value of such Eligible Securities as at such date, which percentage (A) shall be no greater than 50% and (B) shall be determined by the Administrative Agent in its sole and complete discretion, each such determination by the Administrative Agent to be in each case final and binding on the Company for all purposes of this Agreement; provided, however, that the percentage which shall be so used by the Administrative Agent for the marketable Securities of each of Global Telesystems Group, Inc. and GrandVision shall, as determined by the Administrative Agent on or as of the date hereof, be and remain 50%; and
(b) at any date on or after the date on which the Credit Agreement terminates, the product of (i) the Fair Market Value of such Eligible Securities as at such date, as such Fair Market Value shall be determined by mutual agreement of the Company and Harcourt, multiplied by (ii) the percentage used or to be used by Harcourt in calculating the Eligible Securities Value of such Eligible Securities as at such date, which percentage (A) shall be no greater than 50% and (B) shall be determined by Harcourt in its sole and complete discretion, each such determination by Harcourt to be in each case final and binding on the Company for all purposes of this Agreement; provided, however, that the percentage which shall be so used by Harcourt for the marketable Securities of each of Global Telesystems Group, Inc. and GrandVision shall, as determined by Harcourt on or as of the date hereof, be and remain 50%.
ELIGIBLE SECURITIES VALUE means, with respect to any particular Eligible Securities of any particular issuer:
More Definitions of ELIGIBLE SECURITIES VALUE
ELIGIBLE SECURITIES VALUE. As at any date of determination with respect to any particular Eligible Securities of any particular issuer, the product of (a) the Fair Market Value of such Eligible Securities as at such date, such Fair Market Value to be determined by mutual agreement of the Borrower and the Administrative Agent, and (b) the percentage used or to be used by the Administrative Agent in calculating the Eligible Securities Value of such Eligible Securities as at such date, such percentage to be (i) no greater than fifty percent (50%), and (ii) to be determined by the Administrative Agent in its sole and complete discretion, each such determination by the Administrative Agent to be in each case final and binding on the Borrower for all purposes of this Agreement; PROVIDED, HOWEVER, that the percentage which shall be so used by the Administrative 17 -12- Agent for the marketable Securities of each of Global Telesystems Group, Inc. and GrandVision shall, as determined by the Administrative Agent on or as of the date hereof, be and remain fifty percent (50%).