Examples of FILO Amount in a sentence
All Revolving Credit Loans outstanding from time to time up to the FILO Amount shall be deemed to be outstanding FILO Loans for all purposes under this Agreement.
Subject to Section 2.1.5, if an Overadvance exists at any time (including, without limitation, with respect to the U.S. Revolver Loans as the result of a scheduled reduction in the FILO Amount), the Borrower Group owing such Overadvance shall, on the sooner of Agent’s demand or the first Business Day after any Borrower of such Borrower Group has knowledge thereof, repay Revolver Loans in an amount sufficient to reduce Revolver Usage of such Borrower Group to the Borrowing Base of such Borrower Group.
Notwithstanding anything to the contrary contained herein, given that U.S. Borrowers elected to utilize FILO Loans on the Original Closing Date, all U.S. Revolver Loans outstanding from time to time up to the FILO Amount shall be deemed to be outstanding FILO Loans for all purposes under this Agreement.
If on any date of determination, the aggregate principal amount of Revolver Loans outstanding is less than or equal to the aggregate principal amount equal to the FILO Amount on such date, then all Revolver Loans outstanding on such date shall constitute FILO Loans.
All Revolver Loans at any time outstanding under this Agreement, up to an aggregate principal amount equal to the FILO Amount at such time, shall be deemed to be FILO Loans (“FILO Loans”), regardless of whether such Revolver Loans are borrowed, repaid or reborrowed at any time and from time to time.
Notwithstanding anything to the contrary in this Agreement, all Revolving Credit Loans outstanding from and after the First Amendment Date up to the FILO Amount (until the FILO Amount is $0) shall be deemed to be “FILO Loans”.
US FILO Amount: (i) as of any date of measurement during the FILO Period, (a) 5% of the Value of Eligible US Accounts, as set forth on the most recent US Borrowing Base Certificate, plus (b) the lesser of (i) 10% of the Value of Eligible US Inventory as set forth on the most recent US Borrowing Base Certificate; and (ii) 10% of the NOLV Percentage of the Value of Eligible US Inventory as set forth on the most recent US Borrowing Base Certificate; and (ii) after the FILO Period, $0.
For example, if a student enrolled in October 2015 and completed the fall quarter, dropped in the Winter 2016 quarter and returned in the spring 2017 quarter of the following year, the student would have an evaluation prior to the start of the spring 2017 quarter against the next applicable evaluation point for the student .
Notwithstanding anything to the contrary contained herein, (1) if Borrowers elect to utilize any FILO Loans, Borrowers must do so on the earlier of (x) the first Borrowing under this Agreement and (y) the 18 month anniversary of the Closing Date and (2) once a FILO Loan Borrowing has occurred, all Revolver Loans outstanding from time to time up to the FILO Amount shall be deemed to be outstanding FILO Loans for all purposes under this Agreement.
US FILO Amount: as of the Closing Date, (a) 5% of the Value of Eligible US Accounts, on such date, plus (b) the lesser of (i) 10% of the Value of Eligible US Inventory on such date; and (ii) 10% of the NOLV Percentage of the Value of Eligible US Inventory on such date.