Inventory Formula Amount definition

Inventory Formula Amount means, on any date of determination for Eligible Inventory, the lesser of (i) 65% of the Value of the Loan Parties’ Eligible Inventory; and (ii) 85% of the sum of the Net Orderly Liquidation Values of the Eligible Inventory by category.

Inventory Formula Amount the lesser of (a) 65% of the Value of Eligible Inventory and (b) 85% of the NOLV Percentage of Eligible Inventory, provided that the amount in this clause (b) shall not exceed 25% of the Borrowing Base.

Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

Examples of Inventory Formula Amount in a sentence

• Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate amount of Revolver Commitments, minus the LC Reserve, minus the Availability Block; or (b) the sum of the Accounts Formula Amount, plus the Inventory Formula Amount, minus the Availability Reserve.

• Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate Revolver Commitments; or (b) the sum of the Accounts Formula Amount, plus the Inventory Formula Amount, minus the Availability Reserve.

• Borrowing Base - on any date of determination thereof, an amount equal to the lesser of: (a) the aggregate amount of the Revolver Commitments on such date minus the LC Obligations on such date, or (b) an amount equal to (i) the sum of the Accounts Formula Amount plus the Inventory Formula Amount on such date minus (ii) the Availability Reserve on such date.

• U.K. Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the result of: (i) the Maximum U.K. Facility Amount, minus (ii) the U.K. LC Reserve, minus (iii) the U.K. Top Golf Reserve; or (b) the result of: (i) the U.K. Accounts Formula Amount, plus (ii) the U.K. Inventory Formula Amount, plus (iii) 100% of the amount of U.K. Pledged Cash, minus (iv) the U.K. Availability Reserve.

• Dutch Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate Dutch Revolver Commitments; or (b) the sum of the Dutch Accounts Formula Amount, plus the Dutch Inventory Formula Amount, minus the Dutch Availability Reserve; provided, that at no time shall the amount calculated hereunder exceed 30% of the Global Borrowing Base (calculated after giving effect to such limitation).

More Definitions of Inventory Formula Amount

Inventory Formula Amount the lesser of (i) 70% of the Value of Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory. Inventory Reserve: reserves established by Agent to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks. Investment: an Acquisition; an acquisition of record or beneficial ownership of any Equity Interests of a Person; or an advance or capital contribution to or other investment in a Person.

Inventory Formula Amount means the lesser of (a) 70% of the value (calculated at the lower of cost or market on a basis consistent with Borrowers’ historical accounting practices) of Eligible Inventory, and (b) 87.5% times the most recently determined Net Liquidation Percentage times the value (calculated at the lower of cost or market on a basis consistent with Borrowers’ historical accounting practices) of Borrowers’ Appraised Inventory; provided, however, there will be excluded from the calculation of Inventory Formula Amount under clause (a) or (b) above the value (calculated at the lower of cost or market on a basis consistent with Borrowers’ historical accounting practices) of Eligible Offsite Inventory in excess of 5% of the Revolver Commitments at any time and the value (calculated at the lower of cost or market on a basis consistent with Borrowers’ historical accounting practices) of Eligible In-Transit Inventory in excess of 10% of the Borrowing Base at any time. Subject to Agent’s right to apply and revise eligibility criteria for Eligible Inventory, Eligible Offsite Inventory, and/or Eligible In-Transit Inventory, in each case, in its Permitted Discretion in accordance with the terms of the Agreement, the Inventory Formula Amount shall be determined by reference to the Borrowing Base Certificate most recently delivered to Agent.

Inventory Formula Amount means, on any date of determination thereof, an amount equal to the percentage set forth in Item 6(b) of the Terms Schedule of the Value or NOLV (as applicable under Item 6 of the Terms Schedule) of Eligible Inventory on such date.”

Inventory Formula Amount the lesser of:

Inventory Formula Amount as of any date of determination, the sum of:

Inventory Formula Amount the lesser of (a) $90,000,000 or (b) the sum of (X) the lesser of (i) 70% of the Value of Eligible Inventory; and (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory; plus (Y) the lesser of (i) 70% of the Value of Eligible In-Transit Inventory; and (ii) 85% of the NOLV Percentage of the Value of Eligible In-Transit Inventory.

Inventory Formula Amount the lesser of (i) 33.33% of the Revolver Commitments then in effect; or (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory.