LTV Threshold definition
Examples of LTV Threshold in a sentence
Borrower shall at all times after the Revolving Credit Period during which the outstanding principal balance of the Loan is less than the Portfolio LTV Threshold cause the Weighted Average FICO Score of the Financed Pool of Eligible Receivables consisting of Eligible A Receivables which have a FICO Score to be equal to or greater than six hundred fifty (650).
The undersigned hereby gives you notice pursuant to Section 2.08(d) of the Credit Agreement of its election to prepay the Term Loans with the Net Proceeds of [(i) an Equity Contribution received by the Borrower and/or (ii) a Disposition of Collateral Shares, in each case,]25 in an aggregate amount sufficient to cause the LTV Ratio as of the date hereof to be equal to or less than the LTV Threshold after giving effect to such prepayment.
Where the LTV as of the relevant LTV Test Date and/or (as the case may be) Additional LTV Test Date (and determined by reference to the relevant Applicable Valuation Report and any Top-Up Valuation Report (if applicable)) exceeds the LTV Threshold as of the relevant LTV Test Date and/or (as the case may be) Additional LTV Test Date, there shall be a prepayment of the Term Loan Facility in accordance with Clause 10.3(a) (Fixed Productive Assets Disposal, Insurance Proceeds and LTV Test).
The Borrower shall be in compliance with the Loan-to-Value Ratio and the Administrative Agent shall have received a duly completed, executed and delivered LTV Certificate certifying that the aggregate Appraised Value of all Portfolio Aircraft immediately after giving effect to the release is sufficient to cause the Loan-to-Value Ratio to be less than or equal to the applicable LTV Threshold.
Amounts of LTV Cash Collateral on deposit in the LTV Securities Account shall be released at the direction of the Borrower if and to the extent at any time such amounts are no longer required to ensure that the Loan-to-Value Ratio is equal to or less than the applicable LTV Threshold.