M&E Advance Rate means 85%.”
M&E Advance Rate means 85%.
M&E Advance Rate means 85%, which amount shall be reduced to 82% on October 1, 2013 and shall continue to be reduced by an additional 3 percentage points on the first day of each calendar quarter thereafter; provided, that, such percentage shall be reset to 85% on the 2015 Reset Date and shall thereafter be reduced by 3 percentage points on the first day of each calendar quarter commencing with the first such date following the 2015 Reset Date.
More Definitions of M&E Advance Rate
M&E Advance Rate means (a) for the period commencing as of the Closing Date and as of date of each M&E Appraisal thereafter and through but excluding the first day of the first month following such date, 85%; (b) as of the first day of the first month commencing after the Closing Date or the date of such M&E Appraisal, as the case may be, 83.75%; and (c) as of the first day of each month thereafter, the M&E Advance Rate in effect immediately prior to such date, less 1.25%.
M&E Advance Rate set forth in Schedule 1.1 to the Credit Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following:
M&E Advance Rate means, 4545.0 %; provided that such percentage shall be reduced by 0.50% on the last day of each calendar month commencing January 31, 2022 through the Maturity Date; provided, further that such percentage shall be reduced by 3.00% per $1,000,000.00 pay down of the principal balance of the Term Loans (prorated for pay downs of less than $1,000,000.00), including all prepayments of principal and scheduled amortization payments pursuant to Sections 2.05 and 2.07 (other than in connection with the South Gate Disposition).2.07.
M&E Advance Rate means, 45%; provided that such percentage shall be reduced by 3.00% per $1,000,000.00 pay down of the principal balance of the Term Loans (prorated for pay downs of less than $1,000,000.00), including all prepayments of principal and scheduled amortization payments pursuant to Sections 2.05 and 2.07 (other than in connection with the South Gate Disposition).