Net Orderly Liquidation Value Percentage definition

Net Orderly Liquidation Value Percentage means, with respect to Inventory at any time, the quotient (expressed as a percentage) of (a) the Net Orderly Liquidation Value of all Inventory owned by the Borrower and the Guarantors divided by (b) the gross inventory cost of such Inventory, determined on the basis of the then most recently conducted third party appraisal in form and substance, and performed by an independent appraisal firm, reasonably satisfactory to the Administrative Agent.

Net Orderly Liquidation Value Percentage means the orderly liquidation value (net of costs and expenses incurred in connection with liquidation) of Eligible Inventory as a percentage of the lower of cost and market of such Inventory, which percentage shall be determined on a first-in, first-out basis by reference to the most recent third-party appraisal of such Inventory received by the Administrative Agent in accordance with the terms hereof. The Net Orderly Liquidation Value Percentage applicable as of the 2015 Amendment Effective Date shall be 68.4% for the U.S. Borrowing Base, 76.0% for the Canadian Borrowing Base, 75.2% for the Dutch Borrowing Base and 35.6% for the U.K. Borrowing Base.

Net Orderly Liquidation Value Percentage means, the value of Eligible Inventory that is estimated to be recoverable in an orderly liquidation thereof, net of all costs of liquidation thereof, based upon the most recent Inventory Appraisal conducted in accordance with this Agreement and expressed as a percentage of cost of such Eligible Inventory.

Examples of Net Orderly Liquidation Value Percentage in a sentence

• Net Orderly Liquidation Value Percentage - on any date of determination thereof, a fraction the numerator of which shall be the Net Orderly Liquidation Value and the denominator of which shall be the book value of Borrower's Inventory as of the date of the most recent Orderly Liquidation Value Appraisal.

• From and after the date Agent receives and approves the most recent appraisal undertaken pursuant to this Section 3.3, the Net Orderly Liquidation Value Percentage of Borrowers’ Inventory will equal the Net Orderly Liquidation Value Percentage of Borrowers’ Inventory established by the most recent appraisal.

• Notwithstanding anything herein to the contrary, Reserves shall not duplicate eligibility criteria contained in the definition of “Eligible Credit Card Receivable”, “Eligible Other Receivable” or any category of Eligible Inventory and vice versa, or reserves or criteria deducted in computing the cost or market value or Value of any Eligible Receivable or any Eligible Inventory or the Net Orderly Liquidation Value Percentage of any Eligible Inventory and vice versa.

• Inventory Formula Amount - on any date of determination thereof, an amount equal to the lesser of (a) $60,000,000 or (b) the sum of (i) the lesser of (A) 65% of the Value of Eligible Inventory on such date consisting of raw materials, work in process and finished goods and (B) the product of 85% multiplied by the Net Orderly Liquidation Value Percentage multiplied by the Value of Eligible Inventory on such date consisting of raw materials, work in process and finished goods.

• Notwithstanding anything herein to the contrary, Reserves shall not duplicate eligibility criteria contained in the definition of any category of Eligible Receivables or any category of Eligible Inventory and vice versa, or reserves or criteria deducted in computing the cost or market value or Value of any Eligible Receivable or any Eligible Inventory or the Net Orderly Liquidation Value Percentage of any Eligible Inventory and vice versa.

More Definitions of Net Orderly Liquidation Value Percentage

Net Orderly Liquidation Value Percentage means the orderly liquidation value (net of costs and expenses estimated to be incurred in connection with such liquidation) of an Obligor’s Rental Equipment or Service Vehicles that is estimated to be recoverable in an orderly liquidation of such Rental Equipment or Service Vehicles expressed as a percentage of the Net Book Value thereof, such percentage to be as determined from time to time by reference to the most recent Appraisal of Rental Equipment or Service Vehicles received by the Agent in accordance with Section 7.9(b).

Net Orderly Liquidation Value Percentage with respect to Inventory of any Person, the percentage of Net Orderly Liquidation Value with respect to Inventory of such Person identified in the most recent inventory appraisal ordered by the Administrative Agent.

Net Orderly Liquidation Value Percentage means, (a) with respect to Inventory of the US Borrowers at any time, the quotient (expressed as a percentage) of (i) the Net Orderly Liquidation Value of all Inventory owned by the US Borrowers divided by (ii) the gross inventory cost of such Inventory, determined on the basis of the then most recently conducted third party appraisal in form and substance, and performed by an independent appraisal firm, reasonably satisfactory to the US Administrative Agent and (b) with respect to Inventory of the Swiss Guarantor at any time, the quotient (expressed as a percentage) of (i) the Net Orderly Liquidation Value of all Inventory owned by the Swiss Guarantor divided by (ii) the gross inventory cost of such Inventory, determined on the basis of the then most recently conducted third party appraisal in form and substance, and performed by an independent appraisal firm, reasonably satisfactory to the Foreign Administrative Agent.

Net Orderly Liquidation Value Percentage means, at any date of determination and with respect to inventory of Borrower, the percentages of Cost of the Borrowers' Inventory, as determined by an independent appraisal firm acceptable to the Administrative Agent in connection with the most recent inventory appraisal conducted pursuant to Section 6.10(n) hereof, estimated to be derived from the sale and/or other disposition of such Borrowers' Inventory in an orderly liquidation net of all commissions, brokers' fees, legal and other professional fees and expenses and other usual and customary transaction costs associated with such sale or disposition (other than fees, expenses and other costs for which an Availability Reserve is in effect as of the date of calculation of Net Orderly Liquidation Value Percentage).

Net Orderly Liquidation Value Percentage means the orderly liquidation value (net of costs and expenses incurred in connection with liquidation) of Eligible Inventory as a percentage of the lower of cost and market of such Inventory, which percentage shall be

Net Orderly Liquidation Value Percentage. Eligible Inventory" and "Eligible WIP Inventory" will be defined in accordance with the ABL Documentation Principles. The ABL Administrative Agent and the ABL Collateral Agent shall have the right, in accordance with their "reasonable credit judgment" made in good faith, consistent with the ABL Documentation Principles (as defined below), to establish reserves with respect to the Borrowing Base ("Permitted Discretion"). The Borrowing Base will be computed monthly by the Borrowers and a certificate (the "Borrowing Base Certificate") presenting the Borrowers' computation of the Borrowing Base will be delivered to the ABL Administrative Agent and the ABL Collateral Agent as soon as available, but in no event later than the twentieth calendar day, following the end of each month; provided that Borrowing Base Certificates shall be required to be delivered weekly at any time that a Dominion Period (as defined below) exists.

Net Orderly Liquidation Value Percentage means, with respect to Inventory of any Loan Party, the fraction, expressed as a percentage (a) the numerator of which is the amount equal to the orderly liquidation value thereof to be realized at an orderly, negotiated sale, as determined in a manner reasonably acceptable to the Administrative Agent by an appraiser acceptable to the Administrative Agent in the most recent appraisal conducted as set forth in Section 5.11(b), net of all costs of liquidation thereof, and (b) the denominator of which is the lower of the cost (based on first-in, first out) or market value of such Inventory.