Net Recovery Cost Percentage means the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the recovery on the aggregate amount of the Inventory at such time on a “net orderly liquidation value” basis as set forth in the most recent Inventory Appraisal received by Collateral Agent in accordance with Section 9.02, net of liquidation expenses, commissions and other expenses reasonably anticipated in the disposition of such assets, and (b) the denominator of which is the original Cost of the aggregate amount of the Inventory subject to appraisal.
Net Recovery Cost Percentage means the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the recovery on the aggregate amount of the Inventory at such time on a “net orderly liquidation value” basis as set forth in the most recent Inventory Appraisal received by Collateral Agent in accordance with Section 5.6(b), net of operating expenses, liquidation expenses and commissions reasonably anticipated in the disposition of such assets, and (b) the denominator of which is the original Cost of the aggregate amount of the Inventory subject to appraisal.
Net Recovery Cost Percentage means the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the recovery on the aggregate amount of the Inventory or Canadian Inventory, as applicable, at such time on a “net orderly liquidation value” basis as set forth in the most recent Inventory Appraisal received by Collateral Agents in accordance with Section 4.01 or Section 9, net of operating expenses, liquidation expenses and commissions reasonably anticipated in the disposition of such assets, and (b) the denominator of which is the original Cost of the aggregate amount of the Inventory or the Canadian Inventory, as applicable, subject to appraisal.
Examples of Net Recovery Cost Percentage in a sentence
Subject to and upon the terms and conditions contained herein, each Lender severally (and not jointly) agrees to fund its Pro Rata Share of Revolving Loans to Borrower from time to time in amounts requested by Borrower up to the amount equal to ninety percent (90%) of the Net Recovery Cost Percentage multiplied by the Cost of Eligible Inventory or Eligible Letter of Credit Inventory, as applicable, less the amount of any Availability Reserves.
More Definitions of Net Recovery Cost Percentage
Net Recovery Cost Percentage means the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the net recovery on the aggregate amount of the Inventory at such time on an “orderly liquidation value” basis as set forth in the most recent Inventory Appraisal received by Collateral Agent in accordance with Section 5.15(e), such “orderly liquidation value” having taken into consideration operating expenses and liquidation expenses reasonably anticipated in the disposition of such assets, and (b) the denominator of which is the original Cost of the aggregate amount of the Inventory subject to the most recent Inventory Appraisal.
Net Recovery Cost Percentage means the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the
Net Recovery Cost Percentage means the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the median recovery on the aggregate amount of the Inventory at such time on a "going out of business sale" basis as set forth in the most recent acceptable appraisal of Inventory received by Lender in accordance with Section 7.3, or, if applicable, as determined pursuant to the appraisal procedure in accordance with Section 2.1(c) hereof, in either case net of operating expenses, liquidation expenses and commissions, and (b) the denominator of which is the original Cost of the aggregate amount of the Inventory subject to appraisal.
Net Recovery Cost Percentage in Section 1.48 of the Loan Agreement and in any of the Existing Financing Agreements, shall be deemed and each such reference in the Existing Financing Agreements is hereby amended to mean the following: "'Net Recovery Cost Percentage' shall mean the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the median recovery on the aggregate amount of the Inventory at such time on a "going out of business sale" basis as set forth in the most recent acceptable appraisal of Inventory received by Lender in accordance with Section 7.3 hereof, net of operating expenses, liquidation expenses and commissions, and (b) the denominator of which is the original Cost of the aggregate amount of the Inventory subject to appraisal."
Net Recovery Cost Percentage. Prime Rate", "Pro Rata Share", "Required Term Loan Lenders" or "Revolving Loan Limit"( but only to the extent such proposed change in the definition would have the effect of increasing the amount of Revolving Loans available to the Borrowers); and
Net Recovery Cost Percentage means the fraction, expressed as a percentage, (a) the numerator of which is the amount equal to the median net recovery on the aggregate amount of the Inventory at any time other than the Seasonal Period or the amount equal to the peak period median net recovery on the aggregate amount of Inventory at any time during the Seasonal Period, in each case on a "going out of business sale" basis as set forth in the most recent acceptable appraisal of Inventory received by Lender in accordance with Section 7.3, net of operating expenses, liquidation expenses and commissions, and (b) the denominator of which is the original cost of the aggregate amount of the Inventory subject to appraisal.
Net Recovery Cost Percentage means, as of any date, with respect to any period of determination, the percentage of the Cost of Borrowers' Inventory, as determined by the Appraisal Firm, and set forth in the then current appraisal prepared by the Appraisal Firm, which, when multiplied against such Cost, yields the net going out of business value of such Inventory during such period, as determined by the Appraisal Firm.