NRLV definition
NRLV. The net recovery value (liquidation value) of Inventory expressed as a percentage of the cost of such Inventory, as determined by the Lender in its discretion based upon the most recent Inventory appraisal available to the Lender conducted by an appraiser reasonably acceptable to the Lender.
NRLV means at any time of determination thereof, the ratio, expressed as a percentage, of the net retail liquidation value of Borrowers’ Inventory divided by the retail value of such Inventory, all as set forth in the most recent appraisal delivered to, and approved by Agent.
NRLV means the net appraised retail liquidation value of the Borrowers’ Inventory (expressed as a percentage of the Cost of such Inventory) as determined from time to time by an independent appraiser engaged by the Administrative Agent.
Examples of NRLV in a sentence
The Cost of Eligible Inventory (net of Inventory Reserves) multiplied by the Inventory Advance Rate, not to exceed 85% of the NRLV.
On or before December 31, 2004, the Lender shall have received an appraisal of the NRLV of the Borrower's Inventory in form and substance acceptable to the Lender, in the Lender's sole and exclusive discretion.
More Definitions of NRLV
NRLV. The product of (a) the Cost of Eligible Inventory (net of Inventory Reserves) multiplied by (b) the NRLV Percentage. ("NRLV" refers to "net retail liquidation value").
NRLV. The product of (a) the Cost of Eligible Inventory (net of Inventory Reserves) MULTIPLIED by (b) the NRLV Percentage. ("NRLV" REFERS TO "NET RETAIL LIQUIDATION VALUE").
NRLV. Required Availability Reserve," and "Revolving Loan Borrowing Base" are hereby added to Section 1.1 of the Agreement to read as follows: ACCOMMODATION FACILITY. AS DEFINED IN SECTION 2.12. ACCOMMODATION FACILITY COMMITMENT AMOUNT. FIFTEEN MILLION DOLLARS ($15,000,000.00). ACCOMMODATION BANK. LASALLE AND BACK BAY AND ANY REPLACEMENT BANK PURSUANT TO SECTION 26 . ACCOUNTS PAYABLE. AS OF ANY DATE OF DETERMINATION, ALL ACCOUNTS PAYABLE RECORDED ON THE BOOKS AND RECORDS OF THE BORROWER IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, AND IN ACCORDANCE WITH THE BORROWER'S HISTORICAL PRACTICES. APPRAISED (GOB) PERCENTAGE OF ELIGIBLE INVENTORIES. THE FOLLOWING SPECIFIED PERCENTAGES DURING THE CORRESPONDING DESIGNATED PERIODS, BUT IN NO EVENT GREATER THAN 100% OF THE COST OF THE BORROWER'S ELIGIBLE INVENTORY MULTIPLIED BY THE NRLV OF ELIGIBLE INVENTORY: PERIOD PERCENTAGE ----------------------------------- ---------- APRIL, 2005 65.0% MAY, 2005 65.0% JUNE, 2005 64.0% JULY, 2005 63.5% AUGUST, 2005 63.5% SEPTEMBER 1, 2005-NOVEMBER 30, 2005 65.0% DECEMBER 1, 2005-DECEMBER 15, 2005 65.0% DECEMBER 16, 2005-JANUARY 31, 2006 60.0% FEBRUARY 1, 2006-JULY 31, 2006 65.0% EFFECTIVE PERCENTAGE. THE FOLLOWING SPECIFIED PERCENTAGES DURING THE CORRESPONDING DESIGNATED PERIODS: PERIOD PERCENTAGE ------------------------------------------- ---------- APRIL 1, 2005 THROUGH DECEMBER 19, 2005 100% DECEMBER 20, 2005 THROUGH DECEMBER 30, 2005 90% DECEMBER 31, 2005 AND THEREAFTER 88% ELIGIBLE CREDIT CARD RECEIVABLES. ACCOUNTS RECEIVABLE DUE TO THE BORROWER ON A NON RECOURSE BASIS FROM VISA, MASTERCARD, AMERICAN EXPRESS CO., DISCOVERCARD, DINERS CLUB, AND OTHER MAJOR CREDIT CARD PROCESSORS, OR FROM DEBIT CARD AND TELECHECK, IN EACH CASE ACCEPTABLE TO THE ADMINISTRATIVE AGENT, AS ARISE IN THE ORDINARY COURSE OF BUSINESS, WHICH HAVE BEEN EARNED BY PERFORMANCE AND ARE DEEMED BY THE ADMINISTRATIVE AGENT IN ITS DISCRETION TO BE ELIGIBLE FOR INCLUSION IN THE CALCULATION OF THE BORROWING BASE AND THE REVOLVING LOAN BORROWING BASE. WITHOUT LIMITING THE FOREGOING, NONE OF THE FOLLOWING SHALL BE DEEMED TO BE ELIGIBLE CREDIT CARD RECEIVABLES:
NRLV. Means the net recovery value (liquidation value) of Inventory expressed as a percentage of the cost of such Inventory, as determined by the Agent in its discretion based upon the most recent Inventory appraisal available to the Agent conducted by an appraiser reasonably acceptable to the Agent.
NRLV refers to "net retail liquidation value").
NRLV means that percentage, as determined by the Administrative Agent and the Managing Agents from the then most recent appraisal of the Borrower’s inventory undertaken at the request of the Agents, reflecting the estimate of the net recovery on the Borrower’s Inventory in the event of an in-store liquidation of that inventory.