OLV definition

OLV has the meaning specified in Section 6.1(p).

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OLV means, in respect of any Collateral Asset, a valuation on the basis of a sale for prompt delivery for cash as part of an orderly liquidation of assets, without giving any benefit to contracts associated with such assets.

OLV means the “net orderly liquidation value” determined by the Collateral Manager based upon the most recent Approved Valuation, as such valuation may be subsequently adjusted by the Collateral Manager based on reasonably objective historical performance and actual liquidation value with respect to the Loan Parties’ Inventory, and based upon the most recent Borrowing Base Certificate delivered to the Collateral Manager by Borrower pursuant to Section 5.15(g)(ii).

Examples of OLV in a sentence

• This offer will be available in the EA, EAS, OLV, OVS, MPSA, and WWGP programs.

• In addition, advances on the combined face value of the Term Loan and the Delayed Draw Term Loan shall not exceed seventy-five percent (75%) of the "as improved" OLV of the existing fixed assets being purchased from the Seller plus the planned upgrades as determined by an independent qualified appraiser engaged and approved by Bank at the expense of Borrower, whether or not the Delayed Draw Term Loan actually closes or any future advances are actually made.

• Within 45 days after the Effective Date, the Borrower shall have delivered to the Administrative Agent written appraisals and/or written updates to previously delivered appraisals, in each case, conducted by an industry recognized third party appraiser setting forth, among other things, the OLV of Fixed Assets of all of the Borrower’s and its Subsidiaries’ machinery and equipment which appraisals and updates shall be in form satisfactory to the Administrative Agent in its reasonable discretion.

• The ratio of the sum of the Revolver Usage plus the outstanding principal amount of the Term Loan to the OLV Value shall not exceed (A) 0.6:1.0 during the period from the Restatement Closing Date until the initially-scheduled Maturity Date and (B) 0.5:1.0 at any time thereafter.

• This offer will be available in the EA, EAS, OLV, OVS, MPSA and WWGP programs.

More Definitions of OLV

OLV means, as to any particular asset, the value that is estimated to be recoverable in an orderly liquidation thereof, as determined from time to time by a qualified appraiser selected by the Administrative Agent.

OLV means, with respect to a Borrower's Inventory, the orderly liquidation value of such Inventory, net of all operating costs and fees associated with such liquidation, as determined by one or more appraisers acceptable to Foothill.

OLV means the "Orderly Liquidation Value" (as adjusted from time to time) as set forth in the VRG Appraisal.

OLV means with respect to any Property (a) the orderly liquidation value thereof as established by a written appraisal conducted by an industry recognized third party appraiser acceptable to Administrative Agent, and (b) if the orderly liquidation value as described in the preceding clause (a) is not available, then the book value thereof.

OLV means the “orderly liquidation value” of Eligible Spare Parts Inventory, which shall equal the ASA OLV of all Eligible Spare Parts owned by the Person in question, as reflected in Appraisals conducted from time to time by the Appraiser engaged by Administrative Agent.

OLV and “OLV Ratio” in their entirety.

OLV means, with respect to the Specified Assets, the orderly liquidation value of such asset as determined by Agent by reference to the Appraisal Report.