Definition of PP&E Amount

  1. PP&E Amount means, as of any date, the net book value as of such date of all Collateral of a Loan Party subject to a first priority perfected Lien in favor of the Administrative Agent (for the benefit of the Holders of Secured Obligations) that is not shared equally and ratably with any other creditor, consisting of real property and equipment, determined in accordance with generally accepted accounting principles as in effect in the United States of America from time to time, but excluding any portion of the PP&E Amount that constitutes Restricted Collateral.

Examples of PP&E Amount in a sentence

  1. PP&E Amount means, as of any date, the net book value as of such date of all Eligible Collateral consisting of Mortgaged Property and equipment, determined in accordance with GAAP; provided that the portion of the PP&E Amount attributable to all such Collateral that constitutes Restricted Property shall be the lesser of (a) the net book value thereof as of such date and (b) the Lien Basket Amount as of such date.

Definition of PP&E Amount in Credit Agreement

PP&E Amount means, as of any date, the net book value as of such date of all Collateral of a Loan Party subject to a first priority perfected Lien in favor of the Administrative Agent (for the benefit of the Holders of Secured Obligations) that is not shared equally and ratably with any other creditor, consisting of real property and equipment, determined in accordance with generally accepted accounting principles as in effect in the United States of America from time to time, but excluding any portion of the PP&E Amount that constitutes Restricted Collateral.