Definition of PP&E Component

  1. PP&E Component means the aggregate amount of the Canadian Borrowing Base, the Dutch Borrowing Base, the German Borrowing Base and the U.K. Borrowing Base that is attributable to Eligible Machinery and Equipment and Eligible Real Property; provided, however, that the PP&E Component of the Global Borrowing Base shall not constitute more than the lesser of (x) 20.0% of the Total Revolving Facility Commitments and (y) 20.0% of the Global Borrowing Base (calculated prior to giving effect to such limitation).

Examples of PP&E Component in a sentence

  1. Each Grantor will give the Administrative Agent notice of its acquisition of any vehicle covered by a certificate of title that constitutes a portion of the PP&E Component and deliver to the Administrative Agent, upon request, the original of the vehicle title certificate with respect to any such vehicle and provide and/or file all other documents or instruments necessary to have the Lien of the Administrative Agent noted on any such certificate or with the appropriate state office.
  2. 50,000,000 minus (b) the PP&E Component included in any other Borrowers Borrowing Base.

Definition of PP&E Component in Agreement

PP&E Component means the aggregate amount of the Canadian Borrowing Base, the Dutch Borrowing Base, the German Borrowing Base and the U.K. Borrowing Base that is attributable to Eligible Machinery and Equipment and Eligible Real Property; provided, however, that the PP&E Component of the Global Borrowing Base shall not constitute more than the lesser of (x) 20.0% of the Total Revolving Facility Commitments and (y) 20.0% of the Global Borrowing Base (calculated prior to giving effect to such limitation).


Definition of PP&E Component in Revolving Credit and Guaranty Agreement

PP&E Component means, at the time of any determination, an amount equal to the sum of (i) the lesser of (A) 70% of the fair market value of the Borrowers' Eligible Real Property as of the Effective Date and (B) $12,500,000 (with the lesser of (A) and (B) to amortize monthly on a straight-line basis to zero over ten years) plus (ii) the lesser of (A) 80% of the Net Orderly Liquidation Value of the Borrowers' Eligible Equipment as of the Effective Date and (B) $12,500,000 (with the lesser of (A) and (B) to amortize monthly on a straight-line basis to zero over five years).


Definition of PP&E Component in Amended and Restated

PP&E Component means, (a) with respect to the European Borrowers, the lesser of (i) 85% of the remainder of (A) the Net Orderly Liquidation Value of Eligible Equipment of the European Borrowers on the Closing Date (or the most recent date that an appraisal on such Eligible Equipment was conducted by the Applicable Agent or its designee after the Closing Date), which is $5,184,900.21 as of the Closing Date, minus (B) the cumulative amount of amortization of the Eligible Equipment of the European Borrowers after the Closing Date determined monthly on a seven year straight line amortization basis or (ii) $6,000,000 and (b) with respect to the US Borrowers, the lesser of (i) 85% of the remainder of (A) the Net Orderly Liquidation Value of Eligible Equipment of the US Borrowers, minus (B) the cumulative amount of amortization of the Eligible Equipment of the US Borrowers after the Closing Date (or the most recent date that an appraisal on such Eligible Equipment was conducted by the Applicable Agent or its designee after the Closing Date) determined monthly on a five year or seven year straight line amortization basis to be determined by Administrative Agent in its Permitted Discretion after consultation with the Lead Borrower or (ii) $9,000,000.