Release Value definition

Release Value means the present value assigned by the Agent to any property included in the Oil and Gas Properties to be sold by Borrower, such value to be determined by the Required Banks upon receipt of notice of a proposed disposition pursuant to paragraph 4 and calculated, in accordance with the standards set forth herein for the Banks' determinations of the Aggregate Borrowing Base, as a percentage of the total amount determined by the Banks pursuant to paragraph 5(a)(ii) in effect at the time of the Release Value determination, such percentage to be equal to the proportionate value assigned to such property by the Banks in the total paragraph 5(a)(ii) amount; provided, however, that if at the time of the Release Value determination there is any Excess Debt outstanding (as determined by the Agent pursuant to paragraph 6) or there would be Excess Debt as the result of the proposed disposition, then the Release Value shall be an amount determined by the Agent in its sole discretion, but in any event not to exceed the amount necessary to eliminate any Excess Debt then existing or arising after taking into account the sale of such property.
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Release Value as used herein refers to the fifteen (15) day volume weighted average trading price of Cardium common stock as of the date that Cardium provides notice to SourceOne of the designation of a Joint Product.
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Release Value means for each asset initially included in the Borrowing Base, the value ascribed to such asset on Schedule 1.6 or Schedule 1.7 attached hereto and for Mortgaged Properties added to the Borrowing Base after the date hereof in accordance with Section 1.6, the release value ascribed to such asset by the Agent (and disclosed in writing to Mirant) upon its inclusion in the Borrowing Base in accordance with Section 1.6.
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Examples of Release Value in a sentence

  • Upon receipt by an Obligor of any Cash Proceeds from any Replacement Secured Financing, the Borrower shall prepay the Loan from the proceeds thereof in the manner provided below in an aggregate amount equal to the Collateral Release Value for each item or category (as applicable) of Collateral subject to such Replacement Secured Financing.

  • Rule 2.1 shall be deleted and replaced as follows: The Board may, during a Grant Period, in its discretion, grant Phantom Awards in the form of a right to receive contingent on the exercise of the Phantom Award a cash payment equal to the Release Value of a maximum number of Phantom Shares determined by the Board at the Date of Grant, to any Eligible Employees selected by the Board.

  • Upon receipt by an Obligor of any Cash Proceeds from any Future Issuance constituting a Replacement Secured Financing, the Borrower shall prepay the Loan from the proceeds thereof in the manner provided below in an aggregate amount equal to the Collateral Release Value for each item or category (as applicable) of Collateral subject to such Replacement Secured Financing.

  • Dividends, if declared, must be declared and paid with respect to all series of Preferred Stock contemporaneously, and if less than full dividends are declared, the same percentage of the dividend rate will be payable to each series of Preferred Stock.

  • Such prepayments shall be in an amount equal to the amount by which the aggregate outstanding principal amount under the Notes (including the face amount of any letters of credit) exceeds the amount determined by the Banks pursuant to paragraph 5(a)(ii) then in effect after giving effect to such asset sale, but not to exceed the Release Value.

  • If an amount proposed for settlement or sale of an Account is in excess of the Permitted Release Value established for such Account, the Servicer may proceed without the consent of the Lender to compromise, sell, or settle such Account for such higher amount.

  • The definition of Collateral Release Value is hereby amended by adding the following proviso after the parenthetical at the end of the definition: “; provided that with respect to any Specified Transaction, the Collateral Release Value is the minimum amount necessary to satisfy the applicable Specified Transaction Prepayment Condition with respect to such Specified Transaction”.

  • The Borrower shall not, and the Servicer shall be instructed not to, compromise, sell or settle any Account or other Asset for an amount less than ten percent of the outstanding principal balance together with accrued and unpaid interest of an Account without first obtaining the prior written consent of the Lender (herein, with respect to each Account, the "Permitted Release Value").

  • Sales of any Oil and Gas Properties shall result in an automatic reduction of the amount determined by the Agent pursuant to paragraph 5(a)(ii) equal to the Release Value for such assets sold and, to the extent required under the provisions of paragraph 5, in the Aggregate Borrowing Base.

  • If an amount proposed for compromise, settlement, sale (other than a Permitted Sale of a Bankrupt Account) or acceptance of a Re-Write Note with respect to any Asset is in excess of the Permitted Release Value established for such Asset, the Servicer may proceed without the consent of the Lender to compromise, sell, settle or accept a Re-Write Note for such Asset for such higher amount.

Related to Release Value

  • Release Amount has the meaning set forth in Section 4.3(f).

  • Base Value With respect to any Mortgage Loan for which Additional Collateral has been pledged, the value of the Additional Collateral as determined with respect to that Mortgage Loan in accordance with the applicable underwriting guidelines.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Release Price As defined in Section 4.5(a).

  • Repurchase Value means the Fair Market Value in the event the award to be repurchased under Section 10.2 is comprised of shares of Common Stock and the difference between Fair Market Value and the Exercise Price (if lower than Fair Market Value) in the event the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject to the award.

  • Note Value means, with respect to any day, the present value of the unpaid Scheduled Payments on the Receivables, discounted at an annual rate equal to 4.75%. For purposes of calculating Note Value, in the case of a defaulted Receivable: (a) prior to the time at which such defaulted Receivable becomes a Repossessed Receivable or a 180-day Receivable, the Scheduled Payments on such Receivable will be computed based on the amounts that would have been the Scheduled Payments had such default not occurred; (b) at the earlier of the time at which such defaulted Receivable becomes a Repossessed Receivable or a 180-day Receivable, the amount added to the Note Value with respect to such Receivable will be the estimated realizable value of such Receivable, as determined by the Servicer in accordance with its normal servicing procedures and (c) after the time such defaulted Receivable becomes a Liquidated Receivable, and after the payment of a Purchase Amount in respect of a Purchased Receivable, there shall be deemed to be no Scheduled Payments due on such Receivable.

  • Applicable Value means, as of any date, with respect to each Share, the fair value of such Share, as determined in good faith by the Board of Directors.

  • Reference Value means the last reported sales price of the shares of Common Stock for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice of the redemption is given.

  • Loan Value means for any Loan that is not Defaulted Receivable on any day (including the Cut-off Date) (A) with respect to Precomputed Loans, (i) the present value of the future Scheduled Payments discounted monthly at the applicable Implicit Rate of Return, plus (ii) any past due Scheduled Payments reflected on the Servicer’s records, plus (iii) the unamortized amounts of any purchase premiums, minus (iv) the unamortized amounts of any purchase discounts and (B) with respect to Simple Interest Loans, (i) the balance reflected on the Servicer’s records plus (ii) the unamortized amounts of any purchase premiums minus (iii) the unamortized amounts of any purchase discounts. Defaulted Receivables that are Loans shall be deemed to have a Loan Value equal to the outstanding Loan Value at the time it became a Defaulted Receivable less the amount written-off as uncollectible in accordance with the Credit and Collection Policy.

  • Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Salvage value means the amount received for property retired, less any expenses incurred in connection with the sale or in preparing the property for sale, or, if retained, the amount at which the material recoverable is chargeable to materials and supplies, or other appropriate account.

  • Average value means the value which best represents the amount of the nutrient which a given food contains, and reflects allowances for seasonal variability, patterns of consumption and other factors which may cause the actual value to vary.

  • Aggregate Collateral Balance means, as at any Measurement Date, the amount equal to the aggregate of the following amounts, as at such Measurement Date:

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Stored value means monetary value that is evidenced by an electronic record.

  • Aggregate Value means, with respect to any block of Equity Stock, the sum of the products of (i) the number of shares of each class of Equity Stock within such block multiplied by (ii) the corresponding Market Price of one share of Equity Stock of such class.

  • Share Value means $25.00 plus declared and unpaid dividends as at the date of the Trigger Event.

  • RI Value means, in respect of a Reference Item and a ST Valuation Date, (i) the RI Closing Value for such Reference Item in respect of such ST Valuation Date, divided by (ii) the relevant RI Initial Value (expressed as a percentage).

  • Borrowing Base Amount means:

  • Worst Value means, in respect of a ST Valuation Date, the RI Value for the Reference Item(s) with the lowest or equal lowest RI Value for any Reference Item in the Basket in respect of such ST Valuation Date.

  • rand value means the total estimated value of a contract in Rand, calculated at the time of bid invitation, and includes all applicable taxes;

  • Baseline Value for each of the Company and the Peer Companies means the dollar amount representing the average of the Fair Market Value of one share of common stock of such company over the five consecutive trading days ending on, and including, the Effective Date.

  • Collateral Release Date shall have the meaning provided in Section 10.15(d).

  • Release Period means the period specified in paragraph 3(d) of the letter of consent.

  • Collateral Principal Percentage means, with respect to any Monthly Period, (i) during the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Collateral Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which is the Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Collateral Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Collateral Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Collateral Initial Invested Amount and the denominator of which is the Initial Invested Amount.