Senior Advance Rate definition

Senior Advance Rate means, as of any Measurement Date (or other applicable date), the ratio (expressed as a percentage) obtained by dividing:
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Senior Advance Rate means, as of any Measurement Date (or other applicable date), the ratio (expressed as a percentage) obtained by
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Senior Advance Rate shall be calculated using, (1) for (a) any Collateral Loan that is not a Defaulted Loan, Long Dated Loan or Current Pay Obligation and has a current Market Value of less than 95% of its par amount and (b) Current Pay Obligations up to 5.0% of Total Capitalization that have a current Market Value of less than 95% of their respective par amount (measured separately with respect to each Current Pay Obligation), the lesser of the Market Value and the purchase price of such Collateral Loan and (2) for any Collateral Loan that is not included in clause (1) above (including, for the avoidance of doubt, Current Pay Obligations in excess of 5.0% of Total Capitalization), the method of calculation set out in the definition of Principal Collateralization Amount, and (z) the Borrower gives at least two Business Days’ notice of such distribution to the Agents and S&P. For the avoidance of doubt, the foregoing conditions will not apply to any acquisitions of any new Collateral Loans by the Borrower from the Parent or any Affiliate of the Parent.
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Examples of Senior Advance Rate in a sentence

  • For purposes of calculating compliance with any tests under this Agreement (including without limitation the Coverage Tests, the Collateral Quality Test, Senior Advance Rate Test and the Concentration Limitations), the trade date (and not the settlement date) with respect to any acquisition or disposition of a Collateral Loan or Eligible Investment shall be used to determine whether and when such acquisition or disposition has occurred.

  • For the avoidance of doubt, the Senior Agent will be entitled to rely on the confirmation given by the Borrower pursuant to paragraph (B) of Clause 5.2 ( Further conditions precedent) as to the satisfaction of the Senior Advance Rate Test.

  • The amount of the proposed Utilisation must not exceed the Available Facility, and, immediately after the making of the proposed Utilisation, the Senior Advance Rate Test must be met.


More Definitions of Senior Advance Rate

Senior Advance Rate means the EUR Senior Outstanding Principal Amount, divided by the EUR Collateral Portfolio Amount.
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Senior Advance Rate means as of any date of determination, the greater of (i) the effective advance rate as of the initial Increase Date (as defined in the Series 2018-Two Purchase Agreement) and (ii) the effective advance rate for the Series 2018-Two Notes as of such date. .
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Senior Advance Rate means, with respect to any Purchased Asset on any date, the figure specified in the Confirmation relating such Purchased Asset.
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Related to Senior Advance Rate

  • Maximum Advance Rate means 80.0%.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Advance Rate has the meaning assigned to such term in Section 5.13.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Revolving Interest Rate means, with respect to Revolving Advances, an interest rate per annum equal to (a) the lesser of (i) the sum of the Alternate Base Rate plus the Applicable Revolving Domestic Rate Margin and (ii) the Maximum Rate, with respect to Domestic Rate Loans, and (b) the lesser of (i) the sum of the Eurodollar Rate plus the Applicable Revolving Eurodollar Rate Margin and (ii) the Maximum Rate, with respect to the Eurodollar Rate Loans.

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Advance Rates shall have the meaning set forth in Section 2.1(a) hereof.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Credit Card Advance Rate means 90%.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • Net Loan Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the then applicable Loan Rate for such Mortgage Loan minus the related Servicing Fee Rate and the Master Servicing Fee Rate.

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

  • Collateral Rate means, for any Interest Period, the rate specified in the Loan Agreement.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Note Rate means, in the case of the Class A-1 Notes, the Class A-1 Rate; in the case of the Class A-2a Notes, the Class A-2a Rate; in the case of the Class A-2b Notes, the Class A-2b Rate; in the case of the Class A-3 Notes, the Class A-3 Rate; in the case of the Class A-4 Notes, the Class A-4 Rate; in the case of the Class B Notes, the Class B Rate; in the case of the Class C Notes, the Class C Rate; and in the case of the Class D Notes, the Class D Rate.

  • Class B Note Rate means % per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.