Weighted Average Advance Rate definition

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.

Weighted Average Advance Rate. With respect to any Class of Notes on any date of determination, a percentage equal to the weighted average of the non-zero Advance Rates applicable to the Receivables in the case of such Class (weighted based on the Receivable Balances of all Facility Eligible Receivables that have a positive Collateral Value attributable to each separate Advance Type on such date). With respect to a Series of Notes, the “Weighted Average Advance Rate” shall equal the Weighted Average Advance Rate with respect to the Class within such Series with the highest Advance Rates.

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

Examples of Weighted Average Advance Rate in a sentence

• The Weighted Average Advance Rate represents the percentage advanced against the dealers’ wholesale price of the equipment.

• Totals may not add to 100% due to rounding.Composition of the Receivables as of the Cutoff Date Weighted Average Adjusted APR Average Original Statistical Contract Value (1) The Weighted Average Advance Rate represents the percentage advanced against the dealers’ wholesale price of the equipment.

• Maximum Availability: At any time, subject to the Minimum Overcollateralization Amount, an amount equal to the product of the Borrowing Base and the Weighted Average Advance Rate, plus the amount on deposit in the Principal Collections Account received in reduction of the Outstanding Loan Balance of any Eligible Loan; provided, however, during the Amortization Period, the Maximum Availability shall be equal to the Advances Outstanding.

• Maximum Permitted Amount: An amount equal to the difference between (x) the product of (i) the difference between (A) the aggregate Collateral Value (as calculated using clause (a) of the definition of Market Value Percentage), minus (B) the Term Note Series Invested Amount, and (ii) the Weighted Average Advance Rate with respect to the Variable Funding Notes, minus (y) any amounts necessary to pay down the VFN Principal Balance in order to remove a Borrowing Base Deficiency.

• The Weighted Average Advance Rate represents the percentage advanced against the dealers' wholesale price of the equipment.

More Definitions of Weighted Average Advance Rate

Weighted Average Advance Rate. For any Advances Outstanding on any day, the weighted average of the Advance Rates applicable to the Eligible Assets backing such Advances on such day, weighted according to the proportion of the Aggregate Outstanding Asset Balance each type of Asset represents.

Weighted Average Advance Rate. As of any date of determination with respect to all Eligible Loans on such date (a) the sum of the products for each Eligible Loan of (i) such Eligible Loan’s Advance Rate and (ii) such Eligible Loan’s OLB minus the portion, if any, of such Eligible Loan’s OLB included in the Excess Concentration Amount divided by (b) the Aggregate OLB on such date minus the Excess Concentration Amount.

Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Loans, the number expressed as a percentage (rounded to the nearest one hundredth (1/100th) of one percent (1%)) obtained by summing the products obtained by multiplying: the Advance Rate at such time applicable to such Eligible Loan X the Outstanding Loan Balance of such Eligible Loan and dividing such sum by: the Aggregate Outstanding Loan Balance at such time.

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 dividing (i) the amount obtained by 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 by (ii) the Adjusted Aggregate Eligible Collateral Obligation Balance, in each case, as of such date.

Weighted Average Advance Rate. For any Advances Outstanding on any day, the weighted average of the Advance Rates applicable to the Eligible Loans backing such Advances on such day, weighted according to the proportion of the Adjusted Borrowing Value that each Loan forming a part of the Collateral represents.

Weighted Average Advance Rate. As of any Measurement Date, a percentage equal to (a) the sum of (i) the Adjusted Borrowing Value of each Loan multiplied by the (ii) applicable Advance Rate of each Loan divided by (b) the aggregate Adjusted Borrowing Value of all of the Loans.

Weighted Average Advance Rate means, as of any date of determination, an amount equal to (a) the aggregate sum of the products, for each Eligible Collateral Asset, of (i) the Asset Advance Rate for such Eligible Collateral Asset as of such date and (ii) the Asset Value of such Eligible Collateral Asset (less the portion, if any, of such Eligible Collateral Asset allocated by the Borrower to the Excess Concentration Amount) as of such date divided by (b)(i) the Aggregate Asset Value of all Eligible Collateral Assets minus (ii) the Excess Concentration Amount.