EFFECTIVE ADVANCE RATE

EFFECTIVE ADVANCE RATE. The term "Effective Advance Rate" shall mean the aggregate outstanding principal balance of the Revolving Loan Component and the Term Loan Component divided by the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to Lender hereunder. The Effective Advance Rate shall at no time exceed 95% (the "Maximum Effective Advance Rate"). In addition, the Effective Advance Rate determined with respect to the aggregate of the Loan, the Tranche A Credit Facility and the... Tranche B Credit Facility (collectively "TFC's Facilities") shall at no time exceed 95% of the aggregate outstanding principal balance of all Eligible Notes Receivable pledged to TFC, as agent or lender as applicable, under TFC's Facilities. View More