Real Property Component definition

Real Property Component. ’ or ‘‘Com- ponent’’ means each individual part of a dwelling that makes it habitable, as enumerated in paragraph (b)(2)(ii) of this section.

Real Property Component means at any time of determination, the lesser of (a) thirty-five percent (35%) of the Maximum Credit Amount, and (b) fifty percent (50%) of the fair market value of U.S. Loan Parties’ Eligible Real Property, in each case, as set forth in the most recent appraisal of such Eligible Real Property as determined from time to time by an independent appraiser engaged by the Administrative Agent, which appraisal shall use a methodology reasonably acceptable to the Administrative Agent. For the period from and including the Effective Date to the date the Administrative Agent notifies the Company that it has obtained a new appraisal that reflects a different value, the Real Property Component shall be $78,000,000.

Real Property Component means, as of the date of any determination thereof, an amount that is equal to the lowest of (x) the product of $25,000 multiplied by the number of beds contained in Eligible Eldercare Centers, (y) $175,000,000 and (z) the sum of (i) the Total Commitment less (ii) the product of Eligible Accounts Receivable multiplied by the applicable advance rates set forth in the definition of the term "Borrowing Base" for different categories of Eligible Accounts Receivable.

Real Property Component means $125,000,000, PROVIDED that such amount shall be (i) automatically and permanently reduced at the time of the sale, transfer or other disposition by the Borrower or any of the Guarantors of any real property or any leasehold interest in real property (other than real property and leasehold interests in real property described in Schedule 6.11) by an amount that is equal to the appraised value thereof as reflected in the most recent appraisal with respect thereto furnished to the Agent pursuant to Section 5.10 or delivered to the Pre-Petition Agent pursuant to the requirements of the Existing Agreement (it being understood that if any such appraisal sets forth a range of values for the subject property, the "appraised value" of such property shall be the arithmetic mean of the high and low values specified for such property in such appraisal as determined by the Agent) and (ii) otherwise adjusted as determined by the Agent to reflect the appraised values that are set forth in the appraisals that are furnished to the Agent from time to time pursuant to Section 5.10.

Real Property Component means at any time of determination, the lesser of (a) thirty percent (30%) of the Maximum Credit Amount and (b) the Real Property Advance Rate of the Fair Market Value of U.S. Loan Parties’ Eligible Real Property, as set forth in the most recent appraisal of such Eligible Real Property as determined from time to time by an independent appraiser engaged by the Administrative Agent; provided that, at the Borrower Representative’s request from time to time, the Administrative Agent shall select an independent appraiser to conduct an appraisal at the expense of the Loan Parties, which appraisal shall use a methodology reasonably acceptable to the Administrative Agent.

Real Property Component means $40,000,000, PROVIDED that such amount shall be (i) $25,000,000 until such time as the Agent shall be satisfied, in its sole discretion, with the legal details, perfection and enforceability under South Carolina law of the assignment to the Agent by the Borrower of its leasehold interest in the Gaffney Plant (including, without limitation, the assignment of the Borrower's right to compel the conveyance of fee title to the real property comprising the Gaffney Plant) and shall have received the favorable opinion of South Carolina counsel satisfactory to the Agent with respect thereto, (ii) automatically and permanently reduced at the time of the sale, transfer or other disposition by the Borrower of any real property, leasehold interest in real property or Equipment (other than real property, leasehold interests in real property and Equipment described in the schedule of proposed asset sales heretofore furnished by the Borrower to the Agent in connection with the property dispositions that are permitted by clause (ii) of Section 6.11) by an amount that is equal to the appraised value thereof as reflected in the most recent appraisal with respect thereto furnished to the Agent pursuant to Section 5.11 (it being understood that if any such appraisal sets forth a range of values for the subject property, the "appraised value" of such property shall be the arithmetic mean of the high and low values specified for such property in such appraisal as determined by the Agent) and (iii) otherwise adjusted as determined by the Agent to reflect the appraised values that are set forth in the appraisals that are furnished to the Agent from time to time pursuant to Section 5.11.

Real Property Component means at any time of determination, with respect to each parcel of Eligible Real Property, an amount equal to the amount for such parcel set forth on Schedule 1.01(a) as of the time of such determination.

Real Property Component means, in calculating the Borrowing Base, seventy-five percent (75%) of the appraised value of the Real Property Collateral as determined from time to time by Bank in its sole judgment.

Real Property Component set forth in Section 1.01 of the Credit Agreement is hereby amended by deleting the amount "$125,000,000" appearing in the first line thereof and inserting in lieu thereof the amount "$119,000,000."