When liquidating a Licence to replace it with another one, the asset worth of the liquidated Licence is not received in full. The % of the value paid is as per the table below, according to whatever Level the Holding is playing. Accordingly, the overall total asset value of a Holding will be reduced by the difference between the percentage of asset worth received and what it was actually worth, i.e. its original cost when purchased plus the accumulated cost of subsequent upsizings = total Licence asset worth.

Level 1 = 80% of the liquidated Licence's asset value is paid to the Holding A/c (loss of 20% of this licence's asset value)
Level 2 = 77%
Level 3 = 74%
Level 4 = 71%
Level 5 = 68%
Level 6 = 65%
Level 7 = 62%
Level 8 = 59%
Level 9 = 56%
Level 10 = 53%

Thus some total Holding asset value is lost. This can mean that your credit may now exceed the max credit limit allowed against the reduced value of your Holding's overall assets. The system only allows 65% of your total asset value to be taken in credit. Where the credit required to purchase a new Licence would exceed the limit of 65%, then the system will deny permission to purchase a new Licence, hence it is important to manage liquidation with care

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