Inventory Sublimit Clause Samples
An Inventory Sublimit clause sets a specific maximum amount that an insurer will pay for losses related to inventory under an insurance policy. This sublimit applies only to inventory items, meaning that even if the overall policy limit is higher, claims for inventory losses cannot exceed the stated sublimit. For example, if a business suffers a fire and loses both equipment and inventory, the payout for inventory will be capped at the sublimit, regardless of the total loss. The core function of this clause is to manage the insurer's exposure to potentially high inventory losses and to clarify the extent of coverage for policyholders.
POPULAR SAMPLE Copied 1 times
Inventory Sublimit. Paragraph 3 of the letter agreement re: Inventory Loans, dated March 23, 1990, is hereby further amended by deleting the reference to "$5,000,000" and replacing it with "$6,000,000".
Inventory Sublimit. Time Period Inventory Sublimit ----------- ------------------ From June 1, 1998 to and $7,600,000.00 including June 14, 1998 From June 15, 1998 and at all $7,475,000.00 times thereafter
Inventory Sublimit. Time Period Inventory Sublimit ----------- ------------------ From Petition Date to and $12,000,000.00 including December 28, 1997 Time Period Inventory Sublimit ----------- ------------------ From December 29, 1997 to and $11,500,000.00 including January 11, 1998 From January 12, 1998 to and $11,000,000.00 including January 18, 1998 From January 19, 1998 to and $10,500,000.00 including February 1, 1998 From February 2, 1998 to and $10,000,000.00 including February 15, 1998 From February 16, 1998 to and $9,500,000.00 including March 2, 1998 On March 3, 1998 $9,400,000.00 From March 4, 1998 to and $9,350,000.00 including March 8, 1998 From March 9, 1998 to and $9,150,000.00 including March 15, 1998 From March 16, 1998 to and $9,000,000.00 including March 29, 1998 From March 30, 1998 to and $8,700,000.00 including April 5, 1998 From April 6, 1998 to and $8,400,000.00 including May 31, 1998 From June 1, 1998 and at all times thereafter $8,000,000.00
Inventory Sublimit. Paragraph 3 of the Inventory Loan Letter is hereby further amended by deleting the reference to "$6,000,000" and replacing it with "$7,000,000".
Inventory Sublimit. As of the opening of business on Wednesday (or, if not a Business Day, on the first Business Day thereafter) of each week, the sublimit on inventory advances referred to in subsection (b)(ii)(A) of the definition of "Borrowing Base" in the Loan Agreement (which sublimit is presently at $4,900,000) will continue to be permanently and automatically decreased by $25,000.
Inventory Sublimit. Time Period Inventory Sublimit ----------- ------------------ From Petition Date to and $12,000,000.00 including December 28, 1997 From December 29, 1997 to and $11,500,000.00 including January 11, 1998 Time Period Inventory Sublimit ----------- ------------------ From January 12, 1998 to and $11,000,000.00 including January 18, 1998 From January 19, 1998 to and $10,500,000.00 including February 1, 1998 From February 2, 1998 to and $10,000,000.00 including February 15, 1998 From February 16, 1998 to and $ 9,500,000.00 including March 2, 1998 On March 3, 1998 $ 9,400,000.00 From March 4, 1998 to and $ 8,750,000.00 including May 31, 1998 From June 1, 1998 and at all times thereafter $ 8,000,000.00
Inventory Sublimit. Section 2.1 (b) of the Loan Agreement is hereby deleted in its entirety and the following substituted therefor:
Inventory Sublimit. Inventory Sublimit shall mean the lesser of (A) $1,500,000 (the "Inventory Amount") and (B) 30% (the "Inventory Sublimit Rate") of Cash Receipts Availability; provided, that the Inventory Amount shall reduce to $750,000 on April 1, 1994 and thereafter shall further reduce by $187,500, commencing on April 30, 1994 and continuing on the same day of each calendar quarter thereafter until the Inventory Amount is zero, and the Inventory Sublimit Rate shall reduce to 25% on April 1, 1994 and thereafter shall further reduce by five percentage points, commencing on April 30, 1994 and continuing on the same day of each calendar quarter thereafter until the Inventory Sublimit Rate is reduced to zero.
Inventory Sublimit. Inventory Sublimit shall mean the lesser of (A) the Inventory Amount (as defined below) and (B) 30% (the "Inventory Sublimit Rate") of Cash Receipts Availability; provided that the Inventory Sublimit shall be $2,250,000 during the period from March 1, 1995 through August 31, 1995 and the Inventory Sublimit shall be $2,000,000 during the period from September 1, 1995 through February 28, 1996. The "Inventory Amount" shall be $1,500,000 during the period from January 1 through September 30 of each year and $1,750,000 during the period from October 1 through December 31 of each year.
Inventory Sublimit. Paragraph 3 of the Inventory Loan Letter is hereby deleted in its entirety and the following substituted therefor: