Percentage of Inventory on Rents Sample Clauses

Percentage of Inventory on Rents. Not permit the percentage of Inventory on rent to customers pursuant to valid and performing rental agreements to total Inventory to be less than 80% at any time during the first, second and fourth calendar quarters of each calendar year or less than 75% at any time during the third calendar quarter of each calendar year for "Core Stores". "Core Stores" means Borrower's existing stores plus any acquired stores which have been owned by Borrower for at least 120 days. Borrower's Initials /s/ MAP Lender's Initials _________ Date: March 1, 1999 This Consent and Amendment No. 11 ("Amendment") to Loan and Security Agreement is made as of March 1, 1999, between Rainbow Rentals, Inc. (formerly known as Rainbow Home Rentals, Inc.) ("Borrower") and Bank of America National Trust and Savings Association (formerly known as Bank of America Illinois, formerly known as Continental Bank Illinois, formerly known as Continental Bank N.A.) ("Lender"). Reference is made to that certain Loan and Security Agreement between Borrower and Lender dated October 5, 1992 (as amended, the "Loan Agreement"). Borrower has informed Lender that Borrower desires to enter into that certain Asset Purchase Agreement dated as of February 8, 1999 among Borrower, Blue Ribbon Rentals, Inc. and Blue Ribbon Rentals II, Inc. Borrower acknowledges that the execution and delivery of the Asset Purchase Agreement requires the consent of Lender and has requested that Lender provide such consent. Borrower has also requested that the Loan Agreement be amended in certain respects.
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Related to Percentage of Inventory on Rents

  • Sale of Inventory Purchaser shall purchase (or shall cause its Affiliates to purchase) the Inventory in separate transactions in accordance with the terms and conditions contained in the Supply Agreement. It is agreed and understood by and between the Parties that the Purchase Price does not include the Inventory.

  • Waiver of Inventory, Accounting and Appraisal Requirement The Trustee shall be relieved of, and each Certificateholder hereby waives, any requirement of any jurisdiction in which the Trust, or any part thereof, may be located that the Trustee file any inventory, accounting or appraisal of the Trust with any court, agency or body at any time or in any manner whatsoever.

  • Location of Inventory and Equipment The Inventory and Equipment are not stored with a bailee, warehouseman, or similar party (without Foothill's prior written consent) and are located only at the locations identified on Schedule 6.12 or otherwise permitted by Section 6.12.

  • Location of Inventory Except as set forth in Schedule 4.25, the Inventory of Borrowers and their Subsidiaries is not stored with a bailee, warehouseman, or similar party and is located only at, or in-transit between, the locations identified on Schedule 4.25 to this Agreement (as such Schedule may be updated pursuant to Section 5.14).

  • Eligible Inventory As to each item of Inventory that is identified by any Borrower as Eligible Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Determining Number of Billable Accounts The Open Account Fee and the Closed Account Fee shall be paid only with respect to accounts serviced directly by the Transfer Agent and not with respect to accounts serviced by third parties pursuant to omnibus account service or sub-accounting agreements, as provided in Section 2.04 of the Agreement. Notwithstanding that the Transfer Agent does not collect an Open Account Fee on accounts serviced by third parties pursuant to omnibus account service or sub-accounting agreements, any Small Account Fees collected on such accounts shall be subtracted as provided above under “Open Account Fee.”

  • Minimum Consolidated Net Worth Permit the Consolidated Net Worth of the Company at the end of any fiscal quarter to be less than US$11,250,000,000 (“Minimum Amount”).

  • As to Equipment and Inventory The Grantor hereby agrees that it shall

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