Common use of Revolving Advances Clause in Contracts

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter of Credit Reserve or (y) an amount equal to the sum of: (i) up to 90%, subject to the provisions of Section 2.1(b) hereof (the “Receivables Advance Rate”), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 65%, subject to the provisions of Section 2.1(b) hereof, of the value of the Eligible Inventory and (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower), minus (iii) the amount of the Letter of Credit Reserve, minus (iv) such Reserves as Agent may deem proper and necessary from time to time in its Permitted Discretion. The amount derived from the sum of (x) Sections 2.1(i) and (ii) minus (y) Sections 2.1(iii) and (iv) at any time and from time to time shall be referred to as the “Formula Amount.” The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.1.

Revolving Advances. Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 16.2, each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve and Acceptances or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b2.1(c) hereof (the “"Receivables Advance Rate”"), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6560%, subject to the provisions of Section 2.1(b2.1(c) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates") or (B) 85% of $35,000,000 in the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) the aggregate amount of the Letter outstanding Letters of Credit Reserveand Acceptances, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (xa) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (yb) Sections 2.1(iiiSection 2.1 (a)(y)(iii) and (iv) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. (a) Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9080%, subject to the provisions of Section 2.1(b) hereof (the “Eligible Receivables Advance Rate”), of Eligible Receivables, other than Eligible Government Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6550%, subject to the provisions of Section 2.1(b) hereofhereof (“Eligible Government Receivables Advance Rate”), of the value of Eligible Government Receivables (the Eligible Inventory Receivables Advance Rate and (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as Government Receivables Advance Rate shall be mutually satisfactory referred to Agent and Borrowercollectively as the “Advance Rates”), minus (iii) the aggregate amount of the Letter charges outstanding and additional amounts available under Letters of Credit Reserve(other than Letters of Credit that are 105% cash collateralized), minus (iv) such Reserves reserves as Agent may deem proper and determine in its good faith business judgment to be necessary from time to time in its Permitted Discretiontime, minus (v) $5,000,000. The amount derived from (x) the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (y) the sum of Sections 2.1(iii2.1(a)(y)(iii), (iv) and (ivv) at any time and from time to time shall be referred to as the “Formula Amount.” ”. The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. (a) Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less (i) the aggregate amount of the Letter outstanding Letters of Credit Reserve and (ii) the Foreign Exchange Sub-Limit, or (y) an amount equal to the sum of: (i) up to 9080%, subject to the provisions of Section 2.1(b) hereof (the “Eligible Receivables Advance Rate”), of Eligible Receivables, other than Eligible Government Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6550%, subject to the provisions of Section 2.1(b) hereofhereof (“Eligible Government Receivables Advance Rate”), of the value of Eligible Government Receivables (the Eligible Inventory Receivables Advance Rate and (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as Government Receivables Advance Rate shall be mutually satisfactory referred to Agent and Borrowercollectively as the “Advance Rates”), minus (iii) the aggregate amount of the Letter charges outstanding and additional amounts available under Letters of Credit Reserve(other than Letters of Credit that are 105% cash collateralized), minus (iv) such Reserves as Agent may deem proper and necessary from time to time in its Permitted Discretionthe Foreign Exchange Sub-Limit. The amount derived from (x) the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (y) the sum of Sections 2.1(iii2.1(a)(y)(iii) and (iv) at any time and from time to time shall be referred to as the “Formula Amount.” ”. The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.12.1(a).]

Revolving Advances. Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Sections 2.1(b) and (c), each Facility Lender, severally and not jointly, will make Revolving Advances to the Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof (the “"Receivables Advance Rate”"), of Eligible Receivables, plus (ii) up to the lesser of the sum of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”A)(i) (A) 6510%, subject to the provisions of Section 2.1(b) hereofhereof ("Raw Material Inventory Advance Rate"), of the value of the Eligible Inventory and consisting of raw materials plus (Bii) 85% up to the lesser of (1) 70%, subject to the provisions of Section 2.1(b) hereof ("Finished Goods Inventory Advance Rate"), of the appraised net orderly liquidation value of Eligible Inventory consisting of finished goods and (as evidenced by an 2) $5,000,000 plus (iii) 60%, subject to the provisions of Section 2.1(b) hereof (the "WIP Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent and BorrowerAdvance Rate"), minusof the value of Eligible Inventory consisting of work-in-process or (B) the lesser of (i) $30,000,000 (the "Inventory Cap") or (ii) 50% of the amount derived from the sum of Sections 2.1(a)(y)(i) plus 2.1(a)(y)(ii)(A) plus 2.1(a)(y)(iii), in the aggregate at any one time, plus (iii) the amount of the Letter of Credit ReserveAmortizing Availability, minus (iv) such Reserves reserves as the Administrative Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (x) Sections 2.1(i2.1(a)(y)(i), (ii) and (iiiii) minus (y) Sections 2.1(iii) and (ivSection 2.1(a)(y)(iv) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b2.1(c) hereof (the “"Receivables Advance Rate”"), of Eligible ReceivablesReceivables (the amount to be advanced against Eligible Receivables consisting of Xxxxxxx Progress Xxxxxxxx shall not exceed $5,000,000 at any time and from time to time), plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6560%, subject to the provisions of Section 2.1(b2.1(c) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates") or (B) 85% of $65,000,000 in the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) an amount equal to the sum of (x) the aggregate amount of the Letter outstanding standby Letters of Credit Reserveplus, (y) the product of (I) the aggregate amount of outstanding documentary Letters of Credit multiplied by (II) 1 minus the Inventory Advance Rate, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (y) Sections 2.1(iii) and Section 2.1 (iva)(y)(iv) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, Lender will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve and Acceptances or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof (the “"Receivables Advance Rate”"), of Eligible ReceivablesReceivables (calculated based upon the Dollar Equivalent of Receivables of Guarantor), plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6560%, subject to the provisions of Section 2.1(b) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory and (B) 85% calculated based upon the Dollar Equivalent of the appraised net orderly liquidation value Inventory of Guarantor) (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates"); provided, however, the maximum amount of outstanding Advances against Eligible Inventory (as evidenced by an Inventory appraisal conducted shall not exceed $41,000,000 at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minusplus (iii) but only until the release of Lender's Liens in accordance with Section 4.21 of this Agreement, $17,100,000, which amount shall be reduced by $100,000 on the first day of each month commencing May 1, 1998 until October 2, 2000 when the Letter entire unpaid balance of Credit Reservesuch amount shall be due and payable, minus (iv) the aggregate amount of outstanding Letters of Credit and Acceptances, minus (v) such Reserves reserves as Agent Lender may reasonably deem proper and necessary from time to time time, including, as determined by Lender to be appropriate in its Permitted Discretionrespect of the Guarantor Collateral, reserves for goods and services, sales and excise taxes and for the rights of unpaid suppliers. The amount derived from (x) the sum of Sections 2.1(a)(y)(i) (x) Sections 2.1(iii) and (ii) minus (y) Sections 2.1(iii) and (iv) at any time and from time to time shall be referred to as the “Formula Amount.” The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.1.iii)

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, Lender will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve Credit, Acceptances and Capital Expenditure Loans or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof (the “"Receivables Advance Rate”"), of Eligible ReceivablesReceivables (calculated based upon the Dollar Equivalent of Receivables of Canadian Guarantor), plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6550%, subject to the provisions of Section 2.1(b) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory and (B) 85% calculated based upon the Dollar Equivalent of the appraised net orderly liquidation value Inventory of Canadian Guarantor) (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates"); provided, however, the maximum amount of outstanding Advances against Eligible Inventory shall not exceed $41,000,000 at any one time, plus (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)iii) but only until the release of Lender's Liens in accordance with Section 4.21 of this Agreement, Amortizing Availability, plus (iv) the Special Advance Amount, minus (iiiv) the aggregate amount of the Letter outstanding Letters of Credit Reserveand Acceptances, minus (ivvi) such Reserves reserves as Agent Lender may reasonably deem proper and necessary from time to time time, including, as determined by Lender to be appropriate in its Permitted Discretionrespect of the Guarantor Collateral, reserves for goods and services, sales and excise taxes and for the rights of unpaid suppliers. The amount derived from (x) the sum of Sections 2.1(a)(y)(i), (x) Sections 2.1(iii), (iii) and (iiiv) minus (y) Sections 2.1(iii) and (ivSection 2.1(a)(y)(vi) at any time and from time to time shall be referred to as the “"Formula Amount".” The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.1."

Revolving Advances. Subject to the terms and conditions ------------------ set forth in this AgreementAgreement including, without limitation, Section 16.2, each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve and Acceptances or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b2.1(c) hereof (the “"Receivables Advance Rate”"), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6560%, subject to the provisions of Section 2.1(b2.1(c) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates") or (B) 85% of $60,000,000 in the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) the aggregate amount of the Letter outstanding Letters of Credit Reserveand Acceptances, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (xa) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (yb) Sections 2.1(iiiSection 2.1 (a)(y)(iii) and (iv) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a)."

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, Bank will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve and Acceptances or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof (the “"Receivables Advance Rate”"), of Eligible ReceivablesReceivables (calculated after converting the Receivables of Guarantor from Canadian Dollars to U.S. Dollars), plusPLUS (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6560%, subject to the provisions of Section 2.1(b) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and (B) 85% the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates"); PROVIDED, however, the maximum amount of the appraised net orderly liquidation value of outstanding Advances against Eligible Inventory (as evidenced by an Inventory appraisal conducted shall not exceed $33,000,000 at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minusPLUS (iii) but only until the release of Bank's Liens in accordance with Section 4.21 of this Agreement, $7,900,000, which amount shall be reduced by $100,000 on the first day of each month commencing June 1, 1997 until October 2, 2000 when the Letter entire unpaid balance of Credit Reservesuch amount shall be due and payable, minusMINUS (iv) the aggregate amount of outstanding Letters of Credit and Acceptances, MINUS (v) such Reserves reserves as Agent Bank may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from (x) the sum of Sections 2.1(a)(y)(i) (x) Sections 2.1(iii) and (iiiii) minus (y) Sections 2.1(iii) and (ivSection 2.1(a)(y)(v) at any time and from time to time shall be referred to as the “"Formula Amount".” The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.1."

Revolving Advances. Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less minus the aggregate principal amount of outstanding under the Letter of Credit Reserve Acquisition Subline or (y) an amount equal to the sum of: (i) up to 90Fifty (50%) percent, subject to the provisions of Section 2.1(b) hereof (the “Receivables Advance Rate”), ) of the face amount of the Eligible Receivables, plus; minus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 65%, subject to the provisions of Section 2.1(b) hereof, of the value of the Eligible Inventory and (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower), minus (iii) the amount of the Letter of Credit Reserve, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (x) Sections 2.1(i) and (ii2.1(a)(y)(i) minus (y) Sections 2.1(iii) and (ivSection 2.1(a)(y)(ii) at any time and from time to time shall be referred to as the “Formula Amount.” ”. The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “the Revolving Credit Note” . In the event that the aggregate principal amount of outstanding Revolving Advances exceeds the Formula Amount at any time, such excess shall nevertheless be: (x) secured by the Collateral, (y) subject to the terms of this Agreement, and collectively(z) due and payable immediately upon Agent’s demand, anything contained herein to the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.1contrary notwithstanding.

Revolving Advances. (a) Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof hereof, (the “Receivables Advance Rate”), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6550%, subject to the provisions of Section 2.1(b) hereofhereof (“Inventory Advance Rate”), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the “Advance Rates”) or (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted Sublimit in the aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) the aggregate amount of the Letter outstanding Letters of Credit ReserveCredit, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretion. The amount derived from the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (y) Sections 2.1(iii2.1 (a)(y)(iii) and (iv) at any time and from time to time shall be referred to as the “Formula Amount.” ”. The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve and GE Proceeds Advances or (y) an amount equal to the sum of: (i) up to 90the lesser of (A) 70%, subject to the provisions of Section 2.1(b2.1(c) hereof (the “Receivables "Inventory Advance Rate”"), of the value of Eligible ReceivablesInventory, or (B) 85% of the Net Orderly Liquidation Value of the Inventory at any one time; plus (ii) up to the lesser of one hundred percent (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 65100%), subject to the provisions of Section 2.1(b2.1(c) hereofhereof ("Cash on Deposit Advance Rate"), of Cash on Deposit in excess of $5,000,000 (the value of Inventory Advance Rate and the Eligible Inventory and (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as Cash on Deposit Advance Rate shall be mutually satisfactory referred to Agent and Borrowercollectively, as the "Advance Rates"), minus (iii) the amount of by which the Letter of Credit Reserve, availability for Revolving Advances based upon Stores-on-Wheels Inventory under item (i) above exceeds $10,000,000; minus (iv) the aggregate amount of outstanding Letters of Credit and GE Proceeds Advances, minus (v) the Bank Products Reserves and such Reserves other reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from (a) the sum of (x) Sections 2.1(iSection 2.1(a)(y)(i) and (ii) minus the sum of (yb) Sections 2.1(iii2.1 (a)(y)(iii), (iv) and (ivv) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. (a) Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9080%, subject to the provisions of Section 2.1(b) hereof (the “"Eligible Receivables Advance Rate”"), of Eligible Receivables, other than Eligible Government Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6550%, subject to the provisions of Section 2.1(b) hereofhereof ("Eligible Government Receivables Advance Rate"), of the value of Eligible Government Receivables (the Eligible Inventory Receivables Advance Rate and (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as Government Receivables Advance Rate shall be mutually satisfactory referred to Agent and Borrowercollectively as the "Advance Rates"), minus (iii) the aggregate amount of the Letter charges outstanding and additional amounts available under Letters of Credit Reserve(other than Letters of Credit that are 105% cash collateralized), minus (iv) such Reserves reserves as Agent may deem proper and determine in its good faith business judgment to be necessary from time to time in its Permitted Discretiontime. The amount derived from (x) the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (y) the sum of Sections 2.1(iii2.1(a)(y)(iii) and (iv) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.1.------- 2.1(a). ------

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make including, without limitation, Section 2.1(b), Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) up to 90%, 85% subject to the provisions of Section 2.1(b2.1(c) hereof (the “"Receivables Advance Rate”"), of Eligible ReceivablesReceivables provided however that no more than $750,000 in the aggregate at any one time may be based on Eligible Receivables consisting of foreign accounts receivable not backed by a letter of credit or credit insurance in form and on terms satisfactory to Agent in its sole discretion, plusPLUS (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 65%, 60% subject to the provisions of Section 2.1(b2.1(c) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates") or (B) 85the lesser of (x) $3,000,000 in the aggregate at any one time, and (y) 50% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower), minusaggregate Revolving Advances PLUS (iii) the product of (a) the aggregate amount of outstanding Letters of Credit (excluding the Singapore Letter of Credit ReserveCredit) TIMES (b) the Inventory Advance Rate, minusMINUS (iv) the aggregate amount of outstanding Letters of Credit, MINUS (v) such Reserves reserves as Agent may reasonably deem in a commercially reasonable manner proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (x) Sections 2.1(i2.1(a)(y)(i), (ii) and (iiiii) minus MINUS (y) Sections 2.1(iii) and Section 2.1 (iva)(y)(v) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more the secured promissory notes note (each, a “"Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.1EXHIBIT 2.1(a).

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof (the “"Receivables Advance Rate”"), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6560%, subject to the provisions of Section 2.1(b) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates") or (B) 85the lesser of (1) $1,000,000 in the aggregate at any one time or (2) 25% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted the Formula Amount at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus; (iii) the aggregate amount of the Letter outstanding Letters of Credit ReserveCredit, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime, including, without limitation, the PACA Reserve, reserves for past due accounts payable and the Collateral Term Loan Short-fall Reserve. The amount derived from the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (y) Sections 2.1(iii2.1 (a)(y)(iii) and (iv) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more the secured promissory notes note (each, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.2, each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) 2.1.1 up to 90eighty-five percent (85%), subject to the provisions of Section 2.1(b) 2.2 hereof (the “"Receivables Advance Rate”"), of Eligible Receivables, plus (ii) 2.1.2 up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 65forty-two percent (42%), subject to the provisions of Section 2.1(b) hereof2.2 hereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates") or (B) 85% of One Million Five Hundred Thousand Dollars ($1,500,000) in the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) 2.1.3 the aggregate amount of the Letter outstanding Letters of Credit ReserveCredit, minus (iv) 2.1.4 such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (x) Sections 2.1(i) 2.1.1 and (ii) 2.1.2 minus (y) Sections 2.1(iii) 2.1.3 and (iv) 2.1.4 at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.1").

Revolving Advances. (a) Subject to the terms and conditions set forth in this AgreementAgreement including Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof (the “"Receivables Advance Rate”"), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6550%, subject to the provisions of Section 2.1(b) hereof, of the value of the Eligible Inventory and Inventory, (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent in its sole discretion exercised in good faith) or (C) the Inventory Sublimit in the aggregate at any one time ("Inventory Advance Rate" and Borrowertogether with the Receivables Advance Rate, collectively, the "Advance Rates"), minus (iii) the amount of the Letter of Credit Reserve, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretionincluding, but not limited to, the Seller Note Payable Reserve. The amount derived from the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (y) Sections 2.1(iii) and Section 2.1 (iva)(y)(iii) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof (the “"Receivables Advance Rate”"), of Eligible Receivables, plusPLUS (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6555%, subject to the provisions of Section 2.1(b) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as Advance Rate shall be mutually satisfactory referred to Agent and Borrower)collectively, minusas the "Advance Rates") in the aggregate at any time, PLUS (iii) the product of the aggregate amount of the Letter outstanding documentary Letters of Credit Reserve, minustimes the Inventory Advance Rate MINUS (iv) the aggregate amount of outstanding Letters of Credit, MINUS (v) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from (x) the sum of Sections 2.1(a)(y)(i) (x) Sections 2.1(iii) and (iiiii) minus MINUS (y) Sections 2.1(iii) and (ivSection 2.1(a)(y)(v) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.1EXHIBIT 2.1(A).

Revolving Advances. Subject to the terms and conditions set forth in this Agreement, including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) up to 90the lesser of (A) 85%, subject to the provisions of Section 2.1(b) hereof (the “Receivables "Advance Rate”"), of Eligible ReceivablesReceivables and (B) 90% of Eligible Receivables (as defined in the Senior Notes Indenture), plusminus (ii) up to the lesser aggregate amount of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 65%, subject to the provisions outstanding Letters of Section 2.1(b) hereof, of the value of the Eligible Inventory and (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)Credit, minus (iii) the aggregate amount of the Letter of Credit Reserveall LC Indemnities, minus (iv) the Payroll Tax Reserve and such Reserves other reserves as Administrative Agent may reasonably deem proper and or necessary from time to time in its Permitted Discretiontime. The amount derived from the sum difference of (x) Sections 2.1(i) and (iiSection 2.1(a)(y)(i) minus (y) Sections 2.1(iii2.1 (a)(y)(ii), (iii) and (iv) at any time and from time to time shall be referred to as the “"Formula Amount.” " The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. (a) Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve and Swing Loans or (y) an amount equal to the sum of: (i) up to 90eighty-five percent (85%), subject to the provisions of Section 2.1(b) hereof (the “Receivables Advance Rate”), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 65sixty percent (60%), subject to the provisions of Section 2.1(b) hereofhereof (“Inventory Advance Rate”) (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the “Advance Rates”), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the “Advance Rates”), or (B) 85% of Forty Million and 00/100 Dollars ($40,000,000.00) in the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) the aggregate amount of the Letter outstanding Letters of Credit ReserveCredit, minus (iv) the aggregate amount of outstanding Swing Loans, minus (v) such Reserves reserves as the Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus the sum of Section 2.1(a)(y)(iii) through (y) Sections 2.1(iii) and (ivv) at any time and from time to time shall be referred to as the “Formula Amount.” ”. The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 16.2, each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve and Acceptances or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b2.1(c) hereof (the “"Receivables Advance Rate”"), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6560%, subject to the provisions of Section 2.1(b2.1(c) hereofhereof ("Inventory Advance Rate"), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates") or (B) 85% of $45,000,000 in the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) the aggregate amount of the Letter outstanding Letters of Credit Reserveand Acceptances, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (xa) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (yb) Sections 2.1(iiiSection 2.1 (a)(y)(iii) and (iv) at any time and from time to time shall be referred to as the “"Formula Amount.” ". The Revolving Advances shall be evidenced by one or more secured promissory notes (eachcollectively, a “the "Revolving Credit Note” and collectively, the “Revolving Credit Note”") substantially in the form attached hereto as Exhibit 2.12.1(a)."

Revolving Advances. Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter outstanding Letters of Credit Reserve or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b2.1(c) hereof (the “Receivables Advance Rate”), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6550%, subject to the provisions of Section 2.1(b2.1(c) hereofhereof (“Inventory Advance Rate”), of the value of the Eligible Inventory (the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the “Advance Rates”) or (B) 85% of $2,500,000.00 in the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) the aggregate amount of the Letter outstanding Letters of Credit ReserveCredit, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time in its Permitted Discretiontime. The amount derived from the sum of (x) Sections 2.1(i2.1(a)(y)(i) and (ii) minus (y) Sections 2.1(iiiSection 2.1 (a)(y)(iii) and (iv) at any time and from time to time shall be referred to as the “Formula Amount.” ”. The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.12.1(a).

Revolving Advances. (a) Revolving A Advances. Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving A Advances to Borrower from time to time during the Term in an aggregate amount amounts outstanding at any time equal not to exceed such Lender’s 's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter of Credit Reserve A Amount, or (y) an amount equal to the sum of: (i) up to 9085%, subject to the provisions of Section 2.1(b2.1(c) hereof (the “"Receivables Advance Rate”"), of the Net Amount of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6560%, subject to the provisions of Section 2.1(b2.1(c) hereofhereof ("Inventory Advance Rate"; the Receivables Advance Rate and the Inventory Advance Rate shall be referred to collectively, as the "Advance Rates"), of the value Value of the Eligible Inventory and Inventory; or (B) 85% of the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)$30,000,000, minus (iii) the aggregate amount of the Letter of Credit ReserveLC Outstandings (excluding any LC Outstandings cash collateralized pursuant to Section 2.10(e) hereof), minus (iv) any Asset Sale Reserve, minus (v) the amount of the New York Reserve, if any, and the amount of the Kentucky Reserve, if any, minus (vi) such Reserves reserves as Agent may may, in the exercise of its Permitted Discretion, deem proper and necessary from time to time in its Permitted Discretion. The amount derived from the sum of (x) Sections 2.1(i) and (ii) minus (y) Sections 2.1(iii) and (iv) at any time and from time to time shall be referred to as the “Formula Amounttime.” The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.1.

Revolving Advances. (a) Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term Borrowers in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount Maximum Undrawn Amount of the Letter outstanding Letters of Credit Reserve or and (y) an amount equal to the sum of: (i) the sum of: (A) up to 9085%, subject to the provisions of Section 2.1(b) hereof (such advance rate being referred to herein as the “Receivables Advance Rate”), of Eligible Receivables; provided, however, that: (1) Advances relating to Extended Term Receivables shall not exceed $18,000,000 outstanding at any time and (2) (y) Advances relating to Unbilled Receivables that are not unbilled for more than 30 days shall not exceed $35,000,000 at any time outstanding, plus (3) [Reserved]; (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) of: (A) 65%, subject (i) up to the provisions lesser of Section 2.1(b(a) hereof, 80% of the value cost of the Eligible Inventory and or (Bb) 8590% of the appraised net orderly liquidation value of such Eligible Inventory (as evidenced by an Inventory appraisal conducted at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower), minus (iii) the amount of the Letter of Credit Reserve, minus (iv) such Reserves as Agent may deem proper and necessary shall determine from time to time in its Permitted Discretion. The amount derived from based on the sum results of the applicable Inventory Appraisals; (x) Sections 2.1(i) and (ii) minus (y) Sections 2.1(iii) and (iv) at any time and from time to time shall be the applicable advance rate regarding the related items of Eligible Inventory being generally referred to herein as the “Formula Amount.” The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.1.the

Revolving Advances. (a) Subject to the terms and conditions set forth in this AgreementAgreement including, without limitation, Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in an aggregate amount amounts outstanding at any time equal to such Lender’s Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of the Letter of Credit Reserve or (y) an amount equal to the sum ofof the following, each calculated as of the date on which Borrower’s request for such Revolving Advances shall have been made: (i) up to 9085%, subject to the provisions of Section 2.1(b) hereof (the “Receivables Advance Rate”), of Eligible Receivables, plus (ii) up to the lesser of (the “Inventory Advance Rate” and together with the Receivables Advance Rate, collectively, the “Advance Rates”) (A) 6575%, subject to the provisions of Section 2.1(b(b) hereofhereof (“Unbilled Receivables Advance Rate”), of Eligible Unbilled Receivables (the value of Receivables Advance Rate and the Eligible Inventory and Unbilled Receivables Advance Rate shall be referred to collectively, as the “Advance Rates”) or (B) 85% of $1,500,000 in the appraised net orderly liquidation value of Eligible Inventory (as evidenced by an Inventory appraisal conducted aggregate at such time and by such appraiser as shall be mutually satisfactory to Agent and Borrower)any one time, minus (iii) the amount of the Letter of Credit Reserve, minus (iv) such Reserves reserves as Agent may reasonably deem proper and necessary from time to time time, in its Permitted Discretioncommercially reasonable judgment. The amount derived from the sum of (x) Sections 2.1(i2.1(a) (y) (i) and (ii) minus (y) Sections 2.1(iiiSection (a)(y) and (iviii) at any time and from time to time shall be referred to as the “Formula Amount.” ”. The Revolving Advances shall be evidenced by one or more secured promissory notes (each, a “Revolving Credit Note” and collectively, the “Revolving Credit Note”) substantially in the form attached hereto as Exhibit 2.12.1(a).