Advance Limit definition

Advance Limit shall have the meaning specified in Section 3.02(b) of the Receivables Purchase Agreement.

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Advance Limit means the loans or Advances which the Lender may, from time to time when requested by Borrower make to Borrower, and which shall not in the aggregate at any time exceed the lesser: (i) $5,000,000.00; or (ii) the product of eighty-five (85%) percent multiplied by the aggregate remaining principal balance of the Acceptable Contracts in which Lender is granted a security interest hereunder.

Advance Limit means the maximum amount You are entitled for Advances and this forms part of Your Credit Limit.

Examples of Advance Limit in a sentence

• We may, at our option, extend credit under the Account which exceeds the Credit Limit or the Cash Advance Limit.

• We are not obligated to allow any Purchase, Cash Advance or Balance Transfer which will exceed your Credit Limit or Cash Advance Limit, and if we do, we are not obligated to do so at a later time.

• You agree we may change your Credit Limit (which will automatically also change your Cash Advance Limit) or cancel the Account if you exceed the Credit Limit or the Cash Advance Limit.

• You agree not to use or permit others to use the Card, information from the Card, or a Credit Device if such use would cause either (i) the balance of the Account to exceed the Credit Limit we set from time to time or (ii) the balance of the outstanding Cash Advances to exceed the Cash Advance Limit applicable to such Credit Limit.

• The Credit Limit and Cash Advance Limit are shown on page 1 of Part 1 and on each billing statement.

More Definitions of Advance Limit

Advance Limit means $200,000,000.

Advance Limit. As defined in Section 3.2(a).

Advance Limit shall have the meaning specified in Section 3.2(b). -------------

Advance Limit means, at any date of determination thereof, an amount equal to the lesser of (i) Four Million and 00/100 ($4,000,000.00) Dollars or (ii) the sum of (1) eighty (80%) percent of the face amount of the Borrower's Eligible Accounts Receivable plus (2) fifty (50%) percent of the face amount of the Borrower's Eligible Inventory plus twenty-five (25%) of the value of the Borrower's Eligible PP & E.

Advance Limit means the amount of the Revolving Loan which the Lender may, in its sole and absolute discretion, from time to time make to Borrower, up to the lesser of One Million Dollars ($1,000,000) or 85% of the principal amount of the Borrower's "Eligible Receivables" (as hereinafter defined).

Advance Limit means, as of any date, the lesser of (a) the Borrowing Base on such date and (b) the aggregate Commitments, as such amounts may be increased or decreased in accordance with the terms and provisions of this Agreement.

Advance Limit means the loans or advances which Lender may make to the Borrower pursuant to this Agreement which are not in the aggregate at any time outstanding to exceed the lesser of Four Million Nine Hundred Thousand ($4,900,000.00) Dollars or the sum of (A), (B) and (C) below: (A) Up to eighty (80%) percent of the face amount of the Borrower's "Qualified Accounts" as that term is defined in this Agreement; plus (B) up to the lesser of (i) $750,000.00 or (ii) seventy-five (75%) percent of the Borrower's "Qualified Foreign Accounts" as that term is defined in this Agreement; plus (C) up to the lesser of (i) $2,500,000.00, or (ii) fifty (50%) percent of the "Net Value of Qualified Inventory" as that term is defined in this Agreement, with a sub-limit not to exceed the lesser of $1,000,000.00 or the sum of (x) the full unpaid and outstanding balance of any standby letters of credit or bankers acceptances which Lender in its sole and absolute discretion may issue on account of the Borrower plus (y) fifty (50%) percent of the unpaid and outstanding balance of any documentary letters of credit issued on account of the Borrower for the purchase of Inventory in the ordinary course of business which Lender in its sole and absolute discretion may issue on account of the Borrower, with a further sub-limit not to exceed $250,000.00 of the “Net Value of Qualified In-Transit Inventory” as that term is defined in this Agreement, or (iii) sixty (60%) percent of the maximum amount available to be loaned or advanced pursuant to Section 1.1(b); less (D) any reserves established by Lender pursuant to Section 1.1(f) hereof. Section 1.1 (c)