Current Asset Base definition

Current Asset Base shall have the meaning given such term set forth in Subsection 2.4.

Current Asset Base means the following with respect to the Borrower specified:

Current Asset Base means (i) up to eighty-five (85%) of the face amount (less maximum discounts, credits and allowances which may be taken by or granted to Account Debtors in connection therewith) then outstanding under existing "Eligible Accounts" (as defined in Subsection 3.2 hereof), less such other reserves as Agent in its sole discretion and in Good Faith elects to establish; plus (ii) the lesser of $500,000 and an amount equal to the sum of (X) up to sixty-five percent (65%) of Deco's existing Eligible Inventory constituting Stock Inventory and (Y) up to thirty percent (30%) of Deco's existing Eligible Inventory constituting Parts Inventory, in each case valued at the lower of cost, determined on a first-in, first-out basis, or market, less obsolescence reserves and such other reserves as Agent in its sole discretion and in Good Faith elects to establish.

Examples of Current Asset Base in a sentence

• In addition, subject to Subsection 2.4(B), if the sum of (i) aggregate balance of the unpaid principal amount of the Revolving Loans, plus (ii) the aggregate amount of all Letter of Credit Obligations outstanding at any time, is in excess of the Current Asset Base, such excess shall be immediately due and payable without the necessity of any demand.

• Notwithstanding the foregoing, except as expressly provided in subsection 2.2, the aggregate amount of the Revolving Loans outstanding at any time shall not exceed the Current Asset Base minus the aggregate Lender Guaranty Reserve attributable to WQMC and Cusco.

• Lender may make available for Borrower's use from time to time during the Term of this Agreement certain loans and other financial accommodations (the "Total Facility"), as requested by Borrower in accordance with the terms hereof, in amounts determined by Lender in its sole and absolute discretion, up to a maximum principal amount at any time outstanding equal to the Current Asset Base.

• Subject to the provisions of Section 4 below, Lender shall advance to Borrower on a revolving credit basis (the "Revolving Loan"), the lesser of (i) the Maximum Revolving Facility Amount minus the sum of the undrawn face amount of all Letters of Credit outstanding at the time any particular advance is made or (ii) the "Current Asset Base" (as defined below).

• Subject to Subsection 2.4(B), the aggregate unpaid principal amount of the Revolving Loans shall not in the aggregate exceed at any time the lesser of (A) Total Revolving Commitments then in effect, minus the aggregate amount of all Letter of Credit Obligations, or (B) the Current Asset Base (as defined below).

More Definitions of Current Asset Base

Current Asset Base shall have the meaning ascribed thereto in subsection 2.1.

Current Asset Base means (i) up to eighty-five percent (85%) of the face amount (less maximum discounts, credits and allowances which may be taken by or granted to Account Debtors in connection therewith) then outstanding under existing "Eligible Accounts" (as defined in Subsection 3.2 hereof), less such other reserves as Agent in its sole discretion and in Good Faith elects to establish; plus (ii) the lesser of the "Rail Inventory Sublimit" (as hereinafter defined) and an amount equal to the sum of (X) up to sixty-five percent (65%) of Rail's existing "Eligible Inventory" (as defined in Subsection 3.10 hereof), other than work-in-process and Fixed Overhead Inventory of Rail, valued at the lower of cost, determined on a first-in, first-out basis, or market, less obsolescence reserves and such other reserves as Agent in its sole discretion and in Good Faith elects to establish, plus (Y) the sum of the following for each plant of Rail, the lesser of the "Work-in-Process Inventory Sublimit" (as hereinafter defined) for such plant and up to sixty percent (60%) of Rail's existing Eligible Inventory at such plant consisting of work-in-process (but excluding Fixed Overhead Inventory of Rail), valued at the lower of cost, determined on a first-in, first-out basis, or market, less obsolescence reserves and such other reserves as Agent in its sole discretion and in Good Faith elects to establish, plus (Z) up to sixty percent (60%) of Rail's existing Eligible Inventory consisting of Fixed Overhead Inventory of Rail, valued at the lower of cost, determined on a first-in, first-out basis, or market, less such reserves as Agent in its sole discretion and in Good Faith elects to establish, minus (iii) the Letter of Credit Obligations with respect to Letters of Credit issued for the account of Rail, minus (iv) the CAPEX Reserve, and plus (v) $10,000,000; and

Current Asset Base means an amount equal to:

Current Asset Base shall have the meaning ascribed thereto in subsection 2.1 hereof.

Current Asset Base means the Issuer's asset base (consolidated balance sheet for the Group) as of the Issue Date, being:

Current Asset Base. Eligible Accounts" or "Eligible Inventory", except as provided by subsections 3.3 and 3.10;

Current Asset Base means AT ANY TIME AN AMOUNT EQUAL TO THE SUM AT SUCH TIME OF: