EXIM Borrowing Base definition

EXIM Borrowing Base means an amount equal to 90% of Eligible Export-Related Accounts plus 75% of Eligible Export-Related Inventory, as determined by Bank with reference to the most recent Export Related Borrowing Base Certificate delivered by Borrower; provided, however that Eligible Export-Related Inventory shall not exceed sixty percent (60%) of the aggregate EXIM Borrowing Base.

EXIM Borrowing Base means at any time (i) the EXIM Eligible Receivable Amount multiplied by the applicable Advance Rate, minus (ii) such reserves as Lender may deem proper and necessary from time to time.

EXIM Borrowing Base is (a) ninety percent (90%) of Hedged Eligible EXIM Accounts plus (b) seventy percent (70%) of all other Eligible EXIM Accounts plus (c) the lesser of sixty-five percent (65%) of the value of Export-Related Inventory (valued at the lower of cost or wholesale fair market value) or One Million Dollars ($1,000,000); in each case as determined by Bank from Borrower’s most recent EXIM Borrowing Base Certificate; provided, however, that Bank may decrease the foregoing amounts and/or percentages in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect Collateral.

Examples of EXIM Borrowing Base in a sentence

• Except as otherwise provided herein (including pursuant to Section 2.7), Borrower shall comply with all of the terms of the Borrower Agreement, including without limitation, the delivery of an EXIM Borrowing Base Certificate on the last Business Day of each week (monthly, within fifteen (15) days after the end of each month during a Streamline Period), and with each request for a Credit Extension, including, without limitation, any and all notices required pursuant to the Borrower Agreement.

• Together with such notification, Borrower must promptly deliver to Bank by electronic mail or facsimile a completed EXIM Borrowing Base Report (if required) executed by a Responsible Officer or his or her designee.

• Borrower shall deliver all reports, certificates and other documents to Bank as provided in the EX-IM Borrower Agreement, including, without limitation, within thirty (30) days after the last day of each month, an EX-IM Borrowing Base Certificate on a monthly basis as described on Exhibit C hereof, purchase orders and any other information that Bank and EX-IM Bank may reasonably request.

• Borrower shall deliver all reports, certificates and other documents to Bank as provided in the EX-IM Borrower Agreement, including, without limitation, an EX-IM Borrowing Base Certificate on a monthly basis as described on Exhibit C hereof, purchase orders and any other information that Bank and EX-IM Bank may reasonably request.

• Subject to the terms and conditions of this Agreement, from the Closing Date until the earlier of the EXIM Maturity Date or the Termination Date, Lender will make advances (each, an “EXIM Advance”) to Borrower not exceeding the EXIM Credit Limit or the EXIM Borrowing Base, whichever is less; provided, that in no event shall Lender be obligated to make any EXIM Advance that results in an Overadvance or while any Overadvance is outstanding.

More Definitions of EXIM Borrowing Base

EXIM Borrowing Base is (a) eighty-five percent (85%) of Eligible EXIM Accounts, plus (b) sixty-five percent (65%) of Eligible EXIM Inventory, but in any event not to exceed the lesser of (a) One Million Dollars ($1,000,000) or (b) sixty percent (60%) of all the EXIM Borrowing Base; provided however, that Bank may decrease the foregoing amount and/or percentages in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect the Collateral. For purposes of determining the EXIM Borrowing Base, the value ascribed to the Eligible EXIM Inventory will be the Export-Related Historical Inventory Value (as such term is defined in the Borrower Agreement) of the Borrower’s Inventory.

EXIM Borrowing Base means at any time the sum of (i) the EXIM Eligible Receivable Amount multiplied by the applicable Advance Rate, minus (ii) such reserves as Lender may deem proper and necessary from time to time.

EXIM Borrowing Base shall have the meaning set forth in the Exim Loan Documents.

EXIM Borrowing Base means the sum of the following for all Account Debtors:

EXIM Borrowing Base means the “Borrowing Base” under and as defined in the EXIM Credit Agreement.

EXIM Borrowing Base is defined in the definition of "Borrowing Base" set forth in this Section 13.1. "Exim Borrowing Base Certificate" is a Exim Borrowing Base Certificate in the form of Exhibit C. "Exim Committed Line" is an Exim Advance of up to $10,000,000, pursuant to Section 2.1.1(a)(2).

EXIM Borrowing Base means an amount not to exceed the lesser of (i) $1,000,000 or (ii) 90% of Eligible EXIM Accounts with terms less than 90 days and that are supported by a purchase order, plus the lower of $500,000 (or 80% of Credit Extensions based on the EXIM Borrowing Base during the three months following the Effective Date or 60% thereafter) or up to 50% of the lower of the cost or market value of Borrower’s Eligible EXIM Inventory; provided that, Bank may decrease the foregoing percentages in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect Collateral. “EXIM Borrowing Base Certificate” is that certain certificate in the form attached hereto as Exhibit F.