Examples of International Borrowing Base in a sentence
The Borrower and each Guarantor and the Bank shall have obtained all Governmental Approvals required for the making and carrying out of this Agreement, the issuance of Letters of Credit pursuant hereto and the issuance of the Note and the execution, delivery and performance of the applicable Export Order that is included in the International Borrowing Base.
The Bank may, on demand, inspect the documentation supporting any Weekly International Borrowing Base Certificate.
The inclusion of any receivable in the Weekly International Borrowing Base Certificate shall constitute a representation and warranty by the Borrower that such receivable is an Eligible Export-Related Accounts Receivable.
The Bank shall have timely received from the Borrower a duly executed and completed Request for Borrowing in respect of Loans to be made on such Borrowing Date, an International Borrowing Base Certificate dated within the past five (5) Business Days, and such other documents and certificates relating to the transactions herein contemplated as the Bank may reasonably request.
Each letter of credit or bank guaranty issued in favor of the Borrower with respect to the sale of Items related to Export Orders to be financed under this Agreement and included in the International Borrowing Base, if any, (a) shall be in form and substance reasonably satisfactory to the Bank, and (b) shall be issued in the manner required by the Bank by financial institutions reasonably acceptable to the Bank.
Without limitation of the foregoing, each Letter of Credit shall be issued only upon receipt of an International Borrowing Base Certificate current within the past five (5) Business Days.
Neither this Agreement nor any other document, certificate or statement furnished to the Bank by or on behalf of the Borrower or any Subsidiary or Guarantor in connection with this Agreement (including, without limitation, any Export Order or any International Borrowing Base Certificate) contains any statement of fact which is untrue or incorrect in any material respect or omits to state a fact necessary in order to make the statements contained herein and therein not misleading.
AVAILABILITY: Limited to the lesser of $35,000,000 ($30,000,000 against the Domestic Borrowing Base Amount and $5,000,000 against the International Borrowing Base Amount once all international collateral is perfected) or the most recently calculated Revolver Borrowing Base Amount as updated by the Borrowers for each successive two-week period, and subject to the Revolver Minimum Excess Availability requirements as defined in the Financial Covenant section below.
Export-related receivables and inventory no longer Eligible-which have previously been included in an International Borrowing Base Certificate and which remain as Collateral for the International Obligations.
Neither this Agreement nor any other document, certificate or statement furnished to the Bank by or on behalf of any Borrower or any Subsidiary of such Borrower or any Guarantor in connection with this Agreement (including, without limitation, any Export Order or any International Borrowing Base Certificate) contains any statement of fact which is untrue or incorrect in any material respect or omits to state a fact necessary in order to make the statements contained herein and therein not misleading.