Purchase Sublimit definition

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Purchase Sublimit means, with respect to each Account Debtor, the U.S. dollar or the Euros amount, as applicable, set forth on Schedule II to this Agreement as the Purchase Sublimit, as such Schedule may be modified or supplemented from time to time upon request of the Sellers, as approved in advance by the Administrative Agent and the Buyers in writing in their sole and absolute discretion in accordance with the terms of this Agreement (which request and approval may for purposes of this definition be in the form of e-mail communication).

Purchase Sublimit means, with respect to each Account Debtor, the dollar amount set forth on Schedule II to this Agreement as the “Purchase Sublimit,” as such Schedule may be modified or supplemented from time to time, as agreed to in writing by the Sellers and the Buyer in their respective sole and absolute discretion. “Purchased Receivables” has the meaning set forth in Section 1(a) hereof. “Receivable” means any right to payment of a monetary obligation, whether or not earned by performance, owed to any Seller or the Buyer (as assignee of Seller) by an Account Debtor, whether constituting an account, instrument, document, contract right, chattel paper, payment intangible or general intangible, in each instance arising in connection with the sale of goods that have been or are to be sold or for services rendered or to be rendered, and includes, without limitation, the obligation to pay any finance charges, fees and other charges with respect thereto, together with the Seller’s rights in all Related Security with respect thereto, and with respect to each of the foregoing, all Collections and proceeds thereof. Any such right to payment arising from any one transaction, including any such right to payment represented by an individual invoice or agreement, shall constitute a Receivable separate from a Receivable consisting of any such right to payment arising from any other transaction. Exhibit A- 6 734109631 19632855

Examples of Purchase Sublimit in a sentence

In addition to Section 4.2 above, Borrower will repay all advances under the Equipment Purchase Sublimit in thirty-six (36) equal and consecutive monthly installments of principal, commencing on the first anniversary of the date of the first draw under the Equipment Purchase Sublimit and continuing on the same day of each of the next thirty-five (35) consecutive months.
Advances under the Equipment Purchase Sublimit shall be in an amount not to exceed eighty percent (80%) of the invoiced purchase price (exclusive of taxes, license, freight/shipping and installation costs) for the items of equipment in respect of which such advance is being made.
If no advance is made under the Equipment Purchase Sublimit on or before March 10, 1998 (the period from the date hereof through and including March 10, 1998 being the "Initial Draw Period"), the Equipment Purchase Sublimit will no longer be available to Borrower.
Provided that no Event of Default shall have occurred and be continuing, such refund will be made by application of the excessive amount of interest paid against the outstanding principal balance of the Line (excluding that portion outstanding under the Equipment Purchase Sublimit).
Borrower agrees to use advances under the Line (a) to repay existing Indebtedness in an aggregate amount of approximately Twenty-One Million Six Hundred Thousand Dollars ($21,600,000.00) owed by Borrower to SunTrust Bank, Central Florida, National Association and SouthTrust Bank of Alabama, National Association, (b) for working capital purposes, and (c) with respect to advances under the Equipment Purchase Sublimit, the purchase of equipment for use in Borrower's operations.
If an advance is made under the Equipment Purchase Sublimit during the Initial Draw Period, the unfunded balance of the Equipment Purchase Sublimit will remain available to Borrower for the twelve (12) month period following the date of the first such advance thereunder.
In addition, each request for an advance under the Equipment Purchase Sublimit must be for an amount equal to at least Fifty Thousand Dollars ($50,000.00) (provided that no request for such an advance shall include any individual item with a cost to Borrower of less than Twenty Thousand Dollars ($20,000.00)), and no more than four (4) total advances will be made thereunder.
For Revolving Sublimit and Installment Purchase Sublimit, when calculating the Interest for using the Loan, the actual number of days per month (according to the calendar) is taken into account, with the year being taken as equal to three hundred and sixty calendar days.
Advances under the Equipment Purchase Sublimit shall be repaid in accordance with the terms of Section 4.3 below.
Notwithstanding anything herein to the contrary, the total combined amount outstanding under the Letter of Credit Sublimit, the Cash Management Sublimit, the FX Sublimit and the Receivables Purchase Sublimit may not exceed a combined total of $25,000,000 (the ‘Overall Sublimit’).

More Definitions of Purchase Sublimit

Purchase Sublimit. The dollar amount concentration limits set forth in Schedule II hereto with respect to the applicable Account Debtor.

Purchase Sublimit. The dollar amount set forth in Schedule I or Schedule II hereto with respect to the applicable Account Debtor.

Purchase Sublimit has the meaning set forth in Section 2.1.5.

Purchase Sublimit. With respect to any Account Debtor, the dollar amount as agreed upon by Seller Representative and Purchaser with respect to such Account Debtor.

Purchase Sublimit means, with respect to each Approved Account Debtor, the U.S. dollar amount set forth on Schedule I to this Agreement as the Purchase Sublimit, as such Schedule may be modified or supplemented from time to time, as approved in advance by the Administrative Agent in writing in its sole and absolute discretion in accordance with the terms of this Agreement. “Purchased Receivables” has the meaning set forth in Section 1(b) hereof. “Purchaser” has the meaning set forth in the preamble hereto. “Purchaser’s Facility Share” shall mean, with respect to any Purchaser, (i) if appearing below, the amount set forth opposite such Purchaser’s name below, or as such amount is modified from time to time, and (ii) with respect to any other Purchaser, in the applicable Purchaser Joinder under which it becomes a Purchaser hereunder, as such amount is modified from time to time.