Receivable Borrowing Base definition

Receivable Borrowing Base set forth in Section 1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
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Receivable Borrowing Base means at any time the lesser of (a) $20,000,000 or (b) the sum of (i) ninety percent (90%) of the Borrower's Eligible Retail Receivables; (ii) eighty-five percent (85%) of the Borrower's Eligible Store Receivables; (iii) seventy-five percent (75%) of the Borrower's Eligible Foreign Receivables; and (iv) the lesser of (A) seventy-five percent (75%) of the Borrower' Eligible Repossessed Inventory or (B) the sum of $500,000.
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Receivable Borrowing Base means ninety percent (90%) of Eligible Receivables provided, however, the Receivable Borrowing Base shall not exceed Nine Million Dollars ($9,000,000.00).
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Examples of Receivable Borrowing Base in a sentence

  • Accounts Receivable Borrowing Base: 80% of Eligible Accounts of from time to time outstanding, plus the lesser of $3,500,000 or 80% of the Eligible Foreign Accounts of Strategies, Physics, MXL Industries, Inc.

  • Eligible Accounts Receivable Borrowing Base Amount [Item 4.D. from Annex 1a attached hereto] $______________ B.

  • Borrowing Base: (i) Accounts Receivable Borrowing Base; plus (ii) the Marketable Securities Borrowing Base; plus (iii) the Overadvance Amount (as reduced from time to time).

  • By Name Title of Borrower Exhibit D to Credit Agreement (Borrowing Base Certificate) Xxxxxxx Xxxxx Capital Accounts Receivable Borrowing Base Report Xxxxxxx Xxxxx Capital BBR Date: August 19, 2004 Report #: July 31, 2004 Name: Reliant Pharmaceuticals, Inc.

  • Like many other activities, also the software maintenance process consists of steps and activities which involve roles, actors, and resources.

  • Debtor shall pay to Secured Party with each such accounting an amount equal to the aggregate of such reductions of the Receivables Borrowing Base resulting therefrom, such payment to be applied directly to Advances unless Secured Party, in its sole discretion, waives its right to such payment where, after such reductions of the Receivable Borrowing Base, the total outstanding Advances to Debtor under this Agreement do not exceed the Borrowing Capacity as then computed.

  • There are reports that have been developed that outline estimated costs of climate change, as well as the processes used to develop those estimates.

  • The Receivable Borrowing Base will be reduced by the amount of all credits reflected in an accounting required by Section 9.2(b) and may, in the sole discretion of Secured Party, be reduced by the full amount of any Receivable for which Extensions were granted.

  • Borrower will not permit the aggregate outstanding principal balance of all Revolving Credit Loans to exceeds the applicable Accounts Receivable Borrowing Base and the applicable Real Estate Borrowing Base then in effect.

  • Subject to the Conditions of Lending set forth in Section 4 hereof, each Lender may, in its sole discretion, make Advances to the Borrower up to its Receivable Commitment from time to time from the date of this Credit Agreement through the Termination Date; provided, however, that such Lender shall not consider making any such Advance, if after giving effect to such Advance, the aggregate outstanding principal amount of all Advances would exceed the then current Retail Receivable Borrowing Base.


More Definitions of Receivable Borrowing Base

Receivable Borrowing Base means, at any time, the lesser of (a) $20,000,000 or (b) the sum of (i) ninety percent (90%) of the Borrower's Eligible Retail Receivables; (ii) eighty percent (80%) of the Borrower's Non-Eligible Receivables; plus (iii) eighty-five percent (85%) of all Eligible Store Receivables all as determined in accordance with GAAP, as set forth on the most recent Retail Receivable Borrowing Base Certificate required to be submitted hereunder.
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Related to Receivable Borrowing Base

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Eligible borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • Borrowing Base Amount means:

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Borrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form of Exhibit C or another form which is acceptable to the Administrative Agent in its sole discretion.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • Credit Card Advance Rate means 90%.

  • Applicable Borrower means, with respect to any Loan or other amount owing hereunder or any matter pertaining to such Loan or other amount, whichever of the Borrowers is the primary obligor on such Loan or other amount.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.