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) $15,000,000 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.
Sample 1
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.
Sample 1

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.

  • If the Receivable Loan outstanding amount shall at any time exceed the Receivable Borrowing Base, the Borrower shall immediately prepay Advances in the amount equal to such excess, without notice or demand by the Lenders.

  • Accounts Receivable Borrowing Base Information and Related Documents........................................

  • Robust spatial sensing of mating pheromone gradients by yeast cells.

  • 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.

  • The two offices are the Bureau of Special Investigations (BSI) and the Office of Professional Responsibility.

  • Signature ---------------------------------------- Name: Title: Compliance Certificate EXHIBIT A - Page 1 of 1 EXHIBIT B Accounts Receivable Borrowing Base Certificate for Period Beginning: ___________ and Ending _____________ ("Current Period") Credit Agreement dated as of September 5, 2001 (the "Agreement") by and between Silicon Laboratories Inc..

  • All Eligible Notes Receivable included in the Notes Receivable Borrowing Base meet the criteria for Eligible Notes Receivable.

  • Any contract entered into pursuant to this RFP shall require the inclusion of the following, or substantially similar, terms.

  • 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 ninety percent (90%) of Eligible Receivables provided, however, the Receivable Borrowing Base shall not exceed Nine Million Dollars ($9,000,000.00).
Sample 1

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 as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • 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).

  • 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 has the meaning assigned to such term in the preamble of this 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%.

  • Borrower’s Account shall have the meaning set forth in Section 2.8.