Receivables Borrowing Base definition

Receivables Borrowing Base means, at the time of its computation, and up to the percentage specified in Item 1 of the Schedule, the aggregate amount of the outstanding Receivables in which the Agent for the benefit of the Lenders and itself as Agent has a first priority perfected security interest (adjusted with respect to Credits and returned merchandise as provided in Article 9 hereof) less the amount of Ineligible Receivables and any reserves established by the Agent in accordance with Section 2.1.
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Receivables Borrowing Base means at any time the product of (a) the aggregate unpaid principal balance at such time of the Borrowing Base Receivables, less all Holdbacks, multiplied by (b) ninety percent (90%).
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Receivables Borrowing Base means (a) the product of (i) the Advance Rate on such day, and (ii) the Aggregate Outstanding Balance of all Eligible Receivables forming part of the Collateral at the close of business on the Borrowing Base Determination Date, plus (b) in respect of the determination of the Receivables Borrowing Base pursuant to a Drawdown Notice, the Aggregate Outstanding Balance of all Eligible Receivables listed in the related Schedule of Contracts, minus (c) in respect of the determination of the Receivables Borrowing Base pursuant to a Repayment Notice, the Aggregate Outstanding Balance of all Eligible Receivables listed in the related Scheduled of Removed Contracts. For greater certainty with respect to clause (a) above, Receivables which are not Eligible Receivables on the Borrowing Base Determination Date shall not be included in the calculation of the Receivables Borrowing Base.
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Examples of Receivables Borrowing Base in a sentence

  • The amount of such reserves shall be subtracted from the Receivables Borrowing Base or Inventory Borrowing Base, as applicable, when calculating the amount of the Borrowing Capacity.

  • IEC Borrowing Capacity' at any time shall be the amount equal to the sum of up to 85% of the IEC Receivables Borrowing Base.

  • The Agent shall make appropriate adjustments to the Receivables Borrowing Base and the Inventory Borrowing Base to reflect the return of such Inventory.

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  • In addition to making appropriate adjustments to the Receivables Borrowing Base and the Inventory Borrowing Base to reflect the return of such Inventory, Secured Party may, in its sole discretion, request Debtor to pay Secured Party an amount equal to the consideration to have been paid for such Inventory by the Account Debtor, such payment to be applied directly to unpaid Advances.


More Definitions of Receivables Borrowing Base

Receivables Borrowing Base means the aggregate Collateral Value of all Servicer Advances. The Servicer Advances to be added to the Receivables Borrowing Base on any Advance Date (other than the initial Advance Date) shall be (a) those Protective Advances disbursed during the period from and including the second preceding Servicing Cut-off Date through but not including the related Servicing Cut-off Date immediately prior to the Advance Date and (b) those newly disbursed Delinquency Advances disbursed as of the date preceding the related Advance Date.
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Receivables Borrowing Base at any time means an amount equal to 80% of the face amount of all Eligible Receivables. In determining the Receivables Borrowing Base, receivables denominated in foreign currency will be calculated at their Equivalent Amount in Canadian Dollars at the date of determination and any receivable may be excluded in accordance with Section 2.1.4;
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Receivables Borrowing Base means, at the time of its computation, an amount up to 85% the aggregate amount of the outstanding Receivables of PMI (adjusted with respect to any discounts, allowances, credits, rebates, or adjustments granted by PMI with respect to such Receivables) less the amount of Ineligible Receivables and any reserves established by Senior Holder with respect thereto.
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Receivables Borrowing Base means, as of the date of determination thereof, an amount equal to the lesser of (a) $10,000,000.00 or (b) eighty-five (85%) percent of the base amounts owed on all Eligible Receivables as of such date.
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Receivables Borrowing Base means, with respect to any Borrower at any time, up to 85% of the Dollar Equivalent of the Loan Value of all Eligible Receivables of such Borrower at such time.
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Receivables Borrowing Base. Is an amount equal to the sum of (A) product of (i) 100% minus the Receivables Required Credit Support (expressed as a percentage of the Net Receivables Balance) and (ii) the Receivables Collateral Value, (B) the Receivables LC Amount including amounts drawn pursuant to Sections 3.27(d) and 3.27(e) of the Indenture and (C) the amount in the Reserve Account related to the Receivables (as determined in accordance with Section 8.7 of the Indenture).
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Receivables Borrowing Base is defined in the definition of "Borrowing Base".
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