Revolving Loan Borrowing Base means, as at any date of determination thereof, an amount equal to the lesser of (i) the amount then available under the Revolving Credit Commitment and (ii) an amount equal to the sum of (A) eighty-five percent (85%) of the net amount of Eligible Accounts Receivable outstanding at such date and (B) fifty percent (50%) (the "Inventory Advance Rate") of Eligible Inventory at such date; provided, however, that the aggregate amount of advances for Eligible Inventory under the Revolving Credit Commitment shall not exceed $6,500,000 at any time.

Revolving Loan Borrowing Base means, on any date of determination shall mean, on any date of determination, an amount equal to the product of (a) the applicable Revolving Loan Advance Rate in effect as of such date, multiplied by (b) the aggregate amount of the Revolving Loan Forecasted Net Collections in respect of all Revolving Loan Financed Eligible Portfolios on such date. For the avoidance of doubt, no Term Loan Forecasted Net Collections nor any Delayed Draw Term Loan Forecasted Net Collections shall be, or be deemed to be, Revolving Loan Forecasted Net Collections or be included in the determination of the Revolving Loan Borrowing Base.

Revolving Loan Borrowing Base means, as of any date of determination:

Examples of Revolving Loan Borrowing Base in a sentence

It is understood that the determination of the maximum principal amount of the Loans shall be made without regard to the components of the Revolving Loan Borrowing Base based upon Eligible Accounts and Eligible Inventory and the component of the Equipment Loan Borrowing Base based upon Eligible Equipment.
The indebtedness of Borrower by virtue of the making of any Revolving Loan or Equipment Loan shall not exceed the Revolving Loan Borrowing Base or the Equipment Loan Borrowing Base, respectively.
Within the limits of the Revolving Loan Borrowing Base and the Revolving Loan Term, so long as Borrower is in compliance with all of the terms and conditions of this Agreement and no Defaulting Event has occurred, Borrower may request borrowings and may repay and request reborrowings of Revolving Loans.
In addition to the other requirements set forth herein, no Real Property shall be included or remain in the Revolving Loan Borrowing Base as Eligible Real Property unless all of the following conditions have been satisfied and continue to be satisfied with respect to such Real Property: 9.
If, at any time, the aggregate principal amount of all outstanding Revolving Loans shall exceed the Revolving Loan Borrowing Base, then any such excess amount shall, without limiting any other rights or remedies of Lender hereunder, be immediately paid by Borrower to the Lender.

More Definitions of Revolving Loan Borrowing Base

Revolving Loan Borrowing Base means, as of any date of determination: (a) an amount equal to the sum, without duplication, on such date of: (i) 100% of the amounts (excluding commissions included in clause (b) of the definition of Eligible Receivables) owing to the Dealerships in which the Agent has a perfected first priority security interest, which are owed to the Dealerships by financial institutions or finance companies which are not Affiliates of any Loan Party for the purchase by such institutions of retail installment contracts and leases arising from the sale or lease of New Vehicles and Used Vehicles (contracts in transit), which have not remained unpaid for more than 15 days. (ii) 80% of the amount of Eligible Receivables.

Revolving Loan Borrowing Base and "Revolving Note" appearing in Paragraph 1.1 of the Agreement are hereby amended and restated to read as follows:

Revolving Loan Borrowing Base means: an amount equal to the lesser of: (i) Five Million Dollars ($5,000,000) or (ii) an amount equal to the aggregate of (1) eighty-five percent (85%) of Eligible Accounts plus (2) thirty percent (30%) of Eligible Inventory; provided, however, that at no time shall eighty-five percent (85%) of Eligible Accounts be less than fifty percent (50%) of the aggregate outstanding principal amount of the Revolving Loan.

Revolving Loan Borrowing Base means, as at any date of determination thereof, an amount which is the sum of:

Revolving Loan Borrowing Base set forth in Section 1.1 of the Loan Agreement, as amended, is amended and restated in its entirety as follows: REVOLVING LOAN BORROWING BASE - Subject to the provisions of Section 2.3(B) of this Agreement, an amount equal to the lesser of the following amounts:

Revolving Loan Borrowing Base means, at any time, the sum of: (a) 80% of the face amount of the Eligible Accounts, less unapplied cash; and (b) the lesser of (i) 40% of the value of the Eligible Inventory and (ii)

Revolving Loan Borrowing Base means the sum of (a) 85% of the difference of (i) the value of the Credit Parties’ Eligible Accounts minus (ii) the aggregate unpaid amount of any state fuel excise taxes payable by the Credit Parties, plus (b) the lesser of (i) 50% of the value of the Credit Parties’ Eligible Inventory and (ii) an amount equal to 50% of the Credit Parties’ Eligible Accounts, plus (c) the lesser of (i) 66% of the fair market value (such fair market value determined by a method consistent with the method utilized to determine the fair market value of the properties included in the Sale-Leaseback) of the Credit Parties’ Eligible Real Property, (ii) 50% of the total Revolving Loan Commitments then in effect, and (iii) the sum of the amounts determined pursuant to clauses (a) and (b) of this definition, minus (d) such reserves as the Agents may establish from time to time in their reasonable credit judgment acting in good faith. Upon receipt of each Borrowing Base Certificate, the Revolving Loan Borrowing Base reflected therein shall be in effect until receipt of the next Borrowing Base Certificate.