Silicon based definition
Examples of Silicon based in a sentence
As used herein, “Cash/Excess Availability” shall mean (i) Borrower’s cash deposits maintained with Bank, plus (ii) Borrower’s excess “availability” under the Loan Agreement (net of Loans, Letters of Credit or other indebtedness due and owing by Borrower to Bank), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 of the Schedule to the Loan Agreement).
The Borrower shall at all times maintain $1,000,000.00 in (i) cash deposits maintained at Silicon, and/or (ii) excess "availability" under this Agreement (net of Revolving Loans, the Term Loan, Equipment Loan, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above).
The Borrower shall at all times maintain $1,000,000.00 in (i) cash deposits maintained at Silicon, and/or (ii) excess "availability" under this Agreement (net of Loans, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above).
The Advance Rate shall initially be determined by Silicon based on a field examination and audit with results acceptable to Silicon in its good faith business judgment.
Borrower shall maintain a Tangible Net Worth of not less than the sum of the following amounts at the following times: through December 31, 2003 $10,000,000; January 1, 2004 – March 31, 2004 $7,000,000; April 1, 2004 – June 30, 2004 $6,000,000; July 1, 2004 – September 30, 2004 $7,000,000; October 1, 2004 – December 31, 2004 $10,000,000; and At all times thereafter to be determined by Silicon based projections satisfactory to Silicon, due not less than thirty (30) days prior to year end.
Borrower shall at all times maintain (a) from the date of this Agreement through and including March 31, 2006, $1,500,000.00 and (b) from April 1, 2006 and thereafter, $1,750,000.00, in (i) unrestricted cash deposits maintained at Silicon, and/or (ii) excess “availability” under this Agreement (net of Loans, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above).
The Borrower shall at all times maintain $750,000.00 in (i) cash deposits maintained at Silicon, and/or (ii) excess “availability” under this Agreement (net of Loans, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above).
In addition, upon Intel's written request, Marvell agrees to use commercially reasonable efforts to develop an enhanced version of the Integrated Gb Silicon based on next generation Intel ***** Technology based on a new SOW, which will be developed and agreed upon by both parties for *****, assuming the ***** and the ***** NRE and QA conformance expenses.
The Borrower shall at all times maintain $500,000.00 in (i) cash deposits maintained at Silicon, and/or (ii) excess "availability" under this Agreement (net of Loans, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above).
On or before June 27, 2004, the Minimum Tangible Net Worth Financial Covenant will be reset for the compliance periods subsequent to June 27, 2004 by Silicon based on Borrower’s projected financial statements for such periods, such projected financial statements to have been approved by the Borrower’s Board of Directors and accepted jointly by Borrower and Silicon in their respective discretion.