US Inventory Advance Sublimit definition

US Inventory Advance Sublimit. “ shall mean the lesser of Fifteen Million and No/100 Dollars ($15,000,000.00) or fifty percent (50%) of the value of Eligible Inventory owned by Coast US; provided, however, that in no event shall the Inventory advances under the US Inventory Advance Sublimit plus advances under the Canadian Inventory Advance Sublimit exceed Seventeen Million Five Hundred Thousand and No/100 Dollars ($17,500,000.00), provided further that US Lender may reduce the lending formula with respect to Coast US’ Eligible Inventory in its Permitted Discretion.
Sample 1
US Inventory Advance Sublimit means the lesser of (i) Twelve Million Five Hundred Thousand and No/100 Dollars ($12,500,000.00) or (ii) (a) from June 1st of each year through January 31st of each following year, fifty percent (50%) of the value of Eligible Inventory owned by Coast US and (b) from February 1st of each year through May 31st of each year, fifty five percent (55%) of the value of Eligible Inventory owned by Coast US; provided, however, that in no event shall the Inventory advances under the US Inventory Advance Sublimit plus advances under the Canadian Inventory Advance Sublimit exceed Fifteen Million and No/100 Dollars ($15,00,000.00); provided further that US Lender may reduce the lending formula with respect to Coast US’ Eligible Inventory in its Permitted Discretion.
Sample 1
US Inventory Advance Sublimit means the lesser of (i) up to Fifteen Million and No/100 Dollars ($15,000,000.00) or (ii) (a) from June 1st of each year through January 31st of each following year, fifty percent (50%) of the value of Eligible Inventory owned by Coast US and (b) from February 1st of each year through May 31st of each year, fifty five percent (55%) of the value of Eligible Inventory owned by Coast US; provided, however, that in no event shall the Inventory advances under the US Inventory Advance Sublimit plus advances under the Canadian Inventory Advance Sublimit exceed Eighteen Million and No/100 Dollars ($18,000,000.00); provided further that US Lender may reduce the lending formula with respect to Coast US’ Eligible Inventory in its Permitted Discretion. Borrowers acknowledge that the amount of the Canadian Inventory Advance Sublimit as of the date hereof is Three Million Five Hundred Thousand and No/100 Dollars ($3,500,000.00) and the amount of the US Inventory Advance Sublimit as of the date hereof is Fourteen Million Five Hundred Thousand and No/100 Dollars ($14,500,000.00).
Sample 1

More Definitions of US Inventory Advance Sublimit

US Inventory Advance Sublimit means the lesser of (i) Fifteen Million and No/100 Dollars ($15,000,000.00) during the months of January, August, September, October, November and December; Sixteen Million and No/100 Dollars ($16,000,000.00) during the month of February; and Seventeen Million and No/100 Dollars ($17,000,000.00) during the months of March and July; and Eighteen Million and No/100 Dollars ($18,000,000.00) during the months of April, May, and June; (ii) fifty percent (50%) of the value of Eligible Inventory owned by Coast US; provided, however, that in no event shall the Inventory advances under the US Inventory Advance Sublimit plus advances under the Canadian Inventory Advance Sublimit exceed Fifteen Million and No/100 Dollars ($15,000,000.00) for the months of January, August, September, October, November and December; Sixteen Million and No/100 Dollars ($16,000,000.00) during the month of February; Seventeen Million and No/100 Dollars ($17,000,000.00) during the months of March and July; and Eighteen Million and No/100 Dollars ($18,000,000.00) during the months of April, May and June; provided further that US Lender may reduce the lending formula with respect to Coast US’ Eligible Inventory in its Permitted Discretion.
Sample 1
US Inventory Advance Sublimit means (i) from January 1 through June 30 of each year, the lesser of Twenty-Seven Million and No/100 Dollars ($27,000,000.00) or fifty-five percent (55%) of the value of Eligible Inventory owned by Coast US; provided, however, that in no event shall the Inventory advances under the US Inventory Advance Sublimit plus advances under the Canadian Inventory Advance Sublimit exceed Twenty-Eight Million and No/100 Dollars ($28,000,000.00) or (ii) from July 1 through December 31 of each year, the lesser of Twenty-Four Million Five Hundred Thousand and No/100 Dollars ($24,500,000.00) or fifty-five percent (55%) of the value of Eligible Inventory owned by Coast US; provided, however, that in no event shall the Inventory advances under the US Inventory Advance Sublimit plus advances under the Canadian Inventory Advance Sublimit exceed Twenty-Eight Million and No/100 Dollars ($28,000,000.00), provided further that Lender may reduce the lending formula with respect to Coast US’ Eligible Inventory to the extent that Lender determines that the nature and quality of the Inventory has deteriorated, provided further that in determining whether to reduce the lending formula(s), Lender may consider events, conditions, contingencies or risks which are also considered in determining Borrowers’ Eligible Inventory.
Sample 1

Related to US Inventory Advance Sublimit

  • Inventory Sublimit means the amount(s) set forth in Section 1(d) of Schedule A.

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

  • L/C Sublimit means an amount equal to $5,000,000. The L/C Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • L/C Issuer Sublimit means with respect to each L/C Issuer, such amount as may be separately agreed between such L/C Issuer and the Borrower from time to time (with specific notice of such amount, and any change thereto, with respect to each L/C Issuer being promptly communicated to the Administrative Agent), provided that the L/C Issuer Sublimit with respect to any Person that ceases to be an L/C Issuer for any reason pursuant to the terms hereof shall be $0 (subject to the Letters of Credit of such Person remaining outstanding in accordance with the provisions hereof).

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

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

  • Borrowing Base Amount means:

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

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

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Maximum Revolving Advance Amount means $25,000,000.

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

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Sublimit means the aggregate amount of Warehousing Advances (expressed as a dollar amount or as a percentage of the Warehousing Commitment Amount) that is permitted to be outstanding at any one time against a specific type of Eligible Loan.

  • Alternative Currency Sublimit means an amount equal to the lesser of the Aggregate Commitments and $50,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • 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:

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Foreign Borrowing Base means, as of any date, 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.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Maximum Swingline Amount means $5,000,000.