Examples of Exim Eligible Foreign Accounts in a sentence
Notwithstanding the foregoing, it is expressly acknowledged and agreed that the security interest created in this Exim Agreement in all of the Collateral (with the exception of Exim Eligible Foreign Accounts, but only to the extent any Advances are actually made by the Bank to the Borrower based upon such Exim Eligible Foreign Accounts), is subject to and subordinate to the security interest granted to the Bank in the Domestic Agreement with respect to the Collateral.
Notwithstanding the foregoing, it is expressly acknowledged and agreed that the security interest created in this Agreement, only with respect to Exim Eligible Foreign Accounts (as such term is defined in the Exim Agreement), is subject to and subordinate to the security interest granted to Silicon in the Exim Agreement with respect to such Exim Eligible Foreign Accounts, but only to the extent any advances are actually made to the Borrower based upon such Exim Eligible Foreign Accounts.
The Exim Eligible Foreign Accounts are bona fide existing obligations.
For purposes of this Agreement, Borrowing Base means an amount equal to the sum of (i) ninety percent (90%) of Exim Eligible Foreign Accounts plus (ii) fifty percent (50%) of the Exim Eligible Foreign Inventory.
For purposes of this Exim Agreement "Borrowing Base" shall mean an amount equal to ninety percent (90%) of the Exim Eligible Foreign Accounts.