Advance Limits Sample Clauses

Advance Limits. Notwithstanding the foregoing, (a) in no event shall the total of all Advances to and all other Obligations of Providers to Heller ▇▇▇▇▇▇nding at any one time exceed the lesser of the Total Advance Limit or the Revolving Credit Base, (b) in no event shall the total of all Advances outstanding against Private Pay Claims of Provider exceed the Private Pay Advance Limit, (c) in no event shall Advances against Eligible Inventory exceed fifty percent (50%) of Eligible Inventory, and (d) in no event shall Advances against Eligible Commercial Claims, Government Claims, and Private Pay Claims exceed ninety-five percent (95%) of the net amount of the Estimated Insured Value of such Claims, in each case, less any applicable reserves established by Heller p▇▇▇▇▇▇t to Section 1.4 B._ 3. Subsection 1.1 D. of the Agreement is amended by deleting that subsection in its entirety and inserting the following in lieu thereof:

Advance Limits. The aggregate amount of credit available under each Receivable for all of Franchisee’s Stores that have been open for business for fifteen (15) months or more (notwithstanding the amount of such Franchisee’s Credit Limit(s), in the case of a Line of Credit) including the Credit Limit for such Stores plus each Term Loan related to such Stores shall be limited to the product of the Franchisee’s Average Monthly Revenue for all Stores that have been open for business for fifteen (15) months or more multiplied by five (the advance limit established for such Franchisee’s Stores is referred to herein as the “Advance Limit”). For purposes of this Agreement, a Franchisee’s “Average Monthly Revenue” shall mean the average monthly total revenue of the Franchisee (excluding sales tax and excluding revenues from Stores open for business less than fifteen months) from the sale, lease or rental of Inventory and other customary fees, calculated in accordance with generally accepted accounting principles applied on a consistent basis, for the three calendar months preceding the most recent periodic review of such Franchisee’s Receivable. Notwithstanding anything in this section to the contrary, if the Advance Limit established pursuant to this section for Stores that have been open for business for fifteen (15) months or more would otherwise be an amount that is less than the then outstanding balance of such Receivable for such Stores (each such Receivable is referred to herein as an “Overline Receivable”), the Advance Limit for such Overline Receivable will be set at the then outstanding balance thereof, and such Overline Receivable will continue to be administered as provided herein, unless Lender and ColorTyme agree otherwise. The Advance Limit for a Franchisee may be temporarily increased (up to a maximum amount equal to the product of the Franchisee’s Average Monthly Revenue for all Stores that have been open for business for fifteen (15) months or more multiplied by eight) for a specified period with the consent of ColorTyme. The Advance Limit for each Store that has not been open for business for fifteen (15) months or more shall be the Credit Limit for such Store plus any Term Loan(s) related to such Store.”

Advance Limits. Notwithstanding the foregoing, in no event shall the total of all Advances to Provider and all other Obligations of Provider to CHF outstanding at any one time exceed the lesser of the Total Advance Limit or the Revolving Credit Advance Ceiling (except as set forth in Subsection 2.1.3.1.1).

Advance Limits. The aggregate amount of credit available under each Receivable for all of Franchisee’s Stores that have been open for business for one (1) year or more (notwithstanding the amount of such Franchisee’s Credit Limit(s), in the case of a Line of Credit) including the Credit Limit for such Stores plus each Term Loan related to such Stores shall be limited to the product of the Franchisee’s Average Monthly

Advance Limits. The Maximum Credit and each Type Sublimit shall be as set forth in the Loan Terms Letter.

Advance Limits