Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 or (2) 57.750% of the aggregate amount of Eligible Accounts.
Appears in 2 contracts
Sources: Business Loan Agreement (Asset Based) (Electromed, Inc.), Business Loan Agreement (Asset Based) (Electromed, Inc.)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($2,500,000.00 6,000,000) or (2) 57.750% seventy-five percent (75%) of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]).
Appears in 2 contracts
Sources: Business Loan Agreement (Rainmaker Systems Inc), Business Loan Agreement (Rainmaker Systems Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 300,000.00 or (2) 57.75075.000% of the aggregate amount of Eligible Accounts.
Appears in 2 contracts
Sources: Business Loan Agreement (NANOPHASE TECHNOLOGIES Corp), Business Loan Agreement (Nanophase Technologies Corporation)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 6,300,000.00; or (2b) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 2 contracts
Sources: Loan Agreement (Pacific Aerospace & Electronics Inc), Loan Agreement (Pacific Aerospace & Electronics Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 1,500,000.00 or (2) 57.75080% of the aggregate amount of Eligible Accounts.
Appears in 2 contracts
Sources: Business Loan Agreement (TSS, Inc.), Business Loan Agreement (Asset Based) (TSS, Inc.)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 1,000,000.00 or (2) 57.750the sum of (a) 75.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory ( not to exceed in corresponding Loan amount based on Eligible Inventory $250,000.00).
Appears in 1 contract
Sources: Change in Terms Agreement (Titan Energy Worldwide, Inc.)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 30,000,000.00; or (2b) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Loan Agreement (Labor Ready Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 5,000,000.00 or (2) 57.750the sum of (a) 85.000% of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts $5,000,000.00), plus (b) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $2,500,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (Pinnacle Data Systems Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 3,000,000.00 or (2) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Computer Software Innovations Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 6,000,000.00 or (2) 57.750the sum of (a) 85.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Ocean Bio Chem Inc)
Borrowing Base. The words “"Borrowing Base” mean, " mean as determined by Lender from time to time, the lesser of (1) $2,500,000.00 6,000,000.00 or (2) 57.75075.000% of the aggregate amount of Eligible AccountsAccounts Receivable related to payments due under all other contracts (Commercial Accounts Receivable) and 75.000% of those Eligible Accounts Receivable related to payments due under contracts with the United States Government for which the Borrower is the primary contractor less the balance outstanding under the term loan #4504027502.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 1,000,000.00; or (2b) 57.750the sum of (i) 75.000% of the aggregate amount of Eligible Accounts, plus (ii) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 950,000.00; or (2b) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Loan Agreement (Vital Images Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of ([1) ] $2,500,000.00 5,000,000.00 or (2) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Versant Corp)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 6,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Borrowing Base. The words “Words "Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 3,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts $3,000,000.00), plus (b) 50,000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $3,000,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (CyDex Pharmaceuticals, Inc.)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 6,000,000.00; or (2b) 57.750the sum of (c) 80.000% of the aggregate amount of Eligible Accounts, plus (ii) 55.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible inventory $5,000,000).
Appears in 1 contract
Sources: Loan Agreement (Phillips R H Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 60,000,000.00; or (2b) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Loan Agreement (Labor Ready Inc)
Borrowing Base. The words “"Borrowing Base” mean, as " mean As determined by Lender from time to time, the lesser of (1) $2,500,000.00 6,000,000.00 or (( 2) 57.75050.000% of the aggregate amount of Eligible AccountsInventory. Notwithstanding the above, availability under the Borrowing Base may be reduced by the amount of unrealized losses related to foreign exchange transactions entered into by Borrower.
Appears in 1 contract
Sources: Business Loan Agreement (Tandy Leather Factory Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 5,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 5,000,000.00 or (2) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (TGC Industries Inc)
Borrowing Base. The words “Borrowing Base” Base mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 1,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory, plus (c) 80.000% of the aggregate amount of Eligible Equipment.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” mean, " mean as determined by Lender from time to time, the lesser of (1) $2,500,000.00 4,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible inventory. At no time will Inventory be allowed to comprise more than 50% of the Borrowing Base.
Appears in 1 contract
Sources: Business Loan Agreement (Sielox Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 1,000,000.00; or (2b) 57.750the sum of (i) 80.000% of the aggregate amount of Eligible Accounts, plus (ii) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $300,000).
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 1,000,000.00 or (2) 57.75070.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Vista Proppants & Logistics Inc.)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 or (2) 57.75057.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Electromed, Inc.)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 1,750,000.00; or (2b) 57.750the sum of (i) 75.000% of the aggregate amount of Eligible Accounts, plus (ii) 40.000% of the aggregate amount of Eligible Equipment.
Appears in 1 contract
Sources: Loan Agreement (Bab Holdings Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 750,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts $750,000.00), plus (b) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $750,000.00).
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 5,000,000.00 or (2) 57.75080.000% of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts $5,000,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Versant Corp)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 5,000,000.00 or (2) 57.75075.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 1,800,000.00 or (2) 57.750the sum of (a) 75.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory, plus (c) 50.000% of the aggregate amount of Eligible Equipment.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Sterion Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 15,000,000.00; or (2b) 57.75080.000% of the aggregate amount of Eligible AccountsAccounts and 25% of Eligible Inventory as defined in Addendum #1.
Appears in 1 contract
Sources: Loan Agreement (Balance Bar Co)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 400,000.00 or (2) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (NYTEX Energy Holdings, Inc.)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 1,250,000.00; or (2b) 57.750the sum of (i) 80.000% of the aggregate amount of Eligible Accounts, plus (ii) 50.000% of the aggregate amount of Eligible inventory.
Appears in 1 contract
Sources: Loan Agreement (Synergetics Usa Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 2,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 5,000,000.00 or (2) 57.75075.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Niku Corp)
Borrowing Base. The words “"Borrowing Base” mean, " mean as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 15,000,000.00; or (2b) 57.750the sum of (i) 80.000% of the aggregate amount of Eligible Accounts., plus (ii) 50.000% of the aggregate amount of eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory of $5,500,000.00). The Borrowing Base formula applies only when borrowings exceed $5,000,000.00
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” mean, " mean as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 600,000.00; or (2b) 57.750the sum of $85.000% of the aggregate amount of Eligible AccountsAccounts less bad debt allowance, accounts payable offsets and keg deposits, plus (ii) 50.000% of Eligible Inventory defined as raw materials, work-in-process and finished goods.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 1,500,000.00; or (2b) 57.750the sum of (i) 75.000% of the aggregate amount of Eligible Accounts, plus (ii) 40.000% of the aggregate amount of Eligible Equipment.
Appears in 1 contract
Sources: Loan Agreement (Bab Holdings Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender ▇▇▇▇▇▇ from time to time, the lesser of (1a) $2,500,000.00 10,000,000.00; or (2b) 57.750% a percentage of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Loan Agreement (Ea Engineering Science & Technology Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 1,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts $1,000,000.00), plus (b) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible inventory $1,000,000.00).
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 or 1,500,000.00 or(2) the sum of (2a) 57.75080.000% of the aggregate amount of Eligible Accounts, plus (b) 35.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 3,000,000.00; or (2b) 57.75075.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 750,000.00 or (2) 57.750the sum of (a) 75.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” mean, " mean ,as determined by Lender lender from time to time, the lesser of (1) $2,500,000.00 1,000,000.00 or (2) 57.75075.000% of the aggregate amount of Eligible Accounts...
Appears in 1 contract
Sources: Business Loan Agreement (Category 5 Technologies Inc)
Borrowing Base. The words “Borrowing Base” , mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 S3,500,000.00; or (2b) 57.750% 9o.oon% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Revolving Line of Credit Agreement (Daw Technologies Inc /Ut)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 500,000.00 or (2) 57.75075.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Commercial Guaranty (Torotel Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 6,000,000.00 or (2) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 4,000,000.00 or (2) 57.750the sum of (a) 85.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Ocean Bio Chem Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 1,000,000.00; or (2b) 57.750the sum of (i) 90.000% of the aggregate amount of Eligible Accounts, plus (ii) 75.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Sources: Loan Agreement (Web Press Corp)
Borrowing Base. The words “Borrowing Base” mean, mean as determined by Lender from time to time, the lesser of (1) $2,500,000.00 7,000,000.00 or (2) 57.75080.00% of the aggregate amount of Eligible AccountsAccounts subject to a 5.00% dilution based on gross collections.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 7,000,000.00; or (2b) 57.750the sum of (i) 80.000% of the aggregate amount of Eligible Accounts, plus (ii) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $2,400,000).
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) $2,500,000.00 3,500,000.00; or (2b) 57.750the sum of (i) 80.000% of the aggregate amount of Eligible Accounts, plus (ii) 25.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” mean, as determined by Lender from time to time, " mean the lesser of (1a) $2,500,000.00 1,500,000.00; or (2b) 57.750the sum of (i)76% of the aggregate amount of Eligible Accounts, plus (ii) 50% of the aggregate amount of Eligible Inventory. At no time shall advances against Eligible Inventory exceed $500,000.00.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 4,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts $4,000,000.00), plus (b) 25.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $4,000,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (Addvantage Technologies Group Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 6,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts $6,000,000.00), plus (b) 40.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $200,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (American Electric Technologies Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 1,500,000.00 or (2) 57.75080% of the aggregate amount of Eligible AccountsAccounts (not to exceed in corresponding Loan amount based on Eligible Accounts $1,500,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (TSS, Inc.)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender ▇▇▇▇▇▇ from time to time, the lesser of (1a) $2,500,000.00 3,000,000.00; or (2b) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Sources: Loan Agreement (Industrial Services of America Inc /Fl)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 2,000,000.00 or (2) 57.75080.000% of the aggregate amount of Eligible Accounts.
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 2,250,000.00 or (2) 57.750the sum of (a) 60.000% of the aggregate amount of Eligible Accounts, plus (b) 60.000% of the aggregate amount of Eligibly Inventory.
Appears in 1 contract
Sources: Business Loan Agreement (Flotek Industries Inc/Cn/)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 5,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) $2,500,000.00 3,000,000.00 or (2) 57.750the sum of (a) 80.000% of the aggregate amount of Eligible Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory.
Appears in 1 contract