Inventory Sublimit. As of the opening of business on Wednesday (or, if not a Business Day, on the first Business Day thereafter) of each week, the sublimit on inventory advances referred to in subsection (b)(ii)(A) of the definition of "Borrowing Base" in the Loan Agreement (which sublimit is presently at $4,900,000) will continue to be permanently and automatically decreased by $25,000.
Appears in 1 contract
Sources: Loan and Security Agreement (Rheometric Scientific Inc)
Inventory Sublimit. As of the opening of business on Wednesday (or, if not a Business Day, on the first Business Day thereafter) of each week, the sublimit on inventory advances referred to in subsection (b)(ii)(A) of the definition of "Borrowing Base" in the Loan Agreement (which sublimit is presently at $4,900,0003,875,000) will continue to be permanently and automatically decreased by $25,000.
Appears in 1 contract
Sources: Loan and Security Agreement (Rheometric Scientific Inc)