Minimum Excess Availability. The Borrowing Base, after giving effect to the first funding under the Revolving Credit; any charges to the Loan Account made in connection with the establishment of the credit facility contemplated hereby; and L/C's to be issued at, or immediately subsequent to, such establishment, is not less than $2,000,000.00.
Appears in 1 contract
Minimum Excess Availability. The Borrowing BaseAvailability, after giving effect to the --------------------------- first funding loans and advances to be made under the Revolving Credit; any charges to the Loan Account made in connection with the establishment of the credit facility contemplated hereby; and L/C's to be issued at, or immediately subsequent to, the establishment of such establishment, is not less than Five Hundred Fifty Thousand and 00/100 ($2,000,000.00550.000.00) Dollars.
Appears in 1 contract
Sources: Loan and Security Agreement (Sunbelt Nursery Group Inc)
Minimum Excess Availability. The Borrowing BaseAvailability, after giving effect to the first funding loans and advances to be made under the Revolving Credit; any charges to the Loan Account made in connection with the establishment of the credit facility contemplated hereby; and L/C's to be issued at, or immediately subsequent to, the establishment of such establishment, is not less than Seventy-Five Thousand ($2,000,000.0075,000.00) Dollars.
Appears in 1 contract
Sources: Loan and Security Agreement (Harvey Electronics Inc)
Minimum Excess Availability. The Borrowing BaseAvailability, after giving effect to the first funding loans and advances to be made under the Revolving Credit; all then held checks (if any); accounts payable which are beyond credit terms then accorded the Borrower; overdrafts; any charges to the Loan Account made in connection with the establishment of the credit facility contemplated hereby; and L/C's to be issued at, or immediately subsequent to, the establishment of such establishment, is not less than $2,000,000.004,000,000.00.
Appears in 1 contract
Minimum Excess Availability. The Borrowing BaseAvailability, after giving effect to the first funding loans and advances to be made under the Revolving Credit; all then held checks (if any); accounts payable which are beyond credit terms then accorded the Borrower; overdrafts; any charges to the Loan Account made in connection with the establishment of the credit facility contemplated hereby; and L/C's to be issued at, or immediately subsequent to, the establishment of such establishmentcredit facility, is not less than $2,000,000.006,500,000.00.
Appears in 1 contract
Sources: Loan and Security Agreement (Factory Card Outlet Corp)
Minimum Excess Availability. The Borrowing BaseAvailability, after giving effect to the --------------------------- first funding loans and advances to be made under the Revolving Credit; any charges to the Loan Account made in connection with the establishment of the credit facility contemplated hereby; and L/C's to be issued at, or immediately subsequent to, the establishment of such establishment, is not less than Five Hundred Fifty Thousand and 00/100 ($2,000,000.00550,000.00) Dollars.
Appears in 1 contract
Sources: Loan and Security Agreement (Sunbelt Nursery Group Inc)
Minimum Excess Availability. The Borrowing BaseAvailability, after giving effect to the first funding loans and advances to be made under the Revolving Credit; any charges to the Loan Account made in connection with the establishment of the credit facility contemplated hereby; and L/C's to be issued at, or immediately subsequent to, the establishment of such establishmentcredit facility, is not less than $2,000,000.0022,500,000.00.
Appears in 1 contract
Sources: Loan and Security Agreement (Homeplace of America Inc)