Common use of Retainages Clause in Contracts

Retainages. Subject to the terms and conditions of this Agreement, Lender may include Retainage Accounts Receivable in the Export-Related Borrowing Base without the prior written consent of EXIM Bank, provided that: (a) the applicable Borrower has invoiced the Buyer for the Retainage Account Receivable; Receivable; (b) the Retainage Account Receivable is an Eligible Export-Related Account (c) the Advance Rate does not exceed twenty-five percent (25%) of the Retainage Value; and (d) the Retainage Value of the Retainage Accounts Receivable included in the Export-Related Borrowing Base of such Borrower in accordance with this Section 4.14 shall not exceed the lesser of (x) twenty percent (20%) of the Maximum Amount or (y) $500,000, subject to the terms of Section 4.13 (e).

Retainages. Subject to the terms and conditions of this Agreement, Lender may include Retainage Accounts Receivable in the Export-Related Borrowing Base without the prior written consent of EXIM Bank, provided that:that:‌ (a) the applicable Borrower has invoiced the Buyer for the Retainage Account Receivable; Receivable; (b) the Retainage Account Receivable is an Eligible Export-Related Account (c) the Advance Rate does not exceed twenty-five percent (25%) of the Retainage Value; and (d) the Retainage Value of the Retainage Accounts Receivable included in the Export-Related Borrowing Base of such Borrower in accordance with this Section 4.14 shall not exceed the lesser of (x) twenty percent (20%) of the Maximum Amount or (y) $500,000, subject to the terms of Section 4.13 (e).