Accounts Availability definition

Accounts Availability means up to ninety percent (90%) of the net face amount of Eligible Accounts.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Accounts Availability means the amount of Loans against Eligible Accounts Laurus may from time to time make available to Company up to ninety percent (90%) of the net face amount of Eligible Accounts based on Accounts of Company and the Eligible Subsidiaries.

Accounts Availability means the amount of Revolving Credit Advances against Eligible Accounts Lender may from time to time make available to a Borrower up to eighty percent (80%) of the net face amount of such Borrower’s Eligible Accounts.

Examples of Accounts Availability in a sentence

• During an Accounts Availability Triggering Event, the Loan Parties shall not be entitled to present items drawn on or otherwise to withdraw or direct the dispositions of funds from the Primary Payment Account.

• Notwithstanding any other agreements the Loan Parties may have with any Secured Party, the Collateral Agent shall be entitled, during an Accounts Availability Triggering Event, for purposes of this Agreement to give instructions as to the withdrawal or disposition of funds from time to time credited to any deposit account with the Collateral Agent, any Payment Account, or the Primary Payment Account, or as to any other matters relating to any of the forgoing without further consent of the Loan Parties.

• Nothing contained in this Section 2.11(b)(v) shall limit any rights or remedies of the Collateral Agent upon the occurrence and during the continuance of an Accounts Availability Triggering Event in accordance with Section 6.12.

• During an Accounts Availability Triggering Event, the Agents shall have the right to apply funds on deposit in or credited to the Primary Payment Account to any outstanding Revolving Loans and the Borrowers shall have the right, subject to the terms and conditions of this Agreement, to request Borrowings hereunder and direct the disposition of Revolving Loan proceeds.

• Bank may, in its good faith business discretion, finance Aggregate Eligible Accounts by extending credit to Borrower in an amount equal to the Aggregate Eligible Accounts Availability Amount.

More Definitions of Accounts Availability

Accounts Availability means the amount of Revolving Credit Advances against Eligible Accounts Laurus may from time to time make available to the Company up to ninety percent (90%) of the net face amount of the Company's Eligible Accounts.

Accounts Availability means sum of (i) the amount of Revolving Loans against Eligible Accounts Laurus may make from time to time up to ninety percent (90%) of the net face amount of Eligible Accounts.

Accounts Availability means the sum of (a) ninety percent (90%) of the net face amount of Eligible Accounts plus (b) ninety percent (90%) of the net face amount of Eligible Credit Insured Accounts.

Accounts Availability means for each Debtor, the advance percentage applicable to accounts receivable of such Debtor as specified in Paragraph 2 of the printed portion of this Agreement, multiplied by the amount of eligible and acceptable accounts receivable of such Debtor, but not exceeding any limitation on the amount of Accounts Advances to such Debtor specified in such Paragraph 2 or in Section G of this Rider.

Accounts Availability means up to ninety percent (90%) of the net face amount of Eligible Accounts; provided that, notwithstanding the foregoing, (x) during the first 180 days immediately following the Closing Date (the "Initial Six Month Period"), with respect to Eligible Accounts from any Accounts Debtor, the aggregate of whose Accounts equal or exceed 20% of all Accounts from all Account Debtors (each, a "20% Account Debtor"), (y) during the 180 day period immediately following the expiration of the Initial Six Month Period (the "Subsequent Six Month Period"), with respect to Eligible Accounts from any Accounts Debtor, the aggregate of whose Accounts equal or exceed 25% of all Accounts from all Account Debtors (each, a "25% Account Debtor") and (z) upon expiration of the Subsequent Six Month Period, with respect to Eligible Accounts from any Accounts Debtor, the aggregate of whose Accounts equal or exceed 30% of all Accounts from all Account Debtors (each, a "30% Account Debtor" and, together with the 20% Account Debtors and the 25% Account Debtors, the "Significant Account Debtors" and, each a "Significant Account Debtor"), in each of the cases set forth in clauses (x), (y) and (z) above, to the extent any such Eligible Accounts of such Significant Account Debtor remain unpaid passed the 90th day from the date of initial invoice, the "Accounts Availability" with respect to such Eligible Accounts shall be sixty percent (60%) of the net face amount thereof; provided that, to the extent such Eligible Accounts of such Significant Account Debtors remain unpaid passed the 120th day from the date of initial invoice, the "Accounts Availability" with respect to such Eligible Accounts shall be forty percent (40%); provided further that, to the extent such Eligible Accounts of such Significant Account Debtors remain unpaid passed the 150th day from the date of initial invoice, the "Accounts Availability" with respect to such Eligible Accounts shall be twenty percent (20%); provided further that, to the extent such Eligible Accounts of such Significant Account Debtors remain unpaid passed the 180th day from the date of initial invoice, the "Accounts Availability" with respect to such Eligible Accounts shall be zero percent (0%).

Accounts Availability means eighty-five percent (85%) of the net face amount of Eligible Accounts.

Accounts Availability means the sum of (a) sixty percent (60%) of the net face amount of Eligible Auto Loan Accounts owned by STEN Credit on or after August 22, 2008, plus (b) seventy-five percent (75%) of the net face amount of Eligible Auto Loan Accounts owned by STEN Credit prior to August 22, 2008, plus, (c) seventy-five percent (75%) of the net face amount of Eligible Manufacturing Accounts.