Advance Limit shall have the meaning specified in Section 3.02(b) of the Receivables Purchase Agreement.
Advance Limit means the loans or advances which Lender may make to the Borrower pursuant to this Agreement which are not in the aggregate at any time outstanding to exceed the lesser of Eight Million ($8,000,000.00) Dollars or the sum of (A), (B) and (C) below:
Advance Limit means the loans or Advances which the Lender may, from time to time when requested by Borrower make to Borrower, and which shall not in the aggregate at any time exceed the lesser: (i) $2,193,627.46; or (ii) the product of eighty-five (85%) percent multiplied by the aggregate remaining principal balance of the Acceptable Contracts in which Lender is granted a security interest hereunder.
Examples of Advance Limit in a sentence
We may, at our option, extend credit under the Account which exceeds the Credit Limit or the Cash Advance Limit.
The Credit Limit and Cash Advance Limit are shown on page 1 of Part 1 and on each billing statement.
We may make part of the Credit Limit available for cash advances (Cash Advance Limit).
We may increase or reduce the Credit Limit and Cash Advance Limit.
You agree to manage the Account so that: ● the Account balance (including fees and interest) is not more than the Credit Limit, and ● the cash advance balance (including fees and interest) is not more than the Cash Advance Limit.
More Definitions of Advance Limit
Advance Limit means the maximum amount You are entitled for Advances and this forms part of Your Credit Limit.
Advance Limit means $200,000,000.
Advance Limit means, at any date of determination thereof, an amount equal to the lesser of (i) Four Million and 00/100 ($4,000,000.00) Dollars or (ii) the sum of (1) eighty (80%) percent of the face amount of the Borrower's Eligible Accounts Receivable plus (2) fifty (50%) percent of the face amount of the Borrower's Eligible Inventory plus twenty-five (25%) of the value of the Borrower's Eligible PP & E.
Advance Limit shall have the meaning specified in Section 3.2(b). -------------
Advance Limit. As defined in Section 3.2(a).
Advance Limit means, as of any date of determination thereof, the lesser of (a) the aggregate amount of the Commitments in effect on such date, and (b) the Borrowing Base.
Advance Limit means the amount of the Revolving Loan which the Lender may, in its sole and absolute discretion, from time to time make to Borrower, up to the lesser of One Million Dollars ($1,000,000) or 85% of the principal amount of the Borrower's "Eligible Receivables" (as hereinafter defined).