Aggregate Loan Values definition

Aggregate Loan Values is amended by inserting "$2,500,000" in lieu of $2,000,000" therein.
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Aggregate Loan Values. For purposes of this Agreement, the "Aggregate Loan Values" shall consist of the sum of the Loan Value of Accounts and the Loan Value of Inventory. For purposes of this Agreement, Loan Value of Accounts shall mean an amount no greater than eighty-five percent (85%) of the Eligible Accounts of Borrower; and Loan Value of Inventory shall mean the lesser of 50% of Borrower's Eligible Inventory or $750,000. With respect to all Accounts, Borrower represents and warrants to Bank that Bank may rely, in determining which Accounts are Eligible Accounts, on all statements and representations made by Borrower with respect to any Account or Accounts.
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Examples of Aggregate Loan Values in a sentence

  • Notwithstanding any provision in this Agreement, the ----------- Bank may, in its sole discretion, at any time limit the amount of the Loan advanced to the Borrower to an amount less than the Aggregate Loan Values.

  • Aggregate Loan Values - the lesser of(i) the sum of $ 2,000,000 or (ii) the sum of the Loan Value of Accounts and the Loan Value of Inventory.

  • The definition of "Aggregate Loan Values" is amended by inserting "$2,500,000" in lieu of $2,000,000" therein.

  • The Remaining Businesses shall also pay a one percent (1 %) per annum fee, payable monthly, in arrears on the amounts drawn under the Revolving Loan in excess of the Aggregate Loan Values, pursuant to Section 2.1(b) hereof.

  • During the Forbearance Period, the Borrower shall not have the right to exercise its option under Section 2.1(b) of the Loan Agreement to increase by $500,000.00, or any lesser amount, the limitation on Aggregate Loan Values.

  • Notwithstanding any provision in this Agreement, the Bank may, in its sole discretion, at any time, but only upon one hundred and eighty (180) days advance written notice to Borrower, limit the amount of the Loan advanced to the Borrower to an amount less than the Aggregate Loan Values.

  • Aggregate Loan Values -- the lesser of (i) $40,000,000.00 less the aggregate face amount of all issued and outstanding Letters of Credit, or (ii) the sum of the Loan Value of Accounts plus the Loan Value of Inventory.

  • Notwithstanding any provision in this Agreement, the Bank may, in its sole discretion, at any time limit the amount of the Line of Credit Loan advanced to Borrowers to an amount less than the Aggregate Loan Values.

  • Aggregate Loan Values - the lesser of (i) the sum of One Million Dollars ($1,000,000); or (ii) the sum of the Loan Value of Accounts, and the Loan Value of Inventory.

  • Notwithstanding any provision in this Agreement, the Bank may, in its sole discretion, at any time, but subject to the notice provisions of Section 2.1.7, limit the amount of the Loan advanced to the Borrower to an amount less than the Aggregate Loan Values and/or terminate its obligation to make future loans or advances with respect to the Loan.