Applicable Inventory Advance Rate means 90%.
Applicable Inventory Advance Rate means:
Applicable Inventory Advance Rate means (i) fifty-five percent (55%) for Non-Qualified Inventory (as hereinafter defined) and (ii) seventy percent (70%) for Qualified Inventory (as hereinafter defined); and where (i) "Qualified Inventory" means Eligible Inventory meeting the following conditions: (1) it is situated at an ISA Site pursuant to an existing ISA which is then in effect with a Customer whose credit quality has been approved by the Administrative Agent in its commercially reasonable judgment; (2) Acknowledgment Agreements in regard to such Inventory in form satisfactory to the Administrative Agent have been duly executed and are then in effect, and (3) the ISA or Customer Agreement contains "buyback" or "buyout" provisions with respect to such Inventory satisfactory to the Administrative Agent; and (iii) "Non-Qualified Inventory" means any Eligible Inventory except Qualified Inventory, including any Eligible Inventory at any ISA Site which fails to meet any one of the foregoing criteria for "Qualified Inventory"; minus
Examples of Applicable Inventory Advance Rate in a sentence
Article 1 of the Credit Agreement is amended as follows: (i) The definitions of "Applicable Inventory Advance Rate", "Revolving Credit Casual Male Companies Inventory Advance Rate" and "Revolving Credit RBT Inventory Advance Rate" are hereby xxxnded to extend the Rate which is applicable through December 15, 2005 to February 1, 2006.
The definition of "Applicable Inventory Advance Rate" set forth in Section 1 of the Loan Agreement is hereby deleted in its entirety.
More Definitions of Applicable Inventory Advance Rate
Applicable Inventory Advance Rate. The following rates for the following periods: Rate Period 85% December 16 through April 14 of each year 90% April 15 through June 15 of each year 85% June 16 through September 30 of each year 90% October 1 through December 15 of each year
Applicable Inventory Advance Rate means with respect to any Inventory Letter of Credit issued for the purpose of purchasing: (i) Eligible Lawn & Garden Inventory, seventy percent (70%); (ii) Eligible Live Plants Inventory, fifty-five percent (55%); (iii) Eligible Floral & Crafts inventory, sixty percent (60%); (iv) Eligible Christmas Decoration Inventory to be delivered to Borrower during Accounting Periods 7 through 12 of each fiscal year, sixty percent (60%); or (v) Eligible Christmas Decoration Inventory to be delivered to Borrower during any other Accounting Period of each fiscal year, thirty percent (30%).
Applicable Inventory Advance Rate means as of the date hereof 59% of the net amounts of Eligible Inventory. Such rate of advance shall be reduced by 75 basis points at the expiration of each successive ninety (90) days thereafter until reduced to 56% of the net amount of Eligible Inventory.
Applicable Inventory Advance Rate means (a) seventy percent (70%) for Eligible Current Year Inventory and Eligible Imported Inventory and (b) fifty percent (50%) for Eligible Year Old Inventory; provided, however, that the Applicable Inventory Advance Rate for Eligible Current Year Inventory and Eligible Imported Inventory will be reduced to sixty-five percent (65%) six months after the Closing Date and will be further reduced to sixty percent (60%) upon the earlier of (i) the repayment in full of the BofA Loan, and (ii) the first Anniversary Date; provided, further, that the Applicable Inventory Advance Rate for Eligible
Applicable Inventory Advance Rate means 60% for the period between January 1 through and including September 30 and 65% for the period between October 1 through and including December 31.
Applicable Inventory Advance Rate. Revolving Credit Casual Male Companies Inventory Advance Rate" and "Revolving Credit RBT Inventory Advance Rate" are hereby xxxnded to extend the Rate which is applicable through December 15, 2005 to February 1, 2006. (ii) The definition of "Permitted Indebtedness" in Article 1 shall be amended by adding new subsection (k) and (l), which subsections shall read as follows: "(k) Indebtedness arising pursuant to the LaSalle Mortgage Loan. (l) Indebtedness arising pursuant to a loan which may be made by Bank of America, N.A., in a principal amount not to exceed $15,000,000.00, with a maturity date of not longer than one (1) year, to be secured by a junior Encumbrance on the Collateral and a mortgage on the Canton Property, to be repaid only from the proceeds of a refinancing or sale/leaseback of the Canton Property, subject to such further terms and conditions as are reasonably acceptable to the Administrative Agent." (iii) The following definitions are added to Article 1 of the Credit Agreement:
Applicable Inventory Advance Rate means, as to each category of Inventory set forth below, the applicable advance rate percentage set forth below which corresponds thereto: