CB Borrowing definition
CB Borrowing. Base shall mean, as to the Collective Borrowers, the sum of: (a) eighty-five percent (85%) of the Collective Borrowers’ aggregate outstanding Eligible Accounts Receivable, provided, however, that if the then Dilution Percentage is greater than four percent (4%), then the rate of advance herein shall be reduced by the amount of such excess Dilution Percentage over such percentage, plus (b) the lesser of $5,000,000 or 100% of the then undrawn amount under the CIT Letter of Credit, less (c) any applicable Availability Reserves.”
Examples of CB Borrowing in a sentence
Revolving Loans may be made to Onstaff based upon the Onstaff Borrowing Base, and to the Collective Borrowers based upon the CB Borrowing Base.