Current Asset Loans definition

Current Asset Loans means that portion of the Revolving Loans that is predicated on the value of Eligible Accounts and Eligible Inventory.
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Current Asset Loans means, collectively, amounts advanced from time to time by the Lenders to the Borrower under the Current Asset Commitment, not to exceed the amount of the Current Asset Commitment, excluding any amounts advanced as Swing Loans or Agent Advances.
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Examples of Current Asset Loans in a sentence

  • Current Asset, Loans and Advances as at 31st December, 2010 have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

  • For instance, the Chairperson of a National Women Council of Entrepreneurship (NWCE) in Namibia reported that she has been to establish an agency to advocate for women’s rights, children development and family welfare as a strategy to respond to the immediate needs of women entrepreneur and traders respectively.

  • Current Asset, Loans and Advances as at 31st December 2012 have a value on realization in the ordinary course of business at least equal to the amount at which they are stated 46.Remittance in foreign currency during the year on account of dividend.

  • Notwithstanding the foregoing, the Borrower shall not make any repayment or prepayment of the Revolving Loans unless and until the balance of the Swing Loans and Agent Advances then outstanding is zero, and the Borrower shall not make any repayment or prepayment of the Fixed Asset Loans unless and until the balance of the Current Asset Loans then outstanding is zero.

  • Notwithstanding anything to the contrary contained in this Agreement or any of the other Loan Documents, no Advance of the Current Asset Loans may be requested, or deemed requested, by the Borrower at any time when Fixed Asset Availability is greater than zero (0).

  • Any Advances made to reimburse the Swing Bank pursuant to Section 2.2(g), to reimburse the Administrative Agent pursuant to Section 2.2(h) or to reimburse an Issuing Bank pursuant to Section 2.15 shall first be made as Fixed Asset Loans and, after Fixed Asset Availability reaches zero (0), as Current Asset Loans.

  • Note :- 41In the opinion of Management, value of Current Asset, Loans and advances, if realized in the ordinary course of business, shall not be less than the amount at which the same are stated in the Balance Sheet.

  • The Current Asset Loans shall be repayable in accordance with the terms and provisions set forth herein and, upon request by any Lender, the Current Asset Loans owed to such Lender shall be evidenced by Current Asset Notes.

Related to Current Asset Loans

  • Current Assets of any Person means all assets of such Person that would, in accordance with GAAP, be classified as current assets of a company conducting a business the same as or similar to that of such Person, after deducting adequate reserves in each case in which a reserve is proper in accordance with GAAP.

  • Funded Debt means all Indebtedness of the Borrower and the Restricted Subsidiaries for borrowed money that matures more than one year from the date of its creation or matures within one year from such date that is renewable or extendable, at the option of such Person, to a date more than one year from such date or arises under a revolving credit or similar agreement that obligates the lender or lenders to extend credit during a period of more than one year from such date, including Indebtedness in respect of the Loans.

  • Consolidated Current Assets means, as at any date of determination, the total assets of Company and its Subsidiaries on a consolidated basis which may properly be classified as current assets in conformity with GAAP, excluding Cash and Cash Equivalents.

  • Consolidated Current Liabilities means, as at any date of determination, the total liabilities of Holdings and its Subsidiaries on a consolidated basis that may properly be classified as current liabilities in conformity with GAAP, excluding the current portion of long term debt.

  • Current Liabilities are all obligations and liabilities of Borrower to Bank, plus, without duplication, the aggregate amount of Borrower’s Total Liabilities that mature within one (1) year.

  • Funded Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Working Capital Loan has the meaning specified in Section 2.1(c).