Examples of Eligible Domestic Accounts Receivable in a sentence
The books and records of Borrower and all records pertaining to Eligible Domestic Accounts Receivable and Eligible Domestic Inventory are located at the office location for such Borrower listed on Exhibit N.
Such loans and advances shall be in amounts up to: A) eighty-five percent (85%) of the outstanding Eligible Domestic Accounts Receivable of the Company, B) eighty-five percent (85%) of the outstanding Eligible Foreign Accounts Receivable of the Company, and C) twenty-five percent (25%) of Eligible Domestic Finished Goods, at lower of cost or market, but not to exceed the Inventory Sub-Limit from time to time in effect.
The Borrowers will not permit the ratio cash plus of the aggregate amount of Eligible Domestic Accounts Receivable and Eligible International Accounts Receivable (excluding in any event from such calculation accounts receivable falling within the definition of Apple Collateral as such term is defined in the Intercreditor Agreement dated as of October 18, 1994 between Focus Enhancements, Inc., the Bank and Fred Kassner) to aggregate Extensions of Credit to exceed 2.5 to 1 xx xhe end of any month.
Borrowings under the Line of Credit Note will be based on a Borrowing Base formula and at no time will the outstanding principal balance of the Loan exceed the lesser of (1) $10,000,000.00 or (2) the sum of 80% of Eligible Domestic Accounts Receivable plus 40% of Eligible Inventory (which inventory portion of the Loan will be capped at $4,000,000.00) minus the aggregate face amount of all outstanding Letters of Credit as hereinafter defined.
The Domestic Borrowing Base Amount will equal the product of the Domestic Account Receivable Advance Rate multiplied by the Eligible Domestic Accounts Receivable Amount.