Inventory Advances definition

Inventory Advances as defined in Section 2.1.1.
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Inventory Advances the loans and advances made from time to time by Factor to Client under this Supplement.
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Inventory Advances means on or before June 15, 1996, the difference of ( I) the outstanding principal balance of the Revolving Note and ( II) 80% of Eligible Accounts, if greater than zero ($-0)."
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Examples of Inventory Advances in a sentence

  • Workbook on the Personality Assessment Inventory: Advances in Programmed Distance Writing.

  • If at any time the outstanding Inventory Advances exceed the Maximum Inventory Advance Amount, Borrower shall immediately pay to Bank in cash such excess.

  • Notwithstanding the foregoing, at Bank’s election upon the occurrence and during the continuance of an Event of Default, the Inventory Advances shall bear interest at a rate per annum which is five percentage points (5.0%) above the rate that is otherwise applicable thereto.

  • Notwithstanding the foregoing, at all times that Borrower is not Sublimit Uncapped Eligible, the aggregate outstanding principal balance of the sum of (A) Inventory Advances used to finance Eligible Inventory, plus (B) Purchase Order Advances used to finance Eligible Purchase Orders may not exceed sixty percent (60%) of the aggregate outstanding principal balance of all Credit Extensions.

  • All shares of Parent Common Stock issued upon the surrender for exchange of shares of Company Capital Stock in accordance with the terms hereof (including any cash in lieu of fractional shares) shall be deemed to have been issued in full satisfaction of all rights pertaining to such shares of Company Capital Stock, and there shall be no further registration of transfers on the records of the Company of shares of Company Capital Stock which were outstanding immediately prior to the Effective Time.

  • For the analyses, the Wholist–Analytic dimension was split into two divisions: Wholist 0.63 to 1.07 and Analytics 1.08 to 2.82 (mean = 1.20, median = 1.09, SD = 0.42).

  • Borrower may prepay any Inventory Advances hereunder at any time without premium or penalty.

  • When an Event of Default has occurred and is continuing, Borrower will, if Bank demands (or, upon the occurrence of an Event of Default under Section 8.5, immediately without notice or demand from Bank) repay all of the Advances and Inventory Advances.

  • Outstanding Inventory Advances shall reduce availability of Account Advances in accordance with Section 2.1.1(b) below.

  • Borrower will repay the Inventory Advances on the earlier of: (i) the date on which the outstanding principal amount of the aggregate Inventory Advances exceeds the Maximum Inventory Advance Amount, to the extent of such excess, (ii) the date on which there is a breach of any warranty or representation set forth in Section 5.11, (iii) when required to be repaid under Section 2.1.1(i), or (iv) the Maturity Date (including any early termination).


More Definitions of Inventory Advances

Inventory Advances advances made pursuant to the second sentence of subsection 2.1.1.
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Inventory Advances shall have the meaning set forth in Section 2.3.
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Inventory Advances means any Advances made by Bank which are thirty five percent (35%) of the lower of cost or market value of Borrower's Eligible Inventory, and as may be adjusted by Bank, in Bank's discretion, for age and seasonality or other factors affecting the value of the Inventory, up to a maximum advance outstanding at any one time of Two Million Dollars ($2,000,000) upon Borrower's concurrent execution and delivery to Bank of a Designation of Inventory, or Certification of Borrowing Base, in form customarily used by Bank. "Eligible Inventory" shall mean Borrower's Inventory that (a) consists of finished goods (i.e., frames) or eyeglass cases, (b) is less than 730 days old and (c) is located in the United States of America.
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Inventory Advances means Advances that are based upon Eligible Inventory.
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Inventory Advances means an advance (or advances) under the Inventory Sublimit.
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Inventory Advances means any Advances made by Bank which are thirty five percent (35%) of the lower of cost or market value of Borrower’s Eligible Inventory, and as may be adjusted by Bank, in Bank’s discretion, for age and seasonality or other factors affecting the value of the Inventory, up to advances outstanding at any one time of not greater than the Inventory Sublimit upon Borrower’s concurrent execution and delivery to Bank of a Designation of Inventory, or Certification of Borrowing Base, in form customarily used by Bank. “Eligible Inventory” shall mean Borrower’s Inventory that (a) consists of finished goods (i.e., frames) or eyeglass cases, (b) is less than (i) 730 days old from the First Amendment Effective Date until February 28, 2010, and (ii) 365 days old thereafter, and (c) is located in the United States of America.
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Related to Inventory Advances

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Inventory Formula Amount means, with respect to any item of Eligible Inventory and at any time of determination, the lesser of (a) 65% of the lower of cost and market of such Inventory and (b) 85% of the Net Orderly Liquidation Value of such Inventory.

  • Eligible Inventory means and include Inventory of a Borrower, excluding work in process, valued at the lower of cost or market value, determined on a first-in-first-out basis, which is not, in Administrative Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Administrative Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Administrative Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Administrative Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is Foreign In-Transit Inventory or in-transit within the United States; (c) is located outside the continental United States; (d) constitutes Consigned Inventory; (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Administrative Agent’s right to sell or otherwise dispose of such Inventory, unless Administrative Agent is a party to a Licensor/Administrative Agent Agreement with the Licensor under such License Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its sole discretion); (g) is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Administrative Agent a Lien Waiver Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its Permitted Discretion); or (h) or if the sale of such Inventory would result in an ineligible Receivable.

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category.

  • Revolving Advances means Advances made other than Letters of Credit.

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • Borrowing Base Amount means, as of any date, an amount equal to the sum of:

  • Inventory Sublimit means the amount(s) set forth in Section 1(d) of Schedule A.

  • Conduit Inventory Loan shall have the meaning assigned to such term in Section 14(d).

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Eligible Accounts Receivable means only such accounts receivable of the Borrower as the Bank, in its sole discretion, shall deem eligible. Without limiting the discretion of the Bank to consider any account receivable not to be an Eligible Account Receivable, and by way of example only of the types of accounts receivable that the Bank will consider not to be Eligible Accounts Receivable, notwithstanding any earlier classification of eligibility, the following accounts receivable shall not be considered Eligible Accounts Receivable: (i) any account receivable which is not paid in full within 90 days after it is created; (ii) any account receivable as to which any warranty is breached; (iii) any account receivable as to which the account debtor or other obligor disputes liability or makes any claim; (iv) any account receivable owed by any officer, director or shareholder of the Borrower or any of their relatives or any partnership, corporation, association, joint venture or other business entity wholly or partly owned or controlled directly or indirectly by the Borrower or any of them or any of their relatives; (v) any account receivable owed by any person as to whom a petition in bankruptcy or other application for relief is filed under any bankruptcy, reorganization, receivership, moratorium, insolvency or s law; (vi) any account receivable owed by any person who makes an assignment for the benefit of creditors, becomes insolvent, fails, suspends business, or goes out of business; (vii) any account receivable owed by the United States government or any agency of the United States government; (viii) any account receivable owed by any person if 10% or more in amount of the accounts receivable owed by such person to the Borrower are considered ineligible; (ix) consignment receivables; (x) bonded receivables; (xi) any account receivable constituting a retainage; (xii) any account receivable for goods which have not been shipped or work which has not been fully performed; (xiii) any account receivable owed by any person outside the United States of America, except account debtors approved in writing by the Bank (approved foreign account debtors are described on Exhibit B) ; (xiv) any account receivable owed by any person with whose creditworthiness the Bank becomes dissatisfied; and (xv) any account receivable in which the Bank does not have a perfected security interest constituting a first hen. In the event the Borrower owes any amount to any person that owes an account receivable to the Borrower, such amount owed by the Borrower shall be deducted from that portion of the account receivable which would otherwise qualify as an Eligible Account Receivable and only the difference thereof shall be considered an Eligible Account Receivable. No account receivable which does not qualify as an Eligible Account Receivable shall be considered an Eligible Account Receivable unless the Bank, upon the written request of the Borrower, states in writing that such account receivable is to be considered an Eligible Account Receivable.

  • Committed Equipment Line means a credit extension of up to Three Million Dollars ($3,000,000.00).

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

  • Inventory Reserve means reserves established by the Administrative Agent to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks.

  • Extraordinary Advances has the meaning specified therefor in Section 2.3(d)(iii) of this Agreement.

  • Inventory Tracking System means the required tracking

  • Protective Advances has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • Credit Card Advance Rate means 90%.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).