Inventory Advances definition

Inventory Advances the loans and advances made from time to time by Factor to Client under this Supplement.

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Inventory Advances as defined in Section 2.1.1.

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.

Examples of Inventory Advances in a sentence

• Each such refinancing shall consist of the creation of a new “placeholder note” on the books of Bank which evidences the Financed Receivable Balance with respect to all Exim Inventory Advances which are outstanding.

• 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.

• If, at any time, the aggregate amount of Exim Inventory Advances outstanding at any time exceed the maximum amounts set forth in this provision, Borrower shall immediately pay to Bank the excess and, in connection with same, hereby irrevocably authorizes Bank to debit any account of Borrower maintained by Borrower with Bank or any of Bank’s Affiliates for the amount of such excess.

• Such Inventory Advances and/or Account Advances shall bear interest and be repayable in accordance with, and be treated in all other respects pursuant to the terms hereof.

• Except as set forth in Section 2.3(b), the Inventory Advances shall bear interest, on the outstanding Daily Balance thereof, at a rate equal to one and one half of one percent (1.50%) above the Prime Rate.

More Definitions of Inventory Advances

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)."

Inventory Advances advances made pursuant to the second sentence of subsection 2.1.1. 1. 29A "INVENTORY ALLOWABLE AMOUNT" - the lesser of the Inventory Borrowing Base and the Inventory Maximum Commitment.

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.

Inventory Advances means an advance (or advances) under the Inventory Sublimit.

Inventory Advances shall have the meaning set forth in Section 2.3.

Inventory Advances means Advances that are based upon Eligible Inventory.

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