Inventory Borrowing Base definition

Inventory Borrowing Base has the meaning set forth in the definition of Borrowing Base.

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Inventory Borrowing Base means an amount equal to the sum of up to fifty percent (50%) of Eligible Inventory of the Company, Allied B.V. and Eligible Inventory Guarantors.

Inventory Borrowing Base means, at the time of computation, an amount up to the percentages specified in Item 2 of the Schedule of the U.S. Dollar value of Eligible Inventory, Eligible Consigned Inventory and Eligible Distributor Inventory in which the Agent for the benefit of the Lenders and itself as Agent has a first priority perfected security interest, such dollar value to be calculated at the lower of the Borrower’s prevailing standard cost (determined on a basis consistent with past practices) or market value and accounted for in the manner specified in Item 7 of the Schedule, less the amount of any reserves established by the Agent in accordance with Section 2.1.

Examples of Inventory Borrowing Base in a sentence

The amount of such reserves shall be subtracted from the Receivables Borrowing Base or Inventory Borrowing Base, as applicable, when calculating the amount of the Borrowing Capacity.
Borrower shall draw all available funds under the A/R Borrowing Base prior to drawing any available funds under the Inventory Borrowing Base.
At such time that amounts advanced under the A/R Borrowing Base have been paid in full, with no further intention on the part of Lender to make further Advances, or on the part of Borrower to obtain further Advances, amounts advanced under the Inventory Borrowing Base shall also be due and payable in full.
The Inventory Borrowing Base Certificate shall be in the form attached hereto as Schedule 3(e) or in such other form as required by FGI, and shall be signed by a duly authorized representative of Seller.
In addition to making appropriate adjustments to the Receivables Borrowing Base and the Inventory Borrowing Base to reflect the return of such Inventory, Secured Party may, in its sole discretion, request Debtor to pay Secured Party an amount equal to the consideration to have been paid for such Inventory by the Account Debtor, such payment to be applied directly to unpaid Advances.

More Definitions of Inventory Borrowing Base

Inventory Borrowing Base means, the lesser of: (i) $5,500,000 or (ii) at the time of computation, 65% of the dollar value of Eligible Inventory, such dollar value to be calculated at the lower of actual cost or market value and accounted for on a "first in, first out" basis, less the amount of any reserves established by the Senior Holder with respect thereto.

Inventory Borrowing Base means, as to any Borrower, at any time and from time to time, an amount equal to N/A % of the face amount of such Borrower's then existing "Eligible Inventory" (as defined in Paragraph B below), which may be terminated or reduced as hereinabove provided.

Inventory Borrowing Base an amount equal to thirty percent (30%) of Eligible Inventory.

Inventory Borrowing Base means, for any Borrower at any time, the sum of (a) up to 15% of the Dollar Equivalent of the value of the Eligible Parts and Supplies of such Borrower at such time (valued, in each case, at the lower of (i) its orderly liquidation value the calculation of which shall be as determined by reference to the calculations set forth in the most recent Appraisal made thereof and (ii) the lower of cost and market on a first-in, first-out basis) and (b) the lesser of (i) up to 70% of the Dollar Equivalent of the Loan Value of Eligible Inventory (other than Eligible Parts and Supplies and other packaging, spare parts and supplies) of such Borrower at such time and (ii) up to 85% of the Dollar Equivalent of the Liquidation Value of Eligible Inventory (other than Eligible Parts and Supplies and other packaging, spare parts and supplies) of such Borrower at such time.

Inventory Borrowing Base appearing in Section 1 of the Agreement, shall be amended at the end of the Temporary Increase Period (as defined below) so that the percentage of "60%" appearing in the first line of such definition, shall be replaced with the percentage "55%".

Inventory Borrowing Base in respect to any Liquidation Sale shall mean the product of (i) the Inventory Advance Rate applicable to such Liquidation Sale, times, (ii) the Guaranteed Amount or Purchase Price as determined pursuant to the applicable Liquidation Sales Agreement and/or the terms of the applicable Permitted Capital Assets Transaction. For purposes of calculating the Inventory Borrowing Base, except as may otherwise be agreed by Lender in its sole discretion, any Retail Inventory that is subject to retention of title claims shall not be included in the “Guaranteed Amount” or “Purchase Price”, notwithstanding anything to the contrary in any Liquidation Sales Agreement or other agreement.

Inventory Borrowing Base means at any time, for the Borrowers in the aggregate, an amount equal to the lesser of (A) $25,000,000, (B) sixty percent (60%) of the sum of (i) Eligible Inventory at Cost plus (ii) the face amount of Eligible Letters of Credit prior to the time title to the Inventory on order and documented under such Eligible Letters of Credit passes to a Borrower, (C) eighty-five percent (85%) of the sum of (i) Eligible Inventory at its Appraised OL Value plus (ii) the Appraised OL Value of the Inventory on order and documented under Eligible Letters of Credit prior to the time title to such Inventory passes to a Borrower, or (D) the Accounts Borrowing Base. The Agent shall have, and reserves, the right at any time, in its reasonable credit judgment, to adjust the foregoing advance rate percentages.