Inventory Cap definition

Inventory Cap means fifty percent (50%) of the amount of the Borrowing Base Limitation.

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Inventory Cap has the meaning set forth in Section 5.1.3;

Inventory Cap means Twenty Five Million Dollars ($25,000,000).

Examples of Inventory Cap in a sentence

If prior to Closing Seller determines in good faith that it is in the interest of the Business to pre-buy raw materials for the manufacture of Inventory, Seller shall so notify Purchaser and Seller and Purchaser shall negotiate in good faith to increase the Inventory Cap as appropriate, to reflect the Closing Date impact of such pre-buy on the Closing Date Inventory.
Any dispute relating to the new Inventory Cap shall be resolved in accordance with Section 2.6(f).
The Bank, in its sole discretion, reserves the right upon 30 days prior written notice to the Borrower to increase or decrease the foregoing percentages or the Inventory Cap.
The Guarantor hereby acknowledges and agrees to the increase in the amount of maximum credit extended to Borrower pursuant to the Amendment and acknowledges and agrees that the Guarantee applies to the Obligations owed by Borrower under and pursuant to the Loan Agreement, as amended by the Amendment, including, without limitation, the increase in the definitions of Inventory Cap Adjustment and Maximum Credit to $30,000,000 and $60,000,000 respectively.
Pursuant to the procedure set forth in this Section 2.22 and so long as no Default Period then exists, the Borrowers from time to time may increase one or more of the Investment Cap, the Rental Inventory Cap and the Capital Expenditures amounts set forth in Section 7.10 in an aggregate amount equal to Available Additional Capital (the “Additional Capital Increase”).

More Definitions of Inventory Cap

Inventory Cap has the meaning ascribed to it in the definition of "Borrowing Base".

Inventory Cap shall have the meaning set forth in Section 2.1(b).

Inventory Cap means, initially, $10,000,000; provided, that, (x) after the first anniversary of the Closing Date, such cap may be increased to $15,000,000 to the extent the following conditions have been met: (i) Agent (or, during any Third Party Agent Retention Period, the Third Party Agent) shall have received an appraisal detailing the value of Borrowers’ Intellectual Property, in scope and with results acceptable to Agent (and, during any Third Party Agent Retention Period, also the Third Party Agent) and (ii) Borrowers ’ shall have achieved TTM EBITDA of greater than $0 for two consecutive fiscal quarters and (y) the Inventory Cap shall be reduced to $0 in the event that Market Capitalization of Endologix is less than $200,000,000.25,000,000.

Inventory Cap means up to the sum of $3,500,000.00 for the months of January through and including May each calendar year and $4,500,000.00 for the months June through and including December of each calendar year.

Inventory Cap means $5,000,000.

Inventory Cap means the amount of FIVE MILLION AND NO/100 DOLLARS ($5,000,000.00) during the period commencing as of the Closing Date and continuing through October 31, 1995, SIX MILLION AND NO/100 DOLLARS ($6,000,000.00) during the period commencing as of November 1, 1995 and continuing through October 31, 1996 and SEVEN MILLION AND NO/100 DOLLARS ($7,000,000.00) during the period commencing as of November 1, 1996 and continuing through the Revolving Credit Termination Date.

Inventory Cap means, initially, $10,000,000; provided, that, (x) after the first anniversary of the Closing Date, such cap shall be increased to $15,000,000 to the extent the following conditions have been met: (i) Agent (or, during any Third Party Agent Retention Period, the Third Party Agent) shall have received an appraisal detailing the value of Borrowers’ Intellectual Property, in scope and with results acceptable to Agent (and, during any Third Party Agent Retention Period, also the Third Party Agent) and (ii) Borrowers shall have achieved TTM EBITDA of greater than $0 for two consecutive fiscal quarters and (y) the Inventory Cap shall be $0 (I) as of any date of determination during the period commencing on the Fourth Amendment Effective Date and ending on January 1, 2022, if the Market Capitalization of Endologix as of such date is less than $10,000,000, or (II) as of any date of determination thereafter, if the Market Capitalization of Endologix as of such date is less than $25,000,000.