Maximum Advance definition

Maximum Advance. On any Measurement Date, an amount equal to the sum for each Eligible Receivable of the product of (a) 85%, (b) the Outstanding Receivable Balance of such Receivable on such Measurement Date and (c) the applicable percentage for such Receivable set forth below determined as of the Closing Date. Receivable Type Applicable Percentage Payments current 100% 31-60 days delinquent 80% 61-90 days delinquent 50% 91-120 days delinquent 30% Current Bankrupt Receivable 90% “Same as Cash” Receivable 95%

Maximum Advance means, as of any date of determination:

Maximum Advance means, as of any date of determination, the lesser of (i) $100,000,000 and (ii) an amount equal to the sum of (x) the applicable Maximum Advance Rate multiplied by the aggregate unpaid principal balance of the Eligible Receivables that are not Delinquent Receivables minus any Excess Concentration Amounts in respect of such Receivables and (y) the applicable Maximum Advance Rate multiplied by the aggregate unpaid principal balance of the Eligible Receivables that are Delinquent Receivables minus any Excess Concentration Amounts in respect of such Receivables.

Examples of Maximum Advance in a sentence

• At any time during the Commitment Period, the Company may deliver an Advance Notice to the Investor, subject to the conditions set forth in Section 7.2; provided, however, the amount for each Advance as designated by the Company in the applicable Advance Notice, shall not be more than the Maximum Advance Amount.

• The amount of an Advance requested by the Company shall not exceed the Maximum Advance Amount.

• At any time during the Commitment Period, the Company may request the Investor to purchase shares of Common Stock by delivering a Drawdown Notice to the Investor, subject to the conditions set forth in Section 7.2; provided, however, the amount for each Advance as designated by the Company in the applicable Drawdown Notice shall not be more than the Maximum Advance Amount and the aggregate amount of the Advances pursuant to this Agreement shall not exceed the Commitment Amount.

• At any time during the Commitment Period, the Company may deliver an Advance Notice to the Investor, subject to the conditions set forth in Section 7.2; provided, however, the amount for each Advance as designated by the Company in the applicable Advance Notice shall not be more than the Maximum Advance Amount.

• At any time during the Commitment Period, the Company may require the Investor to purchase shares of Common Stock by delivering an Advance Notice to the Investor, subject to the conditions set forth in Section 7.2; provided, however, the amount for each Advance as designated by the Company in the applicable Advance Notice shall not be more than the Maximum Advance Amount and the aggregate amount of the Advances pursuant to this Agreement shall not exceed the Commitment Amount.

More Definitions of Maximum Advance

Maximum Advance means, in relation to a Ship, the amount set out in the column titled “Maximum Advance (60% of Contract Price)” of Schedule 6 in respect of that Ship;

Maximum Advance means, as of any date of determination, the lesser of (A) $50,000,000 and (B) the product of (x) the Average Maximum Advance Rate and (y)(i) the aggregate unpaid principal balance of the Eligible Receivables minus (ii) any Excess Concentration Amounts.

Maximum Advance shall have the meaning ascribed to it in Section 2(a) hereof.

Maximum Advance has the meaning set forth in Section 2.01(b).

Maximum Advance. On any Measurement Date, an amount equal to (A) the sum of (i) the Class A Maximum Advance and (ii) the Class B Maximum Advance minus (B) the Excess Concentration Amount.

Maximum Advance an amount, per Schedule A, equal to and not to exceed the total amount payable by Triumph to Client based on the Advance Rate portion of all Purchased Accounts offered during the Term of this Agreement and not Closed. Triumph may elect not to purchase any Account which will cause the unpaid balance of Purchased Accounts to exceed the Maximum Advance. However, if Triumph purchases Accounts in excess of the Maximum Facility, same shall have no adverse consequences to Triumph’s rights under this Agreement.

Maximum Advance. RATE" means 93%.