Maximum Inventory Advance definition

Maximum Inventory Advance means the lesser of Two Million Five Hundred Thousand and 00/100 Dollars ($2,500,000.00) or Fifty percent (50%) of the A R Borrowing Base.”

Maximum Inventory Advance means the lesser of Five Hundred Thousand and 00/100 Dollars ($500,000.00) or fifty percent (50%) of the NR Borrowing Base.

Maximum Inventory Advance means i) beginning December 1, 2011 and continuing through September 30, 2012, the lesser of Two Million and 00/100 Dollars ($2,000,000.00) or fifty percent (50%) of the A R Borrowing Base; ii) beginning October 1, 2012 and continuing through December 31, 2012, the lesser of One Million Seven Hundred Fifty Thousand and 00/100 Dollars ($1,750,000.00) or Fifty percent (50%) of the A R Borrowing Base; and iii) beginning January 1, 2013, and continuing thereafter, the lesser of One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) or fifty percent (50%) of the A R Borrowing Base.

Examples of Maximum Inventory Advance in a sentence

• DOCUMENTS INCORPORATED BY REFERENCEPortions of the registrant’s Definitive Proxy Statement to be filed for its 2022 Annual Meeting of Shareholders are incorporated by reference into the sections of this Form 10-K addressing the requirements of Part III of Form 10-K.

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

• Subsection (d)(iii) of Section 2.1 of the Loan Agreement is hereby amended by deleting "$35,000,000" in the last line thereof and inserting "the Maximum Inventory Advance Amount" in its place and stead.

• Subsection (c)(iii) of Section 2.1 of the Loan Agreement is hereby amended by deleting "$35,000,000" in the last line thereof and inserting "the Maximum Inventory Advance Amount" in its place and stead.

• Subsection (a)(II)(iii)(x) of Section 2.1 of the Loan Agreement is hereby amended by deleting "$35,000,000" and inserting "the Maximum Inventory Advance Amount" in its place and stead.

More Definitions of Maximum Inventory Advance

Maximum Inventory Advance means: (a) as of the June 7, 2013, the lesser of One Hundred Eighty-three Thousand and 00/100 Dollars ($183,000.00) or fifty percent (50%) of the A/R Borrowing Base, which sum shall be permanently reduced pursuant to the payment schedule in Section 2.2.8, below; and b) effective as of the date of the payment that reduces the balance to $0.00, and continuing thereafter, Zero and 00/100 Dollars ($0.00) or zero percent (0.00%) of the A/R Borrowing Base (the “Maximum Inventory Advance”).”

Maximum Inventory Advance means the lesser of the sum of n/a Dollars ($ n/a ) or n/a percent ( n/a %) of the A/R Borrowing Base.

Maximum Inventory Advance means the lesser of--------n/a-------- Dollars ($--------n/a ) or --------11/a-------- percent ( --------11/a--------%) of the aggregate Net Face Amount of Prime Accounts.

Maximum Inventory Advance means $300,000.

Maximum Inventory Advance means the lesser of seven hundred fifty thousand Dollars ($750,000) or eighty percent (80%) of the aggregate Net Face Amount of Prime Accounts.

Maximum Inventory Advance means a) beginning on the Effective Date of the Eleventh Modification to Loan and Security Agreement, and continuing through February 26, 2015, the lesser of Three Million Five Hundred Thousand and 00/100 Dollars ($3,500,000.00) or One Hundred percent (100%) of the A.R Borrowing Base; and b) beginning on February 27, 2015 and continuing thereafter the lesser of Three Million Five Hundred Thousand and 00/100 Dollars ($3,500,000.00) or Sixty-Five percent (65%) of the A R Borrowing Base.”

Maximum Inventory Advance means a) effective December 7, 2007 and continuing through February 29, 2008, the lesser of One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) or fifty percent (50%) of the A R Borrowing Base; b) effective March 1, 2008 and continuing through March 31, 2008, the lesser of One Million Three Hundred Thirty-three Thousand Three Hundred and Thirty-three and 00/100 Dollars ($1,333,333.00) or fifty percent (50%) of the A R Borrowing Base; c) effective April 1, 2008 and continuing through April 30, 2008, the lesser of One Million One Hundred Sixty Six Thousand Six Hundred Sixty Seven and 00/100 Dollars ($1,166,667.00) or fifty percent (50%) of the A R Borrowing Base; and d) effective May 1, 2008 and thereafter, the lesser of One Million and 00/100 Dollars ($1,000,000.00) or fifty percent (50%) of the A R Borrowing Base.