Invoice Advance Rate definition

Invoice Advance Rate is eighty percent (80.0%), net of any offsets related to each specific Account Debtor including, without limitation, Deferred Revenue; provided, however that when Borrower’s T6M EBITDA is greater than $1.00, the Invoice Advance Rate is eighty percent (80.0%), net of any offsets, other than Deferred Revenue.

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Examples of Invoice Advance Rate in a sentence

• Bank may, in its good faith business discretion, finance such Eligible Accounts by extending credit to Borrowers in an amount equal to the result of the Invoice Advance Rate multiplied by the face amount of the Eligible Account (an “Invoice Advance”).

• At all other times, the Invoice Advance Rate will apply and Bank will finance Borrower’s Eligible Accounts as set forth herein.

• During any month in which the Invoice Advance Rate applies, the aggregate face amount of all Financed Receivables outstanding at any time may not exceed the Facility Amount.

• Subject to the terms of this Agreement, during any Subject Month in which the Invoice Advance Rate applies, Borrowers may request that Bank finance specific Eligible Accounts.

• Bank may, in its sole discretion, (a) change the percentage of the Invoice Advance Rate for a particular Eligible Account on a case by case basis or (b) change the percentage of the Collections Advance Rate.