MULTIPLE BORROWERS definition

MULTIPLE BORROWERS. The "Borrower" as defined in Section 1.1 and identified in Section 10.5(c) consists of five "Borrowers". A request for a Revolving Loan shall be made by a particular Borrower, with all relevant determinations with respect to such request to be based on such Borrower's individual criteria, such as the amount of its Eligible Accounts, Eligible Inventory and Net Availability. Notwithstanding the foregoing, the maximum aggregate amount outstanding for all Borrowers shall at no time exceed $3,000,000. Except as provided in this Section 10.7 and as otherwise specifically provided, "Borrower" shall be defined as set forth in Section 1.1 hereof.
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MULTIPLE BORROWERS. THE "BORROWER" AS DEFINED IN SECTION 1.1 AND IDENTIFIED IN SECTION 10.5(C) CONSISTS OF TWO "BORROWERS". A REQUEST FOR A REVOLVING LOAN SHALL BE MADE BY A PARTICULAR BORROWER, WITH A11 RELEVANT DETERMINATIONS WITH RESPECT TO SUCH REQUEST TO BE BASED ON SUCH BORROWER'S INDIVIDUAL CRITERIA, SUCH AS THE AMOUNT OF ITS ELIGIBLE ACCOUNTS, ELIGIBLE INVENTORY, AND NET AVALLABILTY. NOTWITHSTANDING THE FOREGOING, THE MAXIMUM AGGREGATE AMOUNT OUTSTANDING FOR ALL BORROWERS SHALL AT NO TIME EXCEED $2,000,000. EXCEPT AS PROVIDED IN THIS SECTION 10.7 AND AS OTHERWISE SPECIFICALLY PROVIDED, "BORROWER" SHALL BE DEFINED AS SET FORTH IN SECTION 1.1
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Examples of MULTIPLE BORROWERS in a sentence

  • Excluding the name of the Corporation, the following is a complete list of all assumed business names under which the Corporation does business: Assumed Business Name Filing Location Date --------------------- --------------- ---- MULTIPLE BORROWERS.

  • Excluding the name of the Company, the following is a complete list of all assumed business names under which the Company does business: Assumed Business Name Filing Location Date --------------------- --------------- ---- ON FILE WITH LENDER, IF APPLICABLE 08-22-2001 MULTIPLE BORROWERS.

  • There shall not exist at the time of any Advance a condition which would constitute an Event of Default under this Agreement or under any Related Document, MULTIPLE BORROWERS.

Related to MULTIPLE BORROWERS

  • Applicable Borrower means, with respect to any Loan or other amount owing hereunder or any matter pertaining to such Loan or other amount, whichever of the Borrowers is the primary obligor on such Loan or other amount.

  • U.S. Borrowers have the meanings specified in the preamble to this Agreement.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • U.S. Borrower means any Borrower that is a U.S. Person.