POSNET definition

POSNET. ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ (prior to June 27, 1998) ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, Irvine, California 92614 (after June 27, 1998) Borrower's Federal Tax Identification Number (Section 5.16): Javelin: ▇▇-▇▇▇▇▇▇▇ CCI: ▇▇-▇▇▇▇▇▇▇ Posnet: ▇▇-▇▇▇▇▇▇▇ Permitted Encumbrances (Section 1.1): See EXHIBIT B. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- FINANCIAL COVENANTS (SECTION 6.1.13): Borrower shall comply with all of the following covenants. Compliance shall be determined as of the end of each month (or, for so long as no Event of Default exists and Borrower maintains Excess Availability of not less than $1,500,000 and a Total Debt Service Coverage Ratio of not less 1.25:1.0, quarterly), except as otherwise specifically provided below: CURRENT RATIO. Borrower shall maintain a ratio of Current Assets to Current Liabilities of not less than 1.15 to 1.0;
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POSNET. A revolving line of credit to Posnet consisting of loans against Posnet's Eligible Receivables and against Posnet's Eligible Inventory in an aggregate outstanding principal amount not to exceed the lesser of (a) or (b) below:
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POSNET means Posnet Computers, Inc., a California corporation.
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Examples of POSNET in a sentence

  • By: /s/ [ILLEGIBLE] ----------------------------------------- Its: CHIEF FINANCIAL OFFICER ----------------------------------------- POSNET COMPUTERS, INC.

  • POSNET -- The Pennsylvania Open Systems Network (POSNet) which is a peer-to-peer network based on open systems products and protocols.

  • Company" shall mean POSNET Computers, Inc., a California corporation.

  • TAX ID #▇▇-▇▇▇▇▇▇▇ BY ------------------------------------- PRESIDENT OR VICE PRESIDENT POSNET COMPUTERS, INC.