Receivable Borrowing Base definition

Receivable Borrowing Base set forth in Section 1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Sample 1Sample 2
Receivable Borrowing Base means at any time the lesser of (a) $15,000,000 or (b) the sum of (i) ninety percent (90%) of the Borrower's Eligible Retail Receivables; (ii) eighty-five percent (85%) of the Borrower's Eligible Store Receivables; (iii) seventy-five percent (75%) of the Borrower's Eligible Foreign Receivables; and (iv) the lesser of (A) seventy-five percent (75%) of the Borrower' Eligible Repossessed Inventory or (B) the sum of $500,000.
Sample 1
Receivable Borrowing Base means, at any time, the lesser of (a) $20,000,000 or (b) the sum of (i) ninety percent (90%) of the Borrower's Eligible Retail Receivables; (ii) eighty percent (80%) of the Borrower's Non-Eligible Receivables; plus (iii) eighty-five percent (85%) of all Eligible Store Receivables all as determined in accordance with GAAP, as set forth on the most recent Retail Receivable Borrowing Base Certificate required to be submitted hereunder.
Sample 1

Examples of Receivable Borrowing Base in a sentence

  • Accounts Receivable Borrowing Base: 80% of Eligible Accounts of from time to time outstanding, plus the lesser of $3,500,000 or 80% of the Eligible Foreign Accounts of Strategies, Physics, MXL Industries, Inc.

  • Borrowing Base: (i) Accounts Receivable Borrowing Base; plus (ii) the Marketable Securities Borrowing Base; plus (iii) the Overadvance Amount (as reduced from time to time).

  • By Name Title of Borrower Exhibit D to Credit Agreement (Borrowing Base Certificate) Xxxxxxx Xxxxx Capital Accounts Receivable Borrowing Base Report Xxxxxxx Xxxxx Capital BBR Date: August 19, 2004 Report #: July 31, 2004 Name: Reliant Pharmaceuticals, Inc.

  • Debtor shall pay to Secured Party with each such accounting an amount equal to the aggregate of such reductions of the Receivables Borrowing Base resulting therefrom, such payment to be applied directly to Advances unless Secured Party, in its sole discretion, waives its right to such payment where, after such reductions of the Receivable Borrowing Base, the total outstanding Advances to Debtor under this Agreement do not exceed the Borrowing Capacity as then computed.

  • Subject to the Notes Receivable Borrowing Base limitations and subject to Bank’s receipt of a completed Notes Receivable Borrowing Base Certificate, Bank may, in its discretion, make Advances to Borrower in accordance with the terms and conditions of this Loan Agreement, at any time and from time to time, on or after the date hereof until the Maturity Date, or until the occurrence of an event which with the giving of notice or the passage of time, or both, shall constitute an Event of Default.

  • Subject to the Conditions of Lending set forth in Section 4 hereof, each Lender may, in its sole discretion, make Advances to the Borrower up to its Receivable Commitment from time to time from the date of this Credit Agreement through the Termination Date; provided, however, that such Lender shall not consider making any such Advance, if after giving effect to such Advance, the aggregate outstanding principal amount of all Advances would exceed the then current Retail Receivable Borrowing Base.

  • Upon the occurrence of any Capital Raising Events pursuant to which any Borrower or any Subsidiary receives an aggregate of $50,000,000 or more, the percentage of Eligible Domestic Accounts Receivable allowed in the Domestic Accounts Receivable Borrowing Base shall immediately be reduced to 65%.

  • Eligible Accounts Receivable Borrowing Base Amount [Item 4.D. from Annex 1a attached hereto] $______________ B.

  • All Eligible Notes Receivable included in the Notes Receivable Borrowing Base meet the criteria for Eligible Notes Receivable.

  • The Receivable Borrowing Base will be reduced by the amount of all credits reflected in an accounting required by Section 9.2(b) and may, in the sole discretion of Secured Party, be reduced by the full amount of any Receivable for which Extensions were granted.


More Definitions of Receivable Borrowing Base

Receivable Borrowing Base means ninety percent (90%) of Eligible Receivables provided, however, the Receivable Borrowing Base shall not exceed Nine Million Dollars ($9,000,000.00).
Sample 1

Related to Receivable Borrowing Base

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Eligible borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • Borrowing Base Amount means, as of any date, an amount equal to the sum of:

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Borrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form of Exhibit H or another form which is acceptable to the Administrative Agent in its sole discretion.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Revolving Advance has the meaning given in Section 2.1.

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • Credit Card Advance Rate means 90%.

  • 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.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.