Account Advances. Advances are transactions other than Purchases that allow you direct access to funds available through your Account. Advances may include Account transactions such as cash advances you obtain directly from us, other participating financial institutions, ATMs, Telephone Transfers, Balance Transfers, or Convenience Checks. Monthly Account statements we issue may refer to Advances as “Advance”, “Cash”, “Cash Advances” or by the product or device you used to obtain an Advance. You may use your Account to obtain cash either by presenting your Card at any bank or other financial institution that accepts the Card or by making a withdrawal of cash at an ATM. We may restrict the amount of the credit limit that is available for Advances. If an Advance limit greater than the percentage available is requested, it will be subject to credit approval. You may be limited in the amount and/or number of Advances you may make on your Account.
Account Advances. In Factor’s sole discretion, subject to the terms and conditions of this Agreement, Factor may from time to time advance to Client up to seventy-five percent (75.0%) of the aggregate Net Invoice Amount of Domestic Accounts outstanding at the time any such Account Advance is made, except Factor may, in Factor’s sole discretion, advance to Client up to fifty percent (50.0%) of the aggregate Net Invoice Amount of Costco Accounts outstanding at the time any such advance is made, in either case provided that dilution is ten percent (10%) or less on a trailing 12 month basis, less: (1) Any such Accounts that are in Dispute; (2) any such Accounts that are not acceptable to Factor in its sole discretion; (3) the amount of the Reserve; and (4) any interest, fees and other items, actual or estimated, that are chargeable to the Reserve. The Account Advances shall be reduced by a minimum of two percent (2.0%) for every one percent (1.0%) of dilution in excess of ten percent (10.0%). Factor shall not make account advances to Client for Foreign Accounts at any time.
Account Advances. Notwithstanding anything to the contrary in the Loan Documents, no Account Advances shall be made on the Loan if, after making the requested Account Advance, the total, aggregate, principal amount of all Account Advances outstanding will exceed the lesser of: (i) the total, face amount of all outstanding Eligible Accounts multiplied by the Account Advance Rate, or (ii) together with the aggregate amount of all outstanding Inventory Advances, the Maximum Loan Amount.
Account Advances. Borrower will repay each Account Advance on the earliest of: (a) the date on which payment is received of the Financed Receivable with respect to which the Advance was made, (b) the date on which the Financed Receivable is no longer an Eligible Account, (c) the date on which any Adjustment is asserted to the Financed Receivable (but only to the extent of the Adjustment if the Financed Receivable otherwise remains an Eligible Account), (d) the date on which there is a breach of any representation or warranty in Section 5.3 of this Agreement, or (e) the Maturity Date (including any early termination). Each payment will also include all accrued Finance Charges and Collateral Handling Fees with respect to such Account Advance and all other amounts then due and payable hereunder. Notwithstanding the foregoing, at any time that Borrower is Borrowing Base Eligible, (x) Borrower will repay each Account Advance on the earliest to occur of (i) the Maturity Date (including any early termination), or (ii) when required to be repaid under Section 2.1.1(i); and (y) at any time that the aggregate outstanding principal amount of the Advances exceeds the amount of Account Advances available against Eligible Accounts (as determined by Bank), Borrower shall immediately pay to Bank the excess. Borrower may prepay any Account Advances hereunder at any time without premium or penalty.
Account Advances. In Factor’s sole discretion, subject to the terms and conditions of this Agreement, Factor may from time to time advance to Client up to [***] of the aggregate Net Invoice Amount of Accounts outstanding at the time any such advance is made, less: (1) Any such Accounts that are in Dispute; (2) any such Accounts that are not Approved Accounts; (3) the amount of the Reserve; (4) any interest, fees and other items, actual or estimated, that are chargeable to the Reserve; and (5) the amount of any Letters of Credit not deducted pursuant to section 3.2 (a). In Factor’s sole discretion, subject to the terms and conditions of this Agreement, Factor may from time to time consider certain foreign accounts as Eligible Accounts so long as they are less than [***] of Client’s total sales. Prior to any advance to Client on any foreign accounts that may be considered Eligible Accounts, the foreign accounts are subject to satisfactory credit approval by Factor or credit insurance.
Account Advances. In Factor’s sole discretion, subject to the terms and conditions of this Agreement, Factor may from time to time advance to Client up to eighty percent (80.0%) of the aggregate Net Invoice Amount of Accounts outstanding at the time any such Account Advance is made, with dilution of ten percent (10%) or less on a trailing 12 month basis, less: (1) Any such Accounts that are in Dispute; (2) any such Accounts that are not acceptable to Factor in its sole discretion; (3) the amount of the Reserve; and (4) any interest, fees and other items, actual or estimated, that are chargeable to the Reserve; or (5) the amount of any Letters of Credit not deducted pursuant to Section 3.2(a). The Account Advances shall be reduced by a minimum of two percent (2%) for every one percent (1%) of dilution in excess of ten percent (10%).
