Examples of Eligible Domestic Accounts Receivable in a sentence
The books and records of Borrower and all records pertaining to Eligible Domestic Accounts Receivable and Eligible Domestic Inventory are located at the office location for such Borrower listed on Exhibit N.
Amounts available under the $1,500,000 revolver are limited to the amount available based on the level of Tangible Net Worth, as defined, and to 60% of Eligible Domestic Accounts Receivable plus 40% of Eligible Foreign Accounts Receivable, as defined ($1,150,000 and $1,164,000 at December 31, 1997 and March 31, 1998, respectively).
The Borrowers will not permit the ratio cash plus of the aggregate amount of Eligible Domestic Accounts Receivable and Eligible International Accounts Receivable (excluding in any event from such calculation accounts receivable falling within the definition of Apple Collateral as such term is defined in the Intercreditor Agreement dated as of October 18, 1994 between Focus Enhancements, Inc., the Bank and Fred Kassner) to aggregate Extensions of Credit to exceed 2.5 to 1 xx xhe end of any month.
Such loans and advances shall be in amounts up to: A) eighty-five percent (85%) of the outstanding Eligible Domestic Accounts Receivable of the Company, B) eighty-five percent (85%) of the outstanding Eligible Foreign Accounts Receivable of the Company, and C) twenty-five percent (25%) of Eligible Domestic Finished Goods, at lower of cost or market, but not to exceed the Inventory Sub-Limit from time to time in effect.
The Eligible Domestic Accounts Receivable are bona fide existing obligations.