Common use of Advance Amounts Clause in Contracts

Advance Amounts. Provided there does not exist an Event of Default under the ARPA or this Rider, Purchaser may make advances to or for the benefit of Seller in an aggregate amount up to and not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00) from time to time during the term of this Rider and upon Seller’s request therefore, which advances shall be subject to all of the terms and conditions of the ARPA and shall be revolving consisting of advances against Seller’s Eligible Inventory (as defined in section 2.6 below) as follows: The advances against Eligible Inventory, at Purchaser’s discretion, will be in amounts up to the sum fifty percent (50%) of all Eligible Inventory; provided, however, the advances against Eligible Inventory shall at no time exceed thirty three percent (33%) (known as “balance cap percentage”) of the net outstanding purchased accounts under the ARPA plus the outstanding amount due, or net funds employed, from advances made on eligible inventory within conditions contained within this Rider. The balance cap percentage shall be twenty five percent (25%) after 120 days from date of this Inventory Rider. Eligible Inventory will be valued at the lower of cost or market value.

Advance Amounts. Provided there does not exist an Event of Default under the ARPA or this Rider, Purchaser may make advances to or for the benefit of Seller in an aggregate amount up to and not to exceed Two Seven Hundred Fifty Thousand Dollars and 00/100 Cents ($250,000.00) 700,000.00), from time to time during the term of this Rider and upon Seller’s request thereforetherefor, which advances shall be subject to all of the terms and conditions of the ARPA and shall be revolving revolving, consisting of advances against Seller’s Eligible Inventory (as defined in section 2.6 2.7 below) as follows: The advances against Eligible InventoryAny advance under this Rider, at Purchaser’s sole discretion, will be in amounts up to the sum fifty of thirty percent (5030%) of all Eligible Inventory; provided, however, the advances against Eligible Inventory advance shall at no time exceed thirty three forty percent (3340%) (known as “balance cap percentage”) of the net all total outstanding purchased accounts Purchased Accounts under the ARPA plus the outstanding amount due, or net funds employed, from advances made on eligible inventory (specifically excluding Purchased Accounts aged over ninety (90) days) and products scheduled to be shipped in satisfaction of customer purchase orders within conditions contained within this Rider. The balance cap percentage shall be twenty five percent ninety (25%90) after 120 days from date of this Inventory Riderdays. Eligible Inventory will be valued at the lower of cost or market value.