ADVANCE FORMULA Sample Clauses

ADVANCE FORMULA. For and in consideration of Bank making the Formula Loans available to Debtor, Debtor warrants and agrees that the aggregate unpaid principal balance of Debtor's indebtedness to Bank outstanding under the Formula Loans shall not at any time exceed the Advance Formula. The "Advance Formula" shall mean the lesser of (i) the face amount of the Note, or (ii) the sum of the following:

ADVANCE FORMULA. Debtor warrants and agrees that Debtor's indebtedness to Bank for the Formula Loans shall never exceed the sum of: (a) the Applicable Percentage of its Eligible Accounts, as hereinafter defined; plus (b) thirty percent (30%) of its Eligible Inventory, as hereinafter defined.

ADVANCE FORMULA. Debtor warrants and agrees that Debtor's indebtedness to Bank for the Formula Loans shall never exceed the sum of: 14.1 Eighty percent (80%) of its Eligible Accounts, as hereinafter defined; plus 14.2 the lesser of (i) twenty-five percent (25%) of its Eligible Inventory, as hereinafter defined, (ii) Two Million Two Hundred Fifty Thousand Dollars ($2,250,000; provided, however, that beginning on ________________, 2005, no more than fifty percent (50%) of the outstanding Formula Loans as of any date of determination may be based on this sub-section (b); minus

ADVANCE FORMULA. All Advances to Borrower under the Line of Credit Note shall be made under the following Loan Advance Formula: A. 70% of Borrower's Eligible Accounts, plus

ADVANCE FORMULA. Borrower warrants and agrees that Borrower's the Facility Usage (as defined in the Credit Agreement) shall never exceed the lesser of $5,000,000 or the sum of: (a) eighty percent (80%) of the Domestic Eligible Accounts, as hereinafter defined; and (b) ninety percent (90%) of the Foreign Eligible Accounts, as hereinafter defined.

ADVANCE FORMULA. Debtor warrants and agrees that Debtor's indebtedness to Bank for the Formula Loans shall never exceed the sum of: (a) fifty percent (50%) of the market value (as determined by the Bank from time to time) of Eligible Securities consisting of shares of the common stock of ▇▇▇▇▇▇▇▇ Controls; and (b) the lesser of (i) fifty percent (50%) of the market value (as determined by the Bank from time to time) of Eligible Securities consisting of shares of the common stock of Ajay Sports, Inc. and (ii) Four Hundred Thousand Dollars ($400,000).

ADVANCE FORMULA. Debtors warrant and agree that Debtors' indebtedness to Bank for the Formula Loans shall never exceed the sum, without duplication, of: (a) Eighty five percent (85%) of their Eligible Accounts, as defined below, with respect to which the Account Debtor is an Account Debtor listed on attached Schedule 1 ("OEM Account Debtors"); and (b) Eighty percent (80%) of their Eligible Accounts with respect to which the Account Debtor is not an OEM Account Debtor; and (c) the lesser of fifty percent (50%) of their Eligible Inventory, as defined below, or Nine Million Dollars ($9,000,000); and (d) the Overformula Amount.

ADVANCE FORMULA. Provided there exists no event of default hereunder, Bank shall make advances under the Revolving Line of Credit which shall not exceed in aggregate the face amount of the promissory note representing the Line.

ADVANCE FORMULA. The aggregate principal amount of the Obligations does not exceed the sum of (a) the product of the face amount of the Financed Receivables multiplied by the applicable Advance Rate plus (b) the Overadvance Sublimit.