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.
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ADVANCE FORMULA. Debtor Borrower warrants and agrees that Debtor's Borrower’s indebtedness to Bank for the Formula Loans shall never exceed the sum of:
(a) the Applicable Percentage eighty percent (80%) of its Borrower’s Eligible Accounts, as hereinafter defined; plusand
(b) thirty the lesser of forty percent (3040%) of its Borrower’s Eligible Inventory, as hereinafter defined, or Three Million and No/100 Dollars ($3,000,000.00).
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ADVANCE FORMULA. Debtor warrants Debtors warrant and agrees agree that Debtor's Debtors' indebtedness to Bank for the Formula Loans shall never exceed the sum of:
(a) the Applicable Percentage Eighty percent (80%) of its their Eligible Accounts, as hereinafter defineddefined below; plusand
(b) thirty the lesser of fifty percent (3050%) of its their Eligible Inventory, as hereinafter defineddefined below, or Nine Million Dollars ($9,000,000).
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Sources: Advance Formula Agreement (Jpe Inc)