Common use of Borrowing Base and Compliance Clause in Contracts

Borrowing Base and Compliance. Pursuant to the Security Documents, Agent, on behalf of Lenders, has been granted a lien on all Accounts of Borrowers. Set forth on Schedule 1 is a true and correct calculation of Availability calculated in accordance with the Loan Agreement. All of the Accounts included as Eligible A/R on Schedule 1 are Eligible Receivables.