Borrowing Base Calculation. (a) Eligible Accounts (i) 85% of Eligible Accounts2 $ (ii) the amount, if any, of the Dilution Reserve $ (iii) Item 1.a.. minus Item 1.b. $ (b) Eligible Expendables (i)$10,000,000 $ (ii)50% of the value (calculated at cost minus accumulated depreciation that is calculated in accordance with GAAP) of Eligible Expendables3 $
Appears in 2 contracts
Sources: Credit Agreement (Alaska Air Group Inc), Credit Agreement (Alaska Air Group Inc)