Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) or (2) seventy-five percent (75%) of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]).
Appears in 2 contracts
Sources: Business Loan Agreement (Rainmaker Systems Inc), Business Loan Agreement (Rainmaker Systems Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 1,500,000.00 or (2) seventy-five percent (75%) 80% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 2 contracts
Sources: Business Loan Agreement (TSS, Inc.), Business Loan Agreement (Asset Based) (TSS, Inc.)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 6,300,000.00; or (2b) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 2 contracts
Sources: Loan Agreement (Pacific Aerospace & Electronics Inc), Loan Agreement (Pacific Aerospace & Electronics Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 2,500,000.00 or (2) seventy-five percent (75%) 57.750% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 2 contracts
Sources: Business Loan Agreement (Asset Based) (Electromed, Inc.), Business Loan Agreement (Asset Based) (Electromed, Inc.)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 300,000.00 or (2) seventy-five percent (75%) 75.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 2 contracts
Sources: Business Loan Agreement (NANOPHASE TECHNOLOGIES Corp), Business Loan Agreement (Nanophase Technologies Corporation)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 1,500,000.00; or (2b) seventy-five percent the sum of (75%i) 75.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan ii) 40.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Equipment.
Appears in 1 contract
Sources: Loan Agreement (Bab Holdings Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender ▇▇▇▇▇▇ from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 10,000,000.00; or (2b) seventy-five percent (75%) a percentage of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Loan Agreement (Ea Engineering Science & Technology Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 5,000,000.00 or (2) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]5,000,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Versant Corp)
Borrowing Base. The words “"Borrowing Base” mean, " mean as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 6,000,000.00 or (2) seventy-five percent (75%) 75.000% of the aggregate amount of Eligible Accounts Receivable related to payments due under all other contracts (not to exceed in corresponding Loan amount based on Commercial Accounts Receivable) and 75.000% of those Eligible Accounts Six Million Dollars [$6,000,000])Receivable related to payments due under contracts with the United States Government for which the Borrower is the primary contractor less the balance outstanding under the term loan #4504027502.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” mean, as determined by Lender from time to time, " mean the lesser of (1a) Six Million Dollars ($6,000,000) 1,500,000.00; or (2b) seventy-five percent the sum of (75%) i)76% of the aggregate amount of Eligible Accounts Accounts, plus (not to ii) 50% of the aggregate amount of Eligible Inventory. At no time shall advances against Eligible Inventory exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])500,000.00.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 1,000,000.00 or (2) seventy-five percent the sum of (75%a) 75.000% of the aggregate amount of Eligible Accounts Accounts, plus (b) 50.000% of the aggregate amount of Eligible Inventory ( not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [Inventory $6,000,000]250,000.00).
Appears in 1 contract
Sources: Change in Terms Agreement (Titan Energy Worldwide, Inc.)
Borrowing Base. The words “"Borrowing Base” mean, " mean as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 15,000,000.00; or (2b) seventy-five percent the sum of (75%i) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (ii) 50.000% of the aggregate amount of eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [Inventory of $6,000,000]5,500,000.00).. The Borrowing Base formula applies only when borrowings exceed $5,000,000.00
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” mean, " mean as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 4,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not b) 50.000% of the aggregate amount of Eligible inventory. At no time will Inventory be allowed to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])comprise more than 50% of the Borrowing Base.
Appears in 1 contract
Sources: Business Loan Agreement (Sielox Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 2,250,000.00 or (2) seventy-five percent the sum of (75%a) 60.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 60.000% of the aggregate amount based on Eligible Accounts Six Million Dollars [$6,000,000])of Eligibly Inventory.
Appears in 1 contract
Sources: Business Loan Agreement (Flotek Industries Inc/Cn/)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 5,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 3,000,000.00 or (2) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Computer Software Innovations Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 5,000,000.00 or (2) seventy-five percent (75%) 75.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 30,000,000.00; or (2b) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Loan Agreement (Labor Ready Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 3,000,000.00; or (2b) seventy-five percent (75%) 75.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 950,000.00; or (2b) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Loan Agreement (Vital Images Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of ([1) Six Million Dollars (] $6,000,000) 5,000,000.00 or (2) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Versant Corp)
Borrowing Base. The words “Borrowing Base” , mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) S3,500,000.00; or (2b) seventy-five percent (75%) 9o.oon% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Revolving Line of Credit Agreement (Daw Technologies Inc /Ut)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 1,000,000.00; or (2b) seventy-five percent the sum of (75%i) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (ii) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [Inventory $6,000,000]300,000).
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 4,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]4,000,000.00), plus (b) 25.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $4,000,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (Addvantage Technologies Group Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 1,250,000.00; or (2b) seventy-five percent (75%) of the aggregate amount % of Eligible Accounts PLUS 50% of Eligible Inventory (not Not to exceed in corresponding Loan amount based $200,000.00) PLUS 75% of Eligible Equipment (Not to exceed the balance on Eligible Accounts Six Million Dollars [$6,000,000]).the Borrower's SBA 7(a) term loan) LESS the current outstanding balance on the Borrower's SBA 7
Appears in 1 contract
Sources: Loan Agreement (Expresspoint Technology Systems Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 3,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 6,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]6,000,000.00), plus (b) 40.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $200,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (American Electric Technologies Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 5,000,000.00 or (2) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (TGC Industries Inc)
Borrowing Base. The words “Borrowing Base” Base mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 1,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory, plus (c) 80.000% of the aggregate amount of Eligible Equipment.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 5,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 15,000,000.00; or (2b) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed and 25% of Eligible Inventory as defined in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Addendum #1.
Appears in 1 contract
Sources: Loan Agreement (Balance Bar Co)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 400,000.00 or (2) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (NYTEX Energy Holdings, Inc.)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 1,250,000.00; or (2b) seventy-five percent the sum of (75%i) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan ii) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])inventory.
Appears in 1 contract
Sources: Loan Agreement (Synergetics Usa Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 1,000,000.00; or (2b) seventy-five percent the sum of (75%i) 90.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan ii) 75.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Sources: Loan Agreement (Web Press Corp)
Borrowing Base. The words “Borrowing Base” mean, mean as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 7,000,000.00 or (2) seventy-five percent (75%) 80.00% of the aggregate amount of Eligible Accounts (not subject to exceed in corresponding Loan amount a 5.00% dilution based on Eligible Accounts Six Million Dollars [$6,000,000])gross collections.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 7,000,000.00; or (2b) seventy-five percent the sum of (75%i) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (ii) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [Inventory $6,000,000]2,400,000).
Appears in 1 contract
Borrowing Base. The words “Words "Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 3,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]3,000,000.00), plus (b) 50,000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $3,000,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (CyDex Pharmaceuticals, Inc.)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 3,500,000.00; or (2b) seventy-five percent the sum of (75%i) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan ii) 25.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 1,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]1,000,000.00), plus (b) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible inventory $1,000,000.00).
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars $1,500,000.00 or(2) the sum of ($6,000,000a) or (2) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 35.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 6,000,000.00; or (2b) seventy-five percent the sum of (75%c) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (ii) 55.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [inventory $6,000,000]5,000,000).
Appears in 1 contract
Sources: Loan Agreement (Phillips R H Inc)
Borrowing Base. The words “"Borrowing Base” mean, as " mean As determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 6,000,000.00 or (( 2) seventy-five percent (75%) 50.000% of the aggregate amount of Eligible Accounts (not Inventory. Notwithstanding the above, availability under the Borrowing Base may be reduced by the amount of unrealized losses related to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])foreign exchange transactions entered into by Borrower.
Appears in 1 contract
Sources: Business Loan Agreement (Tandy Leather Factory Inc)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 2,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 5,000,000.00 or (2) seventy-five percent (75%) 75.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Niku Corp)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 5,000,000.00 or (2) seventy-five percent the sum of (75%a) 85.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]5,000,000.00), plus (b) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $2,500,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (Pinnacle Data Systems Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 750,000.00 or (2) seventy-five percent the sum of (75%a) 75.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” mean, " mean ,as determined by Lender lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 1,000,000.00 or (2) seventy-five percent (75%) 75.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]).Accounts..
Appears in 1 contract
Sources: Business Loan Agreement (Category 5 Technologies Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 1,800,000.00 or (2) seventy-five percent the sum of (75%a) 75.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory, plus (c) 50.000% of the aggregate amount of Eligible Equipment.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Sterion Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 2,500,000.00 or (2) seventy-five percent (75%) 57.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Electromed, Inc.)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 750,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]750,000.00), plus (b) 50.000% of the aggregate amount of Eligible Inventory (not to exceed in corresponding Loan amount based on Eligible Inventory $750,000.00).
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender ▇▇▇▇▇▇ from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 3,000,000.00; or (2b) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Loan Agreement (Industrial Services of America Inc /Fl)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 1,500,000.00 or (2) seventy-five percent (75%) 80% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000]1,500,000.00).
Appears in 1 contract
Sources: Business Loan Agreement (TSS, Inc.)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 6,000,000.00 or (2) seventy-five percent the sum of (75%a) 85.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Ocean Bio Chem Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 1,000,000.00 or (2) seventy-five percent (75%) 70.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Business Loan Agreement (Vista Proppants & Logistics Inc.)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 500,000.00 or (2) seventy-five percent (75%) 75.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Sources: Commercial Guaranty (Torotel Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 6,000,000.00 or (2) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 4,000,000.00 or (2) seventy-five percent the sum of (75%a) 85.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract
Sources: Business Loan Agreement (Asset Based) (Ocean Bio Chem Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 2,000,000.00 or (2) seventy-five percent (75%) 80.000% of the aggregate amount of Eligible Accounts (not to exceed in corresponding Loan amount based on Eligible Accounts Six Million Dollars [$6,000,000])Accounts.
Appears in 1 contract
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1a) Six Million Dollars ($6,000,000) 1,750,000.00; or (2b) seventy-five percent the sum of (75%i) 75.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan ii) 40.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Equipment.
Appears in 1 contract
Sources: Loan Agreement (Bab Holdings Inc)
Borrowing Base. The words “Borrowing Base” mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 750,000.00 or (2) seventy-five percent the sum of (75%a) 75.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory, plus (c) 50.000% of the aggregate amount of Eligible Equipment.
Appears in 1 contract
Sources: Business Loan Agreement (Sten Corp)
Borrowing Base. The words “"Borrowing Base” " mean, as determined by Lender from time to time, the lesser of (1) Six Million Dollars ($6,000,000) 6,000,000.00 or (2) seventy-five percent the sum of (75%a) 80.000% of the aggregate amount of Eligible Accounts Accounts, plus (not to exceed in corresponding Loan b) 50.000% of the aggregate amount based on of Eligible Accounts Six Million Dollars [$6,000,000])Inventory.
Appears in 1 contract