IN ADDITION TO. THE BORROWING LIMITATIONS CONTAINED IN THE DEFINITION OF THE BORROWING BASE AND IN THIS AGREEMENT, THE MAXIMUM AMOUNT OF LOANS HEREUNDER SHALL BE SUBJECT TO EACH OF THE FOLLOWING: (A) Prior to the earlier of: (i) the occurrence of a Capital Event, or (ii) March 15, 2001, the outstanding Obligations (including, without limitation, those arising under this Agreement, the Exim Agreement and the Factoring Agreement) shall not exceed at any time $4,000,000.00. (B) The outstanding Obligations (including, without limitation, those arising under this Agreement, the Exim Agreement and the Factoring Agreement) shall not exceed at any time the result of the following: (i) the Borrowing Base under this Agreement, PLUS (ii) the lesser of: (a) the EXIM Committed Line as defined in the Exim Agreement, or (b) the Borrowing Base under the Exim Agreement, MINUS (iii) $6,000,000.00. (C) [Intentionally Deleted] LETTER OF CREDIT/FOREIGN EXCHANGE CONTRACT SUBLIMIT (Section 1.5): $500,000
Appears in 2 contracts
Sources: Loan and Security Agreement (Open Market Inc), Loan and Security Agreement (Open Market Inc)