Borrowing Base

Borrowing Base. Is eighty percent (80%) of Eligible Accounts as determined by Bank from Borrower's most recent Borrowing Base Certificate; provided, however, that Bank may lower the percentage of the Borrowing Base after performing an audit of Borrower's Collateral.

Borrowing Base. Means at any time an amount equal to the amount determined in accordance with Section 2.07, as the same may be adjusted from time to time pursuant to Section 9.11. As of the Third Amendment Effective Date, the Borrowing Base shall be $1,600,000,000.

Borrowing Base. At the relevant time of reference thereto, an amount, determined by Agent by reference to the most recent Borrowing Base Report delivered to Banks and Agent pursuant to Section 7.4(h), equal to 100% of the total amount of Eligible Accounts Receivable, plus: during the month of August, 2002, $8,700,000; provided, that, in no event shall such amount exceed $45,484,000.

Borrowing Base. Means at any time the lesser of: (a) the Maximum Line; or (b) the sum of following: 1 (i) The product of the Accounts Advance Rate times Eligible Accounts; provided that Advances against Eligible Accounts owing by Account Debtors described in clause (xiv) of the definition of "Eligible Accounts" (other than Eligible Foreign Accounts) shall not exceed $24,000,000, plus (ii) During the Foreign Accounts Eligibility Period, the lesser of (A) the product of the Accounts Advance Rate... times Eligible Foreign Accounts or (B) $2,000,000, plus (iii) the lesser of (A) 35% of Eligible Inventory, (B) 75% of the Net Orderly Liquidation Value of Eligible Inventory, or (C) $2,000,000, less (iv) The Borrowing Base Reserve, less (v) The aggregate principal balance of all outstanding Equipment Advances, less (vi) Indebtedness that the Borrower owes to the Lender that has not yet been advanced on the Revolving Note, and the dollar amount that the Lender in its reasonable discretion then determines to be a reasonable determination of the Borrower's credit exposure with respect to any swap, derivative, foreign exchange, hedge, deposit, treasury management or other similar transaction or arrangement offered to Borrower by Lender that is not described in Article II of this Agreement and any indebtedness owed by Borrower to Wells Fargo Merchant Services, L.L.C. View More

Borrowing Base. Means at any time the lesser of: (a) The Maximum Line Amount; or (b) Subject to change from time to time in the Lender's sole discretion, the sum of: (i) The lesser of (A) the sum of (1) the product of the Accounts Advance Rate times Eligible Accounts of each of MIS, HK, 3D, Martell, Ideal and AMP, plus (2) the lesser of (w) the product of the Accounts Advance Rate times the Eligible AMP-Canada Accounts, or (x) $500,000, plus (3) the lesser of (y) the product... of the Special Accounts Advance Rate times Eligible Progress Accounts of each of Martell and Ideal, or (z) $1,450,000; or (B) $5,800,000, less (ii) The Borrowing Base Reserve, less (iii) The Personal Property Tax Reserve, less (iv) The Real Estate Tax Reserve, less (v) The Landlord Reserve, less (vi) Indebtedness that any Borrower owes to the Lender that has not yet been advanced on the Revolving Note, including, without limitation, the L/C Amount, and the dollar amount that the Lender in its reasonable discretion then determines to be a reasonable determination of each Borrower's credit exposure with respect to any swap, derivative, foreign exchange, hedge, deposit, treasury management or other similar transaction or arrangement offered to any Borrower by Lender that is not described in Article II of this Agreement. View More

Borrowing Base. Means, as at any date, the amount of the Borrowing --------------- Base as established by the Lenders from time to time in their sole discretion and until further notice by Lenders to Borrower, for the period from the Amendment Effective Date through the Borrowing Base Reduction Date, the Borrowing Base is hereby established to be $1,750,000.00 and for the period after Borrowing Base Reduction Date through the Maturity Date, the ... Borrowing Base is hereby established to be $1,000,000.00. View More

Borrowing Base. Means at any time the lesser of: (a) The Maximum Line Amount; or (b) Subject to change from time to time in the Lender's commercially reasonable discretion, the sum of: (i) The lesser of (A) the product of the Accounts Advance Rate times Eligible Accounts (provided that Accounts owned by Aleier, Inc. that are created after August 31, 2008 will not be considered Eligible Accounts) or (B) $11,000,000, plus SECOND AMENDMENT TO CREDIT AND SECURITY AGREEMENT – Page 1 (ii) The... lesser of (A) (1) the product of the Borrower Finished Goods Advance Rate times Borrower's finished goods Eligible Inventory, plus (2) the product of the Cirronet Finished Goods Advance Rate times Cirronet's finished goods Eligible Inventory, plus (3) the product of the Borrower Raw Materials Advance Rate times Borrower's raw materials Eligible Inventory, plus (4) the product of the Cirronet Raw Materials Advance Rate times Cirronet's raw materials Eligible Inventory; (provided that Inventory owned by Aleier, Inc. will not be considered Eligible Inventory after August 31, 2008), or (B) $3,000,000, less (iii) Indebtedness that the Borrower owes to the Lender that has not yet been advanced on the Revolving Note, including, without limitation, the L/C Amount, and the dollar amount that the Lender in its reasonable discretion then determines to be a reasonable determination of the Borrower's credit exposure with respect to any swap, derivative, foreign exchange, hedge, deposit, treasury management or other similar transaction or arrangement offered to Borrower by Lender that is not described in Article II of this Agreement and any indebtedness owed by Borrower to Wells Fargo Merchant Services, L.L.C, less (iv) a Borrowing Base reserve in the amount of (A) $100,000 for the month ending June 30, 2008, (B) $200,000 for the month ending July 31, 2008, (C) $300,000 for the month ending August 31, 2008, (D) $400,000 for the month ending September 30, 2008 and (E) $500,000 for the month ending October 31, 2008 and all periods thereafter. View More

Borrowing Base. ‘Borrowing Base' means, at any time, an amount equal to the sum of (a) the Accounts Advance Amount, plus (b) the Inventory Advance Amount, minus (c) Reserves from time to time established by the Lender in its reasonable credit judgment, where: ‘Accounts Advance Amount' means, at any time, an amount equal to eighty percent (80%) of the Net Amount of Eligible Accounts; provided, however, that the aggregate Revolving Loans advanced against Approved Foreign Accounts shall not exceed $2,000,000;... and ‘Inventory Advance Amount' means, at any time, an amount equal to the lesser of (i) $7,000,000 reducing to $3,000,000 on December 31, 2008, or (ii) the lesser of (x) sixty percent (60%) of the Net Value of Eligible Inventory owned by the Borrowers reducing to fifty percent (50%) of the Net Value of Eligible Inventory owned by the Borrowers on December 31,2008, or (y) eighty-five percent (85%) of the Net Orderly Liquidation Value of Eligible Inventory owned by the Borrowers reducing to seventy-five percent (75%) of the Net Orderly Liquidation Value of Eligible Inventory owned by the Borrowers on December 31, 2008. View More

Borrowing Base. Means, at any time, the lesser of: (a) $6,750,000.00; or (b) commencing sixty days after start-up of operations, the sum of: (i) 75% of Borrower's Eligible Accounts Receivable; plus (ii) 75% of Borrower's Eligible Inventory.

Borrowing Base. Is as set forth in the Schedule.