Borrowing Base

Borrowing Base. Means, as of any day, the sum of (a) 80% of Eligible Receivables plus (b) the lesser of (i) 75% of Fixed Asset Value and (ii) $26,000,000 minus (c) all indebtedness for borrowed money, howsoever evidenced, or its equivalent (including but not limited to leases required to be capitalized under Generally Accepted Accounting Principles and letters of credit), other than Revolving Loans outstanding hereunder, incurred by, or issued for the... benefit of, the Credit Parties (converted, if necessary, to U.S. dollars at the Bank's then applicable exchange rate); provided that (A) in the case of clauses (a) and (b)(i) above, such amounts shall be as set forth in the most recent Borrowing Base Certificate delivered to the Bank in accordance with the terms of Section 6.01(b)(3) and (B) the advance rates set forth above shall be subject to appraisals conducted from time to time by the Bank and may be increased or decreased by the Bank at any time and from time to time in the exercise of its reasonable credit judgment (it being understood that the U.S. Borrower hereby consents to any such increases or decreases and acknowledges that decreasing the advance rates or increasing the reserves may limit or restrict the availability of Revolving Loans requested by the U.S. Borrower); View More

Borrowing Base. With respect to the Collateral other than Cash Collateral 48% (or, in the case of any Appraisal Report delivered after May 15, 2006 and before September 30, 2006, 52.5%) of the Current Market Value of the CAL Collateral and the CMI Business, as reflected in the Appraisal Report(s) with respect thereto then most recently delivered to the Administrative Agent; and

Borrowing Base. Means at any time and subject to change from time to time in the Lender's sole discretion, the lesser of: (a) the Maximum Line; or (b) during the period April 1 through August 31 of each year, the sum of: (i) the lesser of (A) 40% of Eligible Used Inventory or (B) $1,750,000, plus (ii) the lesser of (A) 40% of Eligible New Inventory or (B) $1,500,000. (c) during the period September 1 through March 31 of each year, the sum of: ... (i) the lesser of (A) 50% of Eligible Used Inventory or (B) $1,750,000, plus (iii) the lesser of (A) 50% of Eligible New Inventory or (B) $1,500,000. View More

Borrowing Base. Will be in an amount, determined by CNB, equal to: 1.6.1 The sum of: (a) Sixty percent (60%) of the Eligible Accounts (the "Accounts Borrowing Base"), plus (b) Thirty-five percent (35 %) of the Eligible Inventory (the "Inventory Borrowing Base"); 1.6.2 Less the outstanding principal balance on the Existing Term... Loan referenced in Section 2.5; and 1.6.3 Less the sum of $600,000.00. In no event will (a) the Inventory Borrowing Base exceed $4,500,000.00, or (b) the Borrowing Base exceed the Revolving Credit Commitment. View More

Borrowing Base. As to any Eligible Contract as at the date of any determination thereof, but subject to paragraphs (a) through (f) of this definition below, the lesser of (i)(x) 88.5% of the then Net Present Value of such Eligible Contract (other than Exception Contracts) and (y) 87.0% of the then Net Present Value of Exception Contracts or (ii) 100% of the Net Investment pertaining to the Eligible Equipment subject to such Eligible Contract, less, all... security deposits and advance lease payments and other sums received by the Borrower relating to any Eligible Contract (solely as they relate to assets included in the Borrowing Base). Notwithstanding the foregoing: (a) the aggregate amount includible in the Borrowing Base of Net Present Value of Eligible Contracts with any one User (including Affiliates of such User) shall not exceed $200,000; (b) the aggregate amount includible in the Borrowing Base of Net Present Value of Eligible Contracts which have initial lease terms in excess of 60 months from the commencement date of such Contracts shall not exceed 10% of the aggregate Commitment for all Lenders; (c) except for the Exception Contracts and Contracts evidenced by Financing Agreements, no Contract may be included in the Borrowing Base for a period of in excess of 360 days; (d) the aggregate amount includible in the Borrowing Base of Net Present Value of Eligible Contracts which constitute Prepayable Contracts shall not exceed $1,000,000; (e) the aggregate amount includible in the Borrowing Base of Net Present Value of Eligible Contracts which constitute Recourse Contracts shall not exceed $1,000,000; (f) the aggregate amount includible in the Borrowing Base of Net Present Value of Eligible Contracts which constitute Sub-lease Contracts shall not exceed $2,000,000; and (g) the aggregate amount includible in the Borrowing Base of Net Present Value of Eligible Contracts which constitute Business Capital Loan Agreements shall not exceed $15,000,000. View More

Borrowing Base. The Borrowing Base shall be equal to the aggregate Total Cost of all Inventory Assets. The Borrowing Base shall be reduced by any month-to-month interest accrued on the Note or Unused Line Fee accrued on the Note.

Borrowing Base. The term "Borrowing Base" means, for any Determination Date, an amount equal to * times the * Transaction Fees.

Borrowing Base. Means, as of any date of determination by Lender, an amount equal to the lesser of (a) the Commitment or (b) the amount that results in a Cash on Cash Return of twelve and one-half percent (12.5%).

Borrowing Base. Means at any time the lesser of: (a) the Maximum Line; or (b) subject to change from time to time in the Lender's sole discretion, the sum of: (i) 85% of Eligible Accounts, (other than Eligible Accounts included in the Dating Program), plus (ii) 80% of that portion of Eligible Accounts included in the Dating Program that does not exceed $1,500,000, plus (iii) the lesser of (A) 60% of Eligible Inventory or (B) $8,000,000, minus (iv) The Wells Fargo Bank Obligations Reserve.

Borrowing Base. Shall mean the sum of: (1) Eighty percent (80.00%) of the net amount of Eligible Accounts after deducting therefrom all payments, adjustments and credits applicable thereto ("Accounts Receivable Borrowing Base"); and (2) the amount, if any, of the advances against Inventory agreed to be made pursuant to any Inventory Rider ("Inventory Borrowing Base"), or other rider, amendment or modification to this Agreement, that may now or hereafter be entered Into by Bank and... Borrower. View More