Foreign Borrowing Base

Foreign Borrowing Base. Means the lesser of (a) Eight Million Dollars ($8,000,000) or (b) ninety percent (90%) of EX-IM Eligible Foreign Accounts as determined by Bank from Borrower's most recent Transaction Report; provided, however, Accounts that are billed in currencies other than in U.S. Dollars shall be permitted ("Non-US Dollar Accounts") as EX-IM Eligible Foreign Accounts provided the foreign exchange risk is hedged, in all other cases Non-US Dollar Accounts shall be subject to a seventy percent (70%)... calculation; provided further, however, that Bank may decrease the foregoing percentages in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, in connection with the results of an audit in accordance with this EX-IM Agreement, may adversely affect Collateral. View More

Foreign Borrowing Base. Means (a) (i) the lesser of Five Million Dollars ($5,000,000) or (ii) ninety percent (90%) of EX-IM Eligible Foreign Accounts as determined by Bank from Borrower's most recent Transaction Report and EX-IM Borrowing Base Certificate; provided, however, Accounts that are billed in currencies other than in U.S. Dollars shall be permitted ("Non-US Dollar Accounts") as EX-IM Eligible Foreign Accounts provided the foreign exchange risk is hedged, in all other cases Non-US Dollar Accounts shall be... subject to a seventy percent (70%) calculation plus (b) the lesser of (i) Two Million Five Hundred Thousand Dollars ($2,500,000) or (ii) seventy five percent (75%) of the value of Borrower's EX-IM Eligible Foreign Inventory (valued at the lower of cost or wholesale fair market value); provided further, however, that Bank may decrease the foregoing percentages in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect Collateral and provided, further that the amount in subsection (b) above (EX-IM Eligible Foreign Inventory) may not exceed fifty percent (50%) of the Foreign Borrowing Base at any time. View More

Foreign Borrowing Base. Means the lesser of: (a) Two Million Five Hundred Thousand Dollars ($2,500,000); or (b) (i) ninety percent (90%) of EX-IM Eligible Foreign Accounts as determined by Bank from Borrower's most recent Transaction Report and the EX-IM Borrowing Base Certificate; plus (ii) 50% of EX-IM Eligible Inventory, provided that EX-IM Advances based on EX-IM Eligible Inventory shall not, in any event, exceed the lesser of $1,500,000 or 50% of the aggregate amount of EX-IM Advances outstanding hereunder at... any time or from time to time; provided, further, Bank may decrease the foregoing percentages with respect to clauses (i) and (ii) above in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect Collateral. View More

Foreign Borrowing Base. Means the lesser of (a) One Million Seven Hundred Fifty Thousand Dollars ($1,750,000) or (b) (i) eighty percent (80%) of EX-IM Eligible Foreign Accounts that are payable in U.S. Dollars or are properly hedged (in the discretion of Bank) against foreign currency risk PLUS (ii) seventy percent (70%) of EX-IM Eligible Foreign Accounts that do not meet the requirements of (b)(i) but are major foreign currencies denominated, as determined by Bank from Borrower's most recent Transaction Report;... provided, however, that Bank may decrease the foregoing percentage in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect Collateral. View More

Foreign Borrowing Base. Means the sum of (i) ninety percent (90%) of EX-IM Eligible Foreign Accounts denominated in United States Dollars or hedged Foreign Currencies plus (ii) seventy percent (70%) of EX-IM Eligible Foreign Accounts that are not denominated in United States Dollars or hedged Foreign Currencies plus (iii) the lesser of (A) $500,000 or (B) 65% of Eligible Export Inventory (provided the Export Inventory outstanding shall at no time exceed 60% of the combined outstanding of Export Foreign Accounts and... Export Inventory), as determined in all cases by Bank from Borrower's most recent Transaction Report; provided, however, that Bank may decrease the foregoing percentage in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect Collateral. View More