Base Accounts without prejudice to the generality of paragraph 10.1.5 above:-
Base Accounts. Accounts Receivable of the Company as to which the Bank has a perfected first security interest.
Base Accounts. Accounts receivable of the Borrower as to which the ------------- Borrower has furnished to the Bank information as provided by (S)7.4(d). If and when a Base Account exists by virtue of constituting proceeds of Base Inventory, the inventory giving rise to the Base Account automatically loses its status as Base Inventory.
Base Accounts. Accounts of the Borrowers arising from commissions due on purchase and sale agreements for residential real property as to which the Bank has a perfected first priority security interest and the Borrowers have furnished to the Bank information as required by Section 5.1(j).
Base Accounts. The aggregate of the unpaid portions of Accounts Receivable (net of any credits, customer deposits, rebates, offsets, holdbacks or other adjustments or commissions payable to third parties that are adjustments to such Accounts Receivable) (a) that the Borrower reasonably and in good faith determines to be collectible; (b) that are owed by account debtors or other obligors that (i) are not Affiliates of the Borrower, (ii) purchased the goods or services giving rise to the relevant Account Receivable in an arm's length transaction, (iii) are not insolvent or involved in any case or proceeding, whether voluntary or involuntary, under any bankruptcy, reorganization, arrangement, insolvency, adjustment of debt, dissolution, liquidation or similar law of any jurisdiction; and (iv) are not creditors of the Borrower or any Affiliate of the Borrower (which term "creditors" includes without limitation any suppliers to which the Borrower or any Affiliate of the Borrower has an outstanding invoice or is otherwise indebted), provided that the amount owed by a supplier in excess of the amount owed by the Borrower (or Affiliate) to such supplier shall not be excluded from Base Accounts pursuant to this clause (b)(iv); (c) that are in payment of obligations that have been fully performed, do not consist of progress billxxxx xx bill xxx hold invoices or other deferred revenues and are not subject to dispute or any other similar claims that would reduce the cash amount payable therefor; (d) that are not subject to any pledge, restriction, security interest or other lien or encumbrance other than those created by the Loan Documents; (e) in which the Bank has a valid and perfected first priority security interest; (f) that are not outstanding for more than ninety (90) days past the earlier to occur of (i) the date of the respective invoices therefor and (ii) the date of shipment thereof in the case of goods or the end of the calendar month following the provision thereof in the case of services, and are not outstanding for more than sixty (60) days past their due date; (g) that are not owed by the United States government or any agency thereof unless the Borrower has complied with the Federal Assignment of Claims Act; (h) that are not due from any single account debtor or other obligor if more than fifty percent (50%) of the aggregate amount of all Accounts Receivable owing from such account debtor or other obligor would be excluded as Base Accounts pursuant to clause (f) of ...
