Eligible Account Receivable definition

Eligible Account Receivable means an Account Receivable owing to the Company or any Domestic Subsidiary which meets the following requirements:

Eligible Account Receivable as of any Borrowing Base Date, an Account Receivable as to which the following requirements have been fulfilled:

Eligible Account Receivable. An Account Receivable owing to the Borrower which meets the following requirements:

Examples of Eligible Account Receivable in a sentence

• Each Account reflected in the computations included in any Borrowing Base Certificate meets the criteria of the definition of Eligible Account Receivable or Eligible Unbilled Accounts Receivable, except as disclosed in such Borrowing Base Certificate or as disclosed in a timely manner in a subsequent Borrowing Base Certificate or otherwise in writing to Administrative Agent.

• Borrower has no knowledge of any fact or circumstance not disclosed to Administrative Agent in a Borrowing Base Certificate or otherwise in writing which would impair the validity or collectibility of any Eligible Account Receivable of $50,000 or more or of Eligible Accounts Receivable which (regardless of the individual amount thereof) aggregate $250,000 or more.

• If (i) any material discount, credit or agreement to make a rebate or to otherwise reduce the amount owing on a material amount of Eligible Accounts Receivable or (ii) to the knowledge of such Grantor, any material dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened with respect to any such Eligible Account Receivable, such Grantor will timely disclose such fact to the Administrative Agent.

• If (i) any discount, credit or agreement to make a rebate or to otherwise reduce the amount owing on an otherwise Eligible Account Receivable owned by such Grantor exists or (ii) if, to the knowledge of such Grantor, any dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened with respect to an otherwise Eligible Account Receivable, such Grantor will disclose such fact to the Collateral Agent in writing in connection with the next Borrowing Base Report.

• Three (3) copies of each invoice must be rendered with prices and extensions.

More Definitions of Eligible Account Receivable

Eligible Account Receivable means an Account of a Company to the extent arising out of completed sales or services performed by such Company in accordance with the terms and conditions of all purchase orders, contracts and other documents relating thereto, which, at all times until it is collected in full, continuously meets the following requirements: (a) is not subject to any claim for credit, allowance, or adjustment by the Account Debtor or any set off or counter claim; provided, however, that such Account shall only be excluded to the extent of such claim for credit, allowance or adjustment or such setoff or counterclaim; (b) arose in the ordinary course of such Company's business from the performance (fully completed) of services or bona fide sale of goods which have been shipped to the Account Debtor, and not more than ninety (90) days have elapsed since the performance (fully completed) of services or the sale of goods for or to the Account Debtor; (c) is not due from any Account Debtor with respect to which such Company has received any notice or has any knowledge of insolvency, bankruptcy or financial impairment; (d) is not subject to an assignment, pledge, claim, mortgage, lien, or security interest of any type except that granted to or in favor of Lender; (e) does not relate to any goods rejected or returned, or acceptance of which has been revoked or refused; (f) is not the subject of any instrument or chattel paper offered in payment thereof; (g) has not been determined by Lender, in its reasonable discretion, to be unsatisfactory in any respect; (h) is not a Government Account Receivable, unless Lender's security interest in such Government Account Receivable is filed in accordance with the Federal Assignment of Claims Act; (i) is not an account receivable due from any affiliate, shareholder or employee of such Company; (j) is not a Foreign Account Receivable; (k) is not evidenced by a promissory note or any other negotiable instrument; (l) is not an account receivable owed to such Company by an Account Debtor which has failed to pay more than twenty-five percent (25%) of its currently outstanding accounts receivable within ninety (90) days of service or sale of goods; and (m) Lender has a valid and enforceable first security interest in the Account subject to Permitted Liens.

Eligible Account Receivable means all Accounts Receivable of the Borrower and the Guarantors which are subject to a first and prior Lien in favor of the Agent on behalf of the Banks pursuant to the Collateral Documents (reduced by the amount of any refund, rebate, allowance, discount or other concession to the account debtor in connection therewith) except for the following:

Eligible Account Receivable means an Account that is an account receivable (i.e., each specific invoice) of a Borrowing Base Company that, at all times until it is collected in full, continuously meets the following requirements:

Eligible Account Receivable in this Section 1.1.

Eligible Account Receivable means an Account that is an account receivable (i.e., each specific invoice) of a Borrower that, at all times until it is collected in full, continuously meets the following requirements:

Eligible Account Receivable means an Account Receivable owing to a Borrower that meets each of the following requirements:

Eligible Account Receivable means an Account Receivable which is NOT a Disqualified Account Receivable.