Cross Aged Accounts Clause Samples
The Cross Aged Accounts clause allows a creditor to treat all outstanding accounts with a debtor as immediately due and payable if any single account becomes overdue. In practice, this means that if a customer has multiple accounts or invoices with a supplier and fails to pay one on time, the supplier can demand payment of all other outstanding balances, regardless of their individual due dates. This clause is designed to protect the creditor by providing leverage to recover debts more efficiently and to discourage partial or selective payment delays by the debtor.
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Cross Aged Accounts. Accounts that are the obligations of an Account Debtor if fifty percent (50%) or more of the Dollar amount of all Accounts owing by that Account Debtor are ineligible under the other criteria set forth in this Section 1.13;
Cross Aged Accounts. Accounts that are the obligations of an Account Debtor if fifty percent (50%) or more of the Dollar amount of all Accounts owing by that Account Debtor are ineligible for inclusion in the U.S. Borrowing Base (if such Borrower is a U.S. Borrower) or the Canadian Borrowing Base (if such Borrower is the Canadian Borrower) under the other criteria set forth in this Section 1.13;
Cross Aged Accounts. (A) Accounts of any Account Debtor of the type described in (b)(i)(A) above, if fifty percent (50%) or more of the outstanding balance of such Accounts are unpaid for more than ninety (90) days from the date of invoice and (B) Accounts of any Account Debtor of the type described in (b)(i)(B) above, if fifty percent (50%) or more of the aggregate outstanding balance of such Accounts are unpaid for more than one hundred twenty (120) days from the date of invoice;
Cross Aged Accounts. Accounts that are the obligations of an Account Debtor if *** or more of the Dollar amount of all Accounts owing by such Account Debtor are ineligible under the other criteria set forth in this Section 2.8;
Cross Aged Accounts such Account is the obligation of an Account debtor if fifty percent (50%) or more of the Dollar amount of all Accounts owing by that Account debtor are ineligible under the other criteria set forth in this definition;
Cross Aged Accounts. (i) Billed Accounts that are the obligations of an Account Debtor (x) if such Billed Accounts are Commercial Accounts, thirty-five percent (35%) or more, or (y) if such Billed Accounts are Government Accounts, fifty percent (50%) or more, of the Dollar amount of all Billed Accounts owing by that Account Debtor are ineligible under clause (a) of this Section 1.12; and (ii) Unbilled Accounts that are the obligations of an Account Debtor whose Billed Accounts are ineligible under clause (b)(i) of this Section 1.12;
Cross Aged Accounts. (i) Accounts that are the obligations of an Account Debtor (other than PepsiCo, Inc. and its Affiliates) if fifty percent (50%) or more of the Dollar Equivalent of all Accounts owing by that Account Debtor are ineligible under the other criteria set forth in this Section 1.12 (other than clause (h));
(ii) Accounts that are the obligations of PepsiCo, Inc. and its Affiliates if fifty percent (50%) or more of the Dollar Equivalent of all Accounts owing by PepsiCo, Inc. and its Affiliates are ineligible under clause (a) of this Section 1.12;