Eligible Fixed Assets. 11 1.10. Cash Management Systems.......................................................................12 1.11. Fees..........................................................................................12 1.12.
Eligible Fixed Assets. Based on the most recent Borrowing Base Certificate delivered by Borrower to Agent and on other information available to Agent, Agent shall in its reasonable credit judgment determine which Designated Mortgaged Properties of Borrower shall be "Eligible Fixed Assets", except that no Designated Mortgaged Property to which any of the exclusionary criteria set forth below applies shall be Eligible Fixed Assets. Agent shall have the right to establish, modify, or eliminate Reserves against Eligible Fixed Assets from time to time in its reasonable credit judgment. Agent reserves the right, at any time and from time to time after the Closing Date, to adjust any such criteria, to establish new criteria and to adjust advance rates with respect to Eligible Fixed Assets in its reasonable credit judgment, subject to the approval of Supermajority Revolving Lenders in the case of adjustments or new criteria or changes in advance rates which have the effect of making more credit available. Eligible Fixed Assets shall not include any assets of Borrower that:
Eligible Fixed Assets. The appraised liquidation in-place value of the Canton Cast-Roll Facility and the related Real Estate located in Canton, Ohio based on the Updated Appraisal, or any later such liquidation in-place appraisal obtained by the Administrative Agent pursuant to Section 8.4(n) in which the Administrative Agent, for the benefit of the Lenders, has a first priority perfected security interest, as determined by the Administrative Agent at the Borrower's expense, PROVIDED FURTHER that in no event shall the amount of the Borrowing Base allocable to Eligible Fixed Assets exceed the Eligible Fixed Asset Cap.
Eligible Fixed Assets. Based on the most recent Borrowing Base Certificate delivered to the Agent and on appraisals and other information available to the Agent, the Agent shall in its reasonable credit judgment determine which Fixed Assets of Borrowers shall be "ELIGIBLE FIXED ASSETS" for purposes of this Agreement. "
Eligible Fixed Assets. The Headquarters Facility to the extent that it is (a) owned by the Borrowers, (b) subject to a Mortgage, (c) properly insured in accordance with the provisions of ss.8.7 and (d) not encumbered by a lien or encumbrance other than Permitted Liens.
Eligible Fixed Assets. The net book value of any and all fixed assets (including real property) of Borrower and each Guarantor located in the United States of America, as reported to the Bank, from time to time, in accordance with Section 6.9(a)(iii) hereof.
Eligible Fixed Assets. As to each item of Fixed Asset that is identified by Borrowers as Eligible Fixed Assets in the most recent Borrowing Base Certificate submitted to Agent, such Fixed Asset is (a) of good and merchantable quality, free from known defects, (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than Agent-discretionary criteria) set forth in the definition of Eligible Fixed Assets, and (c) accurately described in such Borrowing Base Certificate including model, model year, vehicle identification number, and book value and whether the subject of a certificate of title.
Eligible Fixed Assets. Equipment owned by an Obligor, subject to the Lien in favor of Agent and to no other Lien, that is located within the continental United States and has been included in the most recent Net Orderly Liquidation Value Appraisal accepted by Agent. Eligible Real Estate — each parcel of Real Estate which Agent, in its reasonable credit judgment, determines to be Eligible Real Estate. Without limiting the discretion of Agent to establish other criteria of eligibility, Eligible Real Estate (i) shall be owned by an Obligor, (ii) shall be subject to the Lien in favor of Agent and to no other Lien (other than those Liens or encumbrances, if any, which are expressly permitted in the Mortgages applicable to such Real Estate), (iii) shall be located within the continental United States, (iv) shall be in compliance with all of the representations, warranties, covenants and agreements set forth in the Mortgage(s) applicable thereto and in Sections 7.3.1, 9.1.30 and 10.1.17 hereof, and (v) shall have been included in a fair market value appraisal of the Real Estate, and shall be covered by an environmental report, in each case which have been accepted by and are satisfactory to Agent. Eligible Unbilled Accounts — an amount which, when an invoice is issued with respect thereto, will be an Eligible Account, and in respect of which an invoice is issued within 30 days (or 45 days with respect to an Account Debtor principally engaged in the power distribution and transmission business or communications business) after such amount is first included as an eligible unbilled account on any Borrowing Base Certificate. Eligible Unbilled Accounts Formula Amount — on any date of determination thereof, an amount equal to the lesser of (i) 70% (or such lesser percentage as Agent may in its reasonable credit judgment determine from time to time) of the aggregate amount of Eligible Unbilled Accounts on such date, or (ii) an amount equal to the product of (x) the sum of the Accounts Formula Amount on such date, the amount derived pursuant to subsection (i) of this definition, the Fixed Assets Formula Amount, and the Real Estate Formula Amount multiplied by (y) 15%. Enforcement Action — action taken or to be taken by Agent, during any period that an Event of Default exists, to enforce collection of the Obligations or to realize upon the Collateral (whether by judicial action, under power of sale, by self-help repossession, by notification to Account Debtors, or by exercise of rights of setof...
Eligible Fixed Assets. As to each item that is identified by Borrowers as Eligible Fixed Assets in any certificate or report submitted to Agent to satisfy any condition set forth in Section 3.1 or in any Borrowing Base Certificate submitted to Agent, such item is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible Fixed Assets.
Eligible Fixed Assets. As to each item of fixed assets that is identified by Holdings as Eligible Fixed Assets in a Borrowing Base Certificate submitted to Administrative Agent, such fixed assets are (a) of good and saleable quality, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria set forth in the definition of Eligible Fixed Assets.”
