Eligible Notes Receivable. Those Pledged Notes Receivable which satisfy each of the following criteria:
Eligible Notes Receivable. As to each Note Receivable that is identified as an Eligible Note Receivable in a Borrowing Base Certificate submitted by or on behalf of Borrower to Agent: (a)(i) such Note Receivable is a bona fide existing payment obligation of the maker of such Note Receivable created in the ordinary course of Borrower’s business, (ii) such Note Receivable is owed to Borrower without any known defenses, disputes, offsets, counterclaims, or rights of cancellation, and (iii) such Note Receivable is not excluded as ineligible by virtue of one or more of the excluding criteria set forth in the definition of Eligible Notes Receivable; (b) such Note Receivable has been documented on the Approved Forms in accordance with the Required Procedures and all Applicable Laws; (c) the original amount of, the unpaid balance of, and the amount and dates of payments on such Note Receivable shown on the Books of Borrower and in the schedules of same delivered to Agent are true and correct; (d) neither Servicer nor Borrower has received notice of (i) actual bankruptcy, insolvency, or material impairment of the financial condition of any Account Debtor obligated on any Eligible Notes Receivable, (ii) any actual litigation regarding the validity or enforceability of any Eligible Notes Receivable or (iii) any lien on other collateral securing any Eligible Notes Receivable; (e) neither Servicer nor Borrower has knowledge of any other fact that is reasonably likely to impair the validity or collectibility of such Note Receivable; (f) since delivery of such report to Agent, such Note Receivable has not been amended nor any requirements relating thereto waived without the prior written consent of Agent, other than an extension or modification in accordance with the Required Procedures then in effect; (g) financing statements naming the applicable Account Debtor as debtor have been duly filed in all applicable jurisdictions and for those Notes Receivable secured by Equipment that consists of motorized vehicles in whole or in part, a certificate of title for such Equipment naming Borrower or the nominee designated in the Vehicle Lienholder Nominee Agreement as first lienholder has been delivered to Custodian or Agent, except with respect to Note Receivables covering Equipment with an original cost less than $25,000; (h) Borrower is the sole legal and beneficial owner of each Note Receivable identified to Agent as an Eligible Note Receivable, and all related documents and Books, and no participatio...
Eligible Notes Receivable. With respect to each Note Receivable identified as an Eligible Note Receivable or otherwise included in the calculation of the Borrowing Base on the most recent Borrowing Base Certificate:
Eligible Notes Receivable. Section 1.1(bb)(xv) is hereby deleted in its entirety and in its place instead is substituted the following:
Eligible Notes Receivable. Each Note Receivable which is assigned to Lender pursuant to this Agreement and against which an Advance is requested or which is assigned in satisfaction of Borrower's obligations under Section 2.7(c) shall be an Eligible Note Receivable at the time of assignment. Borrower has Performed all of its obligations to Purchasers, and there are no executory obligations to Purchasers to be Performed by Borrower, except for non-delinquent and executory obligations disclosed to Purchasers in their Purchase Contracts.
Eligible Notes Receivable. Section 1.1(z) of the Loan Agreement, Section 6 of the First Modification Agreement and Section 5 of the Second Modification Agreement are hereby deleted in their entirety and replaced with the following:
Eligible Notes Receivable. All Eligible Notes Receivable included in the Notes Receivable Borrowing Base meet the criteria for Eligible Notes Receivable.
Eligible Notes Receivable. An Eligible Note Receivable shall be a promissory note constituting a negotiable instrument made, executed and delivered to Borrower evidencing bona fide Indebtedness owing to Borrower as a result of a Mortgage Loan made by Borrower to the Maker of such Eligible Note Receivable:
Eligible Notes Receivable. The following provision is hereby added as subsection (t) to the definition of Eligible Notes Receivable:
Eligible Notes Receivable. The following provision is hereby added as subsection (t) to the definition of Eligible Notes Receivable set forth in Appendix 1 to the Second Amendment to Receivables Loan:
