Common use of Progress Billing Clause in Contracts

Progress Billing. Accounts (i) as to which a Credit Party is not able to bring suit or otherwise enforce its remedies against the Account Debtor through judicial process, or (ii) if the Account represents a progress billing consisting of an invoice for goods sold or used or services rendered pursuant to a contract under which the Account Debtor’s obligation to pay that invoice is subject to a Credit Party’s completion of further performance under such contract or is subject to the equitable lien of a surety bond issuer;

Progress Billing. Accounts such Account (i) as to which a Credit Loan Party is not able to bring suit or otherwise enforce its remedies against the applicable Account Debtor debtor through judicial process, process or (ii) if the Account represents a progress billing consisting of an invoice for goods sold or used or services rendered pursuant to a contract under which the Account Debtordebtor’s obligation to pay that invoice is subject to a Credit Loan Party’s completion of further performance under such contract or is subject to the equitable lien of a surety bond issuer;

Progress Billing. Accounts (i) as to which a Credit Loan Party is not able to bring suit or otherwise enforce its remedies against the Account Debtor through judicial process, or (ii) if the Account represents a progress billing consisting of an invoice for goods sold or used or services rendered pursuant to a contract under which the Account Debtor’s obligation to pay that invoice is subject to a Credit Loan Party’s completion of further performance under such contract or is subject to the equitable lien of a surety bond issuer;