Common use of Progress Billing Clause in Contracts

Progress Billing. Accounts (i) as to which the Borrower, Listerhill or AEMS, as applicable, 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 completion of further performance by any Subsidiary of Holdings under such contract or is subject to the equitable lien of a surety bond issuer;