Common use of Unearned Income Clause in Contracts

Unearned Income. With respect to Customer Receivables any interest component to be paid by the Customer in the future in connection with such Customer Receivable which is accounted for by the Borrower as unearned income under generally accepted accounting practices.

Appears in 3 contracts

Sources: Credit Agreement (HPSC Inc), Revolving Credit Agreement (HPSC Inc), Credit Agreement (HPSC Inc)