Acceptable Receivable means an account receivable which satisfies the following requirements:
Acceptable Receivable means an Account:
Acceptable Receivable means an account receivable of a Borrower which satisfies the following requirements:
Examples of Acceptable Receivable in a sentence
If a credit adjustment is made with respect to any Acceptable Receivable, the amount of such adjustment shall no longer be included in the amount of such Acceptable Receivable in computing the Borrowing Base.
If a client adjustment is made with respect to any Acceptable Receivable, the amount of such adjustment shall no longer be included in the amount of such Acceptable Receivable in computing the Borrowing Base.
If a credit adjustment is made with respect to any Acceptable Receivable, the amount of such adjustment shall no longer be included in the amount of such Acceptable Receivable in computing the Domestic Borrowing Base.
If a credit adjustment is made with respect to any Acceptable Receivable, the amount of such adjustment shall not longer be included in the amount of such Acceptable Receivable in computing the Borrowing Base.
A material default by the Borrower occurs under the terms of any Acceptable Receivable or any breach in the Borrower's performance obligations occurs under any Acceptable Receivable.
More Definitions of Acceptable Receivable
Acceptable Receivable means an account receivable of any Company which satisfies the following requirements:
Acceptable Receivable is amended in its entirety to read as follows:
Acceptable Receivable means an Account: (a) Arising from the sale of Acceptable Inventory or power produced by the Company's cogeneration plant in Scotia, California, by the Company in its ordinary course of business; and if arising from the sale of Acceptable Inventory, is in an amount equal to or less than $500,000. The Bank may, from time to time, exempt specific Accounts from this $500,000 limit; (b) Upon which the Company's right to receive payment is absolute and not contingent upon the fulfillment of any condition whatever; (c) Against which is asserted no defense, counterclaim or setoff, whether well-founded or otherwise; (d) That is a true and correct statement of a bona fide indebtedness incurred in the amount of the Account for merchandise sold and accepted by the Receivable Debtor obligated upon such Account; (e) With respect to which an invoice has been sent; (f) That is owned by the Company and not subject to any right, claim, or interest of another other than the security interest in favor of the Bank; (g) That does not arise from a sale to an employee, Affiliate, parent, or Subsidiary of the Company, or an entity which has common officers or directors with the Company; except that up to 20% of the total balance of Acceptable Receivables may include Accounts on which the Receivable Debtor is Britt Lumber Co., Inx.; (h) That is not the obligation of a Receivable Debtor that is the federal government or a political subdivision thereof unless the Bank has agreed to the contrary in writing and the Company has complied with the Federal Assignment of Claims Act of 1940 with respect to such obligation; (i) That is not the obligation of a Receivable Debtor that is any state of the United States or any city, town, municipality or division thereof; except for Accounts up to an aggregate outstanding amount at any one time of $100,000 which arise in one of the following ways: (1) The sale of power produced by the Company's cogeneration plant in Scotia, California; or (2) The sale of lumber to cities and towns; (j) That is not the obligation of a Receivable Debtor located in a foreign country; (k) That is not the obligation of a Receivable Debtor to whom the Company is or may become liable for goods sold or services rendered by the Receivable Debtor to the Company except to the extent that it exceeds the amount of the Company's obligation to such Receivable Debtor; (l) That does not arise with respect to goods which are delivered on a cash-on-delivery basis or placed on consi...
Acceptable Receivable means an account receivable of the Borrower or Metra (but not any other Significant Subsidiaries) which satisfies the following requirements:
Acceptable Receivable is amended by deleting "$500,000" in the two places in which such amount appears and replacing it with "$2,000,000".
Acceptable Receivable means an account receivable or note receivable (each a "Receivable") of the Company arising in the ordinary course of business, provided, however, that (i) the Closing Statement (defined in Section 1.4 below) shall only include as an asset such a Receivable which is no more than 90 days outstanding on the Computation Date but (ii) to the extent that one or more Receivables outstanding more than 90 days on the Computation Date are collected within 90 days after the Computation Date, to the extent such collections exceed $50,000 such excess shall be paid to Seller as additional Purchase Price at the time of such collection. The "accrued tax benefits" shall be any tax benefits or refunds reportable on the statutory balance sheet of the Company. For this purpose, Purchaser acknowledges that the Company shall elect to carryback any net operating loss deduction of the Company. Any assets not meeting the standard described in this subsection (d) -4- 9 will either be replaced by assets meeting that standard or distributed to its shareholder prior to Closing as part of the Stock Redemption herein described. With respect to a determination of the value to be ascribed to unrealized capital gains and losses, if there is a failure among the parties to agree as to the determination of value of any of such assets, Seller agrees to sell or replace such asset with an asset meeting the above-described standard or distribute such assets as part of the Stock Redemption. Seller and Purchaser shall use their reasonable best efforts to agree on the value of such assets and Purchaser shall notify Seller of its acceptance of any existing assets not later than fifteen (15) days prior to the Closing.
Acceptable Receivable set forth in Section 1 of the Agreement is amended to add the following two sentences to the end of such paragraph. “It is provided, however, that if the debtor obligated upon an account is Flight Options, the concentration limitation applicable to such debtor will be increased to 25%; provided, however, in the event that the debt rating of