Cross-Age definition
Cross-Age means those accounts with 25% or more of their total outstanding balance over 90 days from invoice date. Exceptions to the Concentration rule will be permitted by Bank for pre-approved obligor(s) that would otherwise be considered Concentration Accounts. Pre-approved obligors will be listed as an Attachment to the Loan Documents.
Cross-Age means those Accounts with 25% or more of its total outstanding balance over 90 days from invoice date.
Cross-Age means those accounts with 25% or more of their total outstanding balance over 90 days from invoice date. Exceptions to the Concentration rule will be permitted by Bank for pre-approved obligor(s) that would otherwise be considered Concentration Accounts. Pre-approved obligors will be listed as an Attachment to the Loan Documents. Collateral The Loan will be secured by valid, enforceable and perfected first priority liens and security interests in the following (“Collateral”): all of Borrower’s assets and property, including (without limitation) all of Borrower’s furniture, fixtures, equipment, accounts and accounts receivable, documents, instruments, securities and deposit accounts, acquired software and computer programs and Intellectual Property. By acceptance of this Commitment, Borrower will grant to Bank a lien and security interest in the Collateral.
Examples of Cross-Age in a sentence
Lender may in its sole and absolute discretion change from time to time the NCV, Advance Rate, Cross-Age Percentage and Reserve, and may revise Schedule A accordingly.
Lender may in its discretion based on changes in Borrower’s b▇▇▇▇▇▇▇ and collections of Accounts change from time to time the NCV, Advance Rate, Cross-Age Percentage, Concentration Limit, and Reserve, and may revise Schedule A accordingly.