Eligible A/R definition

Eligible A/R means Accounts of PowerSecure or Southern Flow, as applicable, arising in the ordinary course of such applicable Borrower’s business from arms-length transactions, provided, however, that unless otherwise approved by Lender in writing, a Account shall not constitute an Eligible A/R if:
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Eligible A/R means with respect to the Loan Parties, the aggregate of the following, without duplication, and calculated monthly, or as otherwise required hereunder:
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Eligible A/R means all accounts receivable of Borrower and all subsidiaries (on a consolidated basis) excluding: (A) all accounts receivable (“A/R”) in excess of sixty (60) days past due; (B) all A/R from a particular account debtor if 25% or more of the aggregate A/R from such account debtor are in excess of 60 days past due; and (C) all A/R which Lender in its sole discretion deems ineligible. If a particular delinquent A/R results from a bankruptcy restructuring assignment where the Borrower’s fees are subject to any court ordered holdbacks such A/R will be removed for all purposes of calculating the twenty-five percent cross-aging discussed above.
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Examples of Eligible A/R in a sentence

  • So long as the AR Loan is outstanding, or is replaced with one or more loans from another Eligible AR Lender, whether before, concurrent with or at any time after the Eligible AR Loan is indefeasibly satisfied in full, the relative priorities of Lender and the Eligible AR Lender in and to the Accounts and certain other assets of Operator shall be established and governed by the terms of the Required Intercreditor Agreement.

  • Any provisions of this Agreement shall be: (i) subject to the rights of any Eligible AR Lender as set forth in a Required Intercreditor Agreement, and (ii) granted to the fullest extent permitted by and not in violation of any applicable law (now enacted and/or hereafter amended) and any Provider Agreements.

  • Any provisions of this Agreement shall be: (i) subject to the rights of any Eligible AR Lender as set forth in a Required Intercreditor Agreement and subject to the rights of First Lender under the First Mortgage Documents, and (ii) granted to the fullest extent permitted by and not in violation of any applicable law (now enacted and/or hereafter amended) and any Provider Agreements.

  • If, for any such week, the actual weekly cash flow results for the line items identified as Ending Account Balance, GMAC Availability, Gross Total Collateral, Total Investment, Ending Balances—Net A/R Outstanding, Net Eligible A/R Outstanding, GMAC Drawdowns, Total Disbursements and Remaining Operating Cash, negatively deviate from the projections for such week set forth on Exhibit A by more than ten percent (10%), then such deviation shall constitute an Event of Default under the Loan Documents.

  • An “Eligible AR Account” is one approved from time to time by the Agent, in its sole discretion, upon application to include such Eligible AR Account to the Facility through execution of a Loan Supplement and is further defined in Exhibit C attached hereto.

  • All of the Accounts included as Eligible A/R on Schedule 1 are Eligible Receivables.

  • From and after an AR Customer becomes the payor of an Eligible AR Account, Borrower agrees to notify AR Customer that (i) such amounts are now owed to Lenders, (ii) instruct AR Customer to route all payments for all obligations owed to Borrower by AR Customer to Lender pursuant to the Lender’s payment instructions and that (iii) all such payments to Lender will be fully credited on Borrower’s systems as a payment against the Eligible AR Account owed by AR Customer.

  • It is intended that this Facility be made for multiple Eligible AR Accounts up to the amounts set forth from time to time in executed Loan Supplements.

  • Borrowing Base Certificate As of ($M) Total A/R per Aging $ Less Ineligibles: > 90 days from invoice $ Cross age @ 50% $ Contras $ Foreign $ Affiliated $ Government $ Credit reclass $ Extended terms $ Concentration $ Unearned $ Bankrupt $ Disputed $ Other $ Total Ineligibles $ Eligible A/R $ Advance Rate 85 % Available A/R $ Less Reserves $ Available A/R, Net $ Postmedia Network Inc.

  • For purposes of this paragraph, (A) the Facility B Draw Outstandings shall be considered Current Liability, (B) the Current Assets of Southern Flow shall include the Eligible A/R of Metretek included in the Facility B Borrowing Base, and (C) the Current Assets calculation shall exclude all loans or other advances made by Southern Flow to any Affiliate.


More Definitions of Eligible A/R

Eligible A/R means the aggregate Accounts and Chattel Paper of Customer as shown on its regular books and records, excluding (i) Accounts over 90 days old from date of invoice, Chattel Paper with installments or other sums more than 60 days past due (90 days from invoice date), (ii) all amounts from any account debtor not having its principal place of business in the United States or not domiciled in the United States, (iii) Accounts and Chattel Paper and any other amounts directly or indirectly from any account debtor who is an affiliated entity of either Customer or any Business Guarantor, (iv) Accounts deemed as ineligible by MLCFC, (v) any bonded receivables, retainage, and (vi) and Accounts where the account debtor with respect to which is not any foreign government, the United States of America, any State, political subdivision, department, agency or instrumentality thereof, unless, if such account debtor is the United States of America, or any department, agency or instrumentality thereof, the Federal Assignment of Claims Act of 1940, as amended, has been complied with in a manner satisfactory to MLCFC. "MATURITY DATE" shall mean June 30, 2010.
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