Examples of Eligible Accounts Receivables in a sentence
Agent may rely, in determining which Accounts are Eligible Accounts Receivables, on all statements and representations made by Borrowers with respect thereto.
Permit the Borrower's ratio of (i) the sum of cash, Eligible Accounts Receivables and inventory and (ii) the sum of the outstanding balance of the Note and any outstanding Senior Indebtedness, to be less than 2.0 to 1.0.
Additionally, the Agent may establish such reserves against the Eligible Accounts Receivables and Eligible Unbilled Receivables from time to time as determined by the Agent (in a commercially reasonable manner), in each case without in any way impairing the rights of the Lenders and the Agent in and to the same under the Security Agreements.
Permit the ratio of (i) the sum the Borrower's and M & L Wholesale Food, LLC's cash, Eligible Accounts Receivables and inventories and (ii) the sum of the outstanding balance of the Note, any outstanding Senior Indebtedness and any outstanding indebtedness of M & L Wholesale Food, LLC, to be less than 1.75 to 1.0.
As part of the First Amendment, the Company entered into a line of credit of up to the lesser of (i) £7.5 million and (ii) the equivalent of 80% of Eligible Accounts Receivables, as defined, plus £2.5 million (the Revolving Line).