Eligible Commitment Contracts definition
Eligible Commitment Contracts. Means those Contracts that (a) bind the Customer to purchase TiVo Services on a month to month basis from the Company for a multi-month period of time, (b) comply with each of the representations and warranties respecting Eligible Commitment Contracts made by the Company under the Loan Documents and (c) are not excluded as ineligible by virtue of one or more of the criteria set forth below; provided, however, that such criteria may be revised from time to time by the Administrative Agent in the Administrative Agent’s reasonable discretion to address the results of any audit performed by or for the benefit of the Administrative Agent if and to the extent that the audit shows adverse deviations from the information provided by the Company with respect to the Eligible Commitment Contracts. Eligible Commitment Contracts shall not include the following:
Examples of Eligible Commitment Contracts in a sentence
As to the Contracts that are identified by the Company as Eligible Commitment Contracts in a Borrowing Base Certificate submitted to the Administrative Agent, such Contracts are Eligible Commitment Contracts and are otherwise not excluded as ineligible by virtue of one or more of the excluding criteria set forth in the definition of Eligible Commitment Contracts.
The Eligible Commitment Contracts are bona fide existing Contracts generated in the ordinary course of the Company’s business that represent bona fide payment obligations of the related Customers.