Eligible Debtor definition

Eligible Debtor means a Debtor having the characteristics described in detail in article 8 of each Receivables Purchase Agreement.

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Eligible Debtor means any person who satisfies the eligibility criteria in section 5 of this Code;

Eligible Debtor has the meaning set out under the Schedule 4 (Eligible Receivables and Eligible Debtors);

Examples of Eligible Debtor in a sentence

VAT) sold to it in accordance with article 3.1 of this Agreement in accordance with the discount formula as agreed upon in article 6.2 within: (i) the limits of the available room under the Maximum Program Amount: and (ii) the credit limits on the Eligible Debtor as issued by the Purchaser: (iii) insofar as an Eligible Receivable entirely falls within this credit limit.
In any event the following situations of non-payment by an Eligible Debtor are excluded from any risk coverage by the Purchaser: • non-payment resulting from the supply of goods before granting or after withdrawal of the credit limit; • non-payment caused by natural forces, war, civil war or revolution; • damages resulting from accounts receivable for which the necessary permits, customs documents or import and/or export documents are missing; non-payment as a result of a dispute on the delivery.
It is understood that should the Agreed Ceiling of an Eligible Debtor and/or its Individual Uninsured Eligible Receivable Ceiling be exceeded and the Assignee has not notified the Assignor of its intention to purchase Eligible Receivables related to that debtor above the agreed limits, the Receivables held vis-à-vis that Eligible Debtor exceeding those limits shall not be assigned on the immediately following Offer Date or Collection Transfer Date.

More Definitions of Eligible Debtor

Eligible Debtor means, as of any date of determination, a Debtor that satisfies, without limitation, the following criteria as of such date:

Eligible Debtor has the meaning specified in Article 2.3.

Eligible Debtor means “municipality” as broadly defined in the federal bankruptcy statute, including any political subdivision, public agency or instrumentality of the State of Arizona, such as any local government, taxing district, or independent pension fund operating under A.R.S. §§ 38-712, et seq., 38-801, et seq., 38-841, et seq., 38-882, et seq., or local law.

Eligible Debtor means any Debtor complying with all of the Debtor Eligibility Criteria.

Eligible Debtor means a Debtor that satisfies each of the criteria set out below (as well as any further criteria set out in the applicable Local Receivables Purchase Agreement) as of the applicable Eligibility Test Date: it is an Included Debtor; it is not an Affiliate of any member of the Parent Group; subject to item (n) below, it is not a Defaulted Debtor; it is not, to the best of the knowledge of the relevant Seller, Insolvent or subject to Insolvency Proceedings; to the best of the relevant Seller's knowledge, it has not been declared Insolvent nor has a court granted its creditors a final non-appealable right of enforcement or material damages as a result of a missed payment within 3 years prior to the relevant Eligibility Test Date and has not undergone a debt restructuring process with regard to any of its non-performing receivables within 3 years prior to the Eligibility Test Date, provided that such Seller shall have no obligation to perform checks additional to those it would usually perform as Seller or Servicer solely for the purpose of determining whether these events have occurred in respect of the relevant Debtor; it is a legal entity incorporated and acting from an Eligible Debtor Jurisdiction, and if it acts from an establishment located outside its jurisdiction of incorporation both the jurisdiction of its incorporation and the jurisdiction of its establishment shall be required to be Eligible Debtor Jurisdictions in accordance with the definition thereof; it is a corporate entity acting in its ordinary course of business; it is not an entity owing a payment under a Receivable which is already subject to (or offered to sale under) any securitisation, factoring or invoice discounting transaction or any other transaction having similar legal content and/or effect, entered into by any of the Sellers, other than the Programme; it is identified with a unique ID number (as determined by the Programme Manager) in the system of the Applicable Seller; it is not entitled to claim immunity from suit, execution, attachment or other legal process in any proceedings taken its jurisdiction of incorporation in relation to the Receivables; it is neither an individual nor an entity which benefits from any applicable consumer protection laws or regulations including but not limited to the Consumer Credit Directive (2008/48/EC) of the European Union as may be updated or replaced from time to time or any implementing legislation in any Member State of the European Union; ...

Eligible Debtor means a Debtor having, on the given date, all of the characteristics set forth under Clause 8.

Eligible Debtor means a Debtor who satisfies the criteria set out in Schedule 3 (Eligibility Criteria) of the Receivables Sale Agreement;