Eligible Foreign Accounts definition

Eligible Foreign Accounts means Accounts with respect to which the account debtor does not have its principal place of business in the United States and that (i) are supported by one or more letters of credit in an amount and of a tenor, and issued by a financial institution, acceptable to Bank, or (ii) that Bank approves on a case-by-case basis.

Eligible Foreign Accounts means Accounts with respect to which the account debtor does not have its principal place of business in the United States and that are (i) supported by one or more letters of credit in an amount and of a tenor, and issued by a financial institution, acceptable to Bank, (ii) insured by the Export Import Bank of the United States, (iii) generated by an account debtor with its principal place of business in Canada, provided that the Bank has perfected its security interest in the appropriate Canadian province, or (iv) approved by Bank on a case-by-case basis. All Eligible Foreign Accounts must be calculated in U.S. Dollars.

Eligible Foreign Accounts means all Accounts owed by Account debtors located outside the US for the sale or provision of Items, except the following shall not in any event be deemed Eligible Foreign Accounts:

Examples of Eligible Foreign Accounts in a sentence

• To facilitate the financing of EX-IM Eligible Foreign Accounts, the EX-IM Bank has agreed to guarantee the EX-IM Advances made under this EX-IM Agreement, pursuant to a Master Guarantee Agreement, Loan Authorization Agreement and (to the extent applicable) Delegated Authority Letter Agreement (collectively, the “EX-IM Guarantee”).

• To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Accounts and Eligible Foreign Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms.

• Adjusted Quick Ratio at least 1.50:1.00 Prime + 0.75% (Eligible Accounts) or Prime + 1.25% (Eligible Foreign Accounts); Yes No Adjusted Quick Ratio less than 1.50:1.00 Prime + 1.50% (Eligible Accounts); Prime + 2.00% (Eligible Foreign Accounts) Yes No The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

• Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are Eligible Accounts or Eligible Foreign Accounts in any Borrowing Base Certificate.

• For any Eligible Account and Eligible Foreign Account in any Borrowing Base Certificate, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such Eligible Accounts and Eligible Foreign Accounts are and shall be true and correct and all such invoices, instruments and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be.

More Definitions of Eligible Foreign Accounts

Eligible Foreign Accounts means Accounts that satisfy all of the criteria of “Eligible Accounts” except clause (f) thereof, but do not qualify as an Eligible Credit Insurance-Backed Foreign Account or Eligible Letter of Credit-Backed Foreign Account; provided that the Account Debtor with respect thereto maintains its chief executive office in a Specified Country.

Eligible Foreign Accounts means Accounts due and owing by an Account debtor located outside the United States; but excluding any Accounts having the following characteristics:

Eligible Foreign Accounts. Accounts for which the Account Debtor does not have its principal place of business in the United States but are otherwise Eligible Accounts.

Eligible Foreign Accounts means Accounts with respect to which the account debtor does not have its principal place of business in the United States and that are: (1) covered by credit insurance in form and amount, and by an insurer satisfactory to Bank less the amount of any deductible(s) which may be or become owing thereon: or (2) supported by one or more letters of credit in favor of Bank as beneficiary, in an amount and of a tenor, and issued by a financial institution, acceptable to Bank; or (3) that Bank approves on a case-by-case basis.

Eligible Foreign Accounts means Accounts with respect to which the account debtor is Siemens A.G., a German corporation, or other account debtors, if any, as may be from time to time approved in writing by Bank.

Eligible Foreign Accounts are Accounts that would be Eligible Accounts but for the fact that the Account Debtor’s principal place of business is not in the United States that are approved by Bank in writing in Bank’s sole and absolute discretion on a case-by-case basis.”

Eligible Foreign Accounts are Accounts for which the account debtor does not have its principal place of business in the United States that Bank approves in writing, and Accounts for which the account debtor has its principal place of business in Canada, but are otherwise Eligible Accounts, and that SVB approves in writing. As used herein, Eligible Foreign Accounts shall include, Clydesdale Bank and/or Yorkshire Bank, provided that the total Advances relating thereto do not exceed Five Hundred Thousand Dollars ($500,000.00);”