Eligible Foreign Accounts Receivable means any Eligible Accounts Receivable with respect to which the Account Debtor is located outside of Canada or the United States.
Eligible Foreign Accounts Receivable. Eligible Domestic Accounts Receivable" shall mean invoices for domestic shipments and services less than ninety (90) days old and otherwise reasonably acceptable to the Lenders. "Eligible Foreign Accounts Receivable" shall mean invoices for international shipments and services not more than sixty (60) days past due and otherwise reasonably acceptable to the Lenders.
Eligible Foreign Accounts Receivable means invoices for international shipments and services not more than sixty (60) days past due and otherwise reasonably acceptable to the Lenders.
Examples of Eligible Foreign Accounts Receivable in a sentence
Such loans and advances shall be in amounts up to: A) eighty-five percent (85%) of the outstanding Eligible Domestic Accounts Receivable of the Company, B) eighty-five percent (85%) of the outstanding Eligible Foreign Accounts Receivable of the Company, and C) twenty-five percent (25%) of Eligible Domestic Finished Goods, at lower of cost or market, but not to exceed the Inventory Sub-Limit from time to time in effect.
Amounts available under the $1,500,000 revolver are limited to the amount available based on the level of Tangible Net Worth, as defined, and to 60% of Eligible Domestic Accounts Receivable plus 40% of Eligible Foreign Accounts Receivable, as defined ($1,150,000 and $1,164,000 at December 31, 1997 and March 31, 1998, respectively).
The AMS Handbook can be found at http://portal.hud.gov/hudportal/documents/huddoc?id=20006CFOH.pdf HQ OGE maintains an OIG Audit Tracking Log that lists all the OIG audits (external and internal), the findings and recommendations, target dates discussed in the AMS Handbook, and the status of the audits.
As used in this Agreement, the term “Borrowing Base” means the sum of (a) 80 percent of Eligible Domestic Accounts Receivable at the time in question, (b) 90 percent of Eligible Foreign Accounts Receivable at the time in question, and (c) 50 percent of Eligible Inventory at the time in question, provided, however, that the aggregate amount of Advances supported by Eligible Inventory shall not exceed $4,000,000 at any time.
More Definitions of Eligible Foreign Accounts Receivable
Eligible Foreign Accounts Receivable means any and all Receivables which (a) with respect to “cost-plus” or “time and materials” type contracts, represent amounts due and owing for products actually delivered or services actually performed or rendered by or on behalf of a Borrower to or for the benefit of a Foreign Account Debtor pursuant to such contract(s), and with respect to “fixed-price” type contracts, represent amounts due and owing from a Foreign Account Debtor on a percentage-of-completion or milestone billing basis in accordance with such contract(s); (b) are outstanding less than ninety-one (91) days from the date of original invoice; (c) are owing from a Foreign Account Debtor deemed acceptable by the Agent from time to time, in its sole and absolute discretion (including, without limitation, as of the Restatement Date, the Foreign Account Debtors listed on Schedule D hereto); and (d) are not otherwise Ineligible Receivables.
Eligible Foreign Accounts Receivable means, at any date of determination thereof, all of the Receivables of the Obligors payable by an Account Debtor located outside of the United States of America and Canada (a) which arise in the ordinary course of business; (b) which are not subject to any (i) asserted defense or counterclaim or (ii) setoff; (c) which do not arise from a sale, lease or rendition of services to any Obligor or any of their respective Affiliates, or employee, officer or director of such Obligor or any of its Affiliates, or upon which any Obligor or its Affiliate is an Account Debtor; (d) with respect to which the respective Obligor to which such Receivable is attributable has good and indefeasible title thereto, and has granted a perfected first priority Lien in favor of the Administrative Agent on behalf of the Lenders subject only to Permitted Liens; (e) which are not unpaid for a period greater than one hundred twenty (120) days after the invoice date thereof; (f) that are either (i) payable by an Eligible Foreign Account Debtor or (ii) insured in full by unconditional letters of credit or bankers acceptances satisfactory to Administrative Agent; (g) with respect to which the Account Debtor obligated on the Receivable has not suspended business, made an assignment for the benefit of creditors, consented to or applied for the appointment of a receiver, trustee, custodian or liquidation for itself or its assets, or instituted or become the subject of any proceeding under bankruptcy, reorganization or other debtor relief laws, (h) the right to receive payment of which is absolute and not contingent on the fulfillment of any condition and which do no pertain to goods that are on consignment, guaranteed sale or other conditional sale agreement; (i) which are not payable by an Account Debtor to whom any Obligor or its Affiliate is liable for goods sold or services rendered; and (j) which are not payable by an Account Debtor with whom Persons located in the United States of America are prohibited from doing business pursuant to applicable law. Notwithstanding the foregoing, in the event the ONGC Contract becomes effective, Receivables payable by ONGC may comprise up to $10,000,000 of the Eligible Foreign Accounts Receivable.
Eligible Foreign Accounts Receivable means the accounts receivable of Borrower and the Subsidiaries due from Persons not residents of the United States, excluding the following: (a) accounts receivable that have been outstanding in excess of 90 days from the date of invoice, (b) all accounts receivable from any single customer of Borrower or any of the Subsidiaries if 10 percent or more of such customer's accounts owed to Borrower or any of the Subsidiaries are ineligible for any reason, (c) accounts receivable due from officers, employees, or Affiliates of Borrower, (d) accounts receivable that are partially or wholly subject to the right of setoff, (e) accounts receivable resulting from COD sales, finance charges, and consignments, (f) accounts receivable that constitute any retainage, (g) accounts receivable that constitute dated billxxxx xxxer than approved by U. S. Bank in writing, (h) accounts receivable in which any Person other than U. S. Bank has a security interest, and (i) all accounts receivable from any single customer of Borrower or any of the Subsidiaries in excess of 10 percent of the aggregate amount of Eligible Accounts Receivable. Notwithstanding the foregoing, "Eligible Foreign Accounts Receivable" shall not include any accounts receivable unless and until U. S. Bank holds a first, valid, binding, and perfected security interest in any such accounts receivable. There shall be no duplication between Eligible Foreign Accounts Receivable and Eligible Accounts Receivable.
Eligible Foreign Accounts Receivable means those Accounts Receivable of a Loan Party that do not qualify as Eligible Accounts Receivable solely because the Account Debtor (or the applicable office of the Account Debtor) with respect to such Account Receivable is not located in the continental United States or Canada, but as to which such Account Receivable is either (i) owing to the Loan Parties by Logitech, Carphone Warehouse or Brightpoint, Inc. and has been reviewed and approved by the Administrative Agent prior to the Effective Date (or other Account Debtors that have been reviewed and approved by the Administrative Agent in its sole discretion after the Effective Date) or (ii) is supported by a letter of credit or other similar obligation satisfactory to, and issued by a U.S. commercial bank reasonably acceptable to, the Administrative Agent.
Eligible Foreign Accounts Receivable means at any date of determination thereof (which date shall be selected in BANK's sole reasonable discretion) all Foreign Accounts Receivable of AESP/MIAMI which are from Canadian sources and which are not Eligible Insured Foreign Receivables and which are unpaid for a period of less than ninety (90) days from the date of original invoices which are issued to solvent going concerns. There shall be excepted from Eligible Foreign Accounts Receivable all receivables from subsidiaries, affiliated companies, or entities related to BORROWER.
Eligible Foreign Accounts Receivable means, as of any date of determination and without duplication, all Eligible Accounts Receivable owing by an account debtor located outside of the United States but not located in Algeria or Saudi Arabia but excluding in any event (a) Eligible Accounts Receivables which are more than 90 days past due (net of reserves for bad debts in connection with any such Eligible Accounts Receivables), or (b) 100% of the book value of any Eligible Accounts Receivable that are not otherwise excluded by clause (a) above but are owing from an account debtor with respect to which more than 50% of the total book value of Eligible Accounts Receivable owing from such account debtor are excluded by clause (a) above.
Eligible Foreign Accounts Receivable means at any date of determination thereof (which date shall be selected in BANK's sole reasonable discretion) all Foreign Accounts Receivable of AESP/MIAMI which are not Eligible Insured Foreign Receivables and which are unpaid for a period of less than ninety (90) days from the date of original invoices which are issued to solvent going concerns. There shall be excepted from Eligible Foreign Accounts Receivable all receivables from subsidiaries, affiliated companies, or entities related to BORROWER.