Eligible Government Receivables means receivables arising from the bona fide sale or lease of Eligible Inventory with acceptable account debtors who are either municipal, county or state government entities with accounts that are less than ninety days old, other than unpaid settlements (commonly known as Code 3 shortages).
Eligible Government Receivables means those Receivables arising solely from purchase orders that are not due or unpaid more than ninety (90) days after the original invoice where the Customer is the United States of America, any state or local government or municipality, and any department, agency or instrumentality of any of them.
Eligible Government Receivables means, at any date of determination ------------------------------- thereof, any bona fide Account arising out of a Government Contract created or acquired by any Borrower or any Subsidiary thereof in the ordinary course of their business as presently conducted for which the Account Debtor has been billed and that (a) the applicable Borrower shall have satisfied the requirements of the Assignment of Claims Act, as amended, and any similar state legislation in respect thereof; (b) the Administrative Agent is satisfied as to the absence of set-offs, counterclaims and other defenses to payment on the part of the United States or such state governmental authority; and that (c) the Account satisfies and continues to satisfy requirements contained in clauses (i) through (xii) of the definition of Eligible Commercial Receivables; provided, -------- that with regard to clauses (iii) and (iv) of such definition, Accounts arising under Government Contracts which do not remain unpaid for a period of more of more than one-hundred twenty (120) days beyond the applicable invoice date shall qualify as "Eligible Government Receivables".
Examples of Eligible Government Receivables in a sentence
Each Grantor will take all steps necessary to comply with the Assignment of Claims Act for all Eligible Government Receivables, including, without limitation, obtaining assignments and notices of assignment substantially in the forms of Exhibits B-1 and B-2, or such other form as may be required by the applicable Governmental Authority, and filing each such notice with the Governmental Authority or agency or other office described therein.
More Definitions of Eligible Government Receivables
Eligible Government Receivables means those Receivables arising solely from purchase orders that are not due or unpaid more than ninety(90) days after the original invoice where the Customer is the United States of America, any state or local government or municipality, and any department, agency or instrumentality of any of them.
Eligible Government Receivables means with respect to any Borrower, each Receivable of such Borrower arising in the Ordinary Course of Business which satisfies the criteria set forth in the definition of “Eligible Receivables” other than clause (j) thereof. A Receivable shall not be deemed an Eligible Government Receivable unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by documentation satisfactory to Agent in its Permitted Discretion and has been verified to Agent’s reasonable satisfaction pursuant to field examination and other verifications from time to time performed on behalf of Agent pursuant to the terms of this Agreement. In addition, no Receivable shall be an Eligible Government Receivable:
Eligible Government Receivables means, at any time, Government ------------------------------- Receivables so long as the following conditions have been met: (1) the Bank has received the unaudited financial statements of the Company and its Subsidiaries as at June 30, 1994 in accordance with Section 5.1(c) hereof, (2) no Default or Event of Default has occurred and is continuing, (3) all such Government Receivables are invoiced designating the Lockbox as the address for payment, and (4) the Bank has received with respect to each such Governmental Receivable all documents and instruments necessary to comply with the Assignment of Claims Act, including, without limitation, the following in form and substance acceptable to the Bank: (A) notice of assignment appropriately completed, (B) an instrument of assignment in appropriate form duly executed and acknowledged by the Company or IAC, as applicable, to be forwarded by the Bank to the appropriate contracting officer and disbursing officer (if different from the contracting officer), and (C) a true, correct and complete copy of the related contract."
Eligible Government Receivables means Receivables which meet all requirements of Eligible Receivables other than the condition set forth in subsection (i) of the definition of Eligible Receivables.
Eligible Government Receivables means, at the time, any ------------------------------- Eligible Receivables for which the related Obligor is the United States of America, any State or any agency or instrumentality or political subdivision thereof.
Eligible Government Receivables means any Account Receivable ------------------------------- of the Borrower or any of its Subsidiaries which meets the following requirements:
Eligible Government Receivables means all Eligible Receivables representing a sale to any federal, state or local government of the United States or any department, agency, instrumentality or political subdivision thereof pursuant to contracts under which the Borrower or a Subsidiary is the prime contractor or a subcontractor with the prime contractor.