Eligible Wal-Mart Accounts definition
Eligible Wal-Mart Accounts means those Eligible Accounts owing by Wal-Mart other than any such Accounts which remain unpaid (i) at any time that the Company is not a participant in the Wal-Mart accelerated payment program, 90 days or more after the invoice date and (ii) at any time that the Company is a participant in the Wal-Mart accelerated payment program, 30 days or more after the invoice date.
Eligible Wal-Mart Accounts set forth in Section 1.1 of the Loan Agreement are hereby amended and restated to read in their entirety as follows:
Eligible Wal-Mart Accounts means Eligible Accounts for which Wal-Mart/Sam’s is the Account Debtor.
More Definitions of Eligible Wal-Mart Accounts
Eligible Wal-Mart Accounts means, at any time, each Account owing to Borrower by Wal-Mart/Sams created in the ordinary course of business and satisfying the following conditions.
Eligible Wal-Mart Accounts means each Eligible Account for which Wal-Mart/Sam’s is the Account Debtor; provided, however, that the aggregate of all Accounts owed by Wal-Mart/Sam’s does not exceed 70% of the Borrowing Base; provided further, however, that if such Accounts exceeds 70% of the Borrowing Base, such portion of such Accounts not in excess of 70% shall be eligible.”