Examples of Eligible Note Receivable in a sentence
As a result, ten companies submitted expressions of interest in this RFP, and seven ultimately became eligible.
Each Note Receivable which is assigned to Lender pursuant to this Agreement and against which an Advance is requested or which is assigned in satisfaction of Borrower's obligations under Section 2.7(c) shall be an Eligible Note Receivable at the time of assignment.
In the event as to a particular Note Receivable, the documents described in subsections (a), (b), (c) or (d) above are not delivered to the Custodial Agent prior to the expiration of the applicable Trailing Documents Delivery Date, then that Note Receivable shall no longer be deemed an Eligible Note Receivable and if a Borrowing Base Shortfall occurs as a result of such ineligibility, the provisions of Section 2.7(c) shall be applicable.
In the event that any Eligible Note Receivable becomes available thereafter, the Borrower shall promptly substitute such Eligible Note Receivable for the Ineligible Note Receivable pledged to Agent.
Notwithstanding the foregoing, Agent will have the right to underwrite any Note Receivable with an original principal balance in excess of $15,000,000 to determine, in Agent’s sole discretion, whether such Note Receivable shall be an Eligible Note Receivable.