Eligible Paper definition

Eligible Paper. The words "Eligible Paper" mean, at any time, Borrower's Chattel Paper which Lender, in the reasonable exercise of its credit judgment, finds acceptable. Unless otherwise agreed to by Lender in writing, Eligible Paper does not include:
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Eligible Paper mean, at any time, Borrower's Chattel Paper which Lender, in the reasonable exercise of its credit judgment, finds acceptable. Unless otherwise agreed to by Lender in writing, Eligible Paper does not include:
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Eligible Paper means Paper of MAC and MSE created by MAC and -------------- MSE in the ordinary course of business and arising out of the sale or lease of goods, which are and at all times shall continue to be acceptable to the Agent in all respects in its reasonable discretion. Standards of eligibility may be fixed and revised from time to time solely by the Agent in the Agent's reasonable discretion. In general, without limiting the foregoing, Paper shall in no event be deemed to be Eligible Paper unless:
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Examples of Eligible Paper in a sentence

  • Seller shall from time to time offer to sell to the Bank an undivided fifty percent (50%) participation interest in Paper (which shall be only Eligible Paper), and the Bank may, in its sole discretion, accept or reject any such offer.

  • Borrower shall deliver to Lender all original instruments representing Eligible Paper.

  • Upon request of Lender, Borrower shall deliver to Lender all other Eligible Paper documentation, including, without limitation, all original disclosure statements, security agreements, financing statements (unless financing statements are filed in which event Lender will be provided with a copy showing filing information), and all other supporting documentation.

  • All account receivables (other than Eligible Receivables and Eligible Paper) are valid, binding and enforceable obligations of account debtors.

  • Grantor may contest in good faith any such law, ordinance or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as, in Lender's reasonable opinion, Lender's interest in any of the Collateral that is included in Eligible Paper under the Loan Agreement, is not jeopardized.

  • Without duplication, all Eligible Receivables and Eligible Paper of the Borrowers are valid, binding and enforceable obligations of account debtors and are not subject to any good faith claims, defenses or setoffs.


More Definitions of Eligible Paper

Eligible Paper means Paper:
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