Eligible Xxxxxxxx definition

Eligible Xxxxxxxx means a Receivable created by a Loan Party, including any Receivable relating to any progress billing or retainage invoice, that satisfies each of the criteria contained in the definition of Eligible Receivable other than clauses (i) or (m) of such definition; provided, that, in the case of a Receivable relating to a progress billing, such Receivable also satisfies the following criteria as: (a) such Receivable is not unpaid more than thirty (30) days after the date of the original invoice for them and (b) such Receivable either (i) arises from a short term contract (which for this purpose shall mean a contract which will be fully performed by such Loan Party within sixty (60) days (or a longer number of days reasonably satisfactory to the Administrative Agent) of the first date on which performance by such Loan Party was commenced under such contract) or (ii) arises from the final invoice with respect to a contract.

Eligible Xxxxxxxx means invoices sent to Borrower's customers arising in the ordinary course of Borrower's business from the sale of goods or the rendition of services, or the non-exclusive licensing of Intellectual Property. Without limiting the fact that the determination of which invoices are eligible for borrowing is a matter of PFG's good faith business judgment, the following (the "Minimum Eligibility Requirements") are the minimum requirements for an invoice to be an Eligible Billing:

Eligible Xxxxxxxx means invoices sent to Borrower’s customers arising in the ordinary course of Borrower's business from the sale of goods or the rendition of services, consistent with past recognition policies of the company; provided that such invoices (for purposes of being considered for Eligible Xxxxxxxx) may not be owing from an Affiliate of Borrower or any Person with respect to which there is material dispute involving Borrower.

Examples of Eligible Xxxxxxxx in a sentence

• Without limiting the foregoing, until the fifth anniversary of the Closing Date, Xxxxxxxx shall maintain sole direct or indirect beneficial ownership, free and clear of all liens, encumbrances, and claims created or caused by Xxxxxxxx or CC, of a number of Xxxxxxxx Shares equal to or greater than that number of Eligible Xxxxxxxx Shares that would be included in a Liquidated Damages Payment that became payable as of the date of determination.

• PFG may, from time to time, modify the Advance Rates, in its good faith business judgment, upon notice to the Borrower, based on changes in collection experience with respect to Eligible Xxxxxxxx and its evaluation of factors relating to Collateral.

• Colorado Department of Regulatory Agencies Office of Policy and Research, “Colorado Motorist Insurance Identification Database Program Act: 2002 Sunset Review,” Report to the Office of Legislative Legal Services, p.