Ineligible Account definition

Ineligible Account means an Account that at the time of determination is not an Eligible Account.

Ineligible Account has the meaning set forth in Section 5.18 of the Base Indenture.

Ineligible Account means, as of any date of determination, each Account that is not an Eligible Account on such date.

Examples of Ineligible Account in a sentence

• In the event that any of the Collection Account, any Management Account or any Collection Account Administrative Account becomes an Ineligible Account, the Manager shall, promptly following the establishment of such related new Eligible Account, notify each Franchisee of a change in payment instructions, if any.

• Accounts to be Sold shall not include any Ineligible Account as defined in Section II.A.2. below.

• In the event that any Collection Account, any Management Account or any Collection Account Administrative Account becomes an Ineligible Account, the applicable Manager shall, promptly following the establishment of such related new Eligible Account, notify each applicable Franchisee and any other relevant third-party payor of a change in payment instructions, if any.

• In the event that any of the Collection Account, any Concentration Account, any Collection Account Administrative Account or the DNAF Account becomes an Ineligible Account, the Manager shall, promptly following the establishment of such related new Eligible Account, notify each Franchisee of a change in payment instructions, if any.

• All Collections that relate to time periods on or after the applicable Redesignation Date in respect of a Performance Impaired Ineligible Account will be allocated between those Sold Receivables that remain sold to the Buyer and those Receivables originated in such Performance Impaired Ineligible Account on or after such Redesignation Date in the manner provided in Section 2.4(c).

More Definitions of Ineligible Account

Ineligible Account means, at any time, an Account that is (i) a Secured Account; (ii) not payable in Canadian dollars;

Ineligible Account. An Account other than an Eligible Account as determined by Purchaser in its sole discretion.

Ineligible Account means, at any time, an Account that is (i) a Secured Account; (ii) not payable in Canadian dollars; (iii) a Mastercard-branded Credit Card Account; or (iv) a co-branded or co-labelled Visa-branded Credit Card Account, other than an Aeroplan or Air Canada co-branded or co-labelled Visa-branded Credit Card Account.

Ineligible Account means any Account:

Ineligible Account means an Account: a. which has been identified in the Seller’s processing system as deceased, or with respect to which the Cardholder obligated on such Account has died before the Closing Date and there is no remaining Cardholder obligated on such Account; b. which as of the Closing Date was or should have been canceled or blocked because (i) an applicable Cardholder has notified Seller that the Credit Card was lost or stolen; (ii) fraud (either in connection with the use of, the application for, or the establishment of such Credit Card) or unauthorized use occurred; or (iii) an applicable Cardholder notified Seller (or Seller otherwise became aware or should have become aware using Seller’s Policies and Procedures) that fraud or unauthorized use may have occurred in connection with any such Account; c. with respect to which any Cardholder obligated on such Account is, or within thirty (30) days after the Closing Date has filed to be, a debtor in a proceeding instituted under the United States Bankruptcy Code or any bankruptcy, insolvency or other law for the relief of debtors prior to the Closing Date and for which, other than such Cardholder, there is no other responsible Cardholder obligated on the Account; or any such Account where the Cardholder is working with Seller or a consumer credit counseling service for altered pay-off terms; d. which is, as of the Closing Date, five or more payments past due; e. which was or should have been written off prior to the Closing Date in accordance with Seller’s customary accounting practices; f. which has been closed in accordance with Seller’s Policies and Procedures and has a balance that is equal to or less than zero as of the Closing Date; g. which as of the Closing Date is subject to any lien, interest, or right of any affiliate of Seller or any third party; or is an Account that is securitized; h. which as of the Closing Date has an annual percentage rate on any balance that cannot be changed by Seller because of the terms or provisions of the Cardholder Agreement or any marketing materials for such Account or any Requirements of Law (including, but not limited to, Accounts subject to a consumer credit counseling service payment plan agreement or court order, but specifically excluding any Accounts subject to the Servicemembers Civil Relief Act as of the Closing Date); i. which as of the Closing Date is not governed by the terms of a Cardholder Agreement; j. on which there exists a billing dispute as of the ...

Ineligible Account shall have the meaning set forth in Section II.A.2.

Ineligible Account means all or any part of any Account that is not an Eligible Account.