Ineligible Receivables definition

Ineligible Receivables means Receivables that are not Eligible Receivables (as such term is defined in the First Tier Agreement).

Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

Ineligible Receivables shall have the meaning specified in Section 2.05(a).

Examples of Ineligible Receivables in a sentence

The Servicer shall deduct the portion of such Ineligible Receivables reassigned to each Transferor which are Principal Receivables from the aggregate amount of the Principal Receivables used to calculate the Transferor Amount.

The payment of such deposit amount in immediately available funds shall otherwise be considered payment in full of all of the Ineligible Receivables.

Proceeds treated as $0.00 Available Noteholder Principal Collections Monthly Interest Accrued, but not paid $0.00 Ineligible Receivables $0.00 Excess Funding Account at Date of Determination $0.00 Defaulted Receivables in Ineligible and Overconc.

The obligation of the Company to pay such Adjustment Payment amount specified in this Section 29(b), as the case may be, with respect to any Ineligible Receivables shall constitute the sole remedy respecting the event giving rise to such obligation available to the Secured Parties unless such obligation is not satisfied in full in accordance with the terms of this Agreement.

The amounts so deposited are to be treated for all purposes hereof as Collections on such Ineligible Receivables.

More Definitions of Ineligible Receivables

Ineligible Receivables has the meaning assigned to that term in Section 2.4(a).

Ineligible Receivables has the meaning specified in subsection 2.6(b).

Ineligible Receivables has the meaning specified in subsection 2.05(c).

Ineligible Receivables means, as at any date of determination thereof, any Receivables of any applicable Borrower which do not comply with all of the following requirements:

Ineligible Receivables means all receivables which are (a) evidenced by a promissory note or similar instrument, unless such note or instrument is endorsed in blank or to the order of the Lender and delivered to the Lender; (b) owed or payable by an account debtor who is more than ninety (90) days past due in the payment of fifty percent (50%) or more of the aggregate balance due from such account debtor to the Borrower (c) owed or payable by an account debtor other than the Government or a prime contractor under a contract with the Government with respect to which the Borrower is a subcontractor (including the Affiliates of such account debtor) whose accounts constitute more than 25% of the total accounts of the Borrower, to the extent of such excess; (d) owed or payable by an account debtor that is an Affiliate, stockholder or employee of the Borrower; (e) owing from any Person that is the subject of any (i) suit, lien, levy or judgment which could reasonably be expected to affect the collectability of said account(s), or (ii) bankruptcy, insolvency or similar process or proceeding; (f) accounts owing from foreign account debtors; (g) unbilled as a result of cost variances, retainage provisions, “milestone” requirements or any other reason, except for timing differences; (h) bonded; or (i) deemed ineligible by the Lender, in its reasonable discretion.

Ineligible Receivables means Receivables which are (i) evidenced by a promissory note or similar instrument; (ii) owed or payable by an Account Debtor pursuant to a Commercial Contract, if such Account Debtor is more than ninety (90) days past due from the date of original invoice in the payment of fifty percent (50%) or more of the aggregate balance due from such Account Debtor to the Borrower or any Guarantor, as applicable; (iii) owed or payable by an Account Debtor pursuant to a Government Contract, if such Account Debtor is more than one hundred twenty (120) days past due from the date of original invoice in the payment of fifty percent (50%) or more of the aggregate balance due under such Government Contract; (iv) owing from any person that is the subject of any (a) suit, lien, levy or judgment which could reasonably be expected to affect the collectibility of said account(s), or (b) bankruptcy, insolvency or a similar process or proceeding; (v) owing from foreign Account Debtors; (vi) unbilled as a result of rate variances or retainage provisions; (vii) bonded Receivables; (viii) final invoices more than ninety (90) days past due; (ix) not subject to a valid and enforceable first-priority, perfected security interest in favor of the Administrative Agent; (x) subject to any other lien or other encumbrance; (xi) consigned or otherwise assigned to any other Person for collection or otherwise; (xii) arising under a Government Contract that expressly prohibits assignment of claims under the Assignment of Claims Act of 1940, as amended.

Ineligible Receivables is defined in Section 2.04(d) of the Transfer and Servicing Agreement.