Initial Eligibility Date definition
Examples of Initial Eligibility Date in a sentence
The Credit Facility shall only be used by the Borrower to finance (i) the Financed Portion of the costs incurred on or after the Initial Eligibility Date by the Borrower (or the Guarantor on behalf of the Borrower) for the purchase of Goods and/or Services and (ii) the Exposure Fee payable on the Financed Portion.
For the purpose of determining whether costs are incurred on or after the Initial Eligibility Date, (a) costs with respect to Services shall be deemed to have been incurred on the date such Services were performed or provided as evidenced by the date of the invoices of the provider of such Services, and (b) costs with respect to Goods shall be deemed to have been incurred on the date the Goods were shipped, as evidenced by the date of the relevant bill of lading.