Insured Receivable definition
Insured Receivable means each Receivable of an Obligor for which the Outstanding Balance (when aggregated with each other Receivables owing by such Obligor that was originated prior to such Receivable) is equal to or less than the then-effective maximum amount available for payments established for such Obligor for all claims relating to such Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided, that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance.
Insured Receivable means each Receivable of an Obligor for which the Outstanding Balance (when aggregated with each other Receivable owing by such Obligor that was originated prior to such Receivable) is less than or equal to the then-effective maximum amount available for payments established for such Obligor for all claims relating to such Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance; provided, further, that no Receivable shall constitute an Insured Receivable unless (a) such Receivable and the related Contract (pursuant to its express terms) is governed by the laws of the United States and (b) under such related Contract, the related Obligor expressly submits to the jurisdiction of the courts or binding arbitration body, in either case, in the United States for purposes of any litigation, arbitration or similar proceeding with respect to any dispute regarding such Receivable.
Insured Receivable means the Gross Invoice Value of any and every shipment despatched by a Client to any of the Approved Debtors at any time during the Period of Cover under this Agreement, irrespective of the amount of Credit Limit available on that Approved Debtor;
Examples of Insured Receivable in a sentence
For the avoidance of doubt, no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance.
Under such circumstances ECGC shall either cancel and nullify the assignment in favour of ECGC of the relevant Insured Receivable or shall reassign it back to the Insured.
ECGC shall have no liability to indemnify the Insured unless the proximate cause of loss is the occurrence of an Insured Risk covered under this Agreement and/or the right and interest of the Insured in the relevant Insured Receivable has been assigned and transferred by the Insured in favour of ECGC.
The Collection Agent shall also take such actions and provide such notices as are required pursuant to any Insurance Agreement in order to obtain payment thereunder with respect to any Insured Receivables as to which an Insured Receivable Default has occurred.
The Seller shall, and shall cause the Administrator to (i) maintain in full force and effect the Policy (ii) take all actions necessary to cause each Eligible Receivable to be an Insured Receivable at all times, and (iii) take all actions and execute all documents as the Agent may reasonably request in order to ensure that the Agent shall be loss payee under each of the Policy.
More Definitions of Insured Receivable
Insured Receivable means each Receivable for which the Obligor thereof is an Insured Obligor; provided, that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance.
Insured Receivable means a Receivable due from an Insured Obligor.
Insured Receivable means each Receivable of an Obligor for which the Outstanding Balance (when aggregated with each other Receivables owing by such Obligor that was originated prior to such Receivable) is equal to or less than the then-effective maximum amount available for payments established for such Obligor for all claims relating to such Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided, that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance; provided, further, that, no Receivable shall constitute an Insured Receivable unless (i) such Receivable and the related Contract (pursuant to its express terms) is governed by the laws of Australia, Singapore, Japan, the United States or England and Wales and (ii) under such related Contract, the related Obligor expressly submits to the jurisdiction of the courts or binding arbitration body, in either case, in Australia, Singapore, Japan, the United States or England and Wales for purposes of any litigation, arbitration or similar proceeding with respect to any dispute regarding such Receivable.
Insured Receivable means each Receivable of thean Insured Obligor for which the Outstanding Balance (when aggregated with each other Receivable owing by thesuch Insured Obligor that was originated prior to such Receivable) is equal to or less than the then-effective maximum amount available for payments established for thesuch Insured Obligor for all claims relating to the Insured Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided, that no Receivable shall constitute an Insured Receivable at any time the related Credit Insurance Policy shall cease to constitute an Eligible Credit Insurance. “Intended Tax Treatment” has the meaning set forth in Section 14.14. “International Trade Laws” means all Laws relating to economic and financial sanctions, trade embargoes, export controls, customs and anti-boycott measures. “Investment” means any funding of Capital to the Seller by a Purchaser pursuant to Sections 2.01(a), 2.02 or 2.06. “Investment Company Act” means the Investment Company Act of 1940, as amended or otherwise modified from time to time. “Investment Request” means a letter in substantially the form of Exhibit A hereto executed and delivered by the Seller to the Administrative Agent and the Group Agents pursuant to Section 2.02(a). “Law” means any law(s) (including common law), constitution, statute, treaty, regulation, rule, ordinance, opinion, release, ruling, order, executive order, injunction, writ, decree, bond, judgment, authorization or approval, lien or award, or any settlement arrangement, by agreement, consent or otherwise, of any Official Body, foreign or domestic. “LCR Security” means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent, under GAAP) within
Insured Receivable. Any Receivable now or hereafter owed to the Borrower or Star which satisfies all of the criteria set forth below to be a "Qualified Receivable" except that the relevant customer may be located inside or outside the United States; provided that such Receivable is insured by credit insurance in form and substance satisfactory to the Bank and issued by Eximbank or another insurer satisfactory to the Bank. In any event, "Insured Receivables" shall not be deemed to include any of the Qualified Receivables nor any of the L/C-Backed Foreign Receivables.
Insured Receivable means each Receivable of an Obligor for which the amount of the Outstanding Balance that is insured (when aggregated with the amount of each other Receivable owing by such Obligor that was originated prior to such Receivable and that is insured) is equal to or less than the then-effective maximum amount available for payments established for such Obligor for all claims relating to such Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided, that no Receivable shall constitute an Insured Receivable for purposes of clause (a) of the definition of “Excess Concentration” at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance.
Insured Receivable means that portion of any Receivable which is insured without deductible under the Policy.