Placeholder Invoice definition

Placeholder Invoice is the estimated face value amount (as determined by Borrower, subject to Section 5.4 hereof) of an invoice for a receivable that will be generated (but has not yet been generated) pursuant to a purchase order signed by Solectron (for Cisco Systems, Inc. products), Mitsui/Fujitsu (for Hitachi products) or other Account Debtor acceptable to Bank, in its sole discretion, and approved on a case-by-case basis.
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Placeholder Invoice is, a written document that is prepared and delivered by Borrower to Bank requesting an Advance, based on, for each quarter, three (3) times the amount of the value (as determined by Borrower, subject to Section 6.2(H) hereof), of Borrower's recurring total monthly revenue (plus, without duplication, revenue from any contracts with the New York State Department of Labor) less professional services revenue, all as reviewed and approved by Bank."
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Placeholder Invoice is a "placeholder invoice" maintained on the books of the Bank with a face amount equal to 125% of the principal amount (at any time) of the Placeholder Advance outstanding.
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Examples of Placeholder Invoice in a sentence

  • With respect to Exim Inventory Placeholder Invoices, Borrower represents and warrants that all of Borrower’s Inventory which is the subject of any Exim Inventory Placeholder Invoice is and will continue to be Eligible Export-Related Inventory.

  • Bank may, in its sole discretion, change the percentage of the Advance Rate for a particular Exim Inventory Placeholder Invoice on a case by case basis.

  • With respect to Exim Inventory Placeholder Invoices, Borrower represents and warrants that all of Borrower's Inventory which is the subject of any Exim Inventory Placeholder Invoice is and will continue to be Eligible Export-Related Inventory.

  • Bank may, in its good faith business discretion, finance such Exim Inventory Placeholder Invoices by extending credit to Borrower in an amount equal to the result of the Advance Rate multiplied by the face amount of the Exim Inventory Placeholder Invoice.

  • Any Advance made based upon an Exim Inventory Placeholder Invoice shall be hereinafter referred to as an “Exim Inventory Advance”.

  • When Bank makes an Advance, the Eligible Foreign Account, Aggregate Eligible Foreign Accounts, or Exim Inventory Placeholder Invoice each become a separate “Financed Receivable”.

  • Bank shall finance such Eligible Accounts and Placeholder Invoices by extending credit to Borrower in an amount equal to the result of the Advance Rate multiplied by the face amount of the Eligible Account or Placeholder Invoice (the “Advance”).

  • In addition, Borrower represents and warrants that there are no discounts, offsets or other rights of any Account Debtor under any Placeholder Invoice other than as disclosed to Bank at the time such Placeholder Invoice was financed hereunder.

  • Bank is not obligated to finance any accounts receivable or the Placeholder Invoice.

  • Borrower will deliver an Advance Request and Invoice Transmittal in the form attached hereto as Exhibit C and an Export Order signed by a Responsible Officer for each Eligible Foreign Account, Aggregate Eligible Foreign Account, or Exim Inventory Placeholder Invoice it requests Bank to finance.

Related to Placeholder Invoice

  • Proper Invoice means a written request for Payment that is submitted by a Contractor setting forth the description, price or cost, and quantity of goods, property or services delivered or rendered, in such form, and supported by such other substantiating documentation, as NYSERDA may reasonably require, including but not limited to any requirements set forth in Exhibits A or B to this Agreement; and addressed to NYSERDA’s Controller, marked “Attention: Accounts Payable,” at the Designated Payment Office.

  • Eligible Unbilled Receivable means, at any time, any Unbilled Receivable if (a) the related Originator has recognized the related revenue on its financial books and records under GAAP, and (b) not more than thirty (30) days have expired since the date such Unbilled Receivable arose.

  • Valid Invoice means an invoice containing the detailed information set out in clause C2 (Payment and VAT).

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers’ business.

  • Unbilled Receivable means, at any time, any Receivable as to which the invoice or ▇▇▇▇ with respect thereto has not yet been sent to the Obligor thereof.