Eligible Account

Example Definitions of "Eligible Account"
Eligible Account. Those Accounts of Borrowers arising from the sale of goods or services, which goods or services have actually been delivered to or provided and accepted by the Account Debtor and payment for such goods and services is owing, less those Accounts which: (i) remain unpaid more than ninety (90) days from the date of the original invoice that arises in the ordinary course of business; (ii) are disputed or otherwise subject to any return, setoff, credit allowance or adjustment by the Account Debtor;... (iii) arise as a result of an Intercompany Transaction; (iv) are Accounts owing by an Account Debtor that is known to, or believed to be by, Borrowers or Lender not to be Solvent; (v) are Accounts owed by an Account Debtor with its principal place of business outside of the continental United States of America; (vi) are Accounts owed by the United States of America or any other governmental or quasi-governmental unit, agency or subdivision unless the Borrowers shall have complied with all applicable federal and state assignment of claims laws, and Borrowers have provided Lender with written evidence satisfactory to Lender of such compliance; (vii) arise between any Borrower and any Affiliate or supplier of such Borrower; (viii) are owed by an Account Debtor with more than thirty percent (30%) of its original invoices remaining unpaid net of credits approved in writing by Lender more than ninety (90) days from the date of the original invoice; (ix) are subject to any Lien prior to the Lien of the Lender; or (x) are otherwise unacceptable to Lender exercising good credit judgment and with notice to Borrowers, all of the foregoing being subject to a valid first priority perfected security interest in favor of Lender View More
Eligible Account. The meaning set forth in the Loan Agreement
Eligible Account. An Account which is acceptable for purchase as determined by Purchaser in the exercise of its reasonable credit or business judgment.
Eligible Account. A Purchased Account that Purchaser, in its sole discretion, deems eligible for purchase under this Agreement.
Eligible Account. Means an identifiable account which is separate from all other funds held by the holding institution that is either (A) an account or accounts maintained with the corporate trust department of a federal or state-chartered depository institution or trust company which complies with the definition of Eligible Institution or (B) a segregated trust account or accounts maintained with the corporate trust department of a federal or state chartered depository institution or trust company acting in its... fiduciary capacity which, in the case of a state chartered depository institution or trust company is subject to regulations substantially similar to 12 C.F.R. ยง9.10(b), having in either case a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal and state authority. An Eligible Account will not be evidenced by a certificate of deposit, passbook or other instrument. View More
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