Eligible Accounts.
Are are Accounts in the ordinary course of Borrower's business that meet all Borrower's representations and warranties in Section 5; but Bank may change eligibility standards by giving Borrower notice. Unless Bank agrees otherwise in writing, Eligible Accounts will not include: (a) Accounts that the account debtor has not paid within 90 days of invoice date;
17 16 (b) Accounts for an account debtor, 50% or more of whose Accounts have not been paid within 90 days of invoice date; (c) Credit
... balances over 90 days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower exceed 25% of all Accounts, for the amounts that exceed that percentage; percentage, provided however, that the Bank may consider modifying the foregoing percentage for Accounts relating to Gulf Power Company as account debtor with the understanding that any decision by Bank in that regard to so modify such percentage shall be in the Bank's sole discretion and Bank has made no commitment to do so; (e) Accounts for which the account debtor does not have its principal place of business in the United States; States unless (i) approved by Bank in writing or (ii) supported by foreign credit insurance or a letter of credit in form and substance acceptable to Bank, in each case as is acceptable to Bank in its sole discretion; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; instrumentality unless there has been compliance with the United States Assignment of Claims Act as Bank shall reasonably determine; (g) Accounts for which Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and business;. (k) Accounts for which Bank reasonably determines collection to be doubtful.
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Eligible Accounts.
Are are billed Accounts in the ordinary course of Borrower's business that meet all Borrower's representations and warranties in Section
5; 5.2; but Bank may change eligibility standards by giving Borrower
thirty (30) days prior written notice. Unless Bank agrees otherwise in writing, Eligible Accounts
will shall not include: (a) Accounts that the account debtor has not paid within
90 ninety (90) days of invoice date;
17 (b) Accounts for an account debtor,
50% fifty percent (50%) or more of
... whose Accounts have not been paid within 90 ninety (90) days of invoice date; (c) Credit balances over 90 ninety (90) days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower exceed 25% twenty-five (25%) of all Accounts, for the amounts that exceed that percentage; percentage, unless Bank approves in writing; (e) Accounts for which the account debtor does not have its principal place of business in the United States; States except for Eligible Foreign Accounts; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; instrumentality thereof; (g) Accounts for which Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and (k) Accounts for which Bank reasonably determines after inquiry and consultation with Borrower collection to be doubtful. 15
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Eligible Accounts.
Are are Accounts in the ordinary course of Borrower's business that meet all Borrower's representations and warranties in
Section 5; this Agreement; but Bank may change eligibility standards by giving Borrower notice. Unless Bank agrees otherwise in writing, Eligible Accounts will not include: (a) Accounts that the account debtor has not paid within 90 days of invoice date;
17 (b) Accounts for an account debtor, 50% or more of whose Accounts have not been paid within 90 days of invoice date;
... (c) Credit balances over 90 days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower exceed 25% of all Accounts, for the amounts that exceed that percentage; percentage, unless the Bank approves in writing; (e) Accounts for which the account debtor does not have its principal place of business in the United States; States, provided that each of Fresenius Medical Care AG, B. Braun Melsungen, B. Braun Celsa SA, AG, Kobayashi and Teva will be considered Eligible Accounts regardless of such debtor's principal place of business outside of the United States if any such Accounts otherwise satisfy the eligibility standards hereunder and as long as Bank continues to determine that such account debtors are acceptable to Bank, as Bank will from time to time evaluate, in light of such debtor's foreign domicile; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; instrumentality, excluding hospitals owned by federal, state, or local governments; (g) Accounts for which Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; 16 (i) Accounts for which the account debtor is Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and (k) Accounts for which Bank reasonably determines collection to be doubtful.
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Eligible Accounts.
Are are billed Accounts in the ordinary course of Borrower's business that meet all Borrower's representations and warranties in Section
5; 5.2; but Bank may change eligibility standards by giving Borrower notice. Unless Bank agrees otherwise in writing, Eligible Accounts
will shall not include:
(a) Accounts that the account debtor has not paid within
90 ninety (90) days of invoice date;
17 (b) Accounts for an account debtor,
50% fifty percent (50%) or more of whose Accounts have not been paid
... within 90 ninety (90) days of invoice date; (c) Credit balances over 90 ninety (90) days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower exceed 25% twenty-five (25%) of all Accounts, for the amounts that exceed that percentage; (e) percentage, unless Bank approves in writing; Accounts for which the account debtor does not have its principal place of business in the United States; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; (g) instrumentality thereof; Accounts for which Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and (k) Accounts for which Bank reasonably determines after reasonable inquiry and reasonable consultation with Borrower collection to be doubtful. doubtful by reason of the account debtor's financial condition.
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Eligible Accounts.
Are are Accounts in the ordinary course of
a Borrower's business that meet all
of each Borrower's representations and warranties in Section 5; but Bank may change eligibility standards by giving
Borrower Company prior written notice. Unless Bank agrees otherwise in writing, Eligible Accounts will not include: (a) Accounts that the account debtor has not paid within 90 days of invoice date;
17 (b) Accounts for an account debtor, 50% or more of whose Accounts have not been paid within 90 days of
... invoice date; (c) Credit balances over 90 days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower Borrowers exceed 25% of all Accounts, for the amounts that exceed that percentage; percentage, unless the Bank approves in writing except for those certain Accounts from SBC Communications Inc., MCI, Inc., Sprint Corporation, Verizon Communications Inc., AT&T Corp., for which the percentage may be 35%; (e) Accounts for which the account debtor does not have its principal place of business in the United States; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; instrumentality except for Accounts of the United States if the payee has assigned its payment rights to Bank and the assignment has been acknowledged under the Assignment of Claims Act of 1940 (31 U.S.C. 3727); (g) Accounts for which any Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is a Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and (k) Accounts for which Bank reasonably determines collection to be doubtful.
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Eligible Accounts.
Are are Accounts in the ordinary course of Borrower's business that meet all Borrower's representations and warranties in Section 5; but Bank may change eligibility standards by giving Borrower notice. Unless Bank agrees otherwise in writing, Eligible Accounts will not include: (a) Accounts that the account debtor has not paid within 90 days of invoice date;
17 13 (b) Accounts for an account debtor, 50% or more of whose Accounts have not been paid within 90 days of invoice date; (c) Credit
... balances over 90 days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower exceed 25% of all Accounts, Accounts (other than Bayer CropScience AG, whose total obligations to Borrower may not exceed 50% of all Accounts), in each case for the amounts that exceed that percentage; percentage, unless the Bank approves in writing; (e) Accounts for which the account debtor does not have its principal place of business in the United States; States, provided, however that Accounts from DNA Landmarks shall not be excluded on the basis of this provision; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; instrumentality, unless assigned to Bank in compliance with the Federal Assignment of Claims Act of 1940; (g) Accounts for which Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and (k) Accounts for which Bank reasonably determines collection to be doubtful.
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Eligible Accounts.
Are are billed Accounts in the ordinary course of Borrower's business that meet all Borrower's representations and warranties in Section
5; 5.2; but Bank may change eligibility standards by giving Borrower
thirty (30) days prior written notice. Unless Bank agrees otherwise in writing, Eligible Accounts
will shall not include: (a) Accounts that the account debtor has not paid within
90 ninety (90) days of invoice date;
17 (b) Accounts for an account debtor,
50% fifty percent (50%) or more of
... whose Accounts have not been paid within 90 ninety (90) days of invoice date; (c) Credit balances over 90 ninety (90) days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower exceed 25% twenty-five (25%) of all Accounts, for the amounts that exceed that percentage; percentage, unless Bank approves in writing; (e) Accounts for which the account debtor does not have its principal place of business in the United States; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; instrumentality thereof; (g) Accounts for which Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and (k) Accounts for which Bank reasonably determines collection to be doubtful.
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Eligible Accounts.
Are are Accounts in the ordinary course of Borrower's business that
meet all Borrower's representations are bona fide, existing obligations, and
warranties in Section 5; the service or property has been performed or delivered to the account debtor or its agent for immediate shipment to and unconditional acceptance by the account debtor; and Borrower has no notice of any actual or imminent Insolvency Proceeding of any account debtor whose accounts are an Eligible Account; but Bank may change
... eligibility standards by giving Borrower 30 days prior written notice. Unless Bank agrees otherwise in writing, Eligible Accounts will not include: (a) Accounts that the account debtor has not paid within 90 days of invoice date; 17 (b) Accounts for an account debtor, 50% or more of whose Accounts have not been paid within 90 days of invoice date; (c) Credit balances over 90 days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower exceed 25% of all Accounts, for the amounts that exceed that percentage; unless Bank approves in writing; (e) Accounts for which the account debtor does not have its principal place of business in the United States; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; (g) Accounts for which Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); 12 (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and or (k) Accounts for which Bank reasonably determines collection to be doubtful.
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Eligible Accounts.
Are are Accounts in the ordinary course of Borrower's business that meet all Borrower's representations and warranties in Section
5; 5.2; but Bank may change eligibility standards by giving Borrower notice. Unless Bank agrees otherwise in writing, Eligible Accounts will not include: (a) Accounts that the account debtor has not paid within 90 days of invoice date;
17 (b) Accounts for an account debtor, 50% or more of whose Accounts have not been paid within 90 days of invoice date; (c) Credit
... balances over 90 days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower exceed 25% of all Accounts, for the amounts that exceed that percentage; percentage, unless the Bank approves in writing; -16- (e) Accounts for which the account debtor does not have its principal place of business in the United States; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; instrumentality, other than for account debtor consisting of a hospital, as long as the Bank is able to perfect its Lien therein through the filing of a UCC-1 financing statement in the appropriate governmental filing office, provided Bank reserves the right to make an Assignment of Claims filing, or other equivalent filing under any other applicable filing or registration scheme, which Bank in its discretion may do; (g) Accounts for which Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and (k) Accounts for which Bank reasonably determines collection to be doubtful.
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Eligible Accounts.
Are are Accounts in the ordinary course of
a Borrower's business that meet all
Borrower's Borrowers' representations and warranties in Section 5; but Bank may change eligibility standards by giving
Borrower Borrowers written notice. Unless Bank agrees otherwise in writing, Eligible Accounts will not include: (a) Accounts that the account debtor has not paid within 90 days of invoice date;
17 (b) Accounts for an account debtor, 50% or more of whose Accounts have not been paid within 90 days of
... invoice date; (c) Credit balances over 90 days from invoice date; (d) Accounts for an account debtor, including Affiliates, whose total obligations to Borrower Borrowers exceed 25% of all Accounts, for the amounts that exceed that percentage; percentage, unless the Bank approves in writing; (e) Accounts for which the account debtor does not have its principal place of business in the United States; (f) Accounts for which the account debtor is a federal, state or local government entity or any department, agency, or instrumentality; (g) Accounts for which any Borrower owes the account debtor, but only up to the amount owed (sometimes called "contra" accounts, accounts payable, customer deposits or credit accounts); (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, sales guaranteed, sale or return, sale on approval, bill and hold, or other terms if account debtor's payment may be conditional; (i) Accounts for which the account debtor is any Borrower's Affiliate, officer, employee, or agent; (j) Accounts in which the account debtor disputes liability or makes any claim or and Bank believes there may be a basis for dispute (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; and (k) Accounts arising from patient co-pay arrangements to the extent all such Accounts arising from patient co-pay arrangements exceed 5% of the Borrowing Base; (l) Accounts for which Bank reasonably determines collection to be doubtful.
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