Eligible Accounts. Means, at any time, all of the Borrower's Accounts in which the Bank has a first priority continuing perfected Lien and which are earned and invoiced within thirty (30) days of being earned and which contain selling terms and conditions satisfactory to the Bank, are payable on ordinary trade terms, and are not evidenced by a promissory note, other instrument or chattel paper. The net amount of any Eligible Account against which the Borrower may borrow shall exclude all returns, discounts,
... credits, and offsets of any nature. Unless otherwise agreed to by the Bank in writing, Eligible Accounts do not include Accounts: (1) which are not owned by the Borrower free and clear of all Liens, constructive trust, statutory priorities not in favor of the Bank, and claims of Persons other than the Bank; (2) with respect to which the Account Debtor is an Affiliate of the Borrower or otherwise affiliated with or related to the Borrower, including without limitation, any employee, officer, director, Equity Owner or agent of the Borrower; (3) with respect to which goods are placed on consignment, guaranteed sale, bill-and-hold, sale-and-return, sale on approval, cash-on-delivery or other terms by reason of which the payment by the Account Debtor may be conditional; (4) with respect to which the Account Debtor is not a resident of the United States, except to the extent such Accounts are otherwise Eligible Accounts and are supported by insurance, bonds or other assurances satisfactory to the Bank; (5) subject to the U.S. Office of Foreign Asset Control Special Designated Nationals and Blocked Person's List, or with respect to which the Account Debtor is otherwise a Person with whom the Borrower or the Bank is prohibited from doing business by any applicable Legal Requirement; (6) which are not payable in U.S. Dollars; (7) with respect to which the Borrower is or may become liable to the Account Debtor for goods sold or services rendered by the Account Debtor to the Borrower; (8) which are subject to dispute, counterclaim, deduction, withholding, defense, or setoff; (9) with respect to which the goods have not been shipped or delivered, or the services have not been rendered, to the Account Debtor, or which otherwise constitute pre-billed Accounts; (10) which constitute retainage, or are bonded Accounts; (11) with respect to which the Bank determines the creditworthiness, financial or business condition of the Account Debtor to be unsatisfactory; (12) of any Account Debtor who is the subject of any state or federal bankruptcy, insolvency, or debtor-in-relief acts, or who has had appointed a trustee, custodian, or receiver for the assets of such Account Debtor, or who has made an assignment for the benefit of creditors or has become insolvent or fails generally to pay its debts (including its payrolls) as such debts become due; (13) with respect to which the Account Debtor is the United States government or any department or agency of the United States; (14) otherwise determined to be ineligible by the Bank (15) which have not been paid in full within ninety (90) days from the due date; and (16) due from any one Account Debtor to the extent such Accounts constitute more than 15% of all Eligible Accounts. In no event will the balance of any Account of any single Account Debtor be eligible whenever the portion of the Accounts of such Account Debtor which have not been paid within ninety (90) days from the fur date is in excess of 20% of the total amount outstanding on all Accounts of such Account Debtor.
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Eligible Accounts.
Means, at At any time, all of the Borrower's Accounts in which the Bank has a first priority continuing perfected Lien and which are
earned earned, delivered or shipped and invoiced within thirty (30) days of being earned and which contain selling terms and conditions satisfactory to the Bank,
are payable on ordinary trade terms, and are not evidenced by a promissory
note, note or other instrument or chattel paper. The net amount of any Eligible Account against which the Borrower may borrow
... shall exclude all returns, discounts, credits, and offsets of any nature. Unless otherwise agreed to by the Bank in writing, Eligible Accounts do not include Accounts: (1) which are not owned by the Borrower free and clear of all Liens, constructive trust, statutory priorities not in favor of the Bank, and claims of Persons other than the Bank; (2) with respect to which when the Account Debtor is an Affiliate of the Borrower or otherwise affiliated with or related to the Borrower, including without limitation, any employee, officer, director, Equity Owner or agent of the Borrower; (3) with respect to which goods are placed on consignment, guaranteed sale, bill-and-hold, sale-and-return, sale on approval, cash-on-delivery or other terms by reason of which the payment by the Account Debtor may be conditional; (4) with respect to which when the Account Debtor is not a resident of the United States, except to States or Canada, or the extent such Accounts are otherwise Eligible Accounts and are supported by insurance, bonds or other assurances satisfactory to the Bank; (5) account is not payable in U.S. Dollars; (4) subject to the U.S. Office of Foreign Asset Control Special Designated Nationals and Blocked Person's List, or with respect to which when the Account Debtor is otherwise a Person with whom the Borrower or the Bank is prohibited from doing business by any applicable Legal Requirement; (6) which are not payable in U.S. Dollars; (7) with respect to which the Borrower is or may become liable to the Account Debtor for goods sold or services rendered by the Account Debtor to the Borrower; (8) which are subject to dispute, counterclaim, deduction, withholding, defense, or setoff; (9) with respect to which the goods have not been shipped or delivered, or the services have not been rendered, to the Account Debtor, or which otherwise constitute pre-billed Accounts; (10) which constitute retainage, or are bonded Accounts; (11) with respect to which (5) when the Bank determines the creditworthiness, financial or business condition of the Account Debtor to be unsatisfactory; (12) of unsatisfactory, including but not limited to any bankrupt Account Debtor who is the subject of any state or federal bankruptcy, insolvency, or debtor-in-relief acts, or who has had appointed a trustee, custodian, or receiver for the assets of such Account Debtor, or who has made an assignment for the benefit of creditors or has become insolvent or fails generally to pay its debts (including its payrolls) as such debts become due; (13) with respect to which Debtor; (6) when the Account Debtor is the United States government or any department or agency of the United States; (14) States (unless, with the Bank's consent, the Assignment of Claims Act has been fully complied with); (7) otherwise determined to be ineligible by the Bank (15) Bank; and (8) which have not been paid in full within ninety (90) days from the due date; and (16) due from any one Account Debtor to the extent such Accounts constitute more than 15% of all Eligible Accounts. In no event will the balance of any Account of any single Account Debtor be eligible whenever the portion of the Accounts of such Account Debtor which have not been paid within ninety (90) days from the fur date is in excess of 20% of the total amount outstanding on all Accounts of such Account Debtor. invoice date.
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Eligible Accounts.
Means, at any time, all of the Borrower's
Accounts in which the Bank has a first priority continuing perfected Lien and
which are earned and invoiced within thirty (30) days of being earned and which contain selling terms and conditions satisfactory to the Bank, are payable on ordinary trade terms, and are not evidenced by a promissory note, other instrument or chattel paper. CRG's Accounts. The net amount of any Eligible Account against which the Borrower may borrow shall exclude all returns,
... discounts, credits, and offsets of any nature. Unless otherwise agreed to by the Bank in writing, Eligible Accounts do not include Accounts: (1) with respect to which are not owned by the Account Debtor is an employee or agent of the Borrower free and clear of all Liens, constructive trust, statutory priorities not in favor of the Bank, and claims of Persons other than the Bank; or CRG; (2) with respect to which the Account Debtor is an Affiliate of the Borrower or otherwise affiliated with or related to the Borrower, including without limitation, any employee, officer, director, Equity Owner Borrower or agent of the Borrower; CRG; (3) with respect to which goods are placed on consignment, guaranteed sale, bill-and-hold, sale-and-return, sale on approval, cash-on-delivery or other terms by reason of which the payment by the Account Debtor may be conditional; (4) with respect to which the Account Debtor is not a resident of the United States, except to the extent such Accounts are otherwise Eligible Accounts and are supported by insurance, bonds or other assurances satisfactory to the Bank; (5) subject to the U.S. Office of Foreign Asset Control Special Designated Nationals and Blocked Person's List, or with respect to which the Account Debtor is otherwise a Person with whom the Borrower or the Bank is prohibited from doing business by any applicable Legal Requirement; (6) which are not payable in U.S. Dollars; (7) with respect to which the Borrower or CRG is or may become liable to the Account Debtor for goods sold or services rendered by the Account Debtor to the Borrower; (8) Borrower or CRG; (6) which are subject to dispute, counterclaim, deduction, withholding, defense, or setoff; (9) (7) with respect to which the goods have not been shipped or delivered, or the services have not been rendered, to the Account Debtor, or which otherwise constitute pre-billed Accounts; (10) which constitute retainage, or are bonded Accounts; (11) Debtor; (8) with respect to which the Bank determines Bank, in its sole discretion, deems the creditworthiness, creditworthiness or financial or business condition of the Account Debtor to be unsatisfactory; (12) (9) of any Account Debtor who is the subject has filed or has had filed against it a petition in bankruptcy or an application for relief under any provision of any state or federal bankruptcy, insolvency, or debtor-in-relief acts, acts; or who has had appointed a trustee, custodian, or receiver for the assets of such Account Debtor, Debtor; or who has made an assignment for the benefit of creditors or has become insolvent or fails generally to pay its debts (including its payrolls) as such debts become due; (13) (10) with respect to which the Account Debtor is the United States government or any department or agency of the United States; (14) otherwise determined to be ineligible by the Bank (15) (11) which have not been paid in full within ninety (90) sixty (60) days from the due invoice date; and (16) (12) which are in the nature of rebates due from any one Account Debtor vendors and suppliers of parts and other inventory purchased by the Borrower or CRG; and (13) which may be subject to the extent such Accounts constitute more than 15% of all Eligible Accounts. year end adjustments. In no event will the balance of any Account of any single Account Debtor be eligible whenever the portion of the Accounts of such Account Debtor which have has not been paid within ninety (90) sixty (60) days from the fur invoice date is in excess of 20% 25% of the total amount outstanding on all Accounts of such Account Debtor. the Account.
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Eligible Accounts.
Means, means, at any time, all of the Borrower's Accounts in which the Bank has a first priority continuing perfected Lien and which are
earned earned, delivered or shipped and invoiced within thirty (30) days of being earned and which contain selling terms and conditions satisfactory to the Bank,
are payable on ordinary trade terms, and are not evidenced by a promissory
note, note or other instrument or chattel paper. The net amount of any Eligible Account against which the Borrower may borrow
... shall exclude all returns, discounts, credits, and offsets of any nature. Unless otherwise agreed to by the Bank in writing, Eligible Accounts do not include Accounts: (1) which are not owned by the Borrower free and clear of all Liens, constructive trust, statutory priorities not in favor of the Bank, and claims of Persons other than the Bank; (2) with respect to which when the Account Debtor is an Affiliate of the Borrower or otherwise affiliated with or related to the Borrower, including without limitation, any employee, officer, director, Equity Owner or agent of the Borrower; (3) with respect to which goods are placed on consignment, guaranteed sale, bill-and-hold, sale-and-return, sale on approval, cash-on-delivery or other terms by reason of which the payment by the Account Debtor may be conditional; (4) with respect to which when the Account Debtor is not a resident of the United States, except to States or Canada, or the extent such Accounts are otherwise Eligible Accounts and are supported by insurance, bonds or other assurances satisfactory to the Bank; (5) account is not payable in U.S. Dollars; (4) subject to the U.S. Office of Foreign Asset Control Special Designated Nationals and Blocked Person's List, or with respect to which when the Account Debtor is otherwise a Person with whom the Borrower or the Bank is prohibited from doing business by any applicable Legal Requirement; (6) which are not payable in U.S. Dollars; (7) with respect to which the Borrower is or may become liable to the Account Debtor for goods sold or services rendered by the Account Debtor to the Borrower; (8) which are subject to dispute, counterclaim, deduction, withholding, defense, or setoff; (9) with respect to which the goods have not been shipped or delivered, or the services have not been rendered, to the Account Debtor, or which otherwise constitute pre-billed Accounts; (10) which constitute retainage, or are bonded Accounts; (11) with respect to which (5) when the Bank determines the creditworthiness, financial or business condition of the Account Debtor to be unsatisfactory; (12) of unsatisfactory, including but not limited to any bankrupt Account Debtor who is the subject of any state or federal bankruptcy, insolvency, or debtor-in-relief acts, or who has had appointed a trustee, custodian, or receiver for the assets of such Account Debtor, or who has made an assignment for the benefit of creditors or has become insolvent or fails generally to pay its debts (including its payrolls) as such debts become due; (13) with respect to which the Account Debtor is the United States government or any department or agency of the United States; (14) Debtor; (6) otherwise determined to be ineligible by the Bank (15) Bank; (7) which have not been paid in full within ninety (90) days from the due invoice date; and (16) (8) due from any one Account Debtor to the extent such Accounts constitute more than 15% 25% of all Eligible Accounts. Eligible Government Accounts are deemed Eligible Accounts; provided, however, that the Bank may from time to time condition such eligibility on the Bank's receipt of evidence that the Borrower has assigned its payment rights to the Bank, the assignment has been acknowledged under the Assignment of Claims Act or similar State law if applicable, and the Assignment of Claims Act or similar State law if applicable has been fully complied with. For purposes of this definition, the term "Eligible Government Accounts" means all of Borrower's Accounts when the Account Debtor is the United States government or any State government or any department or agency of the United States or any State and which Accounts otherwise in all respects satisfy the other requirements of the definition of Eligible Accounts. In no event will the balance of any Account of any single Account Debtor be eligible whenever the portion of the Accounts of such Account Debtor which have not been paid within ninety (90) days from the fur invoice date is in excess of 20% of the total amount outstanding on all Accounts of such Account Debtor.
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Eligible Accounts.
Means, means, at any time, all of the Borrower's Accounts
in which the Bank has a first priority continuing perfected Lien and which are earned and invoiced within thirty (30) days of being earned and which contain selling terms and conditions
satisfactory acceptable to the
Bank, are payable on ordinary trade terms, and are not evidenced by a promissory note, other instrument or chattel paper. Bank. The net amount of any Eligible Account against which the Borrower may borrow shall exclude all
... returns, discounts, credits, and offsets of any nature. Unless otherwise agreed to by the Bank in writing, Eligible Accounts do not include Accounts: (1) with respect to which are not owned by the Borrower free and clear of all Liens, constructive trust, statutory priorities not in favor Account Debtor is an employee or agent of the Bank, and claims of Persons other than the Bank; Borrower; (2) with respect to which the Account Debtor is an Affiliate of the Borrower or otherwise affiliated with or related to the Borrower, including without limitation, any employee, officer, director, Equity Owner or agent of the Borrower; (3) with respect to which goods are placed on consignment, guaranteed sale, bill-and-hold, sale-and-return, sale on approval, cash-on-delivery or other terms by reason of which the payment by the Account Debtor may be conditional; (4) with respect to which the Account Debtor is not a resident of the United States, except to the extent such Accounts are otherwise Eligible Accounts and are supported by insurance, bonds or other assurances satisfactory to the Bank; (5) subject to the U.S. Office of Foreign Asset Control Special Designated Nationals and Blocked Person's List, or with respect to which the Account Debtor is otherwise a Person with whom the Borrower or the Bank is prohibited from doing business by any applicable Legal Requirement; (6) which are not payable in U.S. Dollars; (7) with respect to which the Borrower is or may become liable to the Account Debtor for goods sold or services rendered by the Account Debtor to the Borrower; (8) (6) which are subject to dispute, counterclaim, deduction, withholding, defense, or setoff; (9) (7) with respect to which the goods have not been shipped or delivered, or the services have not been rendered, to the Account Debtor, or which otherwise constitute pre-billed Accounts; (10) which constitute retainage, or are bonded Accounts; (11) Debtor; (8) with respect to which the Bank determines Bank, in its sole discretion, deems the creditworthiness, creditworthiness or financial or business condition of the Account Debtor to be unsatisfactory; (12) (9) of any Account Debtor who is the subject has filed or has had filed against it a petition in bankruptcy or an application for relief under any provision of any state or federal bankruptcy, insolvency, or debtor-in-relief acts, acts; or who has had appointed a trustee, custodian, or receiver for the assets of such Account Debtor, Debtor; or who has made an assignment for the benefit of creditors or has become insolvent or fails generally to pay its debts (including its payrolls) as such debts become due; (13) (10) with respect to which the Account Debtor is the United States government or any department or agency of the United States; (14) otherwise determined to be ineligible by the Bank (15) (11) which have not been paid in full within ninety (90) days from the due invoice date; and (16) (12) due from any one Account Debtor to the extent such Accounts constitute more than 15% 25% of all Eligible Accounts. In no event will the balance of any Account of any single Account Debtor be eligible whenever the portion of the Accounts of such Account Debtor which have has not been paid within ninety (90) days from the fur invoice date is in excess of 20% 10% of the total amount outstanding on all Accounts of such Account Debtor. the Account.
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Eligible Accounts.
Means, means, at any time, all of the Borrower's Accounts
in which the Bank has a first priority continuing perfected Lien and which are earned and invoiced within thirty (30) days of being earned and which contain selling terms and conditions
satisfactory acceptable to the Bank, are payable on ordinary trade terms, and are not evidenced by a promissory
note, other instrument note or chattel
paper. paper The net amount of any Eligible Account against which the Borrower may borrow shall exclude
... all returns, discounts, credits, and offsets of any nature. nature Unless otherwise agreed to by the Bank in writing, Eligible Accounts do not include Accounts: Accounts (1) which are not owned by the Borrower free and clear of all Liens, constructive trust, statutory priorities not in favor of the Bank, security interests, liens, encumbrances, and claims of Persons other than third parties, except the Bank; (2) with respect to which the Account Debtor is an Affiliate employee or agent of the Borrower or otherwise Borrower; (3) with respect to which the Account Debtor is affiliated with or related to the Borrower, including without limitation, any employee, officer, director, Equity Owner or agent of the Borrower; (3) (4) with respect to which goods are placed on consignment, guaranteed sale, bill-and-hold, sale-and-return, sale on approval, cash-on-delivery or other terms by reason of which the payment by the Account Debtor may be conditional; (4) (5) with respect to which the Account Debtor is not a resident of the United States, except to the extent such Accounts are otherwise Eligible Accounts and are supported by insurance, bonds or other assurances satisfactory to the Bank; (5) (6) subject to the U.S. US Office of Foreign Asset Control Special Designated Nationals and Blocked Person's List, or with respect to which the Account Debtor is otherwise a Person person or entity with whom the Borrower or the Bank is prohibited from doing business by any applicable Legal Requirement; (6) law, regulation, executive order or other legal directive; (7) which are not payable in U.S. US Dollars; (7) (8) with respect to which the Borrower is or may become liable to the Account Debtor for goods sold or services rendered by the Account Debtor to the Borrower; (8) (9) which are subject to dispute, counterclaim, deduction, withholding, defense, or setoff; (9) (10) with respect to which the goods have not been shipped or delivered, or the services have not been rendered, to the Account Debtor, or which otherwise constitute pre-billed Accounts; (10) (11) which constitute retainage, or are bonded Accounts; (11) with respect to which the Bank determines the creditworthiness, financial or business condition of the Account Debtor to be unsatisfactory; (12) of any Account Debtor who is the subject has filed or has had filed against it a petition in bankruptcy or an application for relief under any provision of any state or federal bankruptcy, insolvency, or debtor-in-relief acts, acts; or who has had appointed a trustee, custodian, or receiver for the assets of such Account Debtor, Debtor; or who 2 has made an assignment for the benefit of creditors or has become insolvent or fails generally to pay its debts (including its payrolls) as such debts become due; (13) with respect to which the Account Debtor is the United States government or any department or agency of the United States; States, (14) otherwise determined to be ineligible by the Bank (15) which have not been paid in full within ninety (90) sixty (60) days from the due date; date (as stated on the invoice); and (16) (15) due from any one Account Debtor to the extent such Accounts constitute more than 15% 30% of all Eligible Accounts. In no event will the balance of any Account of any single Account Debtor be eligible whenever the portion of the Accounts of such Account Debtor which have not been paid within ninety (90) sixty (60) days from the fur due date (as stated on the invoice) is in excess of 20% 50% of the total amount outstanding on all Accounts of such Account Debtor.
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