Eligible Receivable

Eligible Receivable. Means, (a) on the Initial Closing Date and on each Follow-On Closing Date prior to the September 2013 Closing Date, a Receivable (i) that is not a Delinquent Receivable and (ii) the Obligor of which is Investment Grade and (b) on the September 2013 Closing Date and on each Follow-On Closing Date thereafter, a Receivable that is not a Delinquent Receivable.

Eligible Receivable. Amended by (i) deleting the phrase ", to the extent required by the related Financing Agreement,", (ii) adding the phrase "unless any of the Financing Agreement, the credit approval for the related Receivable or the Seller's Credit and Collection Policies would not require a first priority perfected security interest in the related Product or other financed assets in connection with the related advance" after the words "the related advance" and (iii) adding a ")" before the final period in... clause (l). View More

Eligible Receivable. Clause (b)(iii) in the definition of "Eligible Receivable" in Section 1.1 of the Transfer and Administration Agreement is hereby amended to delete "Administrative Agent" and replace it with "Agent".

Eligible Receivable. Is a Receivable arising in the ordinary course of Borrower's business from the sale or lease of goods which have been delivered to and accepted by the Receivable Debtor

Eligible Receivable. Clause (g) of the definition of "Eligible Receivable" in Section 1.1 of the TAA is hereby amended and restated in its entirety to read as follows: "(g) which (i) together with the related Contract, is in full force and effect and constitutes the legal, valid and binding obligation of the related Obligor enforceable against such Obligor in accordance with its terms and (ii) is not subject to any asserted litigation, dispute, offset, holdback, counterclaim or other defense; provided that, with... respect to offsets and holdbacks included in the calculation of Offset Payable, (x) at any time Greif, Inc.'s corporate family rating is greater than or equal to "BB-" by S&P and "Ba3" by Moody's, such holdbacks and offsets shall not render all or any portion of such Receivable ineligible pursuant to this clause (g)(ii) and (y) at any time Greif, Inc.'s corporate family rating is below "BB-" by S&P or "Ba3" by Moody's, any Committed Investor may elect, in its sole discretion, which election shall be binding on each other Investor, to deem the portion of such Receivable that is the subject of such offset or holdback as ineligible pursuant to the terms of this clause (g)(ii);". View More