Eligible Receivables

Eligible Receivables. Means, as of the date of determination, Receivables (net of unearned interest and unearned discount or insurance premiums and commissions thereon) which are Chattel Paper, which conform to the warranties set forth in Section 4.1 hereof, in which WFFPC has a validly perfected first priority Lien, and which are not any of the following: (i) Receivables for which a payment is 90 or more days past due on a contractual basis; (ii) Receivables which have been deferred more than two times during the... same calendar year, or more than six times over the contract term; (iii) Receivables subject to foreclosure, repossession or bankruptcy proceedings or the account debtor with respect to which is a debtor under the Bankruptcy Code; (iv) Receivables from officers, employees or shareholders of the Borrower or any Affiliate; (v) Interest Only Accounts; (vi) Receivables missing titles after 120 days from their origination date; and (vii) Receivables which, in WFFPC's reasonable discretion, do not constitute acceptable collateral. View More

Eligible Receivables. Which arise form the sale and delivery of goods or services (other than the sale and delivery of turkey and turkey related products directly to third-party customers from any Excluded Turkey Plant) in the ordinary course of the applicable Originator's (including the applicable Transferor's) business;

Eligible Receivables. Receivables arising in the ordinary course of Borrower's business from the sale of goods or rendition of services, which Silicon, in its good-faith business judgment, shall deem eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate

Eligible Receivables. (x) if the Obligor is not an Obligor with a NAICS Code of 23812 (crane industry), which has under the related Contract not more than 84 Scheduled Payments, and (y) if the Obligor is an Obligor with a NAICS Code of 23812 (crane industry), which has under the related Contract not more than 90 Scheduled Payments;