EXIM Export-Related Overseas Receivables

Example Definitions of "EXIM Export-Related Overseas Receivables"
EXIM Export-Related Overseas Receivables. Those Accounts due to a foreign Subsidiary or Affiliate of Borrower located outside of the United States which would otherwise qualify as EXIM Eligible Foreign Accounts provided that: (a) Such Account is due and payable to a foreign Subsidiary or Affiliate of Borrower that is a party to the Loan Documents and approved by EXIM Bank in writing; (b) Such Accounts are derived from eligible exports originating from the United States; (c) All proceeds from such Accounts are collected through a cash... collateral account and remitted to the United States on a monthly basis; (d) Bank obtains a valid first priority security interest (or equivalent thereof) in the Accounts in the jurisdiction where the Accounts are located; (e) Bank obtains a legal opinion from local counsel with regard to the enforceability of such security interest and the procedures that EXIM Bank would have to take to foreclose and liquidate such Accounts; and (f) Such Accounts are payable in Dollars or in other currencies approved by EXIM Bank in writing View More
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