Common use of Compliance with Eligibility Standards Clause in Contracts

Compliance with Eligibility Standards. Each Receivable included in the calculation of the Borrowing Base does and will at all times meet and comply with all of the standards for Eligible Receivables. With respect to those Receivable that the Agent has deemed Eligible Receivables (a) there are no facts, events or occurrences that in any way impair the validity, collectibility or enforceability thereof or tend to reduce the amount payable thereunder; and (b) there are no proceedings or actions known to the Borrower that are threatened or pending against any Account Debtor that might result in any material adverse change in the Borrowing Base.

Compliance with Eligibility Standards. Each Receivable Account included in the calculation of the Borrowing Base does and will at all times meet and comply with all of the standards for Eligible Receivables. With respect to those Receivable Accounts that the Agent Lender has deemed Eligible Receivables (a) there are no facts, events or occurrences that in any way impair the validity, collectibility or enforceability thereof or tend to reduce the amount payable thereunder; and (b) there are no proceedings or actions known to the any Borrower that which are threatened or pending against any Account Debtor that might result in any material adverse change in the Borrowing Base.

Compliance with Eligibility Standards. Each Receivable included in the calculation of the Borrowing Base does and will at all times meet and comply with all of the standards for Eligible Receivables. With respect to those Receivable Receivables that the Agent Lender has deemed Eligible Receivables (a) there are no facts, events or occurrences that in any way impair the validity, collectibility or enforceability thereof or tend to reduce the amount payable thereunder; and (b) there are no proceedings or actions known to the Borrower that are threatened or pending against any Account Debtor that might result in any material adverse change in the Borrowing Base.