Cross Aging Rule. Should any Account due Borrower from an Account Debtor have 50% (upon notice, such other percentage as Bank in its discretion shall determine) or more of their total aggregate Accounts aged in excess of the Eligibility Period, then all Accounts from such Account Debtor shall be deemed ineligible.
Appears in 2 contracts
Samples: Loan Agreement (Applied Optoelectronics, Inc.), Loan Agreement (Sand Hills, Inc)
Cross Aging Rule. Should any Account due Borrower from an Account Debtor have 50% (upon notice, such other percentage as Bank in its discretion shall determine) or more of their total aggregate Accounts aged in excess of the Eligibility Period, then all Accounts from such Account Debtor shall be deemed ineligible.
Appears in 2 contracts
Samples: Loan Agreement (Industrial Services of America Inc /Fl), Modification of Loan Agreement (Industrial Services of America Inc /Fl)
