Eligible Accounts and Inventory. Promptly upon becoming aware thereof, notify Lender if any Account or Inventory identified by Borrower to Lender as an Eligible Account or Eligible Inventory becomes ineligible for any reason.
Eligible Accounts and Inventory. Promptly upon becoming aware thereof, notify Administrative Agent if any Account or Inventory identified by Borrower to Administrative Agent as an Eligible Account or Eligible Inventory becomes ineligible for any reason.
Eligible Accounts and Inventory. Promptly upon becoming aware thereof, notify Agent if any Account or Inventory identified by such Borrower (or by Borrowing Agent) to Agent as an Eligible Account or Eligible Inventory becomes ineligible for any reason.
Eligible Accounts and Inventory. Notify Agent if any Account or Inventory identified by such Borrower to Agent as an Eligible Account or Eligible Spare Parts Inventory becomes ineligible for any reason by submitting the borrowing base report, or promptly upon becoming aware thereof if the aggregate of Eligible Accounts or Eligible Spare Inventory not yet reported as ineligible exceed $100,000 at any time.
Eligible Accounts and Inventory. (a) Based on the most recent Borrowing Base Certificate delivered by Borrower to the Agent and on other information available to the Agent, the Agent shall determine in accordance with SCHEDULE 1.5(a) which Accounts of Borrower shall be deemed to be "ELIGIBLE ACCOUNTS" for purposes of determining the maximum amount of the Revolving Credit Loans or Letter of Credit Obligations, if any, to be advanced or incurred by the Lenders and/or the Agent hereunder. In determining whether a particular Account constitutes an Eligible Account, the Agent shall not be required to include any such Account which does not meet the criteria set forth on SCHEDULE 1.5(a).
(b) Based on the most recent Borrowing Base Certificate delivered by Borrower to the Agent and on other information available to the Agent, the Agent shall determine in accordance with SCHEDULE 1.5(b) which Inventory of Borrower shall be deemed to be "ELIGIBLE INVENTORY" for purposes of determining the maximum amount of the Revolving Credit Loans or the Letter of Credit Obligations, if any, to be advanced or incurred by the Lenders and/or the Agent hereunder. In determining whether any particular item of Inventory constitutes Eligible Inventory, the Agent shall not be required to include any such Inventory which does not meet the criteria set forth on SCHEDULE 1.5(b).
Eligible Accounts and Inventory. Promptly upon becoming aware thereof, if any Account or Inventory identified by Borrower to Lender as an Eligible Account or Eligible Inventory becomes ineligible for any reason to the extent (i) representing in excess of ten percent (10%) of Eligible Accounts or Eligible Inventory, as applicable, or (ii) Availability is less than $500,000.
Eligible Accounts and Inventory. Promptly upon becoming aware ------------------------------- thereof, notify Agent if any Account or Inventory identified by Borrower to Agent as an Eligible Account or Eligible Inventory becomes ineligible for any reason.
Eligible Accounts and Inventory. The parties hereto acknowledge and agree that any Accounts and Inventory acquired in connection with the Redhawk Acquisition shall not be included in the Borrowing Base until such time as (A) such Accounts and Inventory, as the case may be, satisfy the criteria of Eligible Accounts and Eligible Inventory, as applicable, as set forth in the definitions of such terms on Schedule 1.1 to the Credit Agreement, (B) Agent receives an appraisal of such assets by a valuation firm selected by Borrowers and acceptable to Agent and that is in form and substance satisfactory to Agent, and (C) Agent receives a field examination in connection with such assets that is in form and substance satisfactory to Agent.
Eligible Accounts and Inventory. Promptly upon becoming aware thereof, notify Agent if any Account or Inventory identified by such Loan Party to Agent as an Eligible Account or Eligible Inventory, in each case, having a stated value in excess of (i) $500,000 in the case of any one Account or one item of Inventory or (ii) $2,000,000 in the aggregate in any calendar month, becomes ineligible for any reason.
Eligible Accounts and Inventory. Promptly upon becoming aware thereof, notify Agent if any Account or Inventory identified by Borrower to Agent as an Eligible Account or Eligible Inventory becomes ineligible for any reason, provided that, unless an Event of Default has and is continuing, Borrower may notify Agent of such event with respect to Eligible Accounts with a face amount of less than $500,000.00 in the aggregate in its ordinary monthly reporting pursuant to subsection 9(a) of this Agreement.
