Foreign Receivables. Beginning no later than 90 days after the Closing Date, Borrower shall pledge, or cause to be pledged, Foreign Receivables to Lender pursuant to security documents reasonably acceptable to Lender (it being understood that Borrower shall use its commercially reasonable best efforts to provide Lender with such pledge on terms and conditions as similar to the terms and conditions of the Security Agreement as possible under the circumstances) having a value for GAAP purposes (net of any allowances for doubtful accounts) at all times of not less than $13,000,000. For the avoidance of doubt, Foreign Receivables pledged to Lender pursuant to this Section shall not be subject to any Liens except Liens in favor of Lender.
Foreign Receivables. At the reasonable request of the Administrative Agent, the Servicer shall use reasonable efforts to provide to the Administrative Agent a list of Obligors by jurisdiction together with the Monthly Report to the extent the Servicer can accurately provide such list based on its capabilities as of such date and the information in its possession.
Foreign Receivables. The account debtor is outside of the United States, unless supported by foreign credit insurance in form and amount acceptable to Bank in its sole discretion.
Foreign Receivables. As soon as practicable but in any event on or before January 15, 2006, the Borrower shall (i) cause all accounts receivable arising from the operations of PRG-Xxxxxxx UK Ltd. in the United Kingdom (excluding accounts receivable owed by clients for auditing services performed by independent contractors hired by PRG-Xxxxxxx UK, Ltd.) (the "UK Receivables") to be pledged to the Lender as collateral for the Credit Party Obligations pursuant to documentation satisfactory to the Lender, (ii) cause all accounts receivable arising from the operations of PRG-Xxxxxxx Canada Corp. in Canada (the "Canadian Receivables", and together with the UK Receivables, the "Foreign Receivables") to be pledged to the Lender as collateral for the Credit Party Obligations pursuant to documentation satisfactory to the Lender, (iii) execute such other documents or instruments (including, without limitation, a guaranty by any such Subsidiaries or Affiliate of the Credit Party Obligations, limited in amount to the value of the UK Receivables or the Canadian Receivables, as applicable) as may be reasonably requested by the Lender in connection with such pledge to ensure that the Lender has a first priority perfected security interest in such Foreign Receivables (collectively, the "Foreign Receivables Documentation").
Foreign Receivables. Notwithstanding anything in this Agreement to the contrary, no Receivable, the Obligor of which is a resident of a jurisdiction other than the United States, Canada or Mexico, shall be sold, transferred or otherwise assigned by any Originator to the Company hereunder unless and until Company shall have notified such Originator in writing that such Receivable is acceptable for purchase hereunder.
Foreign Receivables. As to any RECEIVABLE from an ACCOUNT DEBTOR not domiciled in the United States of America or which otherwise arises in connection with INVENTORY for export sales or export accounts receivable and contract rights, the BORROWERS shall execute all documents and instruments and shall take all steps or actions as may be required by the LENDER to ensure that such RECEIVABLE is covered by export credit insurance insuring comprehensive (commercial and political) risks as the LENDER may deem necessary or advisable, or if approved by the LENDER, fully secured by a perfected assignment of proceeds of an irrevocable confirmed letter of credit issued by a United States bank fully acceptable to the LENDER in form and substance.
Foreign Receivables. Notwithstanding anything to the contrary in Section 2.1(a), the amount of Eligible Receivables included in the Formula Amount owing to any Specified Foreign Subsidiary, shall not exceed the limits set forth in clause (p) of the definition of “Eligible Receivables”, in each case, after application of the applicable Advance Rate.
Foreign Receivables. In the event Agent receives collections of Receivables in a currency other than Dollars, Agent shall credit to Borrowers' account the Dollar Equivalent of such foreign currency. Borrowers shall indemnify and hold harmless Agent and Lenders from any loss or damage arising as a result of a deficiency in the amount so collected.
Foreign Receivables. The Minimum Eligibility Requirements with respect to Eligible Receivables include the following: "the Receivable must not be owing from an Account Debtor located outside the United States or Canada (unless pre-approved by GBC in its discretion in writing, or backed by a letter of credit satisfactory to GBC, or FCIA insured satisfactory to GBC)." It is anticipated that GBC may, on a going forward basis, approve for borrowing purposes certain Receivables owing from Account Debtors outside the United States or Canada ("Foreign Receivables"); provided that GBC will only approve such Foreign Receivables as are consistent with the Minimum Eligibility Requirements, that is, among other things, THOSE AS ARE APPROVED BY GBC IN ITS DISCRETION. Further, Receivables owing from Scan Technology, to the extent such Receivables otherwise comply with the Minimum Eligibility Requirements, will be eligible for borrowing purposes if the invoiced Receivables are for product that will be shipped to Iomega's sub-contractors within 45 days and if the payment terms relating thereto require payment within 7 days of shipment thereof.
