Ineligible Accounts. IBM Credit and Customer agree that IBM Credit shall have the sole right to determine eligibility of Accounts from an Account debtor for purposes of determining the Borrowing Base; however, without limiting such right, the following Accounts will be deemed to be ineligible for purposes of determining the Borrowing Base;
(A) Accounts created from the sale of goods and/or performance of services (i) on non-standard terms or (ii) that allow for payment to be made more than thirty (30) days from the date of such sale or performance or services or (iii) to Nexus Unlimited, Inc.
(B) Accounts unpaid more than: (i) one hundred twenty (120) days from date of invoice if the Account debtor is a United States government institution; or (ii) ninety (90) days from date of invoice for all other Account debtors;
(C) Accounts payable by an Account debtor if fifty percent (50%) or more of the aggregate outstanding balance of all such Accounts remain unpaid for more than: (i) one hundred twenty (120) days from date of invoice if the Account debtor is a United States government institution; or (ii) ninety (90) days from date of invoice for all other Account debtors;
(D) Accounts payable by an Account debtor that is an Affiliate of Customer, or an officer, employee, agent, guarantor, stockholder of Customer or an Affiliate of Customer, or is related to or has common shareholders, officers or directors with Customer;
(E) Accounts arising from consignment sales;
(F) Except for state, local and United States government institutions and public educational institutions, Accounts with respect to which the payment by the Account debtor is or may be conditional;
(G) Except for state, local and United States government institutions and public educational institutions, Accounts with respect to which : (i) the Account debtor is not a commercial entity, or (ii) the Account debtor is not a resident of the United States;
(H) Accounts payable by any Account debtor to which Customer is or may become liable for goods sold or services rendered by such Account debtor to Customer;
(I) Accounts arising from the sale or lease of goods purchased for a personal, family or household purpose;
(J) Accounts arising from the sale or other disposition of goods that have been used for demonstration purposes or loaned or leased by the Customer to another party;
(K) Accounts which are progress payment accounts or contra accounts;
(L) Accounts upon which IBM Credit does not have a valid, perfected, first priori...
Ineligible Accounts. ▪ East West Bank Premier Digital Checking accounts that have had an initial funding deposit credited to the account. ▪ East West Bank Accounts that do not meet eligibility requirements as defined by this Agreement or otherwise by the Bank. Eligibility is determined solely by the records of the Bank, and may change from time-to-time. If in doubt, you should contact us to verify if your account(s) is eligible for the Debit Card Funding Service.
Ineligible Accounts. CDF will have the sole right to determine eligibility of Accounts and, without limiting CDF’s discretion in that regard, the following Accounts will be deemed ineligible: (a) Accounts unpaid more than sixty (60) days from the due date of invoice; (b) Accounts with payment terms in excess of 360 days; (c) Accounts which are originated with COD or cash in advance terms; (d) Accounts which represent an obligation which is created in settlement or compromise of a prior amount due or a disputed amount; (e) Accounts which are due from an account debtor who is subject to any bankruptcy, insolvency, receivership or similar proceeding; (f) all Accounts of any obligor if fifty percent (50%) or more of the aggregate outstanding balance of such obligor’s Accounts are unpaid for more than sixty (60) days from the due date of invoice; (g) Accounts for which the obligor is an officer, director, shareholder, partner, member, owner, employee, agent, parent, subsidiary, affiliate of with the exception of Cummins MerCruiser Diesel Marine LLC., or is related to Borrower or has common shareholders, officers, directors, owners, partners or members with Borrower; (h) consignment sales; (i) Accounts for which the payment is or may be conditional; (j) Accounts for which the obligor is not a commercial or institutional entity or is not a resident of the United States; (k) Accounts with respect to which any warranty or representation provided in Subsection 3.4 or Subsection 5.1 is not true and correct; (l) Accounts which represent goods or services purchased for a personal, family or household purpose; (m) Accounts which represent goods used for demonstration purposes or loaned by the Borrower to another party; (n) Accounts which are progress payment, barter, or contra accounts; (o) Accounts in which any Department, agency or instrumentality of the United States Government is an obligor in the event the total of all such Accounts exceeds five million dollars ($5,000,000), unless the provisions of the Federal Assignment of Claims Act have been satisfactorily complied with; (p) any amounts representing service charges or interest with respect to Accounts; (q) Accounts in which CDF does not have a perfected, first security interest therein; and (r) any and all other Accounts which CDF reasonably deems to be ineligible. If CDF determines that any Account is or becomes an ineligible Account, immediately upon notice thereof from CDF, Borrower will pay to CDF an amount equal to the monies ...
Ineligible Accounts. The credit union does not allow Mobile Remote Deposit Capture for the following account types:
Ineligible Accounts. 15 3.2. Reimbursement for Charges............................................ 17 3.3. Lockbox and Special Account.......................................... 17 3.4. Collections.......................................................... 18 3.5. Application of Remittances and Credits............................... 18 3.6.
Ineligible Accounts. We may from time to time limit or prohibit the use of the RDC Service for deposits to certain account types, at our sole discretion. Currently, we do not permit the RDC Service to be used for deposits to the following Accounts: Individual Retirement Accounts (IRAs), Individual Retirements Account Certificates (IRA CD’s), and Share Certificate Accounts. Further, you are not permitted to use the RDC Service to make payments on any outstanding loan with us. You agree that you will use the RDC Service only to scan and transmit images of “checks”, as that term is defined in Regulation CC of the Board of Governors of the Federal Reserve System, for a deposit to your Account. Any reference herein to “check” shall refer to each and every check or item that is transmitted to us by you using the RDC Service, both individually and collectively. You agree that the image of any check that is transmitted via the RDC Service shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code as adopted in Maine. You further agree that you will not use the RDC Service to scan or transmit any check or item that:
Ineligible Accounts. IBM Credit and Customer agree that IBM Credit shall have the sole right to determine eligibility of Accounts from an Account debtor for purposes of determining the Borrowing Base; however, without limiting such right, the following Accounts will be deemed to be ineligible for purposes of determining the Borrowing Base:
(A) Accounts created from the sale of goods and/or performance of services on non-standard terms or that allow for payment to be made more than thirty (30) days from the date of such sale or performance of services, except for those Accounts agreed to in writing by IBM Credit;
(B) Accounts unpaid more than ninety (90) days from date of invoice, except for those Accounts agreed to in writing by IBM Credit;
(C) Accounts payable by an Account debtor if fifty percent (50%) or more of the aggregate outstanding balance of all such Accounts remain unpaid for more than ninety (90) days from the date of invoice;
(D) Accounts payable by an Account debtor that is an Affiliate of Customer, or an officer, employee, agent, guarantor, stockholder of Customer or an Affiliate of Customer, or is related to or has common shareholders, officers or directors with Customer;
(E) Accounts arising from consignment sales;
(F) Except for state, local and United States government institutions and public educational institutions, Accounts with respect to which the payment by the Account debtor is or may be conditional;
(G) Except for state, local and United States government institutions and public educational institutions, Accounts with respect to which:
(i) the Account debtor is not a commercial entity, or
(ii) the Account debtor is not a resident of the United States;
(H) Accounts payable by any Account debtor to which Customer is or may become liable for goods sold or services rendered by such Account debtor to Customer;
(I) Accounts arising from the sale or lease of goods purchased for a personal, family or household purpose;
(J) Accounts arising from the sale or other disposition of goods that has been used for demonstration purposes or loaned or leased by the Customer to another party, except for those Accounts agreed to in writing by IBM Credit;
(K) Accounts which are progress payment accounts or contra accounts;
(L) Accounts upon which IBM Credit does not have a valid, perfected, first priority security interest;
(M) Accounts payable by an Account debtor that is or Customer knows will become, subject to proceedings under United States Bankruptcy Law or other la...
Ineligible Accounts. DFS will have the sole right to determine eligibility of Accounts and, without limiting DFS' discretion in that regard, the following Accounts will be deemed ineligible: (a) Accounts created from the sale of goods and services on non-standard terms and/or that allow for payment to be made more than thirty (30) days from the date of sale; (b) Accounts unpaid more than ninety (90) days from the date of invoice; (c) all Accounts of any obligor with fifty percent (50%) or more of the outstanding balance unpaid for more than ninety (90) days from the date of invoice; (d) Accounts for which the obligor is an officer, director, shareholder, partner, member, owner, employee, agent, parent, subsidiary, affiliate of, or is related to Dealer or has common shareholders, officers, directors, owners, partners or members; (e) consignment sales; (f) Accounts for which the payment is or may be conditional; (g) Accounts for which the obligor is not a commercial or institutional entity or is not a resident of the United States or Canada; (h) Accounts with respect to which any warranty or representation provided in Subsection 3.4 is not true and -------------- correct;
(i) Accounts which represent goods or services purchased for a personal, family or household purpose; (j) Accounts which represent goods used for demonstration purposes or loaned by the Dealer to another party; (k) Accounts which are progress payment, barter, or contra accounts; and (l) any and all other Accounts which DFS deems to be ineligible. If DFS determines that any Account is or becomes an ineligible Account, immediately upon notice thereof from DFS, Dealer will pay to DFS an amount equal to the monies loaned by DFS for such ineligible Account.
Ineligible Accounts. Ineligible Accounts shall include the following:
(a) The amount of any Account outside of the Eligibility Period.
(b) Any Account which is a Contra Account.
(c) Any Account subject to the Cross Aging Rule.
(d) Any Account which has been bonded or become subject to a suretyship or other similar arrangement.
(e) Any Inter-Company Account.
(f) Any Foreign Account, including any Export-Related Account, unless such Account shall be insured by Credit Insurance, or such Account shall be supported by a letter of credit for the benefit of and acceptable to Bank, or such Account shall be eligible pursuant to a duly executed Loan Authorization Agreement issued by the Small Business Administration of the United States Government in favor of Bank, or such Account is eligible pursuant to a duly executed Borrower Agreement issued by the Export-Import Bank of the United States in favor of Bank, or such Account is otherwise expressly approved in writing by the Bank.
(g) Any Account representing a Bxxx and Hold or similar arrangement.
(h) Any Government Account due from any branch, agency, or political subdivision of the State or Federal Government, including without limitation, any municipality, county, or board (each a “Governmental Entity”)for which the proper Assignment of Claims form, governmental consents, approvals, or Notice of Assignment form have not been fully executed or warrant issued for payment thereof by the Governmental Entity if such assignments, consents, approvals or warrants for payment shall be required by Bank in writing.
(i) Any Account due from any government agency which, by contract, precludes and/or prohibits the collateral assignment of such Account, unless otherwise expressly approved by Bank in writing.
(j) Any Account which, at the discretion of Bank, is deemed doubtful for collection for any reason, including but not limited to, those involving disputes, returns, credit worthiness, legal proceedings, whether in process, pending or threatened, conditional payments, is not free of all liens, encumbrances, charges, rights and interest except those in favor of Bank; or represent deposits, retainages, or progress billings, or are not payable in U.S. Dollars.
(k) That portion of Accounts due from an Account Debtor which is in excess of a concentration limit of twenty-five percent (25%) of Borrower’s aggregate dollar amount of all outstanding Accounts.
(l) That portion of Accounts which represent a credit balance on any Account outside of the Eligi...
Ineligible Accounts. Through the Online Business Banking Wire Transfer Service you can provide us with electronic instructions to transfer funds to third parties. You must be approved by us before you can use the Wire Transfer Service. The Wire Transfer Service is also not available to any NOW, Savings or Money Market Account or to any Account that requires two or more authorized signatures on checks, drafts, or negotiable orders of withdrawal written against such Account. The Bank may also, at its discretion, determine for other reasons that an Account is ineligible for the Wire Transfer Service, including reasons relating to poor account or credit history, or high risk banking activity as determined by the Bank. The Bank reserves the right to deny access to the Wire Transfer Service if the Service is misused by the Customer at any time without advance notice. In the event the Wire Transfer Service is deactivated, it is the Customer’s responsibility to make other arrangements for payments. The Bank will not be held liable for any missed payments and/or fees due to the deactivation of the Wire Transfer Service.
