Acceptable Obligor definition

Acceptable Obligor means any of the Acceptable Domestic Account Debtors, the Acceptable Foreign Account Debtors and the Acceptable Major Account Debtors.

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Acceptable Obligor means, at any time, all Obligors on the Seller's Receivables being acquired, from time to time, by the Purchaser from the Seller pursuant to this Agreement, except for Obligors which are Persons, or which are subject to a bankruptcy proceeding, either voluntary or involuntary, or which the Purchaser has given the Seller advance notice that the Obligor shall not be considered an Acceptable Obligor.

Acceptable Obligor means each obligor party to a Distribution Agreement or obligated to pay a tax credit except any obligor (i) with respect to which a Bankruptcy has occurred and is continuing, (ii) for which 20% or more of the total receivables due from such obligor are 120 days or more past due (exclusive of amounts that are being disputed or contested in good faith), (iii) which is organized in a jurisdiction which limits the ability of such obligor to remit payments to the Borrower in the United States, (iv) which is an Affiliate of the Borrower or of First Look Studios or (v) which is set forth on Schedule I attached hereto, which may be amended from time to time by the Administrative Agent in its reasonable discretion.

Examples of Acceptable Obligor in a sentence

• In the event that the Borrower determines that in accordance with its existing credit policies or in accordance with GAAP that it should reserve as a bad debt an item included in the Borrowing Base as a result of the lack of creditworthiness of an Acceptable Obligor or any account debtor, the Borrower shall give notice thereof to the Administrative Agent and shall delete from all future computations from the Borrowing Base any amounts payable by such obligor or account debtor.

• Produce any television Product unless at least 75% of the Budgeted Negative Cost thereof is covered by Eligible Receivables and amounts due under any co-production agreement relating to such television Product; provided that for the purposes of this Section 6.28 only an Eligible Receivable need not be payable by and collectable from an Acceptable Obligor.

• Purchaser shall also be entitled to receive from the Seller any other documentation pertaining to the Acceptable Obligor or the Purchased Receivable as the Purchaser may reasonably request.

More Definitions of Acceptable Obligor

Acceptable Obligor means any Approved Tier 1 Account Debtor, Approved Tier 2 Account Debtor, Approved Tier 3 Account Debtor and Approved Tier 4 Account Debtor.

Acceptable Obligor means any Person or Affiliated Group listed on Schedule 2 hereto (as modified from time to time in accordance with Section 2.15 hereof).

Acceptable Obligor means any Person or Affiliated Group identified as such on Schedule 2.11 (as modified from time to time in accordance with Section 2.11).