Approved Account Debtor means (a) an Account Debtor of any Loan Party approved by the Administrative Agent (at the direction of the Required Lenders in their reasonable discretion), (b) an Account Debtor which is an Investment Grade Customer or the obligations of which are fully and unconditionally guaranteed by an Investment Grade Customer and (c) each Account Debtor listed on Schedule 1.01(a).
Approved Account Debtor has the meaning specified in clause (k) of the definition of “Eligible Receivable”.
Approved Account Debtor either a Tier I Approved Account Debtor or a Tier II Approved Account Debtor.
Examples of Approved Account Debtor in a sentence
Without limiting the foregoing, Client, in its capacity as Servicer, shall not take any action (or omit to take any action that it would customarily take in servicing Receivables) that results in preferential treatment for Receivables of an Approved Account Debtor that do not constitute Purchased Receivables.
After dividing R and Q by (tjj)k for some k, we may assume that one of them is not divisible by tjj.
Approved Account Debtor: each Account Debtor that is organized or has its principal office outside the United States and Canada and that is listed on Schedule 1.4, provided that, unless the Agent otherwise agrees, the maximum amount of Eligible Accounts, attributed to (i) a single Approved Account Debtor shall not exceed $100,000 in the aggregate at any time and (ii) all Approved Account Debtors, collectively, shall not exceed $250,000 in the aggregate at any time.
UK Approved Account Debtor: a dealer for a Borrower which is located in the United Kingdom (and approved by Agent) which is an Account Debtor with respect to a Flooring Account that is subject to floor financing from a financial institution located in the United States pursuant to an Approved Dealer Financing Agreement.
More Definitions of Approved Account Debtor
Approved Account Debtor means (a) an Account Debtor of any Loan Party approved by Administrative Agent in its Permitted Discretion or at the direction of the Majority Lenders, from time to time, and (b) an Account Debtor which is an Investment Grade Customer or the obligations of which are fully and unconditionally guaranteed by an Investment Grade Customer, in each case, with respect to clauses (a) and (b), identified as such on the list delivered with the most recent Schedule of Accounts required pursuant to Section 8.1(b).
Approved Account Debtor means at any time, each Account Debtor whose corporate credit rating or senior debt rating (secured or unsecured), or any of them, by Mxxxx'x or S&P is investment grade (as of the Agreement Date, at least Baa3 and BBB-, respectively) and other Account Debtors approved in writing by the Administrative Agent. If only one such rating agency has issued an investment grade rating for an Account Debtor and the highest rating for such Account Debtor by the other rating agency is two levels (or 'ticks') or more below the highest rating issued by the first such rating agency, such Account Debtor shall not be an 'Approved Account Debtor' unless approved by the Administrative Agent. Approved Account Debtors as of the Agreement Date are listed on Annex F.
Approved Account Debtor means at any time, each Account Debtor whose corporate credit rating or senior debt rating (secured or unsecured), or any of them, by Moody's or S&P is investment grade (as of the Agreement Date, at least Baa3 and BBB-, respectively) and other Account Debtors approved in writing by the Administrative Agent. If only one such rating agency has issued an investment grade rating for an Account Debtor and the highest rating for such Account Debtor by the other rating agency is two levels (or 'ticks') or more below the highest rating issued by the first such rating agency, such Account Debtor shall not be an 'Approved Account Debtor' unless approved by the Administrative Agent. Approved Account Debtors as of the Agreement Date are listed on Annex F.
Approved Account Debtor means each of Xxxxxxxx Aluminum Corporation and Xxxxxx Corporation (formerly known as Alcoa Building Products) so long as the senior unsecured, non-credit enhanced debt securities of Xxxxxxxx Aluminum Corporation or Xxxxxx Corporation, as the case may be, are rated Baa3 or better by Moody's and BBB- or better by Standard & Poor's.
Approved Account Debtor means any Person or Affiliated Group identified as such on Schedule 2 hereto; provided, however, that (i) the Agent may from time to time by written notice to the Borrower (which notice shall be prospective only, i.e., to the extent that removing such Person or Affiliated Group from the Approved Account Debtor list would otherwise result in a mandatory prepayment by the Borrower under Section 2.12, such removal shall not be given effect for purposes of such Section, but such removal shall nevertheless be effective for all other purposes under this Agreement immediately upon the Borrower's receipt of such notice) delete such Persons or Affiliated Groups as the Agent, acting in good faith may in its reasonable discretion deem appropriate and (ii) the Required Lenders may add, by written notice to the Borrower, a Person or an Affiliated Group to the list of Approved Account Debtors as they may in their discretion deem appropriate.
Approved Account Debtor means each of Reynxxxx Xxxminum Corporation and Stolxx Xxxporation (formerly known as Alcoa Building Products) so long as the senior unsecured, non-credit enhanced debt securities of Reynxxxx Xxxminum Corporation or Stolxx Xxxporation, as the case may be, are rated Baa3 or better by Moodx'x xxx BBB- or better by Standard & Poor's.
Approved Account Debtor means a Person obligated on or under any Account or contract receivable, and which is deemed creditworthy by Lender as determined by Lender in its sole discretion; PROVIDED that under no circumstances shall any of the following Persons be an Approved Account Debtor under this Agreement: (a) the United States government or a political subdivision thereof, or any state or municipality or department, agency or instrumentality thereof, or (b) an Account Debtor located outside of the United States of America.