Approved Obligor definition

Approved Obligor means each Obligor listed on Schedule A, as the same may be updated from time to time in accordance with Sections 14.21 and 14.22.

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Approved Obligor means each Person which the Agent has notified the Borrower in writing from time to time constitutes an "Approved Obligor" for the purposes of this Agreement. As of the Closing Date, each of Costco Wholesale Corporation, Sam's Club and Best Buy Co., Inc. constitutes an Approved Obligor.

Approved Obligor means each Obligor listed on Schedule A-1, as the same may be updated from time to time in accordance with Sections 14.21 and 14.22.

Examples of Approved Obligor in a sentence

• Once each Purchaser has provided written approval of a proposed Approved Obligor to the Seller Representative and the Administrative Agent, such Person shall immediately become an Approved Obligor hereunder, and the Administrative Agent shall provide an updated copy of Schedule A-1 to the Seller Representative reflecting the then-current Approved Obligors.

• In the event that the Administrative Agent elects to retain ownership of any Eligible Unbilled Receivable after the Termination Date or the revocation of the Purchasers’ approval of any Approved Obligor pursuant to Section 14.22, the Seller Representative shall promptly (and in any event, within five (5) Business Days) issue an Invoice for any such retained Eligible Unbilled Receivable.

• Any such request shall be made by the Seller Representative to the Administrative Agent and the Purchasers and shall include a proposed Approved Obligor Buffer Period.

• From time to time during the term of this Agreement, the Seller Representative may request that one or more account debtors be added as an additional Approved Obligor under this Agreement.

• Once the Administrative Agent has revoked its approval of an Approved Obligor, such Person shall immediately cease to be an Approved Obligor hereunder (except with respect to outstanding Purchased Receivables) and the Administrative Agent shall provide an updated copy of Schedule A-1 to the Seller Representative reflecting the then-current Approved Obligors.

More Definitions of Approved Obligor

Approved Obligor means each Obligor listed on Schedule A, as such list may be amended from time to time to add or delete any Obligor as mutually agreed in writing by the Seller Representative and the Purchaser.

Approved Obligor means each of Ford Motor Company, General Motors Corporation, Daimler Chrysler Corporation, New Venture Gear, Caterpillar Corporation and the wholly-owned Subsidiaries of each of the foregoing.

Approved Obligor means each Obligor listed on Schedule A, as the same may be updated from time to time in accordance with Sections 13.20 and 13.21.

Approved Obligor appearing in Section 1.1 of the Loan Agreement is amended in its entirety to be and to read as follows: "Approved Obligor" shall mean each of Ford Motor Company, General Motors Corporation, Daimler Chrysler Corporation, New Venture Gear, Caterpillar Corporation and the wholly-owned Subsidiaries of each of the foregoing.

Approved Obligor means each Obligor listed on Schedule A, as such list may be amended from time to time to add or delete any Obligor as mutually agreed in writing by the Seller Representative and the Purchaser; provided, that (i) each Approved Honeywell Subsidiary Obligor shall be deemed to be an Approved Obligor with respect to those Receivables that arise under a Contract between a Seller and such Approved Honeywell Subsidiary Obligor for which Honeywell International, Inc. is obligated to pay all amounts owing on such Receivable in accordance with the terms of such Contract, and, for all purposes hereunder, the Approved Obligors with respect to such Receivables shall be both the applicable Approved Honeywell Subsidiary Obligor and Honeywell International, Inc., and (ii) each Approved Abbott Subsidiary Obligor shall be deemed to be an Approved Obligor with respect to those Receivables that arise under a Contract between a Seller and such Approved Abbott Subsidiary Obligor for which Abbott Laboratories is obligated to pay all amounts owing on such Receivable in accordance with the terms of such Contract, and, for all purposes hereunder, the Approved Obligors with respect to such Receivables shall be both the applicable Approved Abbott Subsidiary Obligor and Abbott Laboratories.

Approved Obligor means an Obligor that, on the date of determination, (1) has a long term credit rating of at least “BB” from S&P or at least “Ba2” from ▇▇▇▇▇’▇ or (2) is otherwise acceptable to the Administrative Agent.

Approved Obligor means each of Western's customers approved by Purchaser as of the Closing Date and every other customer, who is approved by Purchaser thereafter pursuant to Section 6.02 of the Receivables Purchasing Agreement.