Base Accounts definition

Base Accounts means accounts receivable of the Company as ------------- to which the Company has furnished to the Bank the information required by this Agreement and shall not include (a) accounts payable by subsidiaries, affiliates and employees of the Company, (b) accounts payable by debtors not located in the United States, unless otherwise approved in writing by the Bank or (c) accounts evidenced by promissory notes. The "net outstanding amount of Base Accounts" means the net --------------------------------------- amount of Base Accounts outstanding after eliminating from the aggregate amount of outstanding Base Accounts (i) such accounts that are more than 90 days past the date of the original invoice date or more than 60 days past the due date, whichever is earlier, and (ii) all other accounts of any account debtor with 25% or more of its accounts that are more than 90 days past the date of the original invoice date or more than 60 days past due as aforesaid; and deducting from the aggregate face amount of the remaining Base Accounts all payments, adjustments and credits applicable thereto and all amounts due thereon considered by the Bank difficult to collect or uncollectible by reason of return, rejection, repossession, loss or damage of or to the merchandise giving rise thereto, a merchandise or other dispute, insolvency of the account debtor, or any other reason, all as determined by the Bank in its discretion, which determination shall be final and binding upon the Company.

Base Accounts means the unaudited consolidated profit and loss account and balance sheet of the Group for the Financial Year ended 30th September 1997

Base Accounts means the audited financial statements of the Borrower and the consolidated audited financial statements of the Group for the period ended 31 March 2000;

Examples of Base Accounts in a sentence

• Solely for the purpose of calculating the Borrowing Base, Accounts Receivable shall not include that portion of the sum of money or other proceeds due thereon that relate to sales, use or property taxes in conjunction with such transactions with account debtors.

• Cost of eLearning accounts in excess of workstation count Counties that need eLearning accounts in excess of their total allocated accounts (Base Accounts + Additional Accounts = Total Accounts at state expense) will be charged for the cost of each extra account.

• Each allocated and leased TxDMV workstation is assigned one eLearning user account, which represents the county’s Base Accounts.

• An amount equal to the lesser of (a) the Commitment Amount -------------- or (b) 75% of the net outstanding amount of Base Accounts.

• The county’s Base Accounts plus Additional Accounts equals the county’s Total Accounts at State Expense.If a county desires eLearning accounts in excess of the county’s Total Accounts at State Expense additional accounts may be requested at county expense pending availability.

More Definitions of Base Accounts

Base Accounts means the audited accounts of the Borrower for the year ended on the Base Accounts Date;

Base Accounts means the audited financial statements of the Borrower for the period ended 31st December 2005;

Base Accounts means the audited financial statements of the Borrower and the consolidated audited financial statements of the Group for the period ended 31 December 2004;

Base Accounts means the aggregate Accounts Receivable of the Borrowers as to which the Agent has a perfected first security interest and the Borrowers have furnished to the Agent information as required by Section 5.1 (viii) and (ix). If and when a Base Account exists by virtue of constituting proceeds of Base Inventory, the Inventory giving rise to the Base Account automatically loses its status as Base Inventory.

Base Accounts means accounts of the Borrowers as to which (i) the underlying goods have been sold or services rendered, (ii) the Bank has a security interest, (iii) the Borrowers have furnished to the Bank all information reasonably requested by Bank with respect to said accounts, and (iv) the Borrowers have billed/invoiced the Account Debtor in the manner required by the contract/agreement with the Account Debtor. The “net outstanding amount of Base Accounts” means the net amount of Base Accounts outstanding after eliminating from the aggregate amount of outstanding Base Accounts the following:

Base Accounts means up to ______ Client accounts.

Base Accounts means Accounts Receivable of the Borrower as to which the Agent has a valid and perfected first-priority security interest and the Borrower has furnished to the Agent information as provided by Section 5.1 hereof, and such Accounts Receivable have not been determined by the Agent in its reasonable discretion to be not eligible for inclusion in the Borrowing Base. If and when a Base Account exists by virtue of constituting proceeds of Base Inventory, the Inventory giving rise to the Base Account automatically loses its status as Base Inventory.