Bonded Receivables definition

Bonded Receivables means any Receivable resulting from goods or services provided to an Account Debtor under a job which is covered by a surety bond provided by Borrower or its agent, that is secured by assets of any Restricted Person.

Bonded Receivables means any account receivable arising out of a contract under which the performance of Borrower or any Guarantor is guaranteed by a surety bond.

Bonded Receivables means any accounts receivable arising from any work, jobs or projects for which a payment and/or performance bond has been issued or is otherwise subject to surety bonds.

Examples of Bonded Receivables in a sentence

• The Borrower shall deliver written notice to the Administrative Agent at the close of each Business Day that includes (i) the aggregate amount of funds received and/or deposited in the TP&S Payment Account that constitute Bonded Receivables Proceeds and (ii) a breakdown of the amount of Bonded Receivables held in the TP&S Payment Account by bonded project.

• The Administrative Agent shall transfer collected funds that constitute Bonded Receivables Proceeds in the TP&S Payment Account to a segregated and blocked account for the members of the TP&S Group (the "Bonded Receivables Account").

• All amounts in the Bonded Receivables account shall be subject to the Administrative Agent's sole control and withdrawals by any Credit Party shall not be permitted.

• The Administrative Agent shall transfer any Bonded Receivables Surplus Proceeds in the Bonded Receivables Account to the TP&S Payment Account upon receipt of sufficient documentation which identifies the amounts in the Bonded Receivables Account that constitute Bonded Receivables Surplus Proceeds and which is acknowledged and consented to by the applicable surety and the Borrower and is in form and substance reasonably satisfactory to the Administrative Agent.

• All collected funds held in the TP&S Payment Account (after the transfer of the Bonded Receivables Proceeds therefrom) shall be applied by the Administrative Agent on a daily basis to repay the outstanding Revolving Obligations.

• Bonded Receivables.............................................................................................

More Definitions of Bonded Receivables

Bonded Receivables means as to any Borrower, all now owned or hereafter acquired accounts, Receivables and proceeds, including without limitation, all insurance proceeds and letter of credit proceeds, in each case solely to the extent such accounts, Receivables, and proceeds arise out of a Bonded Contract, including, but not limited to, Bonded Retainage, and all forms of obligations whatsoever owing to any Credit Party under instruments and documents of title constituting the foregoing or proceeds thereof; and all rights, securities, and guarantees with respect to each of the foregoing.

Bonded Receivables shall be inserted into Section 1.01 of the Credit Agreement in the appropriate alphabetical order:

Bonded Receivables means accounts receivable of Borrower and its Subsidiaries which arise from contracts in connection

Bonded Receivables means accounts receivable which otherwise qualify as a Qualified Account and arise from work, jobs or projects for which a payment and/or performance bond has been issued or is otherwise subject to surety bonds.

Bonded Receivables means any Receivable arising from a Customer pursuant to contract for which a Borrower has posted a performance bond to secure such Borrower's performance thereunder.

Bonded Receivables means any account receivable arising out of a contract under which the performance of the Borrower or a Subsidiary is guaranteed by a surety