Designated Account Debtor definition

Designated Account Debtor means each Account Debtor designated by the Lead Borrower from time to time in writing to the Administrative Agent (with it being acknowledged and agreed that any Account Debtor and its Affiliates shall constitute only one Account Debtor for purposes of this definition); provided, however, that, at no time, may there be more than eight Designated Account Debtors.

Designated Account Debtor means each Account Debtor designated in writing by the U.S. Borrower to the U.S. Administrative Agent as a “Designated Account Debtor” (provided that, if such Account Debtor had any Eligible Accounts that were included in the calculation of any Borrowing Base in the most recent Borrowing Base Certificate delivered to the U.S. Administrative Agent, such designation shall only be allowed to the extent the Borrowers have provided an updated Borrowing Base Certificate to the U.S. Administrative Agent prepared as of the date of such most recently delivered Borrowing Base Certificate but giving effect to the exclusion of all Accounts of such Designated Account Debtor from Eligible Accounts and demonstrating that after giving effect to such designation no prepayment of Loans or cash collateralization of Letters of Credit would be required pursuant to Section 4.3(a)); provided that upon written notice to the U.S. Administrative Agent, the U.S. Parent Borrower may designate an Account Debtor that was previously designated as a Designated Account Debtor as no longer being a Designated Account Debtor so long as no Accounts of such Account Debtor have been transferred pursuant to clause (xix) of the definition of “Asset Disposition” within the previous 120 days (or 210 days, with respect to any Account Debtor who has Accounts arising from transactions with the Canadian Borrower’s agricultural division) prior to such date of designation.

Designated Account Debtor means, at any time, all Account Debtors unless the Operating Agent has advised a Seller that an Account Debtor shall not be considered a Designated Account Debtor.

Examples of Designated Account Debtor in a sentence

• Make any change in the character of its business or in the Credit and Collection Policy, which change would or might, in either case, materially impair the collectability of any Receivable purchased or to be offered for purchase under this Agreement or the enforcement of any related Contract against the related Designated Account Debtor or any other relevant Person the operation of this Agreement without the prior written consent of the Operating Agent.

• Make any change in the character of its business or in the Credit and Collection Policy, which change would or might, in either case, materially impair the collectability of any Receivable purchased or to be offered for purchase under this Deed or the enforcement of any related Contract against the related Designated Account Debtor or any other relevant Person or the operation of this Deed without the prior written consent of the Operating Agent.

• Make any change in the character of its business or in the Credit and Collection Policy, which change would or might, in either case, materially impair the collectability of any Receivable purchased or to be offered for purchase under this Agreement or the enforcement of any related Contract against the related Designated Account Debtor or any relevant Person the operation of this Agreement without the prior written consent of the Operating Agent.

• Effective as provided in Section 2, the Loan Agreement is hereby amended by substituting Schedule 1.1D - Designated Account Debtor attached hereto for the existing Schedule 1.1D - Designated Account Debtor.

• Each Seller shall, if requested by the Operating Agent, forthwith execute a legal assignment to the Buyer or the Operating Agent or as the Operating Agent may direct (as determined by the Operating Agent) in such form as the Operating Agent requires of all or any of the Purchased Receivables and the Related Security and the full benefit thereof and will, if so required, give notice thereof to the relevant Designated Account Debtor.

More Definitions of Designated Account Debtor

Designated Account Debtor means one of two Account Debtors designated by the Borrower, at any time and from time to time, by written notice to Agent, as being one of the two Account Debtors to which clauses (h), (i) and (j) of the definition of Eligible Domestic Accounts apply.

Designated Account Debtor means each of the Account Debtors listed in Schedule H attached hereto.

Designated Account Debtor as set forth on Attachment A.

Designated Account Debtor means each Account Debtor listed from time to time with the consent of the Administrative Agent on SCHEDULE 1.1D - DESIGNATED ACCOUNT DEBTORS.

Designated Account Debtor means each Account Debtor designated in writing by the Administrative Borrower to the Administrative Agent as a “Designated Account Debtor” (provided that, if such Account Debtor had any Eligible Accounts that were included in the calculation of any Borrowing Base in the most recent Borrowing Base Certificate delivered to the Administrative Agent, such designation shall only be allowed to the extent the Borrowers have provided an updated Borrowing Base Certificate to the Administrative Agent prepared as of the date of such most recently delivered Borrowing Base Certificate but giving effect to the exclusion of all Accounts of such Designated Account Debtor from Eligible Accounts and demonstrating that after giving effect to such designation no prepayment of Loans or cash collateralization of Letters of Credit would be required pursuant to Section 4.3(b); provided that upon written notice to the Administrative Agent, the Administrative Borrower may designate an Account Debtor that was previously designated as a Designated Account Debtor as no longer being a Designated Account Debtor so long as no Accounts of such Account Debtor have been transferred pursuant to Section 9.4(o) within the previous 120 days prior to such date of designation.

Designated Account Debtor means Mega Diamonds.

Designated Account Debtor means any Account Debtor obligated with respect to Accounts having 90-day payment terms that is approved in writing by Administrative Agent in its sole discretion, and for which such approval has not been rescinded in writing by Administrative Agent.