Eligible Billed Receivables definition

Eligible Billed Receivables means each Account arising in the ordinary course of Borrower’s business from the sale of goods or rendering of Services which Lender, in its sole discretion, deems an Eligible Receivable unless:

Eligible Billed Receivables means Eligible Receivables that have been billed to the appropriate Customer, are aged not greater than 90 days from the date of the initial invoice. For the purposes of this definition, the term "initial invoice" shall mean the first invoice relating to the applicable goods shipped or services rendered, and not any subsequent invoice relating thereto.

Eligible Billed Receivables means, as to Credit Parties, on a consolidated basis and without duplication, all Receivables of such Persons, in each case reflected on its books in accordance with GAAP which conform to the representations and warranties in Article IV hereof and in the Security Documents to the extent such provisions are applicable to the Receivables, and each of which meets all of the following criteria on the date of any determination:

Examples of Eligible Billed Receivables in a sentence

• In addition, if Accounts of Borrower in an aggregate face amount in excess of $500,000 become ineligible because they fall within one of the specified categories of ineligibility set forth in the definition of Eligible Billed Receivables or Eligible Unbilled Receivables, Borrower shall notify Agent of such occurrence within two (2) Business Days following its discovery of such occurrence and the Borrowing Base shall thereupon be adjusted to reflect such occurrence.

• With each such delivery of a Borrowing Base Certificate, the Borrower shall deliver to the Agent an aging of the Eligible Billed Receivables, so that the Agent can adjust the amount of such Receivables that are outstanding more than 90 days after their invoice date, in relation to the amount of such aged Receivables reflected in the immediately preceding Borrowing Base Certificate delivered by the Borrower to the Agent.

• The potential quantity and grade range is conceptual in nature, since there has been insufficient exploration to define a Mineral Resource.

• Subject to the provisions of this Agreement, Borrower may request Advances under the Revolving Facility up to and including the value, in U.S. Dollars, of Eighty-Five percent (85%) of the Borrowing Base for Eligible Billed Receivables plus Sixty percent (60%) of the Borrowing Base for Eligible Unbilled Receivables minus, if applicable, amounts reserved pursuant to this Agreement (such calculated amount being referred to herein as the "Availability").

• CREDIT LIMIT: Loans in a total amount at any time outstanding not to exceed the lesser of Twenty Million Dollars ($20,000,000) at any one time outstanding (the "Maximum Dollar Amount"), or an amount not to exceed 85% of the amount of Borrower's Eligible Billed Receivables and Eligible Unbilled Receivables (as defined in Section 1 of the Agreement).

More Definitions of Eligible Billed Receivables

Eligible Billed Receivables means Eligible Receivables that have been billed to the appropriate Customer and are aged less than 90 days from the date of the initial invoice. For the purposes of this definition, the term "initial invoice" shall mean the first invoice relating to the applicable goods shipped or services rendered, and not any subsequent invoice relating thereto. "Eligible Receivables" means Accounts Receivable of Eldyne or Unidyne (a) that represent valid obligations incurred by a Customer for goods shipped or delivered or services completed under valid contracts of sale, lease or service that have been formally awarded to such Borrower and for which all required contract documents have been executed by the Customer and such Borrower and, in the case of Accounts Receivable owed by the Government, for which funds have been appropriated and allocated; (b) on which the Customer is not Titan, another Borrower, an Affiliate or Subsidiary of a Borrower or an Affiliate or Subsidiary of Titan; (c) with respect to which such Borrower has no knowledge or notice of any inability of the Customer to make full payment; (d) from the face amounts of which have been deducted all payments, setoffs, amounts subject to adverse claims made in writing to such Borrower, contractual allowances, bad debt reserves and other credits applicable thereto; (e) that are subject to no Liens other than those permitted by this Agreement; (f) that continue to be in full conformity with the representations and warranties made by such Borrower to the Lender in this Agreement; (g) with respect to which the Lender is and continues to be satisfied with the credit standing of the Customer; (h) on which the Customer is not a creditor of such Borrower; (i) on which the Customer is not a foreign government or an entity organized and existing under the laws of a country other than the United States; (j) in which the Lender has a perfected, first priority security interest; (k) that are payable in United States dollars in the United States; (l) that are not evidenced by notes; (m) that are not in dispute; and (n) that do not arise out of a bill and xxxx sale, a guaranteed sale, a sale and return, a sale on approval or a consignment transaction; provided, however, and without limiting any other provisions of this Agreement with respect to the exclusion of Receivables from the category of Eligible Receivables and the Borrowing Base, that (1) if the Lender reasonably determines that the collectibility of any Receivable...

Eligible Billed Receivables means each Account arising in the ordinary course of Borrower’s business, which meets the following criteria:

Eligible Billed Receivables means each Account (other than Eligible Unbilled Receivables, which Eligible Unbilled Receivables shall become Eligible Billed Receivables only upon satisfaction of the terms of this definition of Eligible Billed Receivables) arising in the ordinary course of any Borrower's business from the sale of goods or rendering of services which Agent, in its Permitted Discretion, deems an Eligible Billed Receivable unless:

Eligible Billed Receivables means all rights to payment due to the Borrower which (a) constitute an “account” as defined in the Uniform Commercial Code as in effect in the applicable jurisdiction; (b) represent amounts due and owing (i) for products actually delivered or services actually performed or rendered by or on behalf of the Borrower pursuant to a written contract or written agreement now or hereafter entered into by the Borrower and a Person which is not an Affiliate of the Borrower, or (ii) as interim xxxxxxxx or progress payments in accordance with fixed price contracts between the Borrower and a Person which is not an Affiliate of the Borrower; (c) have been properly billed; (d) arise in the ordinary course of the Borrower’s business; (e) are not subject to any defense, set-off or counterclaim; and (f) are not Ineligible Receivables.

Eligible Billed Receivables means all rights to payment due to the Borrower which (a) constitute an “account” as defined in the Uniform Commercial Code as in effect in the

Eligible Billed Receivables as of a particular time shall mean all accounts receivable then outstanding for inventory and other goods, merchandise and tangible assets and properties sold or services rendered in the ordinary course of the Borrower's business (as then conducted) (collectively, the "Products") as determined in accordance with GAAP and that qualify for eligibility as determined from time to time by the Lender in its sole and absolute discretion. However, no account receivable will be included in Eligible Receivables where: (a) the invoice is more than 90 days past due; (b) a final invoice has not been issued; (c) delivery of the invoiced Product(s) has not been completed; (d) the invoice is conditional, permits returns or restricts collection rights or assignments in any respect; (e) the invoice permits payment

Eligible Billed Receivables means the aggregate amount of all Accounts of each Borrower arising in the ordinary course of such Borrower's business as presently conducted, valued at the lowest of invoice (adjusted for credits, returns or the like), book value or the amount reasonably expected by such Borrower to be collected from the particular Account Debtor(s) and payable in U.S. Dollars, less any accounts and related amounts without duplication :