More Definitions of Eligible Canadian Account

Eligible Canadian Account means any Eligible Account owing to the Company by an Account Debtor organized under the laws of Canada. “Eligible Canadian Inventory” means any Eligible Inventory owned by the Company which is located in Canada.

Eligible Canadian Account means any Eligible Account owing to a US Loan Party by an Account Debtor organized under the laws

Eligible Canadian Account means any Eligible Account which is due and owing by a Person located in Canada.

Eligible Canadian Account means an Account Receivable as to which such Account Receivable does not qualify as an Eligible Account Receivable solely because (i) the Account Debtor with respect to such Account Receivable maintains its chief executive office in Canada (other than the Maritime provinces) rather than in the United States or is organized under the laws of Canada or a political subdivision thereof (other than the Maritime provinces) rather than under the laws of the United States or any state thereof, and (ii) the Account is payable in Canadian dollars; provided however, that (x) such Account Receivable must be billed from and collected in the United States and (y) if such Account Receivable is payable in Canadian dollars, Administrative Agent may establish reserves with respect to exchange rate risks.

Eligible Canadian Account means an Account which has been included in a Borrowing Base Certificate to determine the Canadian Borrowing Base, and as to which Account the following is true and accurate as of the time it was utilized to determine the Canadian Borrowing Base and as of the time the Canadian Permitted Borrower has requested a Revolving Credit Advance based in part thereon:

Eligible Canadian Account means any Account of one of the Canadian Guarantors as to which each of the following is applicable: (a) such Account does not qualify as an Eligible Domestic Account solely because of one or more of the following reasons: (x) such Account is an Account of a Canadian Guarantor rather than of a Borrower; (y) such Account is payable in Canadian dollars rather than in Dollars; or (z) the Account Debtor with respect to such Account maintains its chief executive office in Canada rather than in the United States or is organized under the laws of Canada or a political subdivision thereof rather than under the laws of the United States or any State thereof; and (b) Collateral Agent has perfected security interests in such Account prior to any other security interest therein.

Eligible Canadian Account definition