Eligible Canadian Accounts means Eligible Canadian Investment Grade Accounts, Eligible Canadian Billed Accounts and Eligible Canadian Unbilled Accounts.
More Definitions of Eligible Canadian Accounts
Eligible Canadian Accounts means those Accounts created by a Borrower in the ordinary course of its business as to which the following is applicable: such Account does not qualify as an Eligible Domestic Account solely because the Account Debtor with respect to such Account maintains its chief executive office in Canada (other than in the Province of Quebec) rather than in the United States or is organized under the laws of Canada or a political subdivision thereof (other than the Province of Quebec) rather than under the laws of the United States or any state thereof.
Eligible Canadian Accounts shall have the meaning assigned to such term in Section 2.21(a).
Eligible Canadian Accounts as used herein shall comprise all of the Credit Card Receivables of Canadian Borrower and any of Canadian Borrowing Base Guarantors as arise in the ordinary course of business, which have been earned by performance, that are not excluded as ineligible by virtue of one or more of the criteria set forth below and are reflected in the most recent Borrowing Base Certificate delivered by the Borrowers to the Collateral Agents and the Administrative Agents. None of the following shall be deemed to be Eligible Accounts:
Eligible Canadian Accounts means the Eligible Accounts owned by the Canadian Borrowers. "Eligible Canadian Equipment" shall mean the Eligible Equipment owned by the Canadian Borrowers. "Eligible Canadian Inventory" shall mean the Eligible Inventory owned by the Canadian Borrowers.
Eligible Canadian Accounts means Accounts created by Supplies Canada which are and continue to be acceptable to Lender based on the criteria set forth below. In general, Accounts shall be Eligible Canadian Accounts if:
Eligible Canadian Accounts. Those Accounts of MCL (net of any finance charges, late charges, credits, rebates, contras or other offsets, commissions, counterclaims or adjustments) (a) which the Borrowers reasonably determine to be collectible, (b) the account debtors in respect of which are not reasonably deemed uncreditworthy by the Majority Banks, are not debtors in any bankruptcy, insolvency, liquidation, reorganization, dissolution or similar case or proceeding or assignors for the benefit of creditors, are not affiliated with the Borrowers or the Guarantors, and purchased the goods or services for reasonably equivalent value, (c) which are not outstanding for more than ninety (90) days past the earlier to occur of (i) the date of invoice and (ii) the date of shipment (as to goods) or of provision (as to services), (d) which are not more than sixty (60) days past due from the due date thereof and which are on terms not to exceed thirty (30) days, (e) over which there is no Lien in favor of any person or entity other than (i) MI, and in which MI has a valid and perfected first-priority security interest (which security interest in favor of MI is collaterally assigned in favor of the Agent, for the benefit of the Agent and the Banks) and (ii) the Residue Loan Agent, for the benefit of the Residue Loan Agent and the Residue Loan Lenders, under the Residue Loan Documents (subject to the terms of the Residue Loan Subordination), (f) which are in payment of fully performed and undisputed obligations, (g) that are not due from any account debtor with respect to which more than fifty percent (50%) of the aggregate amount of all Accounts owing from such account debtor are not Eligible Accounts by reason of the foregoing clauses (c) or (d), (h) which are not Consignment Accounts, (i) which are payable in Dollars or Canadian dollars from an account debtor with its chief executive office or a branch office located within Canada or the United States and invoiced to and payable from such office, and (j) that are not supported by a letter of credit unless MI has a prior, perfected security interest in such letter of credit and such security interest has been collaterally assigned in favor of the Agent for the benefit of the Banks and the Agent."
Eligible Canadian Accounts means those Accounts (a) which meet all the requirements of Eligible Accounts except for the requirements set forth in (j)(ii) of the definition of Eligible Accounts; and (b) Accounts owing by Canadian Commercial Corporation, a Crown corporation of the Government of Canada, Canadian Department of National Defence, a department of the Government of Canada, the US State Department – GSO, the USA CE Finance Center and the United Nations.