Eligible Commercial Loan means, at any time, a Commercial Loan for which the applicable conditions for eligibility described in Schedule 4.1 are satisfied and which may under Section 4.1 be included in the Borrowing Base.
Eligible Commercial Loan means any Commercial Loan that satisfies ------------------------ the Eligibility Requirements and (a) that is secured by Eligible Equipment, Eligible Inventory, Eligible Real Estate or Eligible Receivables and (b) that is made to an Eligible Client that is an ongoing business concern; provided, that, -------- ---- no Loan shall be an Eligible Commercial Loan (i) if a Credit Party, in its reasonable business judgment, deems such Eligible Commercial Loan to be uncollectible or subject to classification as non-accruing and for which it has not made appropriate credits to its reserves, or (ii) if the Loan or accrued interest thereon is more than 60 days past due.
Eligible Commercial Loan means any Commercial Loan that satisfies ------------------------ the Eligibility Requirements and (a) that is secured by Eligible Real Estate and (b) that is made to a Person that is an ongoing business concern.
More Definitions of Eligible Commercial Loan
Eligible Commercial Loan means, for any date of determination, any Commercial Loan as to which the representations and warranties set forth in Section 4(b) of the Warehouse and Security Agreement are true and correct as of the related Funding Date (for purposes hereof substituting the word "Seller" for "Borrower" therein), and as to which the Custodian has delivered a Trust Receipt pursuant to the Custody Agreement.
Eligible Commercial Loan means any Commercial Loan that satisfies the Eligibility Requirements and (a) that is secured by Eligible Real Estate, Eligible Equipment, Eligible Inventory or Eligible Receivables and (b) that is made to a Person that is an ongoing business concern.
Eligible Commercial Loan means a Commercial Mortgage Loan that, at all times during the term of this Agreement, (a) is evidenced by Commercial Loan Documents that are substantially in the forms previously approved, in writing, by the Lender in its reasonable discretion; (b) is validly pledged to the Lender, subject to no other Liens; (c) is not in default in the payment of principal and interest for a period of more than thirty (30) days; (d) is not in default in the performance of any obligation under the Commercial Loan Documents evidencing or securing such Eligible Commercial Loan, that has not been cured by the borrower; (e) is not subject to a bankruptcy or an act of fraud by the borrower under such Eligible Commercial Loan, as the case may be; (f) complies with all applicable Commercial Loan Guidelines in all material respects, (g) is for a loan amount that does not exceed its Loan Value; and (h) may not comply with all of the foregoing terms but is otherwise on terms acceptable to the Lender in its sole discretion as indicated by Lender's specific written or oral waiver of non-compliance with such foregoing terms.
Eligible Commercial Loan means the Permitted Commercial Loan ------------------------ and any other Commercial Loan that satisfies the Eligibility Requirements and (a) that is secured by Eligible Real Estate, Eligible Equipment, Eligible Inventory or Eligible Receivables, (b) that is made to a Person that is an ongoing business concern, and (c) that, as of March 3, 2002, qualified for inclusion in the Borrowing Base, provided that, in each case, -------- (x) the Commercial Loan is made to a Person that is operating as a going concern at all times and (y) the monetary terms, payment terms, financial covenants, negative covenants and any other material terms governing the Commercial Loan are not amended, modified or waived after March 3, 2002 on account of the Person to whom such Loan was made being unable to comply (for whatever reason) with the original terms.
Eligible Commercial Loan to read in their entirety as follows:
Eligible Commercial Loan means any Commercial Loan that satisfies the Eligibility Requirements and (a) that is secured by Eligible Equipment, Eligible Inventory, Eligible Real Estate or Eligible Receivables and (b) that is made to an Eligible Client that is an ongoing business concern; provided that no Loan shall be an Eligible Commercial Loan (i) if a Borrower, in its reasonable business judgment, deems such Eligible Commercial Loan to be uncollectible or subject to classification as non-accruing and for which it has not made appropriate credits to its reserves or (ii) if the Loan or accrued interest thereon is more than 60 days past due.
Eligible Commercial Loan means (i) the Permitted Commercial Loan and (ii) any other Commercial Loan which, as of March 3, 2002, qualified for inclusion in the Net Finance Assets, provided that, in each case, (w) the Loan satisfies the Eligibility Requirements, (x) the Loan is secured by Eligible Real Estate, Eligible Equipment, Eligible Inventory or Eligible Receivables, (y) the Loan is made to a Person that is operating as a going concern at all times and (z) the monetary terms, payment terms, financial covenants, negative covenants and any other material terms governing the Loan are not amended, modified or waived after March 3, 2002 on account of the Person to whom such Loan was made being unable to comply (for whatever reason) with such terms.