Eligible Customer Accounts definition

Eligible Customer Accounts means Accounts invoiced by Borrower generated from expected receipt of MRR that (i) meet all of Borrower’s representations and warranties described in Section 5.3 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Bank in its sole but reasonable discretion; provided that Bank reserves the right at any time and from time to time to exclude and/or remove any Account from the definition of Eligible Customer Accounts, in its sole, reasonable discretion.

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Eligible Customer Accounts means Accounts of Borrower generated from expected receipt of Recurring Revenue which arise in the ordinary course of Borrower’s business that (i) meet all of Borrower’s representations and warranties described in Section 5.3 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Bank in its sole discretion; provided that Bank reserves the right at any time and from time to time to exclude and/or remove any Account from the definition of Eligible Customer Accounts, in its sole discretion.

Eligible Customer Accounts means Accounts of Borrower generated from expected receipt of Recurring Revenue which arise in the ordinary course of Borrower’s business that (i) meet all of Borrower’s representations and warranties described in Section 5.3 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Bank in its good faith business judgment; provided that Bank reserves the right upon prior written notice to Borrower at any time and from time to time to exclude and/or remove any Account from the definition of Eligible Customer Accounts, in its good faith business judgment.

Examples of Eligible Customer Accounts in a sentence

• To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Customer Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms.

• Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are Eligible Customer Accounts in any MRR calculation.

• For any Eligible Customer Account in any MRR calculation, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such Eligible Customer Accounts are and shall be true and correct in all material respects and all such invoices, instruments and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be.

• Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are Eligible Customer Accounts in any CMRR calculation.

• To Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Customer Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms.

• Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are Eligible Customer Accounts in any Monthly Recurring Revenue calculation.

• Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are Eligible Customer Accounts in any Monthly Recurring Revenue calculation and Borrowing Base Certificate.

• POR Eligible Customer Accounts include, and are limited to, accounts for Customers served under Rate Schedule RT and Rate Schedule NT with annual consumption of 1,000 Mcf or less whose receivables are only for commodity charges for basic natural gas supply services.

• The Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any customer whose Eligible Customer Accounts are used in any RR calculation.

• For any Eligible Customer Account in any CMRR calculation, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such Eligible Customer Accounts are and shall be true and correct in all material respects and all such invoices, instruments and other documents, and all of Borrower’s Books are genuine and in all material respects what they purport to be.

More Definitions of Eligible Customer Accounts

Eligible Customer Accounts. Accounts generated from expected receipt of Recurring Revenue which arise in the ordinary course of the Borrower’s business that meet all of the Borrower’s representations and warranties set forth herein and in the Guarantee and Collateral Agreement with respect thereto.

Eligible Customer Accounts means Accounts of Borrower and its Subsidiaries generated from expected receipt of Recurring Revenue which arise in the ordinary course of Borrower’s and each of its Subsidiary’s business that (i) meet all of Borrower’s representations and warranties described in Section 5.4 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Lender in its sole but reasonable discretion, but which shall exclude (a) Accounts consisting of revenue derived in connection with credit balances owed to Account Debtors, and (b) Accounts that have aged more than ninety (90) days from the due date, and, in any case, not more than one hundred fifty (150) days from the invoice date; provided that Lender reserves the right at any time and from time to time to exclude and/or remove any Account from the definition of Eligible Customer Accounts, in its sole but reasonable discretion.

Eligible Customer Accounts means Accounts of Borrower generated from expected receipt of Recurring Revenue which arise in the ordinary course of Borrower’s business that (i) meet all of Borrower’s representations and warranties described in Section 5.3 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Bank in its reasonable discretion; provided that Bank reserves the right at any time and from time to time to exclude and/or remove any Account from the definition of Eligible Customer Accounts in its sole discretion in the event that Borrower is not in complete compliance with this Agreement and/or is in violation of any financial covenant contained herein.

Eligible Customer Accounts means subscription Accounts of Borrower which arise in the ordinary course of Borrower’s business that (i) meet all of Borrower’s representations and warranties described in Section 5.3 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Bank in its sole discretion; provided that Bank reserves the right at any time and from time to time to exclude and/or remove any Account from the definition of Eligible Customer Accounts, in its sole discretion. “Existing Customer Accounts” are, on any date of determination, all Eligible Customer Accounts consisting of customers who have executed a subscription commitment with Borrower that are not New Customer Accounts or accounts that have been lost. “Lost Revenue” is, for any period, the total Recurring Revenue associated with the subscription Accounts of Borrower that were lost during the trailing three (3) month period ended as of such date of determination.

Eligible Customer Accounts means Accounts of Borrower generated from expected receipt of Recurring Revenue which arise in the ordinary course of Borrower’s business that (i) meet all of Borrower’s representations and warranties described in Section 5.3 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Bank in its sole discretion; provided that Bank reserves the right in its good faith business judgment at any time and from time to time, upon prior written notice to Borrower, to exclude and/or remove any Account from the definition of Eligible Customer Accounts, in its sole discretion.

Eligible Customer Accounts means Accounts of Borrower generated from expected receipt of MRR that (i) meet all of Borrower’s representations and warranties described in Section 5.3 and (ii) are or may be due and owing from Account Debtors deemed acceptable to Bank in its good faith business judgment; provided that (A) Bank reserves the right at any time and from time to time to exclude and/or remove any Account from the definition of Eligible Customer Accounts, in its good faith business judgment and (B) unless otherwise agreed by Bank, Accounts factored (including supply chain financing related to UPS or its Subsidiaries or Affiliates) shall be netted or deducted from MRR for purposes of calculating Availability Amount.