Eligible Equipment definition

Eligible Equipment is (a) general purpose computer equipment, office equipment, test and laboratory equipment, furnishings, subject to the limitations set forth herein, and (b) Other Equipment that complies with all of Borrower's representations and warranties to Bank and which is reasonably acceptable to Bank in all respects.

Eligible Equipment means, at any time of determination, Equipment owned by Borrower which Lender, in its sole discretion, deems to be eligible for borrowing purposes.

Eligible Equipment means Equipment of the Company or a Grantor which the Administrative Agent, in the exercise of its reasonable commercial discretion, determines to be Eligible Equipment. Without limiting the discretion of the Administrative Agent to establish other criteria of ineligibility, Eligible Equipment shall not (unless otherwise agreed to by the Administrative Agent) include any Equipment:

Examples of Eligible Equipment in a sentence

• No Equipment Advance may exceed one hundred percent (100%) of the total invoice for Eligible Equipment (excluding taxes, shipping, warranty charges, freight discounts and installation expenses relating to such Eligible Equipment except to the extent such are allowed to be financed pursuant hereto as Other Equipment).

• Borrower shall use the proceeds of the Credit Extensions solely as working capital, to purchase Eligible Equipment, and to fund its general business requirements and not for personal, family, household or agricultural purposes.

• All Eligible Equipment must have been new when purchased by Borrower, except for such Eligible Equipment that is disclosed in writing to Bank by Borrower, and that Bank in its sole discretion has agreed to finance, prior to being financed by Bank.

• All Eligible Equipment, Cabling, Installation and Warranty)• Proposer must abide by the district’s bid policy.• Proposer must abide by the state of Mississippi bid laws.• Proposer must provide specific price quotes for eligible services.

• To Agent, within five (5) Business Days after receipt thereof, copies of any and all default notices received under or with respect to any leased location or warehouse where Eligible Equipment Collateral is located.

More Definitions of Eligible Equipment

Eligible Equipment means and include with respect to each Borrower, all such Equipment owned by (and in the possession or under the control of) a Borrower that is located at a premises in the continental United States owned and controlled by a Borrower or, at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by the Agent), is situated at a location leased and controlled by a Borrower for which Agent has obtained a Lien Waiver Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); provided that, Eligible Equipment shall not include Equipment (a) for which a Borrower does not have good and marketable title; (b) which was not acquired pursuant to an arms-length transaction; (c) which is used, damaged, inoperable or defective in any material way or is not in good working condition; (d) which is not subject to a first-priority perfected security interest in favor of the Agent or which is subject to any Lien (other than Permitted Encumbrances); (e) which does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such Equipment or the use, lease or sale thereof; (f) which is covered by a negotiable document of title; (g) which is not covered by insurance in accordance with this Agreement; or (h) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Equipment, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its sole discretion).

Eligible Equipment means a cigarette tax stamping machine that meets all of the following conditions:

Eligible Equipment means the Equipment owned by any Loan Party and meeting each of the following requirements:

Eligible Equipment is (a) general purpose computer equipment, office equipment, test and laboratory equipment, furnishings, subject to the limitations set forth herein, and (b) Other Equipment that complies with all of Borrower's representations and warranties to Bank and which is acceptable to Bank in all respects.

Eligible Equipment means equipment with engines, including stationary generators and pumps, operated and, if applicable, permitted in Utah.

Eligible Equipment means the Equipment owned by a Borrower and meeting each of the following requirements:

Eligible Equipment is the following to the extent it complies with all of Borrower’s representations and warranties to Bank, is acceptable to Bank in all respects, is located at locations permitted by Section 7.2, and (in the case of Eligible Equipment owned by the Borrower or any Guarantor) is subject to a first priority Lien in favor of Bank: (a) general purpose equipment, computer equipment, servers and related equipment, office equipment, furnishings, subject to the limitations set forth herein, and (b) Other Equipment.”