Eligible Foreign Accounts definition

Eligible Foreign Accounts means Accounts with respect to which the account debtor does not have its principal place of business in the United States and that (i) are supported by one or more letters of credit in an amount and of a tenor, and issued by a financial institution, acceptable to Bank, or (ii) that Bank approves on a case-by-case basis.

Eligible Foreign Accounts means Accounts with respect to which the account debtor does not have its principal place of business in the United States and that are (i) supported by one or more letters of credit in an amount and of a tenor, and issued by a financial institution, acceptable to Bank, (ii) insured by the Export Import Bank of the United States, (iii) generated by an account debtor with its principal place of business in Canada, provided that the Bank has perfected its security interest in the appropriate Canadian province, or (iv) approved by Bank on a case-by-case basis. All Eligible Foreign Accounts must be calculated in U.S. Dollars.

Eligible Foreign Accounts means all Accounts owed by Account debtors located outside the US for the sale or provision of Items, except the following shall not in any event be deemed Eligible Foreign Accounts:

Examples of Eligible Foreign Accounts in a sentence

• To facilitate the financing of EX-IM Eligible Foreign Accounts, the EX-IM Bank has agreed to guarantee the EX-IM Advances made under this EX-IM Agreement, pursuant to a Master Guarantee Agreement, Loan Authorization Agreement and (to the extent applicable) Delegated Authority Letter Agreement (collectively, the “EX-IM Guarantee”).

• To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Accounts and Eligible Foreign 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 Accounts or Eligible Foreign Accounts in any Borrowing Base Certificate.

• Adjusted Quick Ratio at least 1.50:1.00 Prime + 0.75% (Eligible Accounts) or Prime + 1.25% (Eligible Foreign Accounts); Yes No Adjusted Quick Ratio less than 1.50:1.00 Prime + 1.50% (Eligible Accounts); Prime + 2.00% (Eligible Foreign Accounts) Yes No The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

• To facilitate the financing of Eligible Foreign Accounts, the Exim Bank has agreed to guarantee the Exim Loans made under this Exim Agreement, pursuant to a Master Guarantee Agreement, Loan Authorization Agreement and (to the extent applicable) Delegated Authority Letter Agreement (collectively, the “Exim Guaranty”).

More Definitions of Eligible Foreign Accounts

Eligible Foreign Accounts. Accounts for which the Account Debtor does not have its principal place of business in the United States but are otherwise Eligible Accounts.

Eligible Foreign Accounts are Accounts that would be Eligible Accounts but for the fact that the Account Debtor’s principal place of business is not in the United States that are approved by Bank in writing in Bank’s sole and absolute discretion on a case-by-case basis.”

Eligible Foreign Accounts are Accounts for which the Account Debtor does not have its principal place of business in the United States and which otherwise satisfy the definition of Eligible Accounts.

Eligible Foreign Accounts for a Borrower means all Accounts due and owing by an account debtor located outside the United States to such Borrower; but excluding any Accounts having any of the following characteristics:

Eligible Foreign Accounts means Accounts with respect to which the account debtor does not have its principal place of business in the United States and is not located in an OFAC sanctioned country and that are (i) supported by one or more letters of credit in an amount and of a tenor, and issued, advised and/or confirmed by a financial institution, acceptable to Bank, (ii) insured by the Export Import Bank of the United States, (iii) generated by an account debtor with its principal place of business in Canada, provided that the Bank has perfected its security interest in the appropriate Canadian province, or (iv) approved by Bank on a case-by-case basis. All Eligible Foreign Accounts must be calculated in U.S. Dollars.

Eligible Foreign Accounts are Accounts for which the Account Debtor does not have its principal place of business in the United States or Canada but otherwise satisfy the definition of Eligible Accounts. Bank reserves the right, upon prior notice to Borrower, at any time after the Effective Date to adjust any of the criteria set forth herein and to establish new criteria in its good faith business judgment upon notice thereof to Borrower. Notwithstanding the foregoing, at no time shall the portion of Advances based upon the Eligible Foreign Accounts exceed forty percent (40%) of the Borrowing Base.

Eligible Foreign Accounts means, so long as the Borrower maintains the Credit Insurance Policy, Eligible Accounts owing by an account debtor whose chief executive office with respect to such Accounts is located outside Canada and the United States.