Eligible Foreign Accounts Receivable means any Eligible Accounts Receivable with respect to which the Account Debtor is located outside of Canada or the United States.
Eligible Foreign Accounts Receivable means invoices for international shipments and services not more than sixty (60) days past due and otherwise reasonably acceptable to the Lenders.
Eligible Foreign Accounts Receivable. Eligible Domestic Accounts Receivable" shall mean invoices for domestic shipments and services less than ninety (90) days old and otherwise reasonably acceptable to the Lenders. "Eligible Foreign Accounts Receivable" shall mean invoices for international shipments and services not more than sixty (60) days past due and otherwise reasonably acceptable to the Lenders.
Examples of Eligible Foreign Accounts Receivable in a sentence
As used in this Agreement, the term “Borrowing Base” means the sum of (a) 80 percent of Eligible Domestic Accounts Receivable at the time in question, (b) 90 percent of Eligible Foreign Accounts Receivable at the time in question, and (c) 50 percent of Eligible Inventory at the time in question, provided, however, that the aggregate amount of Advances supported by Eligible Inventory shall not exceed $4,000,000 at any time.
Amounts available under the $1,500,000 revolver are limited to the amount available based on the level of Tangible Net Worth, as defined, and to 60% of Eligible Domestic Accounts Receivable plus 40% of Eligible Foreign Accounts Receivable, as defined ($1,150,000 and $1,164,000 at December 31, 1997 and March 31, 1998, respectively).
Such loans and advances shall be in amounts up to: A) eighty-five percent (85%) of the outstanding Eligible Domestic Accounts Receivable of the Company, B) eighty-five percent (85%) of the outstanding Eligible Foreign Accounts Receivable of the Company, and C) twenty-five percent (25%) of Eligible Domestic Finished Goods, at lower of cost or market, but not to exceed the Inventory Sub-Limit from time to time in effect.
The AMS Handbook can be found at http://portal.hud.gov/hudportal/documents/huddoc?id=20006CFOH.pdf HQ OGE maintains an OIG Audit Tracking Log that lists all the OIG audits (external and internal), the findings and recommendations, target dates discussed in the AMS Handbook, and the status of the audits.
More Definitions of Eligible Foreign Accounts Receivable
Eligible Foreign Accounts Receivable means any and all Receivables which (a) with respect to “cost-plus” or “time and materials” type contracts, represent amounts due and owing for products actually delivered or services actually performed or rendered by or on behalf of a Borrower to or for the benefit of a Foreign Account Debtor pursuant to such contract(s), and with respect to “fixed-price” type contracts, represent amounts due and owing from a Foreign Account Debtor on a percentage-of-completion or milestone billing basis in accordance with such contract(s); (b) are outstanding less than ninety-one (91) days from the date of original invoice; (c) are owing from a Foreign Account Debtor deemed acceptable by the Agent from time to time, in its sole and absolute discretion (including, without limitation, as of the Restatement Date, the Foreign Account Debtors listed on Schedule D hereto); and (d) are not otherwise Ineligible Receivables.
Eligible Foreign Accounts Receivable means the accounts receivable of Borrower and the Subsidiaries due from Persons not residents of the United States, excluding the following: (a) accounts receivable that have been outstanding in excess of 90 days from the date of invoice, (b) all accounts receivable from any single customer of Borrower or any of the Subsidiaries if 10 percent or more of such customer's accounts owed to Borrower or any of the Subsidiaries are ineligible for any reason, (c) accounts receivable due from officers, employees, or Affiliates of Borrower, (d) accounts receivable that are partially or wholly subject to the right of setoff, (e) accounts receivable resulting from COD sales, finance charges, and consignments, (f) accounts receivable that constitute any retainage, (g) accounts receivable that constitute dated xxxxxxxx other than approved by U. S. Bank in writing, (h) accounts receivable in which any Person other than U. S. Bank has a security interest, and (i) all accounts receivable from any single customer of Borrower or any of the Subsidiaries in excess of 10 percent of the aggregate amount of Eligible Accounts Receivable. Notwithstanding the foregoing, "Eligible Foreign Accounts Receivable" shall not include any accounts receivable unless and until U. S. Bank holds a first, valid, binding, and perfected security interest in any such accounts receivable. There shall be no duplication between Eligible Foreign Accounts Receivable and Eligible Accounts Receivable.
Eligible Foreign Accounts Receivable means, at any date of determination thereof, all of the Receivables of the Obligors payable by an Account Debtor located outside of the United States of America and Canada (a) which arise in the ordinary course of business; (b) which are not subject to any (i) asserted defense or counterclaim or (ii) setoff; (c) which do not arise from a sale, lease or rendition of services to any Obligor or any of their respective Affiliates, or employee, officer or director of such Obligor or any of its Affiliates, or upon which any Obligor or its Affiliate is an Account Debtor; (d) with respect to which the respective Obligor to which such Receivable is attributable has good and indefeasible title thereto, and has granted a perfected first priority Lien in favor of the Administrative Agent on behalf of the Lenders subject only to Permitted Liens; (e) which are not unpaid for a period greater than one hundred twenty (120) days after the invoice date thereof; (f) that are either (i) payable by an Eligible Foreign Account Debtor or (ii) insured in full by unconditional letters of credit or bankers acceptances satisfactory to Administrative Agent; (g) with respect to which the Account Debtor obligated on the Receivable has not suspended business, made an assignment for the benefit of creditors, consented to or applied for the appointment of a receiver, trustee, custodian or liquidation for itself or its assets, or instituted or become the subject of any proceeding under bankruptcy, reorganization or other debtor relief laws, (h) the right to receive payment of which is absolute and not contingent on the fulfillment of any condition and which do no pertain to goods that are on consignment, guaranteed sale or other conditional sale agreement; (i) which are not payable by an Account Debtor to whom any Obligor or its Affiliate is liable for goods sold or services rendered; and (j) which are not payable by an Account Debtor with whom Persons located in the United States of America are prohibited from doing business pursuant to applicable law. Notwithstanding the foregoing, in the event the ONGC Contract becomes effective, Receivables payable by ONGC may comprise up to $10,000,000 of the Eligible Foreign Accounts Receivable.
Eligible Foreign Accounts Receivable means, any Account meeting all of the criteria set forth in the definition of Eligible Domestic Accounts Receivable (other than the requirement set forth in clause (e)(ii) thereof), originating from an Account Debtor organized under the laws of Canada, Germany, the United Kingdom, or Australia (or any political subdivision of any of the foregoing, located in any such jurisdiction or whose principal place of business or substantially all of its assets is located in any such jurisdiction), and that the Administrative Agent determines in its sole discretion shall be treated as an "Eligible Foreign Account Receivable" for purposes hereof.
Eligible Foreign Accounts Receivable means receivables from customers located outside of the United States of America for which credit support is provided by Export Letters of Credit which have been provided to the Lender for negotiation.
Eligible Foreign Accounts Receivable means at any date of determination thereof (which date shall be selected in BANK's sole reasonable discretion) all Foreign Accounts Receivable of AESP/MIAMI which are not Eligible Insured Foreign Receivables and which are unpaid for a period of less than ninety (90) days from the date of original invoices which are issued to solvent going concerns. There shall be excepted from Eligible Foreign Accounts Receivable all receivables from subsidiaries, affiliated companies, or entities related to BORROWER.
Eligible Foreign Accounts Receivable means those Accounts arising in the ordinary course of business with respect to the sale of goods or rendering of services by Borrower or its Affiliates from Persons (other than Subsidiaries or Affiliates) domiciled outside of the United States of America which are not more than 60 days past due and which have been outstanding for not more than 120 days from invoice date in which the Bank has a first priority security interest, which are covered by insurance protecting the Bank against political and commercial risks on terms reasonably acceptable to the Bank and which are otherwise satisfactory to the Bank in its reasonable discretion, provided, that, if fifty (50%) percent or more of the Accounts due from an Account Debtor are deemed by the Bank to be ineligible, then all Accounts from such Account Debtor shall be deemed ineligible. Credits associated with past due ineligible Accounts shall not reduce the total of all such ineligible accounts. "Eligible Inventory" shall mean all unencumbered inventory or work-in-process and finished goods (other than slow-moving, obsolete or consigned inventory or office supplies) from time to time on hand in which the Bank has a first priority security interest and which is otherwise satisfactory to the Bank in its sole discretion, valued at the lower of (a) cost, (b) market value, or (c) the valuation consistent with that employed in the preparation of the financial statements of the Borrower referred to in this Agreement. "Environmental Laws" shall mean any federal, state or local statute or regulation relating to hazardous or toxic wastes or substances or the removal thereof. "Eurodollar Loans" shall mean Loans hereunder that bear interest for the Interest Period applicable thereto at a rate of interest based upon the Adjusted Libor Rate. "Eurodollar Reserve Percentage" shall mean for any day that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement for a member bank of the Federal Reserve System in New York City with deposits exceeding one billion dollars in respect of "Eurocurrency liabilities" (or in respect of any other category of liabilities which includes deposits by reference to which the interest rate on Eurodollar Loans is determined or any category of extensions of credit or other assets which includes loans by a non-United States office of the Bank to Unite...