Eligible Insured Accounts definition

Eligible Insured Accounts means, without duplication, any Eligible Account that meets the criteria for an Eligible Account (other than the criterion set forth in subsection (k)(iii) of the definition of Eligible Account) of the applicable Collateral Coverage Obligor that is the subject of accounts receivables insurance provided by EDC, provided that (i) the insurance policies relating to such Eligible Accounts are in form and substance acceptable to the Agent, and (ii) the proceeds of any insurance policy relating to such Eligible Accounts are assigned to the Agent; further provided that (x) notwithstanding subsection (c) of the definition of “Eligible Accounts”, an Eligible Insured Account shall include an Account that it is evidenced by an invoice dated not more than one hundred and eighty (180) days have passed since the invoice was issued, (y) notwithstanding subsection (f) of the definition of “Eligible Accounts”, an Eligible Insured Account shall include an Account that remains unpaid until one hundred and eighty (180) days after the date that the original invoice corresponding to such Account was issued, and (z) notwithstanding subsection (g) of the definition of “Eligible Accounts”, an Eligible Insured Account shall include Accounts from NSN that comprise an amount equal up to eighty percent (80%) of the Collateral Coverage Obligors’ aggregate Eligible Accounts owing from all Account Debtors.
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Eligible Insured Accounts means, an Account owing to a Canadian Borrowing Base Obligor, which satisfies all of the requirements for an Eligible Account and the payment of which has been insured by Export Development Canada (or such other receivables insurer as is approved by Canadian Agent in its discretion), with not less than 90% of the amount of such Account covered by such insurance, with Canadian Agent named as beneficiary thereunder or proceeds of which shall be assigned to Canadian Agent, and a copy of the policy under which such insurance is provided having been provided to and approved by Agent.
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Eligible Insured Accounts means Accounts covered by credit insurance acceptable to Bank.
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Examples of Eligible Insured Accounts in a sentence

  • The Agent shall have received evidence reasonably satisfactory to it that the Credit Parties have obtained the accounts receivable insurance policies from EDC in connection with the Eligible Insured Accounts required by Section 6.6 and that such insurance policies are in full force and effect.


More Definitions of Eligible Insured Accounts

Eligible Insured Accounts means, without duplication, any Eligible Account that meets the criteria for an Eligible Account (other than the criterion set forth in subsection (k)(iii) of the definition of Eligible Account) of the applicable Borrowing Base Obligor that is the subject of accounts receivables insurance provided by EDC, provided that (i) the insurance policies relating to such Eligible Accounts are in form and substance acceptable to the Agent, and (ii) the proceeds of any insurance policy relating to such Eligible Accounts are assigned to the Agent; further provided that:
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Eligible Insured Accounts means the Net Invoice Value of Eligible Shipments as defined in the Insolvency Risk Insurance Policy.
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Related to Eligible Insured Accounts

  • Covered Account means an Account established by a financial intermediary for another as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through BNYM.

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • Eligible Account Any of (i) an account or accounts maintained with a federal or state chartered depository institution or trust company the short-term unsecured debt obligations of which (or, in the case of a depository institution or trust company that is the principal subsidiary of a holding company, the debt obligations of such holding company) have the highest short-term ratings of each Rating Agency at the time any amounts are held on deposit therein, or (ii) an account or accounts in a depository institution or trust company in which such accounts are insured by the FDIC or the SAIF (to the limits established by the FDIC or the SAIF, as applicable) and the uninsured deposits in which accounts are otherwise secured such that, as evidenced by an Opinion of Counsel delivered to the Trustee and to each Rating Agency, the Certificateholders have a claim with respect to the funds in such account or a perfected first priority security interest against any collateral (which shall be limited to Permitted Investments) securing such funds that is superior to claims of any other depositors or creditors of the depository institution or trust company in which such account is maintained, or (iii) a trust account or accounts maintained with (a) the trust department of a federal or state chartered depository institution or (b) a trust company, acting in its fiduciary capacity or (iv) any other account acceptable to each Rating Agency. Eligible Accounts may bear interest, and may include, if otherwise qualified under this definition, accounts maintained with the Trustee.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Qualified Account means an Account of Borrower generated in the ordinary course of Borrower's business from the sale of goods or rendition of medical services which Lender, in its sole credit judgment, deems to be a Qualified Account. Without limiting the generality of the foregoing, no Account shall be a Qualified Account if: (a) the Account or any portion thereof is payable by an individual beneficiary, recipient or subscriber individually and not directly to Borrower by a Medicaid/Medicare Account Debtor or commercial medical insurance carrier acceptable to Lender in its sole discretion; (b) the Account remains unpaid more than one hundred twenty (120) days past the claim or invoice date; (c) the Account is subject to any defense, set-off, counterclaim, deduction, discount, credit, chargeback, freight claim, allowance, or adjustment of any kind; (d) any part of any goods the sale of which has given rise to the Account has been returned, rejected, lost, or damaged; (e) if the Account arises from the sale of goods by Borrower, such sale was not an absolute sale or on consignment or on approval or on a sale-or-return basis or subject to any other repurchase or return agreement, or such goods have not been shipped to the Account Debtor or its designee; (f) if the Account arises from the performance of services, such services have not been actually been performed or were undertaken in violation of any law; (g) the Account is subject to a lien other than a Permitted Lien; (h) Borrower knows or should have known of the bankruptcy, receivership, reorganization, or insolvency of the Account Debtor; (i) the Account is evidenced by chattel paper or an instrument of any kind, or has been reduced to judgment; (j) the Account is an Account of an Account Debtor having its principal place of business or executive office outside the United States; (k) the Account Debtor is an Affiliate or Subsidiary of Borrower; (l) more than ten percent (10%) of the aggregate balance of all Accounts owing from the Account Debtor obligated on the Account are outstanding more than one hundred fifty (150) days past their invoice date; (m) fifty percent (50%) or more of the aggregate unpaid Accounts from any individual Account Debtor are not deemed Qualified Accounts hereunder; (n) the total unpaid Accounts of the Account Debtor, except for a Medicaid/Medicare Account Debtor, exceed twenty percent (20%) of the net amount of all Qualified Accounts (including Medicaid/Medicare Account Debtors); (o) any covenant, representation or warranty contained in the Loan Documents with respect to such Account has been breached; or (p) the Account fails to meet such other specifications and requirements which may from time to time be established by Lender.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Eligible Unbilled Accounts means Accounts of the Obligors that does not qualify as an Eligible Account solely because (a) the goods giving rise to such Account have not been shipped and billed to the Account Debtor, or (b) the services giving rise to such Account have not been performed and billed to the Account Debtor and, in either case, so long as such Accounts have not been unbilled for more than thirty (30) days. For the avoidance of doubt, at such time as an Account is billed to the Account Debtor it shall no longer be an “Eligible Unbilled Account”.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Eligible Investments Any one or more of the obligations and securities listed below which investment provides for a date of maturity not later than the Determination Date in each month:

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Eligible Accounts means Accounts which arise in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time after the Effective Date to adjust any of the criteria set forth below and to establish new criteria in its good faith business judgment. Unless Bank otherwise agrees in writing, Eligible Accounts shall not include:

  • Investment Account As defined in Section 3.12(a).

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Insured Amounts means, with respect to any Distribution Date, the Deficiency Amount for such Distribution Date.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Management Accounts means unaudited accounts which shall incorporate a profit and loss statement, cash flow statement and balance sheet.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • Issuer Accounts means, collectively, the Excess Funding Account, the Collection Account and any Supplemental Issuer Account, including any Sub-Accounts thereof.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Separate Accounts means the accounts which are to be prepared for each