Eligible Investment Grade Accounts definition

Eligible Investment Grade Accounts means, at any time, any Eligible Accounts in respect of which the Account Debtor has an Investment Grade Rating as of the date of delivery of the applicable Borrowing Base Certificate.

Eligible Investment Grade Accounts means Eligible Accounts owing by an Account Debtor that has a corporate family rating that is an Investment Grade Rating or an equivalent rating.

Eligible Investment Grade Accounts means all Eligible Accounts for which the Account Debtor in respect thereof has an Investment Grade Rating.

Examples of Eligible Investment Grade Accounts in a sentence

• In determining which Accounts are either Eligible Accounts or Eligible Investment Grade Accounts, Administrative Agent may rely on all statements and representations made by Borrowers with respect thereto.

• Subject to Section 16.2(a)(iv)(C), Administrative Agent alone shall be authorized to determine whether any Accounts constitute Eligible Accounts or Eligible Investment Grade Accounts or whether to impose or release any Reserve, which determinations and judgments, if exercised in good faith, shall exonerate Administrative Agent from liability to any other Secured Party or other Person for any error in judgment.

• For the avoidance of doubt, assets of the Puerto Rican Loan Parties that would otherwise constitute Eligible Accounts, Eligible Credit Card Accounts Receivable, Eligible Investment Grade Accounts, Eligible Uninvoiced Accounts, Eligible Inventory or Eligible LC Inventory and could be included in the Puerto Rican Borrowing Base shall be included in the Puerto Rican Borrowing Base solely at the election of the Company.

• For the avoidance of doubt, assets of the Canadian Loan Parties that would otherwise constitute Eligible Accounts, Eligible Credit Card Accounts Receivable, Eligible Investment Grade Accounts, Eligible Uninvoiced Accounts Receivable, Eligible Inventory or Eligible LC Inventory and could be included in the Canadian Borrowing Base shall be included in the Canadian Borrowing Base solely at the election of the Company.

• The percentage of the total value of Eligible Investment Grade Accounts, Eligible non-Investment Grade Accounts, Eligible Inventory, or Other Collateral that Bank will lend to Borrower, as set forth in Section DD.02.

More Definitions of Eligible Investment Grade Accounts

Eligible Investment Grade Accounts means, with respect only to each Borrower’s Accounts, the aggregate face amount thereof, net of (i) any returns, rebates, discounts (calculated on the shortest terms), credits, or allowances (which have been or could be claimed by the Account Debtor or any other Person), (ii) any Taxes (including sales, excise, or other taxes), and (iii) any finance or interest charges, or late payment charges, but excluding therefrom, however, without duplication, each Account (or, where expressly stated below, any portion thereof):

Eligible Investment Grade Accounts means any Eligible Accounts owing from an Account Debtor that has a corporate family rating of at least BBB- by S&P and Baa3 Xxxxx’x. 17 119482860_14 #193013499_v7

Eligible Investment Grade Accounts means, at any time, all Eligible Accounts owned by a Loan Party and owing by an Account Debtor who has an Investment Grade Rating.

Eligible Investment Grade Accounts means Eligible Canadian Investment Grade Accounts and Eligible US Investment Grade Accounts.

Eligible Investment Grade Accounts. Eligible Accounts owing by an Account Debtor whose senior unsecured debt rating (or, in the case of an Account Debtor which is a direct or indirect Subsidiary of a parent company, whose parent company’s senior unsecured debt rating) from S&P is BBB- or higher or the equivalent thereof or from Xxxxx’x is Baa3 or higher or the equivalent thereof.

Eligible Investment Grade Accounts means an Account (a) that satisfies all of the criteria set forth in the definition of Eligible Accounts other than clause (f) of such definition, and (b) is owed by an Account Debtor that is an Eligible Investment Grade Account Debtor; provided. however, that such criteria may be revised from time to time by Agent in Agent’s Permitted Discretion to address the results of any audit performed by Agent from time to time after the Closing Date. In determining the amount to be included, Eligible Investment Grade Accounts shall be calculated net of customer deposits and unapplied cash.

Eligible Investment Grade Accounts means Eligible Accounts owed to a Borrower by (a) an Account Debtor that is rated (or whose direct or indirect parent entity is rated) BBB- or better by S&P or Baa3 or better by Xxxxx'x or (b) such other Account Debtor approved by Agent in its sole discretion.