Eligible Lease Receivable definition

Eligible Lease Receivable. A Lease Receivable that is derived from an Eligible Lease Contract.
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Eligible Lease Receivable means, at any time, a Lease Receivable:
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Eligible Lease Receivable means, at any time, a Lease Receivable: -------------------------
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Examples of Eligible Lease Receivable in a sentence

  • As of the date of each Borrowing Base Certificate delivered to Lender, and subject to Lender's determination in its sole discretion, each Lease Receivable listed thereon as an Eligible Lease Receivable is an Eligible Lease Receivable.

  • In determining whether a particular Lease Receivable of any Borrower constitutes an Eligible Lease Receivable, Administrative Agent and Revolver Agent shall not include any such Lease Receivable to which any of the exclusionary criteria set forth below applies.

  • Borrower shall notify Lender promptly of any event or circumstance which, to Borrower's knowledge would cause Lender to consider any then existing Lease Receivable as no longer constituting an Eligible Lease Receivable.

  • Each Lease Receivable included as an Eligible Lease Receivable in the calculation of the Senior Borrowing Base in each Servicer Report satisfied the requirements of eligibility contained in the definition of "Eligible Receivable" as of the date of such Servicer Report.

  • Borrower has not received notice of actual or imminent Insolvency Proceeding of any account debtor whose accounts are included in the most recent Borrowing Base Certificate as an Eligible Account and/or Eligible Lease Receivable.

  • Receivables Once per calendar month, Borrower may request the release of the Lender's security interest in those Eligible Lease Receivables which no longer meet the qualifications of an Eligible Lease Receivable and are no longer listed in any Lease Certificate or Borrowing Base Certificate upon which a Revolving Credit Advance has been based (an "Ineligible Lease Receivable").

  • Eligible Lease Receivable" contained in Section ------------------------- 1.01 of the Lease Receivables Transfer Agreement is hereby amended to delete the word "equal" contained in the first line of subparagrah (iv) thereof.

  • On each Settlement Date, the Borrower --------------------- shall be obligated to prepay the Advances by an amount equal to the amount of any Lease Receivable which did not constitute an Eligible Lease Receivable on the date such Lease Receivable became a Pledged Lease Receivable if the effect of excluding such Lease Receivable from the Net Receivables Balance causes the Borrowing Base to be less than the amount of Capital.

  • Promptly after receiving notice or otherwise become aware thereof, notify the Lender in writing that a Lease Receivable that the Borrower has represented or warranted to the Lender to be an Eligible Lease Receivable has ceased to be an Eligible Lease Receivable for any reason whatsoever.


More Definitions of Eligible Lease Receivable

Eligible Lease Receivable means, at any time, a Lease Receivable which would be an "Eligible Lease Receivable" under the Credit Agreement.
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Eligible Lease Receivable means a Lease Receivable which meets all of the eligibility requirements set forth in paragraph 5 below on the applicable Purchase Date.
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Eligible Lease Receivable means, with respect to a Lease ------------------------- Receivable as of the day it is initially included as a Pledged Asset:
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Related to Eligible Lease Receivable

  • Mortgage Receivable means a promissory note secured by a Mortgage of which the Borrower or a Subsidiary is the holder and retains the rights of collection of all payments thereunder.

  • Eligible Receivable means, at any time, a Receivable:

  • Eligible Account Receivable means an Account Receivable owing to the Company or any Domestic Subsidiary which meets the following requirements:

  • Interest Receivable means, in respect of the relevant Measurement Period ending on any Measurement Date, all interest received by or accrued to the Issuer during such period, including any amounts received by the Issuer in terms of any Treasury Transaction (as such relates to the hedging by the Issuer of its interest rate risk) (other than interest which is not received or receivable in funds that are freely remittable to South Africa), all as reflected in, and/or ascertained from, the Financial Statements for that Measurement Period;

  • Current Receivable means each Receivable that is not a Defaulted Receivable or a Liquidated Receivable.

  • Eligible Receivables means and include with respect to each Borrower, each Receivable of such Borrower arising in the Ordinary Course of Business and which Agent, in its sole credit judgment, shall deem to be an Eligible Receivable, based on such considerations as Agent may from time to time deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by an invoice or other documentary evidence satisfactory to Agent. In addition, no Receivable shall be an Eligible Receivable if:

  • Net Receivables Balance means, at any time, the aggregate Outstanding Balance of all Eligible Receivables at such time reduced by the aggregate amount by which the Outstanding Balance of all Eligible Receivables of each Obligor and its Affiliates exceeds the Concentration Limit for such Obligor.

  • Ineligible Receivable shall have the meaning specified in subsection 2.04(d)(iii).

  • Eligible Unbilled Receivable means, at any time, any Unbilled Receivable if (a) the related Originator has recognized the related revenue on its financial books and records under GAAP, and (b) not more than thirty (30) days have expired since the date such Unbilled Receivable arose.

  • Delinquent Receivable means a Receivable as to which any payment, or part thereof, remains unpaid for 61 days or more from the original due date for such payment.

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Eligible Accounts Receivable means Accounts, Instruments, Documents, Chattel Paper, Contracts, and General Intangibles from customers of Borrowers or any Approved Subsidiary in which Bank has a perfected first priority security interest subject to Bank's credit approvals thereof other than the following: (i) Accounts which remain unpaid ninety (90) days after the date of the applicable invoice; (ii) Accounts with respect to which the Account Debtor is an Affiliate of any of the Borrowers, or a director, officer or employee of any of the Borrowers; (iii) Accounts with respect to which the Account Debtor is the United States of America or any department, agency or instrumentality thereof, unless filings in accordance with the Assignment of Claims Act have been completed and filed in a manner satisfactory to the Agent or, as to any government contract entered into after the date of this Agreement, concurrently with the execution and delivery of that government contract; (iv) Accounts with respect to which the Account Debtor is not a resident of the United States or Canada except if such Accounts (1) are secured by irrevocable trade letter(s) of credit in form and content acceptable to Bank and confirmed by a United States financial institution acceptable to Bank, (2) are secured by standby letters of credit with an expiration of date of at least one hundred twenty (120) days from the date of shipment confirmed by United States Bank acceptable to Bank and otherwise in form and content acceptable to Bank, or (3) are insured by a company acceptable to Bank, which insurance covers business and political risk; (v) Accounts arising with respect to goods which have not been shipped and delivered to and accepted as satisfactory by the Account Debtor or arising with respect to services which have not been fully performed and accepted as satisfactory by the Account Debtor; (vi) Accounts for which the prospect of payment in full or performance in a timely manner by the Account Debtor is or is likely to become impaired as determined by the Bank in its reasonable discretion; (vii) Accounts which are not invoiced (and dated as of the date of such invoice) and sent to the Account Debtor within fifteen (15) days after delivery of the underlying goods to, or performance of the underlying services for, the Account Debtor; (viii) Accounts with respect to which Bank does not have a first and valid fully perfected security interest; (ix) Accounts with respect to which the Account Debtor is the subject of bankruptcy or a similar insolvency proceeding or has made an assignment for the benefit of creditors or whose assets have been conveyed to a receiver or trustee, except if Bank is delivered evidence acceptable to Bank as to the collectability in the normal course of business of such Accounts; (x) Accounts with respect to which the Account Debtor's obligation to pay the Account is conditional upon the Account Debtor's approval or is otherwise subject to any repurchase obligation or return right, as with sales made on a xxxx-and-hold, guaranteed sale, sale-and-return, sale on approval (except with respect to Accounts in connection with which Account Debtors are entitled to return Inventory solely on the basis on the quality of such Inventory) or consignment basis; (xi) Accounts with respect to which the Account Debtor is located in Minnesota unless the applicable Borrower has filed a Notice of Business Activities Report with the Secretary of State of Minnesota for the then current year; (xiv) all Accounts of any Account Debtor if twenty-five percent (25.0%) or more of all Accounts of such Account Debtor have ceased to be Eligible Accounts Receivable; and (xii) Accounts with respect to which the Account Debtors are residents of Canada to the extent the aggregate sum exceeds $750,000.00. The approvals of Account Debtors and Accounts shall be for Bank purposes only and shall not constitute any representation by Bank as to the credit worthiness of any such Account Debtor or the advisability or profitability of doing business with such Account Debtor.

  • Account Receivable means, with respect to any Person, any and all rights of such Person to payment for goods sold and/or services rendered, including accounts, general intangibles and any and all such rights evidenced by chattel paper, instruments or documents, whether due or to become due and whether or not earned by performance, and whether now or hereafter acquired or arising in the future, and any proceeds arising therefrom or relating thereto.

  • Subsequent Receivables means the Receivables transferred to the Issuer pursuant to Section 2.2, which shall be listed on Schedule A to the related Subsequent Transfer Agreement.

  • Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

  • Unbilled Receivable means, at any time, any Receivable as to which the invoice or xxxx with respect thereto has not yet been sent to the Obligor thereof.

  • Transferred Receivable means a Purchased Receivable or a Contributed Receivable.

  • Settlement Receivable means any general intangible, payment intangible, or instrument representing or reflecting an obligation to make payments to or for the benefit of a Person in consideration for a Settlement made or arranged, or to be made or arranged, by such Person.

  • Net Receivables Pool Balance means, at any time: (a) the Outstanding Balance of Eligible Receivables then in the Receivables Pool minus (b) the Excess Concentration.

  • Review Receivable has the meaning designated in Section 1.02 of the Asset Representations Review Agreement.

  • Principal Receivable means each Receivable other than Finance Charge -------------------- Receivables and Receivables in Defaulted Accounts. A Principal Receivable shall be deemed to have been created at the end of the day on the Date of Processing of such Receivable. In calculating the aggregate amount of Principal Receivables on any day, the amount of Principal Receivables shall be reduced by the aggregate amount of credit balances in the Accounts on such day. Any Principal Receivables which Seller is unable to transfer as provided in Section 2.5(c) of -------------- the Transfer and Servicing Agreement shall not be included in calculating the aggregate amount of Principal Receivables.

  • Receivable any right to payment for goods sold or leased or for services rendered, whether or not such right is evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including, without limitation, any Account).

  • Subject Receivables has the meaning assigned to such term in the Asset Representations Review Agreement.

  • Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method.

  • Sold Receivable means a Receivable that was more than 60 days delinquent and was sold to an unaffiliated third party by the Issuer, at the Servicer’s direction, as of the close of business on the last day of a Collection Period and in accordance with the provisions of Section 4.3(c) hereof.

  • Repurchased Receivable means a Receivable purchased by Santander Consumer pursuant to Section 3.4 of the Purchase Agreement or by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement.