Eligible Loan Receivable definition

Eligible Loan Receivable means as to each [Loan] [Receivable] as of the Cut-off Date:

Eligible Loan Receivable means any Loan Receivable of the Borrower which:

Eligible Loan Receivable means a loan which (i) arose in the ordinary course of the payday lending, installment lending or the title loan and auto loan finance business; (ii) is not more than ten (10) days past due; (iii) is not subject to a claim or threat of a defense or set-off; (iv) is not due from a debtor that is deceased or dissolved or which is subject to a bankruptcy, insolvency, receivership or similar proceeding; (v) is not owed by an Affiliate; (vi) is not unacceptable to the Agent in the exercise of its reasonable credit judgment; and (vii) is subject to a first-perfected security interest held by the Agent for the benefit of the Lenders; provided, however, any loan, or portion of a loan, which is (x) a title loan that results in the total amount of title loans exceeding ten percent (10%) of total loans, (y) an installment loan originated in connection with the sale of an automobile through the Borrower’s auto sales subsidiaries that results in the total amount of such loans exceeding ten percent (10%) of total loans, or (z) the rollover of a previous loan and results in the total amount of rollover loans exceeding thirty percent (30%) of total loans, shall not constitute Eligible Loan Receivable.

Examples of Eligible Loan Receivable in a sentence

• No provision of a [Loan] [Receivable], as of the Cut-off Date, has been waived, altered or modified in any respect, except pursuant to a document, instrument or writing included in the [Loan] [Receivable] Files and no such amendment, waiver, alteration or modification causes such [Loan] [Receivable] not to be an Eligible [Loan] [Receivable].

• No provision of a CEF Asset, as of the Cut-off Date, has been waived, altered or modified in any respect, except pursuant to a document, instrument or writing included in the [Loan] [Receivable] Files and no such amendment, waiver, alteration or modification causes such CEF Asset not to be an Eligible [Loan] [Receivable].

• All references in the Credit Agreement to Eligible Loan Receivable and Security Value of Eligible Loans Receivable shall hereafter be deemed to be references, respectively, to Eligible Asset Based Loan Receivable and Security Value of Eligible Asset Based Loans Receivable.

• No provision of a Purchaser Asset, as of the Cut-off Date, has been waived, altered or modified in any respect, except pursuant to a document, instrument or writing included in the [Loan] [Receivable] Files and no such amendment, waiver, alteration or modification causes such Purchaser Asset not to be an Eligible [Loan] [Receivable].

More Definitions of Eligible Loan Receivable

Eligible Loan Receivable means a loan which (i) arose in the ordinary course of the payday lending and title loan business; (ii) is not more than ten (10) days past due; (iii) is not subject to a claim or threat of a defense or set-off; (iv) is not due from a debtor that is deceased or dissolved or which is subject to a bankruptcy, insolvency, receivership or similar proceeding; (v) is not owed by an Affiliate; (vi) is not unacceptable to the Agent in the exercise of its reasonable credit judgment; and (vii) is subject to a first-perfected security interest held by the Agent for the benefit of the Banks; provided, however, any loan, or portion of a loan, which is (x) a title loan that results in the total amount of title loans exceeding ten percent (10%) of total loans, or (y) the rollover of a previous loan and results in the total amount of rollover loans exceeding thirty percent (30%) of total loans, shall not constitute Eligible Loan Receivable.

Eligible Loan Receivable means as to each CEF Asset as of the Closing Date:

Eligible Loan Receivable means any Eligible Commercial Loan Receivable and Eligible Leveraged Term Loan Receivable.

Eligible Loan Receivable means a Loan Receivable that meets all of the following requirements on its date of origination and continuing thereafter until collected:

Eligible Loan Receivable means as to each Purchaser Asset as of the Closing Date:

Eligible Loan Receivable means a Loan Receivable (valued at the lesser of (i) the outstanding principal balance thereof, (ii) its fair value as reflected in the Borrower’s most recent SEC filing that addresses the fair value of FCC Loans or, if a particular FCC Loan is not referenced in such filing, as reflected in the Borrower’s records and (iii) the amount determined by the Agent based upon its assessment of the quality and nature of the underlying FCC Loan) that meets all of the following requirements on its date of origination and continuing thereafter until collected:

Eligible Loan Receivable means a loan which (i) arose in the ordinary course of the payday lending, installment lending or the title loan finance business; (ii) is not more than ten (10) days past due; (iii) is not subject to a claim or threat of a defense or set-off; (iv) is not due from a debtor that is deceased or dissolved or which is subject to a bankruptcy, insolvency, receivership or similar proceeding; (v) is not owed by an Affiliate; (vi) is not unacceptable to the Agent in the exercise of its reasonable credit judgment; and (vii) is subject to a first-perfected security interest held by the Agent for the benefit of the Lenders; provided, however, any loan, or portion of a loan, which is (x) a title loan that results in the total amount of title loans exceeding ten percent (10%) of total loans and factoring receivables, or (y) the rollover of a previous loan and results in the total amount of rollover loans exceeding thirty percent (30%) of total loans and factoring receivables, shall not constitute an Eligible Loan Receivable.