Eligible M&E means, with respect to the Loan Parties, Equipment owned by a Loan Party; provided that no Equipment shall be Eligible M&E if:
Eligible M&E means first quality Equipment, used in the ordinary course of Borrowers’ business, owned by Borrowers as of the Closing Date and at all times thereafter, and that complies in all material respects with each of the representations and warranties respecting Eligible M&E made in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below. An item of Equipment shall not be included in Eligible M&E if:
Eligible M&E means M&E owned by a Borrower and located in the United States, which satisfies each of the following requirements:
Examples of Eligible M&E in a sentence
The Borrowers shall reimburse Agent for all reasonable charges, costs and expenses related to the initial appraisals of the M&E included in the PP&E Component and to any appraisal of M&E of the kind described in the definition of “PP&E Component” in connection with a Borrower-requested reset of the NOLV of Eligible M&E.
As to each item of M&E that is identified by Borrowers as Eligible M&E in a Borrowing Base Certificate submitted to Agent, such M&E is not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible M&E.
More Definitions of Eligible M&E
Eligible M&E means M&E of a Borrower, that complies with each of the representations and warranties respecting Eligible M&E made in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised from time to time by Agent in Agent’s Permitted Discretion to address the results of any due diligence information with respect to the Borrowers’ business or assets of which Agent becomes aware after the Closing Date, including any field examination or appraisal performed or received by Agent from time to time after the Closing Date. An item of M&E shall not be included in Eligible M&E if:
Eligible M&E means M&E of a Borrower as of the Closing Date, that complies with each of the representations and warranties respecting Eligible M&E made in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised from time to time by Agent in Agent’s Permitted Discretion to address the results of any due diligence information with respect to the Borrowers’ business or assets of which Agent becomes aware after the Closing Date, including any field examination or appraisal performed or received by Agent from time to time after the Closing Date. An item of M&E shall not be included in Eligible M&E if:
Eligible M&E means M&E of a Domestic Loan Party, that complies with each of the representations and warranties in respect of Eligible M&E made in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, that such criteria may be revised from time to time by the Administrative Agent in the Administrative Agent's Permitted Discretion to address the results of any due diligence information with respect to the Domestic Loan Parties' business or assets of which the Administrative Agent becomes aware after the Closing Date, including any appraisal performed or received by the Administrative Agent from time to time after the Closing Date. An item of M&E shall not be included in Eligible M&E if:
Eligible M&E means, at any time, all M&E of the Borrower and each Subsidiary Guarantor; provided, that Eligible M&E shall not include any M&E (without duplication of any Reserves established):
Eligible M&E means, as of the date of determination thereof, the Equipment owned by a Loan Party (other than Parent) that satisfies each of the following criteria set forth below:
Eligible M&E as to any Borrower means at any time all Equipment owned by such Borrower consisting of machinery and equipment which is acceptable to Lender in its discretion for inclusion as Eligible M&E and in which Lender has a perfected first, prior and exclusive security interest pursuant to documentation satisfactory to Lender.
Eligible M&E has the meaning ascribed to it in Schedule 1 to Exhibit 4.9(d).