Eligible Notes Receivable definition

Eligible Notes Receivable means those Notes Receivable that comply with each of the representations and warranties respecting Eligible Notes Receivable made in the Loan Documents, and that are not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, however, that such criteria may be modified from time to time by Agent in Agent’s Permitted Discretion; provided further, that so long as no Default or Event of Default has occurred and is continuing, Agent shall first notify and attempt to discuss with Borrower any such modification that Agent proposes to make to such criteria unless Agent, in its Permitted Discretion, believes that exigent circumstances justify the immediate modification of such criteria. Eligible Notes Receivable shall not include a Note Receivable (unless specifically determined to be an Eligible Note Receivable by Agent following a review thereof on a case-by-case basis) if:

Eligible Notes Receivable means those Notes Receivable that comply with each of the representations and warranties respecting Eligible Notes Receivable made in the Loan Documents, and that are not excluded as wholly or partially ineligible by virtue of one or more of the excluding criteria set forth below. Eligible Notes Receivable shall not include all or any portion of a Note Receivable (unless specifically determined to be eligible by Agent following a review thereof on a case-by-case basis) unless, in each case:

Eligible Notes Receivable means, subject to the next sentence, the outstanding principal amount of those Notes Receivable which comply with each of the representations and warranties in Section 3.18 hereof and each of the other representations and warranties relating to Eligible Notes Receivable contained herein and in the other Loan Documents, that are owned by Borrower in which Agent holds (and continuously maintains) a perfected first-priority security interest and that have been collaterally assigned to Agent (and in any event shall not include any unfunded commitment or other obligation of Borrower under any Loan Paper). Notwithstanding the foregoing, Eligible Notes Receivable shall not include a Note Receivable:

Examples of Eligible Notes Receivable in a sentence

• Use the proceeds of the Advances for any purpose other than to finance Borrower’s acquisition of Eligible Notes Receivable and to pay transactional fees, costs, and expenses incurred in connection with this Agreement, the other Loan Documents, and the transactions contemplated hereby and thereby, to make Restricted Payments permitted under Section 7.10 and for any other purpose not expressly prohibited by this Agreement.

• The proceeds of the Loans shall be used by Borrower to finance Eligible Notes Receivable.

• Simultaneously with the delivery by Borrower to Lender of such new Eligible Notes Receivable, Borrower will deliver to Lender all of the items (except for a Request for Loan Advance) required to be delivered by Borrower to Lender pursuant to Section 4.2, together with a “Borrower's Certificate” in form and substance identical to Exhibit E attached hereto.

• Simultaneously with the delivery of Eligible Notes Receivable to correct a Borrowing Base Shortfall, Borrower will deliver to Lender all of the items (except for a Request for Loan Advance) required to be delivered by Borrower to Lender pursuant to Section 4.2, together with a "Borrower's Certificate" in form and substance identical to Exhibit E.

• Simultaneously with the delivery of Eligible Notes Receivable to correct a Borrowing Base Shortfall, Borrower will deliver to Lender all of the items (except for a Request for Loan Advance) required to be delivered by Borrower to Lender pursuant to Section 4.2, together with a “Borrower's Certificate” in form and substance identical to Exhibit E.

More Definitions of Eligible Notes Receivable

Eligible Notes Receivable means all Notes Receivable except:

Eligible Notes Receivable means those Notes Receivable that comply with each of the representations and warranties respecting Eligible Notes Receivable made in the Loan Documents, and that are not excluded as ineligible by virtue of one or more of the excluding criteria set forth below; provided, however, that such criteria may be modified from time to time by Required Lenders in their Permitted Discretion; provided further, that so long as no Default or Event of Default has occurred and is continuing, Required Lenders shall first notify and attempt to discuss with Borrower any such modification that Required Lenders propose to make to such criteria unless Required Lenders, in their Permitted Discretion, believe that exigent circumstances justify the immediate modification of such criteria. Eligible Notes Receivable shall not include a Note Receivable (unless specifically determined to be an Eligible Note Receivable by Required Lenders following a review thereof on a case-by-case basis) if:

Eligible Notes Receivable means at the time of any determination thereof, the Notes Receivable of the Borrower and the Restricted Subsidiaries (at least 85% of which the Purchasers in respect thereof are residents of the United States, Puerto Rico, the United States Virgin Islands or Canada) which are reasonably acceptable to the Determining Lenders in their discretion for the purposes of determining the Borrowing Base and as to which the following requirements have been fulfilled with respect to each Note Receivable:

Eligible Notes Receivable means, subject to the next sentence, the outstanding principal amount of those Notes Receivable which comply with each of the representations and warranties in Section 3.18 hereof and each of the other representations and warranties relating to Eligible Notes Receivable contained herein and in the other Loan Documents, that are owned by Borrower in which Agent holds (and continuously maintains) a perfected first-priority security interest and that have been collaterally assigned to the Agent (and in any event shall not include any unfunded commitment or other obligation of Borrower under any Loan Paper). Notwithstanding the foregoing, Eligible Notes Receivable shall not include a Note Receivable:

Eligible Notes Receivable means at the time of any determination thereof, ------------------------- the Notes Receivable of the Borrower and the Restricted Subsidiaries which are reasonably acceptable to the Determining Lenders in their discretion for the purposes of determining the Borrowing Base and as to which the following requirements have been fulfilled with respect to each Note Receivable:

Eligible Notes Receivable means, at any date of determination thereof, all Eligible Notes Receivable as defined in the CIS Financing Agreement as follows:

Eligible Notes Receivable means any such Notes Receivable which (a) are 100% owned by a Loan Party; (b) are subject to no Lien, other than an assignment for the benefit of the Lenders; (c) have been validly assigned to the Administrative Agent, for the benefit of the Lenders, pursuant to the procedures set forth in Section 6.13(b); (d) represent performing loans owed to a Loan Party that are not in default and under which payments are not more than 30 days past due, (e) are secured by Real Property, Unimproved Land or other collateral acceptable to the Administrative Agent in its sole discretion; (f) are not Intercompany Notes Receivable; (g) are not Notes Receivable of an obligor that is an Affiliate of a Loan Party or a Subsidiary; and (h) which are otherwise reasonably acceptable to the Administrative Agent, taking into account factors such as the payment term of the Notes Receivable, the financial stability of the obligor thereunder, the recourse nature of the obligation, and the value of the collateral securing such Notes Receivable.