Eligible Obligor definition

Eligible Obligor. On any date of determination, any Obligor that:

Eligible Obligor means, on any day, any Obligor that satisfies each of the following requirements:

Eligible Obligor means, as of any date of determination, each Obligor in respect of a Receivable that satisfies the following eligibility criteria:

Examples of Eligible Obligor in a sentence

• Each Originator shall ensure that at least 95% of the amount of Collections owed to it by any Eligible Obligor (or any obligor under or in connection with the Purchased Receivables) is credited into a Dedicated Collection Account in the name of such Originator which is subject to a Security under an Account Pledge Agreement.

• None of the Originators or the Servicers shall (whether voluntary or involuntary) sell, assign, transfer, subrogate, enter into any factoring or invoice discounting transaction or otherwise dispose of any Receivable owed by any Eligible Obligor (other than Ineligible Receivables for Purchase), except in accordance with the Transaction Documents.

• Each Originator has conveyed to the Company all Receivables owing from an Eligible Obligor (other than a Designated Excluded Obligor) originated by such Originator that at any time constituted or, upon the direct or indirect conveyance to the Company would constitute, Eligible Receivables.

• As of the date of each Obligor’s application for credit from which the Related Receivable arises, such Obligor was an Eligible Obligor.

• Deliver to each purchaser designated as an Eligible Obligor in respect of a Scheduled Receivable the Irrevocable Payment Instructions in the applicable invoice to make payment to the relevant Collection Account.

More Definitions of Eligible Obligor

Eligible Obligor. Any Obligor:

Eligible Obligor. On any Measurement Date, any Obligor that:

Eligible Obligor means, on any day, any Obligor that (i) is a business organization (and not a natural person) that is duly organized and validly existing under the laws of, the United States or any State thereof (or any other Eligible Jurisdiction), (ii) is a legal operating entity or holding company, (iii) is not an Official Body and (iv) is not an Affiliate of, or controlled by, the Borrower, the Investment Manager or the Equityholder.

Eligible Obligor means on any day, any Obligor that satisfies each of the following requirements:

Eligible Obligor means, at any time, any Obligor:

Eligible Obligor means, on any day, any Obligor that (i) is a Person (other than a natural person) that is duly organized and validly existing under the laws of, the United States or any State thereof, (ii) is a legal operating entity or holding company, (iii) is not an Official Body, and (iv) is not an Affiliate of, or controlled by, the Borrower, the Servicer or the Equityholder.

Eligible Obligor means, on any day, any Obligor that satisfies each of the following requirements (unless specifically determined to be an Eligible Obligor by Required Lenders following a review thereof on a case-by-case basis):