Examples of Eligible Payor in a sentence

Upon any such termination, the Collateral Agent will, at the direction of the Required Lenders and at the sole expense of the Borrower, execute and deliver to the Eligible Payor (as defined in the FF&E Intercreditor Agreement) such documents as the Eligible Payor (as defined in the FF&E Intercreditor Agreement) shall reasonably request to evidence such termination.
The FF&E Agent hereby grants the Eligible Payor the right (without any obligation) to pay off in cash, at any time when an Event of Default has occurred and is continuing under the FF&E Facility Agreement, all, but not less than all, of the principal of and interest on all FF&E Component Secured Obligations outstanding at the time of payment.

More Definitions of Eligible Payor

Eligible Payor means (a) from the date of the initial Advance under the Bank Credit Facility until the Discharge of the Bank Secured Obligations, (i) the Bank Agent (acting on behalf of and, to the extent applicable, at the instruction of, the Bank Lenders in accordance with the Bank Financing Agreements) and (ii) from and after the expiration of 180 days following the occurrence of the Event of Default giving rise to the Default Payoff Option, any Person or Persons at any time or from time to time designated by holders of at least 25% in outstanding principal amount of the Second Mortgage Notes, voting as a single class, as entitled to exercise the Default Payoff Option and (b) at any other time, any Person or Persons at any time or from time to time designated by the holders of at least 25% in outstanding principal amount of the Second Mortgage Notes, voting as a single class, as entitled to exercise the Default Payoff Option and, in each case, any nominee or designee of the foregoing.

Eligible Payor means a Payor which is (a) (i) a corporation, limited liability company, partnership or any statutory organization organized under the laws of any jurisdiction in the United States and having its principal office in the United States or which is otherwise approved in writing by the Purchaser; (ii) an individual or sole proprietorship which is a resident of any jurisdiction in the United States or which is otherwise approved in writing by the Purchaser; (iii) a Clearinghouse Agent; or (iv) a Billing and Collection Agent; (b) not an Affiliate of any of the parties hereto; (c) has executed and delivered to the Seller either (i) a Contract, (ii) an LOA, (iii) a Clearinghouse Agreement or (iv) a Billing and Collection Agreement; (d) not subject to bankruptcy or insolvency proceedings at the time of sale of the Receivables to be purchased; (e) the only obligor with respect to Receivables in which the Purchaser has a first priority perfected ownership interest; and (f) the only obligor with respect to a Receivable and has not otherwise assigned, transferred or compromised its obligation to make payment on any Receivable.

Eligible Payor has the meaning set forth in Section 3.3(e)(i).

Eligible Payor means the Persons listed on Schedule 3.3(e) attached hereto and their respective current and future Affiliates.

Eligible Payor means a Payor which is (a) (i) a corporation, limited liability company, partnership or any statutory organization organized under the laws of any jurisdiction in the United States and having its principal office in the United States, (ii) an individual or sole proprietorship which is a resident of any jurisdiction in the United States, or (iii) a Billing and Collection Agent; (b) not an Affiliate of any of the parties hereto other than Textron Financial Corporation or any Affiliate thereof; (c) has executed and delivered to the Seller a copy of any related Contract or Billing and Collection Agreement; and (d) not subject to bankruptcy or insolvency proceedings at the time of sale of the Receivables to be purchased.

Eligible Payor means the obligor of an Eligible Account.