Eligible Purchase Order definition

Eligible Purchase Order means a Purchase Order, which satisfies the following conditions as determined by Lender in its sole discretion:

Eligible Purchase Order means each Purchase Order of each Company which conforms to the following criteria: (a) such Company has irrevocably directed the Approved Leasing Company to make payments of all amounts due under such Purchase Order to the Lockboxes, (b) copies of such Purchase Order and an Approved Lease covering the Products listed in such Purchase Order shall be in form and substance satisfactory to the Agent, (c) the Products set forth in such Purchase Order have been shipped to the applicable Golf Course Customer and the Agent has received satisfactory evidence of such shipment, (d) such Purchase Order shall not be unpaid more than thirty (30) days from the date the Products listed in such Purchase Order have been shipped to the applicable Golf Course Customer, (e) such Purchase Order has not been cancelled by the Approved Leasing Company or the Golf Course Customer named thereon, (f) the Golf Course Customer to whom the Products listed in such Purchase Order have been shipped has not notified the Approved Leasing Company that it is not accepting such Products, (g) if an Approved Leasing Company has succeeded to the rights of the lessor named in the Approved Lease covering the Products listed in such Purchase Order pursuant to an assignment of such Approved Lease by ProLink Solutions, LLC, d/b/a ProLink Capital, the consideration paid by the Approved Leasing Company to ProLink Solutions, LLC, d/b/a ProLink Capital, under such assignment shall not be less than the amount due under such Purchase Order, (h) the Agent has taken such action as it chooses to verify the validity of such Purchase Order which verification may include, without limitation, direct confirmation from the Approved Leasing Company and/or the Golf Course Customer, (i) such Purchase Order, the Products listed thereon and the related Purchase Order Proceeds are free and clear of all Liens except Permitted Liens, and (j) such Purchase Order is otherwise satisfactory to the Agent as determined by the Agent in the exercise of its sole discretion.

Eligible Purchase Order means a purchase order that (i) is from an Eligible Vendor and (ii) is issued pursuant to and complies with the terms and conditions of an Eligible Supply Agreement. No purchase order shall qualify as an Eligible Purchase Order as of any date of determination if (i) the aggregate amount of Vendor Payment Financing Loans outstanding as of such date exceeds$500,000 or (ii) Borrower is, or as a result of such additional Eligible Purchase Order Exposure will be, in breach of Section 8.15(c) of this Agreement. Vendor Financing Agreement, Exhibit B, § 5.12(i).

Examples of Eligible Purchase Order in a sentence

• When Bank makes a Purchase Order Advance, the Eligible Purchase Order becomes a “Financed Receivable”.

• Bank may, in its sole discretion, change the Advance Rate for a particular Eligible Purchase Order on a case by case basis.

• Bank may, in its sole discretion, change the percentage of the Advance Rate for a particular Eligible Purchase Order on a case by case basis.

• Two possible reasons: 1) No activity ongoing, 2) FFP people dislike internet and CEN WEB page (??) No answer from: the TC121 chairman and secretary, Italian repr.

• Although the Lender-Owners were not parties to the Master Supplier Agreement, such agreement provided that if Charming Charlie failed to pay Tanya for any Eligible Purchase Order, the Lender-Owners shall pay Tanya the outstanding amount.

• Bank may, in its good faith business discretion, finance such Eligible Accounts and Eligible Purchase Orders by extending credit to Borrower in an amount equal to the result of the applicable Advance Rate multiplied by the face amount of the Eligible Account or Eligible Purchase Order.

• Borrower will deliver an Invoice Transmittal for each Eligible Account it offers and a Purchase Order Transmittal for each Eligible Purchase Order it offers.

• Bank shall finance such Eligible Purchase Orders on an aggregate basis by extending credit to Borrower in an amount equal to the result of the Advance Rate multiplied by the face amount of the Eligible Purchase Order (a “Purchase Order Advance ”, together with Account Advance and Inventory Advance, each an “Advance” and collectively the “Advances”).

• Pursuant to the express provisions of the Vendor Financing Agreement and the Master Supplier Agreement, each of the Defendants agreed and guaranteed to pay to Tanya all amounts due from Charming Charlie to Tanya for each Eligible Purchase Order for which Charming Charlie failed to pay to Tanya.

• If a Streamline Period is not in effect, the Finance Charge is payable (i) with respect to an Eligible Account, when the Advance made based on such Financed Receivable is payable in accordance with Section 2.3 hereof and (ii) with respect to an Eligible Purchase Order, upon the earlier of (a) such Eligible Purchase Order becoming an Eligible Account or otherwise ceasing to be an Eligible Purchase Order or (b) the date one hundred twenty (120) days after the date of such Eligible Purchase Order.

More Definitions of Eligible Purchase Order

Eligible Purchase Order. A binding Purchase order issued by a Buyer to the Debtor which specifies the terms, description of the Pre-sold Goods, quantity, and price of such order.

Eligible Purchase Order means the Purchase Order Modification #4 (PO#052-004), dated October 4, 2019, by and between Customer, as the contractor, and Value Lighting, as the vendor, to perform certain work described as ACC – Flamingo Crossings, as such purchase order modification is in effect as of the date hereof and has approved and accepted by Secured Party in its sole and absolute discretion.

Eligible Purchase Order means a valid and enforceable purchase order contract between a Loan Party as purchaser and the counterparty to such purchase order contract as seller, the subject of which purchase order contract is the sale to a Loan Party of Tracking Units. No purchase order contract shall be deemed to be an Eligible Purchase Order unless (i) it is entered into by a Loan Party for the purpose of enabling such Loan Party to fulfill the Tracking Unit requirements contained in a Valid Lease Agreement then in effect; and (ii) such Valid Lease Agreement (A) does not permit the lessee thereunder to cancel or terminate such Agreement at will and (B) contains a leasing term applicable to the lease of the applicable Tracking Units to be purchased of not less than 12 months. Notwithstanding anything herein to the contrary, agreements in substantially the form of Lease Agreements set forth in Exhibits B(1), B(2) and B(3), and multi-agency contracts with terms (including leasing term and contract termination and cancellation provisions) substantially similar to the form of said Lease Agreements, shall be deemed to satisfy the requirements set forth in clauses (ii)(A) and (ii)(B) of this definition.

Eligible Purchase Order means a purchase order (i) issued by a Seller to an Authorized Supplier for Equipment, (ii) for which such Seller has a Bona Fide Customer Order from an Eligible Obligor with an estimated shipping date or acceptance date within thirty (30) days of the date of such Bona Fide Customer Order, and (iii) for which the sale of the related Equipment to the Eligible Obligor will create an Eligible Account.

Eligible Purchase Order means the Purchase Order Modification #4 (PO# 052-004), dated October 4, 2019, by and between Customer, as the contractor, and Value Lighting, as the vendor, to perform certain work described as ACC – Flamingo Crossings, as such purchase order modification is in effect as of the date hereof and has approved and accepted by Secured Party in its sole and absolute discretion.