Eligible Purchase Orders are binding, non-contingent and non-cancelable purchase orders issued within the previous ninety (90) days, for the delivery of goods by Borrower or the provision of services by Borrower, and which, but for the fact that an invoice has not been sent, are otherwise “Eligible Accounts.” Upon the issuance of an invoice in respect of such a purchase order, such applicable purchase order shall not be deemed to be an “Eligible Purchase Order”.

Eligible Purchase Orders purchase orders issued in favor of Debtor, and which have not expired or been cancelled, covering the purchase of goods from Debtor, issued by Buyers.

Eligible Purchase Orders are Purchase Orders received in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3, have been, at the option of Bank, confirmed in accordance with Section 2.1.1(g), and will result in the creation of an Account due and owing from Account Debtors deemed creditworthy by Bank in its sole discretion. Without limiting the fact that the determination of which Purchase Orders are eligible hereunder is a matter of Bank discretion in each instance, Eligible Purchase Order shall not include the following Purchase Order (which listing may be amended or changed in Bank’s discretion with notice to Borrower):

Examples of Eligible Purchase Orders in a sentence

The aggregate amount of Advances made with respect to Eligible Purchase Orders shall not exceed One Million Five Hundred Thousand Dollars ($1,500,000) at any time.
Notwithstanding the foregoing, at any time that the aggregate outstanding principal amount of the Purchase Order Advances exceeds the Purchase Order Sublimit or the amount of Purchase Order Advances available against Eligible Purchase Orders (as determined by Bank), Borrower shall immediately pay to Bank the excess.
Bank may, in its good faith business discretion, finance such Eligible Purchase Orders 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 Orders (the “Purchase Orders Advance”).
Bank may, in its good faith business discretion, finance such Eligible Purchase Orders 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 Orders (the “Purchase Order Advance”).
Notwithstanding the foregoing and any other provisions of this Agreement to the contrary, the aggregate amount of Advances made with respect to Eligible Purchase Orders plus the aggregate amount of Inventory Advances shall not exceed the gross face amount of Financed Receivables that constitute Eligible Accounts at any time.

More Definitions of Eligible Purchase Orders

Eligible Purchase Orders are Purchase Orders made by Borrower in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties, and are otherwise acceptable to Bank in all respects. The determination of which Purchase Orders are eligible hereunder is a matter of Bank’s discretion in each instance.

Eligible Purchase Orders are signed and accepted Purchase Orders received in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3, and will result in the creation of an Eligible Account due and owing from Account Debtors deemed creditworthy by Bank in its good faith business judgment. Without limiting the fact that the determination of which Purchase Orders are eligible hereunder is a matter of good faith business judgment of the Bank in each instance, Eligible Purchase Order shall not include the following Purchase Orders (which listing may be amended or changed in Bank’s good faith business judgment):

Eligible Purchase Orders means purchase orders received by each Borrower for the purchase of Finished Goods from customers (i) credit approved by Montcap, (ii) for which the mix of customers and products is acceptable to Montcap and (iii) for which Montcap is satisfied that the Borrower will be able to respect the delivery date stipulated in the purchase orders by shipping all the products referred to in the purchase orders;

Eligible Purchase Orders means and includes each Purchase Order which conforms to the following criteria: (a) a Purchase Order that relates to products that would be included within the definition of “Eligible Inventory” if such products were owned by a Company, and (b) is otherwise satisfactory to Laurus as determined by Laurus in the exercise of its sole discretion. In the event Company requests that Laurus include within Eligible Purchase Orders certain Purchase Orders of one or more of Company’s acquisition targets, Laurus shall at the time of such request consider such inclusion, but any such inclusion shall be at the sole option of Laurus and shall at all times be subject to the execution and delivery to Laurus of all such documentation (including, without limitation, guaranty and security documentation) as Laurus may require in its sole discretion.

Eligible Purchase Orders means, at any date, firm purchase orders held by Borrower which are acceptable to Silicon in its sole discretion in all respects and are for products due to be shipped within the following six months. Upon the next issuance of equity or subordinated debt securities by Borrower, the proceeds thereof shall be used to repay in full all sums due under the Purchase Order Line, and thereafter no further Loans will be available under the Purchase Order Line. In the event the Commitment which the Borrower has received from Silicon dated July 7, 1998 for mezzanine financing terminates or is terminated for any reason, all sums due under the Purchase Order Line shall become due and payable, and thereafter no further Loans will be available under the Purchase Order Line.

Eligible Purchase Orders. “Liquidity”; “Reserves”; “Streamline Balance”; “Streamline Period”.