Eligible Unbilled Account definition
Eligible Unbilled Account means an Account owing to a Loan Party which would qualify as an Eligible Account except that the invoice with respect thereto has not yet been submitted to the Account Debtor, so long as the period following the date on which such Loan Party recognizes such Account in its books and records and prior to the date of the issuance of the invoice with respect thereto is less than 30 days.
Eligible Unbilled Account means, as of any date of determination, a Direct Account of NPI that (a) resulted from a transaction that occurred prior to the date of determination and with respect to which NPI has an existing call transaction record in a format that is capable of being billed by NPI to its customer in accordance with NPI's usual billing methods for Direct Accounts but that has not yet been billed and invoiced to such customer, (b) does not relate to a Call Data Record received by Borrower more than 60 days prior to the date of determination, and (c) in all other respects would qualify as an Eligible Account but for the fact that it has not yet been billed and invoiced to NPI's customer. Eligible Unbilled Accounts shall be net of contra accounts. If an Account that, immediately prior to being billed and invoiced, was an Eligible Unbilled Account, then is billed and invoiced, it thereupon shall cease to be an Eligible Unbilled Account, and it shall become an Eligible Account if it then meets the criteria applicable thereto.
Eligible Unbilled Account means, at any time of determination, without duplication, each Unbilled Account of the Borrowers which constitutes an Eligible Account at such time; provided, that unless otherwise approved from time to time in writing by the Administrative Agent in its Reasonable Credit Judgment, no Unbilled Account shall constitute an Eligible Unbilled Account unless the entire amount of the relevant Coal Inventory pertaining to such Unbilled Account has been loaded into the Account Debtor’s mode of transportation or has departed, in the case of vessels and barges, as applicable, or when delivered to the Account Debtor and when risk of loss or title of such Coal Inventory has transferred to the Account Debtor.
Examples of Eligible Unbilled Account in a sentence
The estimated face value amount determined by Borrower for each Eligible Unbilled Account is based upon the best information available to Borrower and accurately and fully (considering all known discounts available to each such Account Debtor) reflects the same.
At the time of delivery of each Borrowing Base Certificate, assuming that any eligibility criteria that requires the approval or satisfaction of the Administrative Agent has been approved by or is satisfactory to the Administrative Agent, each Account reflected therein as eligible for inclusion in the Borrowing Base is an Eligible Account or Eligible Unbilled Account and the Inventory reflected therein as eligible for inclusion in the Borrowing Base constitutes Eligible Inventory.
At the time of delivery of each Borrowing Base Certificate, assuming that any eligibility criterion that requires the approval or satisfaction of the Administrative Agent has been approved by or is satisfactory to the Administrative Agent, each material Account reflected therein as eligible for inclusion in the Borrowing Base is an Eligible Account, Eligible Billed Hybrid Account or Eligible Unbilled Account, as applicable.
To the extent that an event, condition or matter as to any Eligible Account, Eligible Unbilled Account or Qualified Cash is addressed pursuant to the treatment thereof within the definition of such term, Agent shall not also establish a Reserve to address the same event, condition or matter.
As to each Account that is identified by a Borrower as an Eligible Account or Eligible Unbilled Account in a Borrowing Base Certificate submitted to Agent, such Account is not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible Accounts or Eligible Unbilled Accounts, as applicable.
More Definitions of Eligible Unbilled Account
Eligible Unbilled Account an Account owing to an Obligor that would otherwise qualify as an Eligible Account except that such Account has not yet been billed to the applicable Account Debtor; provided that an Account shall cease to be an Eligible Unbilled Account upon the earlier of (a) the date such Account is billed to the applicable Account Debtor and (b) 30 days after the goods giving rise to such Account have been delivered to the applicable Account Debtor or the applicable service has been performed.
Eligible Unbilled Account means, at any time of determination, without duplication, each Unbilled Account of the Borrowers which constitutes an Eligible Account at such time; provided, that unless otherwise approved from time to time in writing by the Administrative Agent in its sole discretion, no Eligible Unbilled Account shall constitute an Eligible Unbilled Account if:
Eligible Unbilled Account means an Account of a U.S. Borrower owed by an Account Debtor which meets all criteria of an “Eligible Account” except that (a) as of any date of determination, the invoice with respect thereto has not yet been submitted to such Account Debtor, so long as the period following the date on which the applicable Borrower recognizes such Account in its books and records and prior to the date of the issuance of the invoice with respect thereto is less than thirty (30) days, and (b) all Eligible Unbilled Accounts shall not exceed, in the aggregate, 20% of Availability as set forth in the Borrowing Base Certificate most recently delivered to the Administrative Agent pursuant to Section 5.01(f) of this Agreement, provided that, for the purposes of this clause (b), Eligible Unbilled Accounts owed by Shell Exploration and Production Company shall not exceed, in the aggregate, 5% of Availability as set forth in the Borrowing Base Certificate most recently delivered to the Administrative Agent pursuant to Section 5.01(f) of this Agreement.
Eligible Unbilled Account means any Unbilled Amount of a Borrower which (a) is owing, but which is not yet billed, for services actually consummated by such Borrower, as reflected on its books and records (including time and materials, cost plus fixed fee, and Wafer Services Accounts, to the extent such Wafer Services Accounts are at least 70% completed, and excluding any Unbilled Amounts recorded pursuant to milestone billing terms under the applicable contract), (b) shall become a standard billed Account in the ordinary course of business of such Borrower pursuant to the billing of such amount (and the conversion thereof into an Account), (c) is subject to a perfected first priority security interest in favor of Agent and no other lien except Permitted Liens and would not otherwise be deemed ineligible under the definition of Eligible Billed Accounts (except for the fact that such Unbilled Amount is not yet billed and invoiced), (d) the Unbilled Amount is evidenced by documentation satisfactory to the Agent in its Permitted Discretion and has been verified by Agent in a manner satisfactory to Agent, (e) is owing by a Person other than any Affiliate, creditor or supplier of such Borrower (with such Unbilled Amounts to be ineligible to the extent of any amounts owed by such Borrower to such Person as a creditor or supplier), and (f) is the product of services rendered not more than the number of days specified in Section 4(c) of Schedule A, as applicable. Notwithstanding anything to the contrary contained in the foregoing, no Unbilled Amount shall be an Eligible Unbilled Account included in the Borrowing Base unless such Unbilled Amount is owing in, and will be billed and invoiced in, denominated in and repayable in, Dollars.
Eligible Unbilled Account means an amount which, when an invoice is issued with respect thereto, will be an Eligible Account, and in respect of which an invoice is issued within 30 days (or, in the case of MasTec's Energy Group, 45 days) after such amount is first included as an "Eligible Unbilled Account" on any Borrowing Base Certificate.
Eligible Unbilled Account means any Account of the Obligors that does not qualify as an Eligible Account solely because (a) the goods giving rise to such Account have not been shipped and billed to the Account Debtor, or (b) the services giving rise to such Account have not been performed and billed to the Account Debtor; provided that no Account shall constitute an Eligible Unbilled Account if (x) in either case of the foregoing clauses (a) and (b), such Account has been unbilled for more than thirty (30) days following the shipment of the good or performance of the services, as applicable, giving rise to such Account and (y) in the case of the foregoing clause (b), less than 75% (as determined by the Agent in its Reasonable Credit Judgment) of the project as to which the services giving rise to such Account relate shall have been completed. For the avoidance of doubt, at such time as an Account is billed to the Account Debtor it shall no longer be an “Eligible Unbilled Account”.
Eligible Unbilled Account means an Unbilled Account (i) that constitutes an Eligible Account and (ii) with respect to which the services or goods giving rise to such Unbilled Accounts were rendered or sold, as applicable (and, in each case, accepted by the Account Debtor), in the Fiscal Month immediately preceding the Fiscal Month in which a Borrowing Base Report including such Eligible Unbilled Accounts in the calculation of the Accounts Formula Amount is delivered to Agent (it being understood, for the avoidance of doubt, that an Eligible Unbilled Account may only be included in the calculation of the Accounts Formula Amount for up to a single Fiscal Month after the Fiscal Month in which the services or goods giving rise to such Unbilled Accounts were rendered or sold, as applicable (and, in each case, accepted by the Account Debtor)).