Extended Accounts definition

Extended Accounts any Account created during the month of February, March, April or May of each calendar year for which the applicable invoice does not require payment until the date that is no less than 120 days and no more than 180 days after the original invoice date therefor.
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Extended Accounts means those Accounts owed by the following Account ----------------- Debtors: MCI, Inc.; Boeing Corporation; Sikorsky Corporation; Northern Telecom, Inc.; Day & Xxxxxxxxx, Inc.; New York Telephone; and GTE, Inc. The Borrower shall be entitled to change the composition of Extended Account up to two (2) times in any Fiscal Year provided it gives the Lender not less than thirty (30) days prior A-12 written notice of such change except that any Account of General Electric Company or its Subsidiaries or Affiliates shall not be deemed an Extended Account.
Sample 1
Extended Accounts means those Accounts owned by the following Account Debtors: Adelphia Communications Corporation, Citibank, N.A., Worldcom, Inc.; Prudential Insurance Company of America; Pacific Xxxx Telephone Company; Verizon Communications; and Sikorsky Aircraft Corporation. Borrower shall be entitled to change the composition of Extended Accounts up to two (2) times in any Fiscal Year provided it gives Agent and the Lenders not less than thirty (30) days prior written notice of such change except that any Account of General Electric Company or its Subsidiaries or Affiliates shall not be deemed an Extended Account. "Fair Labor Standards Act" means the Fair Labor Standards Act, 29 U.S.C. § 201 et seq.
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Examples of Extended Accounts in a sentence

  • As of each date reported by each Borrower, all Accounts which such Borrower has reported to Lender as being Eligible Accounts, Eligible Extended Accounts and Eligible Foreign Accounts comply in all respects with the criteria for eligibility established by Lender and in effect at such time.

  • The existence and value of Eligible Extended Accounts and the value of the Bulk Sugar contained in Eligible Inventory shall be determined from the Borrower's Borrowing Base Certificates delivered to Agent pursuant to Sections 2.14 and 6.6(c) of the Revolving Loan Agreement.

  • Lender may, in its discretion, establish and revise Reserves by deducting them in determining Availability or by reclassifying Eligible Accounts, Eligible Extended Accounts and Eligible Foreign Accounts or Eligible Inventory, Eligible In-Transit Inventory and Eligible Leased Inventory as ineligible.


More Definitions of Extended Accounts

Extended Accounts contained in Schedule "1.01" to the Credit Agreement is deleted and the name "Day & Xxxxxxxxx, Inc." is substituted therefor.
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Related to Extended Accounts

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Excluded Accounts means (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) xxxxx cash accounts funded in the ordinary course of business, (d) escrow, fiduciary or trust accounts, (e) designated disbursement accounts and non-U.S. bank accounts and (f) the funds or other property held in or maintained in any such account identified in clauses (a) through (e).

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Interim Accounts means the unaudited consolidated quarterly financial statements of the Issuer for the quarterly period ending on each 31 March, 30 June, 30 September and 31 December in each year, prepared in accordance with GAAP.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Controlled Accounts means the Collection Account and the Unfunded Exposure Account.

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;

  • Facility Account means the account numbered 0000000 maintained by Seller in the name of “PDC Funding Company, LLC” at JPMorgan, together with any successor account or sub-account.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Collection Accounts As defined in Section 3.10(a).

  • Eligible Unbilled Accounts means Accounts 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 and, in either case, so long as such Accounts have not been unbilled for more than thirty (30) days. 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”.

  • Related Account means an Account with respect to which a new credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Blocked Account Agreements has the meaning set forth in Section 2.22(c).

  • Management Accounts means, in relation to any Reporting Period, the Franchisee’s management accounts which: (a) comply with paragraph 3.10 of Schedule 13 (Information and Industry Initiatives); and (b) are required to be delivered to the Secretary of State by the Franchisee in accordance with paragraphs 3.2 and 3.3 of Schedule 13 (Information and Industry Initiatives);

  • Covered Account means an Account established by a financial intermediary for another as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through BNYM.

  • Blocked Account Agreement means an agreement among the Borrower, the Agent and a Clearing Bank, in form and substance reasonably satisfactory to the Agent, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral.