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 owned by the following Account Debtors: Adelphia Communications Corporation, Citibank, N.A., Worldcom, Inc.; Prudential Insurance Company of America; Pacific Bel▇ ▇▇lephone 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.
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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 ▇▇▇▇ 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 & ▇▇▇▇▇▇▇▇▇, Inc." is substituted therefor.
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