Ineligible Truck definition

Ineligible Truck means a Truck owned by CPF that, on the applicable date of determination, (i) is over the Maximum Mileage Limit for such Truck, (ii) has suffered a Casualty, (iii) with respect to Gasoline Trucks, is older than 96 months from the date of original invoicing and with respect to Diesel Trucks, is older than 120 months from the date of original invoicing, (iv) with respect to cargo vans, is older than 72 months from the date of original invoicing or (v) is currently subject to a recall by the manufacturer.
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Ineligible Truck means a Truck owned by CPF that, on the applicable date of determination, (i) is over the Maximum Mileage Limit, (ii) has suffered a Casualty, (iii) with respect to Gasoline Trucks, is older than 72 months from the date of original invoicing and with respect to Diesel Trucks, is older than 96 months from the date of original invoicing, or (iv) is currently subject to a recall by the manufacturer.
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Ineligible Truck means a Cargo Van or Pick-Up Truck that is not an Eligible Truck.
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More Definitions of Ineligible Truck

Ineligible Truck has the meaning specified, with respect to any Series of Notes, in the Series Supplement for such Series of Notes.
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Ineligible Truck means a Truck owned by BTF that, on the applicable date of determination, (i) is over the Maximum Mileage Limit, (ii) has suffered a Casualty, (iii) with respect to Gasoline Trucks, is older than 42 months from the date of original invoicing and with respect to Diesel Trucks, is older than 54 months from the date of original invoicing, or (iv) is currently subject to a recall by the manufacturer.
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Related to Ineligible Truck

  • Eligible Trade Receivables means Accounts created by any Borrower arising out of the sale of finished goods Inventory other than to retail customers deemed by the Administrative Agent in its discretion to be eligible for inclusion in the calculation of the Borrowing Base arising from the sale of the Borrowers’ Inventory (other than those consisting of Credit Card Receivables, Customer and Marketing Services Receivables, and Leased Department Receivables) that satisfy the following criteria at the time of creation and continue to meet the same at the time of such determination: such Account (a) has been earned by performance and represent the bona fide amounts due to a Borrower from an Account Debtor, and in each case originated in the ordinary course of business of such Borrower, and (b) in each case is acceptable to the Administrative Agent in its Permitted Discretion, and is not ineligible for inclusion in the calculation of the Borrowing Base pursuant to any of clauses (a) through (s) below. Without limiting the foregoing, to qualify as an Eligible Trade Receivable, an Account shall indicate no Person other than a Borrower as payee or remittance party. In determining the amount to be so included, the face amount of an Account shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges or other allowances (including any amount that a Borrower may be obligated to rebate to a customer pursuant to the terms of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account but not yet applied by the Borrowers to reduce the amount of such Eligible Trade Receivable. Except as otherwise agreed by the Administrative Agent, any Account included within any of the following categories shall not constitute an Eligible Trade Receivable:

  • Ineligible Account means an Account that at the time of determination is not an Eligible Account.

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Ineligible Receivable shall have the meaning specified in subsection 2.04(d)(iii).

  • Ineligible means that the individual obtained the checks and clearances as described in sections 5n and 5q and is not considered appropriate to obtain a license, to be a member of the household of a group child care home or family child care home, or to be a child care staff member due to violation of section 5n, 5q, or 5r.