Insured Receivable definition

Insured Receivable means each Receivable of an Obligor for which the Outstanding Balance (when aggregated with each other Receivable owing by such Obligor that was originated prior to such Receivable) is less than or equal to the then-effective maximum amount available for payments established for such Obligor for all claims relating to such Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance; provided, further, that no Receivable shall constitute an Insured Receivable unless (a) such Receivable and the related Contract (pursuant to its express terms) is governed by the laws of the United States and (b) under such related Contract, the related Obligor expressly submits to the jurisdiction of the courts or binding arbitration body, in either case, in the United States for purposes of any litigation, arbitration or similar proceeding with respect to any dispute regarding such Receivable.
Insured Receivable means each Receivable of an Obligor for which the Outstanding Balance (when aggregated with each other Receivable owing by such Obligor that was originated prior to such Receivable) is equal to or less than the then-effective maximum amount available for payments established for such Obligor for all claims relating to such Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided, that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance.
Insured Receivable means the Gross Invoice Value of any and every shipment despatched by a Client to any of the Approved Debtors at any time during the Period of Cover under this Agreement, irrespective of the amount of Credit Limit available on that Approved Debtor;

Examples of Insured Receivable in a sentence

  • For the avoidance of doubt, no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance.

  • Under such circumstances ECGC shall either cancel and nullify the assignment in favour of ECGC of the relevant Insured Receivable or shall reassign it back to the Insured.

  • ECGC shall have no liability to indemnify the Insured unless the proximate cause of loss is the occurrence of an Insured Risk covered under this Agreement and/or the right and interest of the Insured in the relevant Insured Receivable has been assigned and transferred by the Insured in favour of ECGC.

  • If an Insured Receivable is assigned to a third party or the Insurer, the Insurer will not regard this assignment for the purpose of determining the amount and data of making the indemnification payment, and clause 10.6.1 (d) and other related provisions of the General Insurance Conditions are not affected thereby.

  • The Borrower will promptly notify the Bank if any policy of Credit Insurance is cancelled or terminated, of if the rating of the Insurance Provider, as published by A.M. Best Company, falls below the level of "A," or if the Insurance Provider fails to pay any claims submitted by the Borrower with respect to any Insured Receivable in excess of $50,000.00.


More Definitions of Insured Receivable

Insured Receivable means a Receivable due from an Insured Obligor.
Insured Receivable means each Receivable of an Obligor for which the Outstanding Balance (when aggregated with each other Receivables owing by such Obligor that was originated prior to such Receivable) is equal to or less than the then-effective maximum amount available for payments established for such Obligor for all claims relating to such Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided, that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance; provided, further, that, no Receivable shall constitute an Insured Receivable unless (i) such Receivable and the related Contract (pursuant to its express terms) is governed by the laws of Australia, Singapore, Japan, the United States or England and Wales and (ii) under such related Contract, the related Obligor expressly submits to the jurisdiction of the courts or binding arbitration body, in either case, in Australia, Singapore, Japan, the United States or England and Wales for purposes of any litigation, arbitration or similar proceeding with respect to any dispute regarding such Receivable.
Insured Receivable. Any Receivable now or hereafter owed to the Borrower or Star which satisfies all of the criteria set forth below to be a "Qualified Receivable" except that the relevant customer may be located inside or outside the United States; provided that such Receivable is insured by credit insurance in form and substance satisfactory to the Bank and issued by Eximbank or another insurer satisfactory to the Bank. In any event, "Insured Receivables" shall not be deemed to include any of the Qualified Receivables nor any of the L/C-Backed Foreign Receivables.
Insured Receivable means any Receivable (i) which is insured, subject to applicable policy limits, under one or more policies of Credit Insurance, and (ii) as to which the Borrower has remitted the applicable premium payment and received confirmation thereof from the Insurance Provider.
Insured Receivable means each Receivable of the Insured Obligor for which the Outstanding Balance (when aggregated with each other Receivable owing by the Insured Obligor that was originated prior to such Receivable) is equal to or less than the then-effective maximum amount available for payments established for the Insured Obligor for all claims relating to the Insured Obligor during the related policy period under and pursuant to Eligible Credit Insurance; provided, that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy shall cease to constitute an Eligible Credit Insurance. “Intended Tax Treatment” has the meaning set forth in Section 14.14. “International Trade Laws” means all Laws relating to economic and financial sanctions, trade embargoes, export controls, customs and anti-boycott measures. “Investment” means any funding of Capital to the Seller by a Purchaser pursuant to Sections 2.01(a), 2.02 or 2.06. “Investment Company Act” means the Investment Company Act of 1940, as amended or otherwise modified from time to time. “Investment Request” means a letter in substantially the form of Exhibit A hereto executed and delivered by the Seller to the Administrative Agent and the Group Agents pursuant to Section 2.02(a). “Law” means any law(s) (including common law), constitution, statute, treaty, regulation, rule, ordinance, opinion, release, ruling, order, executive order, injunction, writ, decree, bond, judgment, authorization or approval, lien or award, or any settlement arrangement, by agreement, consent or otherwise, of any Official Body, foreign or domestic. “LCR Security” means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent, under GAAP) within the meaning of Paragraph __.32(e)(viii) of the final rules titled Liquidity Coverage Ratio; Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014). “Liquidity Agent” means any bank or other financial institution acting as agent for the various Liquidity Providers under each Liquidity Agreement. “Liquidity Agreement” means any agreement entered into in connection with this Agreement pursuant to which a Liquidity Provider agrees to make purchases or advances to, or purchase assets from, any Conduit Purchaser in order to provide liquidity for such Conduit Purchaser’s Capital and Notes.
Insured Receivable means each Receivable for which the Obligor thereof is an Insured Obligor; provided, that no Receivable shall constitute an Insured Receivable at any time the Credit Insurance Policy relating thereto shall cease to constitute Eligible Credit Insurance.
Insured Receivable means that portion of any Receivable which is insured without deductible or co-insurance under the Policy and the Optical Policy.