JV Eligible Accounts Receivable definition
JV Eligible Accounts Receivable means Eligible Accounts Receivable, the Account Debtor with respect to which is the Joint Venture. JV Eligible Accounts Receivable included in the Borrowing Base Advance Cap shall not exceed $3,000,000, before application of the applicable advance rate, in aggregate value at any time.
Examples of JV Eligible Accounts Receivable in a sentence
In no event shall the Borrower own JV Eligible Accounts Receivable in an aggregate unpaid amount exceeding $10,000,000 at any time.