Net Amount of Eligible Receivables means and include at any time, without duplication, the gross amount of Eligible Receivables at such time less (i) sales, excise or similar taxes and (ii) returns, discounts, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding, available or claimed.
Net Amount of Eligible Receivables means the gross amount of Eligible Receivables less sales, excise or similar taxes, returns, discounts, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding or claimed, and less (without duplication) all amounts payable by any Account Debtor on Eligible Receivables if any Eligible Receivable of such Account Debtor is unpaid more than ninety (90) days following its invoice date.
Net Amount of Eligible Receivables means, at any time, without duplication, the gross amount of Eligible Receivables at such time less to the extent included in Eligible Receivables, (i) sales, excise or similar taxes and (ii) to the extent not otherwise excluded from Eligible Receivables, discounts, claims and allowances of any nature at any time issued, owing, granted, outstanding, available to or claimed by the Customers in respect of such Eligible Receivables.
Examples of Net Amount of Eligible Receivables in a sentence
Less: The following amounts determined pursuant to the definition of Net Amount of Eligible Receivables in the Credit Agreement, without duplication: (a) Unpaid sales, excise or similar taxes...................................................
The Receivable Availability shall mean an amount equal to eighty percent (80%) (the "Receivables Advance Percentage") of the Net Amount of Eligible Receivables which have been validly assigned to Lender and in which Lender holds a perfected security interest pursuant to the terms hereof ranking prior to and free and clear of all interests, claims, and rights of others.
The financing facility provides for the Borrower to have access to the lesser of (i) $1 million or (ii) 85% of Net Amount of Eligible Receivables (as defined in the financing agreement).
Net Amount of Eligible Receivables (Line 4 minus Line 5)..........................................
More Definitions of Net Amount of Eligible Receivables
Net Amount of Eligible Receivables means the outstanding face amount of Eligible Receivables of the Borrower and the Guarantors, determined in accordance with Agreement Accounting Principles, consistently applied, less (i) all finance charges, late fees and other fees that are unearned in respect of such Eligible Receivables and (ii) the value of any accrual which has been recorded by the Borrower or any Guarantor with respect to downward price adjustments in respect of such Eligible Receivables.
Net Amount of Eligible Receivables means, at any time, the gross amount of Eligible Receivables less sales, excise or similar taxes, and less returns, discounts, rebates, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding, available or claimed.
Net Amount of Eligible Receivables means and include at any time, without duplication, the gross amount of Eligible Receivables at such time less the sum of (i) sales, excise or similar taxes, (ii) returns, discounts, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding, available or claimed, and (iii) such reserves as determined by the Administrative Agent in its sole judgment for (A) sales to the United States of America or to any agency, department or division thereof; (B) foreign sales other than sales secured by stand-by letters of credit (in form and substance satisfactory to the Administrative Agent) issued or confirmed by, and payable at, banks having a place of business in the United States of America and payable in United States currency; (C) Receivables that remain unpaid more than ninety (90) days from the invoice date; (D) contras; (E) sales to the Borrowers' Affiliates; (F) xxxx and hold (deferred shipment) or consignment sales; (G) sales to any Customer which is (w) insolvent, (x) the debtor in any bankruptcy, insolvency, arrangement, reorganization, receivership or similar proceedings under any federal or state law, (y) negotiating or has called a meeting of its creditors for purposes of negotiating, a compromise of its debts, or (z) financially unacceptable to the Administrative Agent or has a credit rating unacceptable to the Administrative Agent; (H) all sales to any Customer if fifty percent (50%) or more of either (x) all outstanding invoices of such Customer, or (y) the aggregate dollar amount of all outstanding invoices of such Customer, are unpaid more than ninety (90) days from the invoice date; (I) any other reasons deemed necessary by the Administrative Agent in its sole judgment; and (J) an amount representing, historically, returns, discounts, claims, credits and allowances.
Net Amount of Eligible Receivables means and include at any time, without duplication, the gross amount of Eligible Receivables at such time less (i) sales, excise or similar taxes, (ii) returns, discounts, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding, available or claimed, (iii) a dilution reserve established from time to time in the Agent's reasonable discretion and (iv) appropriate adjustments for the conversion of Canadian dollars into dollars and any currency reserve established from time to time in the Agent's sole reasonable discretion.
Net Amount of Eligible Receivables means the gross amount of Eligible Receivables less sales, excise or similar taxes, returns, discounts, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding or claimed, and less (without duplication) all amounts payable by any Account Debtor on Eligible Receivables of such Account Debtor that are unpaid (i) more than 90 days following its invoice date arising from sales made to domestic or foreign customers; and (ii) more than 50 days following its invoice date arising from sales made to contract research and development customers.
Net Amount of Eligible Receivables means, as of any date of determination, the gross amount of Eligible Receivables of the Borrower on such date less sales, excise or similar taxes, and less returns, discounts, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding, available or claimed.
Net Amount of Eligible Receivables shall have the meaning set forth in the definition of "Eligible Receivables" contained herein.