Qualified Accounts Receivable means any Accounts Receivable, which the Administrative Agent in its sole discretion determines to have met all of the minimum requirements set forth on Schedule 1.1(C), but shall specifically exclude Reserves for Sales Returns for Domestic Accounts Receivable. Qualified Inventory shall mean any Inventory which the Administrative Agent in its sole discretion determines to have met all of the minimum requirements set forth on Schedule 1.1(D), but shall specifically exclude (i) all raw materials, (ii) all work-in-progress Inventory and (iii) all Inventory subject to reserves, including reserves for obsolescence. Ratable Share shall mean the proportion that a Lender’s Commitment (excluding the Swing Loan Commitment) bears to the Commitments (excluding the Swing Loan Commitment) of all of the Lenders. If the Commitments have terminated or expired, the Ratable Shares shall be determined based upon the Commitments (excluding the Swing Loan Commitment) most recently in effect, giving effect to any assignments. Reimbursement Obligation shall have the meaning specified in Section 2.9.3 [Disbursements, Reimbursement]. Related Parties shall mean, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. Relief Proceeding shall mean any proceeding seeking a decree or order for relief in respect of any Loan Party or Subsidiary of a Loan Party in a voluntary or involuntary case under any applicable bankruptcy, insolvency, reorganization or other similar law now or hereafter in effect, or for the appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator, conservator (or similar official) of any Loan Party or Subsidiary of a Loan Party for any substantial part of its property, or for the winding-up or liquidation of its affairs, or an assignment for the benefit of its creditors. Requested Increase shall have the meaning assigned to that term in Section 2.4(i). Required Lenders shall mean (i) if there are no Loans, Reimbursement Obligations or Letter of Credit Borrowings outstanding, Complying Lenders whose Commitments (excluding the Swing Loan Commitments) aggregate at least 51% of the Commitments (excluding the Swing Loan Commitments) of all of the Complying Lenders, or (ii) if there are Loans, Reimbursement Obligations, or Letter of Credit Borrowings outstanding, any group of Complying Lenders if the sum of the Loans (excluding the Swi...
Qualified Accounts Receivable means accounts receivable earned by Borrower in the ordinary course of business for services rendered and goods sold to customers for which there are no claims of offset or defense, and which, in the opinion of Bank, are not of doubtful collectability, and which have been outstanding for one hundred twenty (120) days or less, as reflected on the most recent, certified statement of accounts receivable delivered to Bank. "Qualified Inventory" shall be valued at the lesser of the cost or present market value determined in accordance with generally accepted accounting principles, consistently applied, and shall mean all inventory which is in good merchantable condition, is not obsolete or discontinued, which would properly be classified as "raw materials", "work in process", or "finished goods inventory" under generally accepted accounting principles, and which has been fully paid for from Borrower's own funds and for which no security interest exists except the security interest to be granted in favor of Lender as herein contemplated. An account receivable or item of inventory which is at any time a Qualified Account Receivable or an item of Qualified Inventory, but which subsequently fails to meet any of the foregoing requirements, shall cease to be a Qualified Account Receivable or an item of Qualified Inventory as the case may be, for so long as such failure continues."
Qualified Accounts Receivable means accounts receivable owned by the Borrower or any of its Subsidiaries with respect to which the Borrower or such Subsidiary is the beneficiary of a commercial letter of credit issued by a commercial bank or other financial institution supporting the invoiced amount of such accounts receivable.
Examples of Qualified Accounts Receivable in a sentence
The Closing Date Qualified Accounts Receivable and the Assumed Accrued Liabilities amount shall be prepared in accordance with generally accepted accounting principles consistently applied.
All Domestic Credit Card Accounts Receivable, whether Qualified Accounts Receivable or not, shall be subject to the Lenders’ Prior Security Interest, subject to Permitted Liens, if any.
The parties also acknowledge and agree that accounting staff previously employed by Seller shall assist Seller, at no cost to Seller, in determining the Closing Date Qualified Accounts Receivable and the Assumed Accrued Liabilities on behalf of Seller even though such employees may be employed by Purchaser after the Closing.
If reasonably requested by Seller, Purchaser will provide Seller with access to the records of the Business in order to determine the Closing Date Qualified Accounts Receivable and the Assumed Accrued Liabilities.
All Domestic Royalty Accounts Receivable, whether Qualified Accounts Receivable or not, shall be subject to the Lenders’ Prior Security Interest, subject to Permitted Liens, if any.
More Definitions of Qualified Accounts Receivable
Qualified Accounts Receivable means, as of any applicable date, all amounts that should, in accordance with GAAP, be included as an account receivable on the consolidated balance sheet of Borrower and its Subsidiaries as of such date, but shall specifically exclude any receivables that are unbilled (a) more than ninety (90) days past due (b) owed by an officer or director (c) owed to an obligor that has any accounts receivable with Borrower that are more than ninety (90) days past due, or (d) that are disputed or challenged (or for which such obligor has otherwise asserted a defense or right of offset with respect to collection).
Qualified Accounts Receivable means accounts receivable that are not more than 45 days’ past due.
Qualified Accounts Receivable means those Accounts of Borrower or any Subsidiary (or any Foreign Subsidiary, to the extent such Foreign Subsidiary may elect to pledge such Accounts to the Agent hereunder) that meet the following criteria:
Qualified Accounts Receivable means the aggregate gross amount of the Accounts Receivable (as set forth in Proxim’s Accounts Receivable ledger, delineated as “1100 Accounts Receivable”), that as of the Closing Date, are less than sixty (60) days from the invoice due date; these accounts shall be computed in a manner consistent with Proxim’s past practices and filings with the United States Securities and Exchange Commission (the “SEC”). As an example, at the end of the first quarter of 2005, the sum of $17,952,768 was recorded as the 1100 Accounts Receivable, of which the sum of $12,061,000 was outstanding for those accounts receivable less than sixty (60) days from the invoice due date;
Qualified Accounts Receivable means all accounts receivable of Borrower reflected in its financial records from time to time, to the extent such accounts receivable meet one or more of the following qualifications:
Qualified Accounts Receivable means those accounts of the Borrower, Advocat or the Subsidiaries, on a consolidated basis, that meet the following criteria:
Qualified Accounts Receivable means accounts receivable earned by Borrower in the ordinary course of business for services rendered and goods sold to customers for which there are no claims of offset or defense, and which, in the opinion of Bank, are not of doubtful collectability, and which have been outstanding for one hundred twenty (120) days or less, as reflected on the most recent, certified statement of accounts receivable delivered to Bank. "Qualified Inventory" shall be valued at the lesser of the cost or present market value determined in accordance with generally accepted accounting principles, consistently applied, and shall mean