Qualified Receivable definition

Qualified Receivable means any Receivable that (a) upon delivery of the Initial Invoice to the Buyer, which shall occur by no later than two days prior to the date on which such Receivable shall be due and payable, (i) shall be denominated in U.S. Dollars, (ii) shall be the legal, valid and binding obligation of such Buyer and in full force and effect, enforceable against such Buyer in accordance with its terms, free and clear of any Lien other than Liens created pursuant to the Transaction Documents, (iii) shall be an obligation to pay a sum certain and not subject to a Current Adjustment, (iv) is created in compliance in all material respects with, and which, at the time of the Generation of such Receivable, does not contravene in any material respect, any applicable Requirements of Law, (v) is the obligation of a Buyer who has received a written instruction from Petrobras Finance or the U.S. Seller substantially in the form of Exhibit D hereto, (vi) is not, at the time it is created, subject to any proceedings or investigations pending or threatened that adversely affect its payment or enforceability and (vii) is not the obligation of a Buyer that at such time is the obligor in respect of a Delinquent Receivable (which, solely for purposes of this definition, means a Receivable, the Net Invoice Amount of which has not been paid on or before the date which is fifteen days after the last day on which Receivables Purchase Agreement such Receivable is payable in accordance with its original stated term) or a Defaulted Receivable or is otherwise subject to an event of the type described in the definition of "Bankruptcy Event" herein and (b) is required to be paid in full no later than thirty (30) days, or in the case of the U.S. Seller as provided in Section 2.1(e) of the Product Sale Agreement (or any longer period of up to 90 days that becomes the prevailing practice in the international oil business, as indicated by a notice from the Servicer to Petrobras Finance and the Trustee) after the date of the xxxx of lading or the bunker delivery receipt with respect to the shipment to which such Receivable relates, whether or not such Receivable is actually paid during such period; provided that, Controlling Parties representing 100% of the aggregate principal amount of all outstanding Senior Trust Certificates may waive any or all of the above conditions without further action, notice or other requirement of any kind.
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Qualified Receivable has the meaning assigned to such term in Section 1.01 of the Receivables Purchase Agreement.
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Qualified Receivable means Specified Receivable identified on the Schedule of Receivables (other than any Specified Receivable identified to the Originator by the Servicer on or before each Settlement Date occurring after the date that such Specified Receivable came in to existence which, if transferred to the Buyer under this Agreement and to the GFII pursuant to the Purchase and Sale Agreement, would not result in an increase in the Net Receivables Balance on each such Settlement Date).
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Examples of Qualified Receivable in a sentence

  • Without limiting the foregoing, but without duplication, if Petrobras Finance Sells to the Trustee a Receivable that is not a Qualified Receivable, Petrobras Finance shall designate for Sale to the Trustee the next Qualified Receivable or Receivables Generated which would not otherwise be Purchased Receivables in an aggregate amount equal to such Receivable.

  • A minority business enterprise subcontractor participation goal of 5% has been established for each functional area of this solicitation.

  • The Qualified Receivable shall be determined from the quarterly accounts receivable aging statement submitted by EGL pursuant to the Loan Documents.

  • There have been duly filed all financing statements or other similar instruments or documents necessary under the UCC (or any comparable law) of all appropriate jurisdictions to perfect Originator’s ownership interest in each Qualified Receivable, its Collections and the Related Security.

  • No transfer by Originator of any Qualified Receivable hereunder is or may be voidable under any section of the Bankruptcy Reform Act of 1978 (11 U.S.C. §§ 101 et seq.), as amended.

  • With respect of each Qualified Receivable, the Buyer will be required to remit payment for the full amount of the Final Invoice, in accordance with instructions provided by the Seller as per Appendix "B" and as per each Final Invoice, to Standard Chartered Bank, New York Branch (the "Bank"), ABA Number 000000000, for the account of EOTT Energy Operating Limited Partnership, Account No. 0000-000000-000, Attention: Xx. Xxxxxxx X.

  • Financial liabilities Fair value through profit or loss Financial liabilities are classified as at fair value through profit or loss, when the financial liability is ADMENTA HOLDINGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 2.

  • Once an amount is earned and becomes due and payable, it may qualify as a Qualified Receivable, but no amount shall be double counted as an amount due under an Approved Contract and as a Qualified Receivable in determining the Borrowing Base.

  • Immediately prior to the time each Qualified Receivable is sold hereunder, Originator shall be the legal and beneficial owner of each such Qualified Receivable and Related Security with respect thereto, free and clear of any Adverse Claim, except as created by the Transaction Documents.

  • This Agreement, together with the filing of the financing statements contemplated hereby, is effective to, and shall, upon each Purchase hereunder, transfer to Buyer (and Buyer shall acquire from Originator) legal and equitable title to, with the right to sell and encumber each Qualified Receivable existing and hereafter arising, together with the Related Security and Collections with respect thereto, free and clear of any Adverse Claim, except as created by the Transactions Documents.


More Definitions of Qualified Receivable

Qualified Receivable means a Receivable which has gone through Qualification, on which UUAC has made an Advance and which conforms to and complies with the following specifications, the correctness of which Customer represents and warrants to UUAC each and every time Customer submits a Contract and Receivable File to UUAC for Qualification under this Agreement: a) it is a valid, binding and enforceable obligation of the Obligor(s); b) it is not in default at the date of transfer to UUAC; c) it is owned by Customer, free and clear of all liens, claims, options, encumbrances, security interests, and other rights ( other than liens in favor of UUAC); d) it is enforceable against each Obligor for the amount shown as owing in the Contract, and such amount is reflected as a receivable in Customer's (and any underlying Customer's Dealership's) books and records; e) it complied at the time it was originated or made, and is currently in compliance in all respects, with all requirements of applicable federal, state, and local laws and regulations thereunder, including, without limitation, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act. the Federal Trade Commission's Used Car Rule, the Federal Trade Commission's Holder-in-Due-Course Rule, the Magnuson-Moss Warranty Act, Xxxxxxx Xxserve
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Qualified Receivable means all Specified Receivables identified on the Schedule of Receivables, other than
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Qualified Receivable means any (i) Accounts Receivable of Seller, that is -------------------- aged ninety days or less as of an applicable date, less (ii) any Accounts Receivable (or portion thereof) described in (i) above, attributable to deferred revenues for maintenance or professional services not yet provided to a customer (calculated in accordance with GAAP) as of such applicable date.
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Qualified Receivable set forth in the related Dealer Agreement.
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Qualified Receivable means any (i) Accounts Receivable of Seller, that is
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Related to Qualified Receivable

  • Eligible Receivable means, at any time, a Receivable:

  • Repurchased Receivable means a Receivable purchased by Santander Consumer pursuant to Section 3.4 of the Purchase Agreement or by the Servicer pursuant to Section 3.6 of the Sale and Servicing Agreement.

  • Eligible Receivables means Receivables arising in the ordinary course of -------------------- Borrower's business from the sale of goods or rendition of services, which Silicon, in its sole judgment, shall deem eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. Without limiting the fact that the determination of which Receivables are eligible for borrowing is a matter of Silicon's discretion, the following (the "Minimum ------- Eligibility Requirements") are the minimum requirements for a Receivable to be ------------------------ an Eligible Receivable: (i) the Receivable must not be outstanding for more than 90 days from its invoice date, (ii) the Receivable must not represent progress xxxxxxxx, or be due under a fulfillment or requirements contract with the Account Debtor, (iii) the Receivable must not be subject to any contingencies (including Receivables arising from sales on consignment, guaranteed sale or other terms pursuant to which payment by the Account Debtor may be conditional), (iv) the Receivable must not be owing from an Account Debtor with whom the Borrower has any dispute (whether or not relating to the particular Receivable), (v) the Receivable must not be owing from an Affiliate of Borrower, (vi) the Receivable must not be owing from an Account Debtor which is subject to any insolvency or bankruptcy proceeding, or whose financial condition is not acceptable to Silicon, or which, fails or goes out of a material portion of its business, (vii) the Receivable must not be owing from the United States or any department, agency or instrumentality thereof (unless there has been compliance, to Silicon's satisfaction, with the United States Assignment of Claims Act), (viii) the Receivable must not be owing from an Account Debtor located outside the United States or Canada (unless pre-approved by Silicon in its discretion in writing, or backed by a letter of credit satisfactory to Silicon, or FCIA insured satisfactory to Silicon), (ix) the Receivable must not be owing from an Account Debtor to whom Borrower is or may be liable for goods purchased from such Account Debtor or otherwise. Receivables owing from one Account Debtor will not be deemed Eligible Receivables to the extent they exceed 25% of the total Receivables outstanding. In addition, if more than 50% of the Receivables owing from an Account Debtor are outstanding more than 90 days from their invoice date (without regard to unapplied credits) or are otherwise not eligible Receivables, then all Receivables owing from that Account Debtor will be deemed ineligible for borrowing. Silicon may, from time to time, in its discretion, revise the Minimum Eligibility Requirements, upon written notice to the Borrower.

  • Defaulted Receivable means a Receivable: