Satisfactory Accounts definition
Satisfactory Accounts means only those accounts of Borrower which are eligible to be included within the Borrowing Base and which are more fully defined in the Borrowing Base Schedule to this Agreement.
Satisfactory Accounts means all Accounts in which First Security has been given a security interest except: (i) Accounts that are 90 days past invoice (unless otherwise affirmatively approved by First Security in writing); (ii) Accounts where the account debtor is not incorporated in, or is otherwise not resident in, the United States of America; (iii) Accounts any part of which is unearned (including rental payments not yet due or contracts not yet performed); (iv) Accounts which have been rewritten or the original terms of which have otherwise been modified to cure any delinquency or default; (v) Accounts not arising out of the sale of goods and services in the ordinary course of business (sales of equipment, sales of Accounts and/or sales of real property shall not be considered to be sales conducted in the ordinary course of business); (vi) tax refunds applied for but not received;
Satisfactory Accounts means all Accounts in which First Security has been given a security interest except: (i) Accounts that are 90 days past invoice (unless otherwise affirmatively approved by First Security in writing); (ii) Accounts where the account debtor is not incorporated in, or is otherwise not resident in, the United States of America; (iii) Accounts any part of which is unearned (including rental payments not yet due or contracts not yet performed); (iv) Accounts which have been rewritten or the original terms of which have otherwise been modified to cure any delinquency or default; (v) Accounts not arising out of the sale of goods and services in the ordinary course of business (sales of equipment, sales of Accounts and/or sales of real property shall not be considered to be sales conducted in the ordinary course of business); (vi) tax refunds applied for but not received; (vii) Accounts on which the account debtor is an affiliate; (viii) Accounts all or any part of which is subject to an existing counterclaim, setoff or defense being asserted by the account debtor.
More Definitions of Satisfactory Accounts
Satisfactory Accounts for Borrowing Base (A-B-C-D) x 80% = $_______________