Specified Factored Accounts definition
Specified Factored Accounts means those Accounts owing by an account debtor to a Borrower or any Guarantor which are sold in the ordinary course of business by such Borrower or Guarantor to a Factor pursuant to the applicable Factoring Documents in accordance with Section 8.2.7(vi) [Disposition of Assets or Subsidiaries].
Specified Factored Accounts means those Accounts owing by an account debtor to a Borrower which are sold by such Borrower to a Factor pursuant to the applicable Factoring Documents in accordance with Section 9.7(b)(xi) hereof.
Examples of Specified Factored Accounts in a sentence
The definition of “Eligible Accounts” in Section 1.42 of the Loan Agreement is hereby amended by deleting clause (r) of such definition in its entirety and replacing it with the following: “(r) such Accounts are not Specified Factored Accounts; and”.
Factoring Documents shall mean, collectively, all of the agreements, documents and instruments related to the sale by the Borrower or any Guarantor of Specified Factored Accounts in accordance with Section 8.2.7(vi) [Disposition of Assets or Subsidiaries].