Arrow SI Receivables. At no time shall the aggregate Unpaid Balance of Encumbered Receivables exceed 25.0% of the aggregate Unpaid Balance of all Arrow SI Receivables included in the Affected Assets.

“Encumbered Receivable Reserve” for any Calculation Period (a) so long as no Arrow Level 2 Rating Event has occurred and is continuing, means the product of (i) the aggregate Unpaid Balance of all Arrow SI Receivables and (ii) 25% and (b) upon the occurrence and continuation of an Arrow Level 2 Rating Event, the product of (i) the aggregate Unpaid Balance of all Arrow SI Receivables and (ii) 100%.

“Arrow SI Receivable” means a Receivable originated by Arrow SI.

“Arrow SI” means Arrow Systems Integration, Inc., a Delaware corporation.

“Pre-Billed Receivable” means any Receivable originated by Arrow SI which arises pursuant to a Contract with respect to which Arrow SI has not performed all obligations (if any) required to be performed by it thereunder, including shipment of the merchandise and/or the performance of the services purchased thereunder.

“Originator” means any of Arrow, Arrow ECS, Arrow Asia, ​ Canada, Arrow SI, EC America, immixTechnology and Richardson RFPD and such other originators as may be designated from time to time by the SPV with the consent of the Administrative Agent and each Investor.

“Encumbered Receivable” means any Eligible Receivable originated by Arrow SI which is encumbered by a Supplier Lien.

which, in respect of an Arrow Asia Receivable, has been originated by Arrow Asia, and when added to the aggregate Unpaid Balance of all other Arrow Asia Receivables, does not exceed an amount equal to 10% of the aggregate Unpaid Balance of all Eligible Receivables; and

Receivables. Greater than 50% of all accounts receivable of the Credit Parties and their Subsidiaries arising from the sale of BioThrax or NuThrax to Governmental Authorities of the Federal Government of the United States under a Material Contract becomes more than ninety (90) days past the

Released Receivables. As of any date of determination, the aggregate Unpaid Balance of Receivables identified by Arrow and released by the Administrative Agent pursuant to [clause (b)] of the definition of “Receivable” during the related Determination Period (as defined below) shall not exceed an amount equal to 10.0% of the average daily aggregate Unpaid Balance of all Receivables during such related Determination Period; provided, that no Receivables shall be identified or released pursuant to [clause (b)] of the definition of “Receivable” if the credit quality of all Arrow ECS Receivables, taken as a whole, after giving effect to such release shall be materially inferior to the credit quality of all Arrow ECS Receivables, taken as a whole, immediately prior to such release. Determination Period means, with respect to any date of determination, # during the first twelve (12) calendar months following the Amendment No. 26 Effective Date, the period beginning on the Amendment No. 26 Effective Date and ending on such date of determination and # thereafter, the immediately trailing twelve (12) calendar months.