Example ContractsClausesEligibility of Receivables
Eligibility of Receivables
Eligibility of Receivables contract clause examples

As of the initial Funding Date, # [Schedule C] and the information contained in the Funding Request delivered pursuant to Section 2.01 is an accurate and complete listing in all material respects of the Receivables constituting a portion of the Collateral as of the date of the Initial Loan and the information contained therein with respect to the identity of such Receivables and the amounts owing thereunder is true and correct in all material respects as of the related Cutoff Date, # each such Receivable is an Eligible Receivable, # each such Receivable is free and clear of any Lien of any Person (other than Permitted Liens) and in compliance, in all material respects, with all Applicable Laws and # with respect to each such Receivable, all material consents, licenses, approvals or authorizations of or registrations or declarations with any Governmental Authority required to be obtained, effected or given by the Borrower in connection with the origination, purchase and pledge of such Receivable and the related Collateral to the Administrative Agent have been duly obtained, effected or given and are in full force and effect; 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

"Eligibility Criteria" means the eligibility criteria in respect of the Purchased Receivables set out in [Schedule 1] of this Agreement.

Notify [[Organization B:Organization]] immediately if any of its Receivables arise out of contracts between any Loan Party and # the United States, any state, or any department, agency or instrumentality of any of them, and # Canada or any department, agency, instrumentality or crown corporation thereof.

Eligible Receivables. The definition ofEligible Receivables” set forth in Section 1.01 of the Credit Agreement is hereby amended by # deleting “; or” at the end of [clause (q)] and replacing it with a semicolon, # deleting the period at the end of [clause (r)] and replacing it with “; or”, and # adding the following new [clause (s)] immediately [following clause (r)] therein:

Governmental Receivables. To collect all amounts due from any government agency by reason of sale of Wound Care Products (“Government Receivables”), and to receive and administer all payments from all Government Receivables in the Provider’s name and on the Provider’s behalf, and to deposit such amounts in a bank account in the Provider’s name (“Provider Lockbox Account”). The Provider Lockbox Account may be established for Provider by Manager but the account shall be the sole and exclusive property of Provider. Manager shall have no control over and shall not be authorized to make withdrawals from the Provider Lockbox Account. It shall, however, be a material breach of this Agreement by Provider to terminate the Manager’s ability to sweep the amounts received in the Provider Lockbox Account into the Operating Account as set forth in [Section 3.1.5].

Government Receivables. The account debtor is not the United States or any agency or department thereof.

Eligibility. Each Participant whose employment is involuntarily terminated shall receive Severance Pay; provided, however, that Severance Pay shall not be paid to any Participant who:

Eligibility. The Board may grant Awards to any Eligible Director, whether or not he or she has previously received an Award.

Eligibility. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units may be granted to Service Providers. Incentive Stock Options may be granted only to Employees.

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