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Eligible Receivables
Eligible Receivables contract clause examples

Eligible Receivables. The definition of “Eligible 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:

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

"Eligible Insured Receivables" means Eligible Canadian Receivables, Eligible Mexican Receivables, and Eligible U.S. Receivables that are subject to credit insurance satisfactory to [[Organization B:Organization]] in its Permitted Discretion.

subject to the provisions of [Section 2.1(c)] hereof, up to eighty-five percent (85%) ("Receivables Advance Rate") of # Eligible Canadian Receivables, # Eligible U.S. Receivables, and # Eligible Mexican Receivables (in each case, net of any Eligible Insured Receivables included in subsection # below), plus

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].

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.

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

Tenant Receivables. Rents due from tenants under Leases and from tenants or licensees under License Agreements and operating expenses and/or taxes payable by tenants under Leases (collectively, “Tenant Receivables”) and not collected by as of Closing shall not be prorated between and at Closing but shall be apportioned on the basis of the period for which the same are payable and if, as and when collected, as follows:

“Eligible Accounts” means all Eligible Accounts Receivable and all Eligible Credit Card Receivables.

Excess Government Concentration Amount” means, at any time, the amount, if any, by which the Outstanding Balance of Eligible Receivables that are Government Receivables exceeds the Government Concentration Percentage of the Outstanding Balance of all Eligible Receivables at such time.

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