“Eligible Receivables” shall mean and include with respect to each Borrower, each Receivable of such Borrower arising in the Ordinary Course of Business and which Agent, in its Permitted Discretion, shall deem to be an Eligible Receivable, based on such considerations as Agent may from time to time deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by an invoice or other documentary evidence reasonably satisfactory to Agent. In addition, no Receivable shall be an Eligible Receivable if:

“Eligible Receivables” shall mean and include, each Receivable of a Borrower arising in the Ordinary Course of Business and which Agent, in its reasonable credit judgment, shall deem to be an Eligible Receivable, based on such considerations as Agent may from time to time reasonably deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by an invoice or other documentary evidence satisfactory to Agent. In addition, no Receivable shall be an Eligible Receivable if:

"Eligible Receivables" shall mean and include with respect to each Loan Party, each Receivable of such Loan Party arising in the Ordinary Course of Business and which [[Organization B:Organization]], in its Permitted Discretion, shall deem to be an Eligible Receivable, based on such considerations as [[Organization B:Organization]] may from time to time deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to [[Organization B:Organization]]'s first priority perfected security interest and no other Lien (other than any Permitted Liens), and is evidenced by an invoice or other documentary evidence satisfactory to [[Organization B:Organization]]. In addition, no Receivable shall be an Eligible Receivable if: