Accounts Collateral Sample Clauses
The Accounts Collateral clause establishes that certain accounts or account-related assets are pledged as security for the obligations under an agreement. In practice, this means that the party providing the collateral grants the other party a security interest in specified bank accounts, receivables, or similar financial assets, which may be used to satisfy outstanding debts if the provider defaults. This clause is essential for protecting the secured party by ensuring they have a claim over valuable assets, thereby reducing credit risk and increasing the likelihood of recovering funds in the event of non-payment or insolvency.
Accounts Collateral all Accounts of a Borrower and all right, title and interest of a Borrower in or to any returned Goods the sale or other disposition of which gave rise to an Account, together with all rights, titles, securities and guarantees with respect to any Account, including any rights to stoppage in transit, replevin, reclamation and resales, and all related security Liens, whether voluntary or involuntary, in each case whether now existing or owned or hereafter created, arising or acquired.
Accounts Collateral. Beginning Accounts balance (A5 from previous BBC) $ -
Accounts Collateral. 1. Accounts (Net) (A1)
Accounts Collateral. 1. Accounts (Net) (A1)
2. Less: Total Ineligible Accounts
a. Accounts outstanding for > 90 days from the original invoice date
b. Credits > 90 days
c. Accounts owed by any Affiliate or Intercompany receivable
d. 35% Cross Aged
e. Accounts that exceed 20% concentration of all Accounts of the Borrower, to the extent of the excess
f. Accounts owed by a creditor of Borrower to the extent of the amount of the indebtedness (contra)
g. Accounts owed by an account debtor with a principal place of business outside of the U.S.
Accounts Collateral. SECURITY SECTION 8.01. The Accounts; Agreement As to Control _________________________________ 65 SECTION 8.02. Collateral Security; Pledge; Delivery ____________________________________ 67 ARTICLE IX THE AGENTS SECTION 9.01. Appointment of Administrative Agent and Collateral Agent __________________ 71 SECTION 9.02. Additional Provisions Relating to the Collateral Agent, Securities Intermediary and the Collateral Administrator _____________________________ 74 ARTICLE X MISCELLANEOUS SECTION 10.01. Non-Petition; Limited Recourse; Limited Recourse _________________________ 76 SECTION 10.02. Notices ___________________________________________________________ 77 SECTION 10.03. No Waiver_________________________________________________________ 77 SECTION 10.04. Expenses; Indemnity; Damage Waiver; Right of Setoff ______________________ 77 SECTION 10.05. Amendments 79 SECTION 10.06. Successors; Assignments _____________________________________________ 79 SECTION 10.07. Governing Law; Submission to Jurisdiction; Etc ___________________________ 81 SECTION 10.08. Interest Rate Limitation ______________________________________________ 81 SECTION 10.09. PATRIOT Act ______________________________________________________ 82 SECTION 10.10. Counterparts _______________________________________________________ 82 SECTION 10.11. Headings __________________________________________________________ 82 SECTION 10.12. Acknowledgement and Consent to Bail-In of Affected Financial Institutions 82 Schedules Schedule 1 Transaction Schedule Schedule 2 Contents of Notice of Acquisition Schedule 3 Eligibility Criteria Schedule 4 Schedule 5 Concentration Limitations Initial Portfolio Investments Schedule 6 ▇▇▇▇▇'▇ Industry Classifications Exhibit Exhibit A Form of Request for Advance - ii -
Accounts Collateral all Accounts of a Borrower and all right, title and interest of a Borrower in or to any returned Goods the sale or other disposition of which gave rise to an Account, together with all rights, titles, securities and guarantees with respect to any Account, including any rights to stoppage in transit, replevin, reclamation and resales, and all related security or Liens, whether voluntary or involuntary, in each case whether now existing or owned or hereafter created, arising or acquired. Accounts Formula Amount - on any date of determination thereof, an amount equal to 85% (or, upon reasonable notice to Borrowers, such lesser percentage as Lender may in its reasonable credit judgment determine from time to time) of the net amount of Eligible Accounts on such date. As used herein, the phrase “net amount of Eligible Accounts” shall mean the face amount of such Accounts on any date less any and all returns, rebates, discounts (which may, at Lender’s option, be calculated on shortest terms), credits, allowances or Taxes (including sales, excise or other taxes) at any time issued, owing, claimed by Account Debtors, granted, outstanding or payable in connection with, or any interest accrued on the amount of, such Accounts at such date. Adjusted Availability - on any date, an amount equal to the sum of (i) Availability, (ii) Domestic Cash on Hand, as determined by Lender based upon reports provided to Lender pursuant to Section 9.1.10 of the Agreement, and (iii) the Minimum Availability Reserve, in each case on such date. Adjusted Availability Cure Period - has the meaning specified in Section 9.3.2 hereof. Adjusted EBITDA - for any period, an amount equal to the sum of (i) EBITDA for such period, plus (ii) the Limited Restructuring Charges deducted in computing such EBITDA.