Common use of Eligible Accounts Receivable Clause in Contracts

Eligible Accounts Receivable. Each Receivable that Borrower represents or warrants the Agent to be an Eligible Account Receivable in each Borrowing Base Certificate or other certification delivered by Borrower to the Agent pursuant to this Agreement will be, as of the date so certified, an Eligible Account Receivable unless the Agent shall in its sole discretion determine such Receivable to be ineligible.