Eligible receivable

1. A defined term that describes the characteristics of accounts receivable that may be included in a borrowing base or qualify for sale in a securitization transaction.
2. Generally, "eligible receivables" will be accounts that represent obligations from account obligors that are not bankrupt or insolvent, are not more than 90 or 120 days past due and that are not subject to a defense or setoff.
3. View an Eligible Receivable definition.

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