(viii) bill and hold (deferred shipment) or consignment sales;
(ix) any account from an account debtor which is: (A) insolvent, (B) the debtor in any bankruptcy, insolvency, arrangement, reorganization, receivership or similar proceedings under any federal or state law, (C) negotiating, or has called a meeting of its creditors for purposes of negotiating, a compromise of its debts or (D) has a credit rating unacceptable to the Administrative Agent in its reasonable discretion;
(x) any account in which any other Person (other than the Administrative Agent) has a Lien, other than a Permitted Lien; and
(xi) any account deemed ineligible by the Administrative Agent, when the Administrative Agent in its reasonable discretion with notice to the Borrower deems (x) the creditworthiness or financial condition of the account debtor, (y) the industry in which the account debtor is engaged or (z) the country of origin of any account debtor, to be unsatisfactory.
Notwithstanding anything herein to the contrary, all of the foregoing shall be determined by the Administrative Agent upon receipt and review of all collateral reports required hereunder, and such other documents and collateral information as Administrative Agent may from time to time require. If after receipt and review of such collateral reports and exams, the Administrative Agent reasonably concludes that Borrower has included in the Borrowing Base accounts which are not in fact Eligible Accounts Receivable, the Administrative Agent may reduce the Borrowing Base accordingly.
Eligible Assignee means any Person that meets the requirements to be an assignee under Section 11.9(b)(iii), (v) and (vi) (subject to such consents, if any, as may be required under Section 11.9(b)(iii)).
Employee Benefit Plan means (a) any employee benefit plan within the meaning of Section 3(3) of ERISA that is maintained for employees of any Credit Party or any ERISA Affiliate or (b) any Pension Plan or Multiemployer Plan that has at any time within the preceding seven (7) years been maintained, funded or administered for the employees of any Credit Party or any current or former ERISA Affiliate.
Environmental Claims means any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, accusations, allegations, notices of noncompliance or violation, investigations (other than internal reports prepared by any Person in the ordinary course of business and not in response to any third party action or request of any kind) or proceedings relating in any way to any actual or alleged violation of or liability under any Environmental Law or relating to any permit issued, or any approval given, under any such Environmental Law, including, without limitation, any and all claims by Governmental Authorities for enforcement, cleanup, removal, response, remedial or other actions or damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting from Hazardous Materials or arising from alleged injury or threat of injury to public health or the environment.
Environmental Laws means any and all federal, foreign, state, provincial and local laws, statutes, ordinances, codes, rules, standards and regulations, permits, licenses, approvals, interpretations and orders of courts or Governmental Authorities, relating to the protection of public health or the environment, including, but not limited to, requirements pertaining to the manufacture, processing, distribution, use, treatment, storage, disposal, transportation, handling, reporting, licensing, permitting, investigation or remediation of Hazardous Materials.