Nautilus 2009 Annual Report Download - page 283

(ee) A Consumer Finance Account Receivable as to which Borrower has not received any notice of the death or insolvency of
the account debtor (and, upon the receipt of any such notice, Borrower promptly shall advise Lender of the event or occurrence in question);
(ff) A Consumer Finance Account Receivable as to which the account debtor’s obligation to Borrower is denominated and
payable in United States currency;
(gg) A Consumer Finance Account Receivable to the extent that it does not consist of Retainage;
(hh) A Consumer Finance Account Receivable to the extent that it does not result from or consist of billings for goods not
delivered or services not performed;
(ii) A Consumer Finance Account Receivable to the extent that it does not relate to work-in-progress result from or consist of
progress billings in excess of the amount permitted by the terms of the applicable contract;
(jj) A Consumer Finance Account Receivable from an account creditor whose FICO score is greater than 680; and
(kk) A Consumer Finance Account Receivable that is not a Consumer Finance Accounts Receivable that Lender determines in
its Permitted Discretion to be ineligible in whole or in part and has provided Borrower written notice thereof.
Lender’s calculation and determination of Eligible Consumer Finance Accounts Receivable shall be binding and conclusive, absent manifest
error.
“ Eligible Inventory ” means all Inventory of Borrower in which Lender has a valid, perfected first priority security interest, except
the following:
(a) Work in progress or works in process;
(b) Inventory located outside the United States;
(c) Inventory that is in transit;
(d) Inventory that consists of parts and components;
(e) Damaged or obsolete Inventory;
(f) Inventory that is not merchantable;
(g) Inventory to the extent of any progress payments, pre-
delivery payments, deposits, or other amounts received by Borrower
in anticipation of the sale of such Inventory to another Person;
(h) All goods that are leased to or from others by Borrower;
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