Permitted Receivables Transaction Sample Clauses

Permitted Receivables Transaction. If the Agent or Co-Collateral Agent deems Receivables ineligible in theirits Permitted Discretion (and not based upon the criteria set forth above), then the Agent or the Co-Collateral Agent shall give the Borrower Agent five (5) Business Days’ prior notice thereof; provided that (i) any modification of the eligibility criteria set forth above shall have a reasonable relationship to circumstances, conditions, events or contingencies which are the basis for such eligibility criteria, as determined by the Agent or Co-Collateral Agent in its Permitted Discretion and (ii) circumstances, conditions, events or contingencies arising prior to the Effective Date of which the Agent or the Co-Collateral Agent had actual knowledge prior to the Effective Date shall not be the basis for any such modification after the Effective Date unless such circumstances, conditions, events or contingencies shall have changed since the Effective Date. With respect to any Receivables that were acquired or originated by any Person acquired by any U.S. Borrower after the Effective Date, the Agent and the Co-Collateral Agent shall use commercially reasonable efforts, at the expense of the U.S. Loan Parties, to complete diligence in respect of such Person and such Receivables, within a reasonable time following request of the Borrower Agent.

Permitted Receivables Transaction. Any sale or sales (including on a revolving basis) of, and/or securitization of, any accounts receivable of the Borrower and/or any of its Subsidiaries not to exceed $100,000,000 in the aggregate at any one time outstanding. Amendment to 2.3(c). Section 2.3(c) is hereby amended to read as follows: (c) In the event that the Note Purchase Agreement is not amended on or before February 20, 1997, the Borrower may request that the Total Commitment be increased by $50,000,000 hereunder, which increase is subject to the approval of the Administrative Agent; provided, however, that in the event that such an increase is approved, (i) any Bank which is a party to this Agreement prior to such increase shall not be required to increase its Commitment hereunder, (ii) such Bank's Commitment Percentage shall be correspondingly decreased to reflect such increase in the Total Commitment, and (iii) any such increase and the $50,000,000 of Total Commitment reserved pursuant to 7.18 shall be used to repay the Borrower's obligations under the Note Purchase Agreement. Amendment to 3.2(a). Section 3.2(a) is amended by substituting the phrase, "date of any drawing under any Letter of Credit" for the phrase, "Drawdown Date" in subsection (ii) thereof. Amendment to 11.1. Section 11.1 is amended by substituting the phrase, "any Drawdown Date" for the phrase, "the making of such Loan." Amendment to 12.1(f). Section 12.1(f) is amended by inserting the phrase, "any obligation in respect of" immediately prior to the first occurrence of the words, "any Indebtedness." Amendment of 18. Section 18 is amended by deleting the word "Percentage" immediately following the word "Commitment" in the first sentence thereof. Waiver of the Requirements of 18. The parties hereto hereby agree that, to the extent that the actions taken in connection with the assignments contemplated hereunder do not comply with certain requirements set forth in 18, such requirements are hereby waived by all parties, and the assignments made pursuant to this First Amendment shall be fully effective to the same extent as if all such requirements had been fulfilled. Amendment to Schedule 1 to the Credit Agreement. Schedule 1 to the Credit Agreement is hereby amended by deleting such schedule in its entirety and substituting the Schedule 1 attached hereto in place thereof. The parties hereto hereby acknowledge and agree that each reference to Schedule 1 in the Credit Agreement or any other Loan Document shall henceforth be a...

Permitted Receivables Transaction. Notwithstanding the foregoing, concurrently with the receipt of Net Cash Proceeds from any Permitted Receivables Transaction, a Dollar Equivalent amount equal to 75% of such Net Cash Proceeds shall be applied as set forth in Section 2.9(h), provided, however, if an Event of Default or Unmatured Event of Default is then continuing, a Dollar Equivalent amount equal to 100% of such Net Cash Proceeds shall be applied as set forth in Section 2.9(h). The amounts required to be prepaid by this subsection 2.9(f) shall be applied pro rata among the Term Loans, the Revolving Loans and the BA Rate Loans (based on the Dollar Equivalent amount of the then outstanding Loans under each Facility) and to permanently reduce the Revolving Commitment by an amount equal to the Receivables Commitment Reduction Amount. As to the Term Loans, payments will be applied in the inverse order of maturity, to the remaining Amortization Payments as set forth in subsection 2.11. Subject to subsection 2.12(b), all prepayments of Loans shall be made together with all amounts of accrued and unpaid interest thereon and any amounts required by Section 4.4. All such payments shall be applied to interest and such Section 4.4 amounts before application to principal.

Permitted Receivables Transaction. The Borrower will cause the Subsidiaries comprising the OSIFC Family to maintain in effect the Permitted Receivables Transaction in effect on the Closing Date or, alternatively, upon the termination by the Borrower, or receipt of written notice (or such other form of notice otherwise permitted to be given under the terms of the then effective Receivables Documents) of termination from MBIA Insurance Corporation (or such other entity serving in a similar capacity as MBIA Insurance Corporation under the then effective Receivables Documents) by the Borrower, the Borrower will, (a) within 45 days of the termination or receipt of notice of termination, as the case may be, of the Permitted Receivables Transaction then in effect, deliver to the Managing Agents a detailed summary (the "Summary") of terms and conditions with respect to another program (the "Alternative Receivables Program") providing for the sale or financing of Accounts with customary limited recourse based on the collectability of the Accounts sold, which Summary shall be satisfactory to the Managing Agents and indicate that the Alternative Receivables Program shall be, upon the consummation thereof, substantially similar to the Permitted Receivables Transaction (including the Receivables Documents evidencing such Permitted Receivables Transaction) being replaced, and in an amount of not less than that in effect on the Closing Date; and (b) within 90 days of the termination or receipt of notice of termination, as the case may be, of the Permitted Receivables Transaction then in effect, cause the Subsidiaries comprising the OSIFC Family to consummate the Alternative Receivables Program on the terms and conditions set forth in the Summary, which terms and conditions shall not have been modified or waived in any material respect unless otherwise agreed to by the Managing Agents.

Permitted Receivables Transaction. Any sale or sales of, and/or securitization of, any accounts receivable of the Borrower and/or any of its Subsidiaries (the "Receivables") pursuant to which the Borrower and its Subsidiaries realize aggregate net proceeds of not more than $100,000,000 at any one time outstanding, including, without limitation, any revolving purchase(s) of Receivables where the maximum aggregate uncollected purchase price (exclusive of any deferred purchase price) for such Receivables at any time outstanding does not exceed $100,000,000. Person. Any individual, corporation, partnership, limited liability company, trust, unincorporated association, business, or other legal entity, and any government or any governmental agency or political subdivision thereof. Pricing Table: Applicabl Applicabl Applicabl e e e Level Senior Public Debt Facility L/C Rate Margin Rating Rate (per (per (per annum) annum) annum) 1 BBB+/Baa1 0.1000% 0.1800% 0.1800% 2 BBB/Baa2 0.1250% 0.2250% 0.2250% 3 BBB-/Baa3 0.1500% 0.3000% 0.3000% 4 BB+/Ba1 0.2250% 0.4250% 0.4250% 5 BB/Ba2 or unrated 0.2500% 0.6500% 0.6500%

Permitted Receivables Transaction. The facility established by this Agreement and the other Transaction Documents constitutes a “Permitted Receivables Transaction” under and as defined in the First Lien Credit Agreement as in effect on the relevant date of determination, and such facility is permitted by the First Lien Credit Agreement.