Common use of Receivables Corporation Clause in Contracts

Receivables Corporation. The Borrower will not at any time permit any Receivables Corporation (a) to own or hold any assets, or conduct any operations, other than those reasonably necessary to comply with the terms of a permitted Receivables Facility that is described in subpart (i) of the proviso to such definition and to which such Receivables Corporation is a party, or (b) to incur, assume or suffer to exist any Indebtedness other than (x) Indebtedness under a permitted Receivables Facility described in subpart (i) of the proviso to such definition with aggregate principal outstandings at no time exceeding the maximum amounts set forth in such definition and (y) subordinated Indebtedness owing to the Borrower or any Subsidiary as part of the consideration for transfers of assets to the Receivables Corporation.

Receivables Corporation. The Borrower (a) will not at any time permit any Receivables Corporation (ai) to own or hold any assets, or conduct any operations, other than those reasonably necessary to comply with the terms of a permitted Receivables Facility that is described in subpart (i) of the proviso to such definition and to which such Receivables Corporation is a party, or (bii) to incur, assume or suffer to exist any Indebtedness other than (x) Indebtedness under a permitted Receivables Facility described in subpart (i) of the proviso to such definition with aggregate principal outstandings at no time exceeding the maximum amounts set forth in such definition and (yb) subordinated Indebtedness owing to the Borrower or will not, and will not permit any Subsidiary as part that is not a Receivables Corporation to guarantee any Indebtedness of the consideration for transfers of assets to the any Receivables Corporation.

Receivables Corporation. The Borrower Borrower (a) will not at any time permit any Receivables Corporation (ai) to own or hold any assets, or conduct any operations, other than those reasonably necessary to comply with the terms of a permitted Receivables Facility that is described in subpart (i) of the proviso to such definition and to which such Receivables Corporation is a party, or (bii) to incur, assume or suffer to exist any Indebtedness other than (x) Indebtedness under a permitted Receivables Facility described in subpart (i) of the proviso to such definition with aggregate principal outstandings at no time exceeding the maximum amounts set forth in such definition and (yb) subordinated Indebtedness owing to the Borrower or will not, and will not permit any Subsidiary as part that is not a Receivables Corporation to guarantee any Indebtedness of the consideration for transfers of assets to the any Receivables Corporation.