Receivables Program Sample Clauses

Receivables Program. The Lenders hereby acknowledge and agree that the transfer of Program Receivables by SNC to the Borrower, and the transfer of Program Receivables by the Borrower to JSF pursuant to the Receivables Program, constitute true and valid sales for consideration (or, in the case of Program Receivables contributed by the Borrower to JSF, contributions for consideration), and not a borrowing by the Borrower or SNC from JSF secured by such Program Receivables.
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Receivables Program. Any default shall have occurred and be continuing under any Receivable Program Document and as a result of such default, the Receivables Program or any successor program may be terminated or be suspended prior to the Final Maturity Date.
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Receivables Program. The Borrower shall not take any action to diminish the equity value of the Receivables Subsidiary other than to pay dividends in the ordinary course of business consistent with past practice and will continue to operate the Receivables Subsidiary in the ordinary course of business consistent with past practice."
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Receivables Program. The Borrower will not permit or suffer any commercial paper to be issued under the Receivables Program on or after the Effective Date.
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Receivables Program. Enter into, or permit its Subsidiaries to enter into, any transaction (such transaction being referred to herein as a "Receivables Program") involving (i) the sale or other financing by the Borrower or any of its Subsidiaries of installment notes receivable or other evidences of indebtedness arising in the ordinary course of business of the Borrower or any of its Subsidiaries or (ii) the incurrence by the Borrower or any of its Subsidiaries of Non-Recourse Indebtedness secured by Liens on installment notes receivable or other evidences of indebtedness arising in the ordinary course of business of the Borrower or any of its Subsidiaries (in each case, whether or not such installment notes receivable or evidences of indebtedness is required to be included on the balance sheet of the Borrower or such Subsidiary in accordance with GAAP); provided that in any twelve month period, the Borrower and its Subsidiaries may enter into Receivables Programs if the aggregate of net book value of all installment notes receivable and other evidences of indebtedness to be sold or financed in connection with all Receivables Programs in such twelve month period does not exceed 10% of Consolidated Total Capitalization as of the last day of the Borrower's most recently ended fiscal year. "Non-Recourse Indebtedness" means, as applied to any Receivables Program, Indebtedness under the terms of which no personal recourse may be had against the Borrower or any of its Subsidiaries for the payment of the principal of or interest or premium of such Indebtedness solely as a result of a default by one or more account debtors in the payment of any accounts receivable included in such Receivables Program.
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Receivables Program. Enter into, or permit its Subsidiaries to enter into, any transaction (such transaction being referred to herein as a "Receivables Program") involving (i) the sale or other financing by the Borrower or any of its Subsidiaries of installment notes receivable or other evidences of indebtedness arising in the ordinary course of business of the Borrower or any of its Subsidiaries or (ii) the incurrence by the Borrower or any of its Subsidiaries of Non-Recourse Indebtedness secured by Liens on installment notes receivable or other evidences of indebtedness arising in the ordinary course of business of the Borrower or any of its Subsidiaries (in each case, whether or not such installment notes receivable or evidences of
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Receivables Program. The Borrower shall have committed funding in an aggregate amount equal to or greater than $100,000,000 under its Receivables Program and on terms and conditions satisfactory to the Lenders.
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Receivables Program. Section 6.21 is amended in its entirety to read as follows:
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Receivables Program. Borrower may, and may permit its Subsidiaries to sell, without recourse, or with recourse not exceeding 5% of the Outstanding Receivables Advances (as defined below), accounts receivable arising in the ordinary course of business pursuant to an accounts receivable purchase facility (such facility being referred to herein as the "Receivables Program"); provided that the aggregate outstanding amount of cash advanced to Borrower and its Subsidiaries under the Receivables Program (the "Outstanding Receivables Advances") shall not at any time exceed $100,000,000.
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Related to Receivables Program

  • Receivables in Force No Receivable shall have been satisfied, subordinated or rescinded, nor shall any Financed Vehicle have been released in whole or in part from the lien granted by the related Receivable.

  • Receivables (a) No amount payable to such Grantor under or in connection with any Receivable is evidenced by any Instrument or Chattel Paper which has not been delivered to the Administrative Agent. (b) None of the obligors on any Receivables is a Governmental Authority. (c) The amounts represented by such Grantor to the Lenders from time to time as owing to such Grantor in respect of the Receivables will at such times be accurate.

  • Net Receivables Balance Seller has determined that, immediately after giving effect to each purchase hereunder, the Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the Aggregate Reserves.

  • Servicing Programs No license or approval is required for the Administrative Agent’s use of any software or other computer program used by the Servicer, any Originator or any Sub-Servicer in the servicing of the Pool Receivables, other than those which have been obtained and are in full force and effect.

  • Receivables Purchase Price On the Closing Date, the Purchaser shall deliver to the Seller the Receivables Purchase Price, as provided in Section 2.1(b).

  • INTERIM ASSET SERVICING ARRANGEMENT With respect to each asset (or liability) designated from time to time by the Receiver to be serviced by the Assuming Bank pursuant to this Arrangement (such being designated as "Pool Assets"), during the term of this Arrangement, the Assuming Bank shall:

  • Receivables Purchase Agreement The Receivables Purchase Agreement is supplemented by the addition of the following terms as Section 2.3(d):

  • Eligible Receivables Each Receivable included as an Eligible Receivable in the calculation of the Net Receivables Pool Balance as of any date is an Eligible Receivable as of such date.

  • Custody of Receivables Files To assure uniform quality in servicing the Receivables and to reduce administrative costs, the Owner Trustee on behalf of the Issuer, upon the execution and delivery of this Agreement, appoints the Servicer, and the Servicer accepts such appointment, to act as the agent of the Issuer as custodian of the following documents or instruments (the parties hereto expressly acknowledging and agreeing that the Servicer may appoint a third party to act as the agent of the Servicer to maintain possession of such documents, electronic files or instruments as contemplated by Sections 3.01(v) and 3.03(b) of this Agreement) which are hereby held by the Servicer for benefit of the Issuer with respect to each Receivable: (a) the original tangible record constituting or forming a part of such Receivable that is tangible chattel paper (as such term is defined in Section 9-102 of the UCC) fully executed by the related Obligor or a copy or image of such original tangible record that is stored in an electronic medium that the Servicer shall maintain in accordance with its customary procedures and that shall be a single “authoritative copy” (as such term is used in Section 9-105 of the UCC) of such Receivable, which authoritative copy identifies TMCC as the secured party under such Receivable or as the assignee of the secured party under such Receivable; (b) the original credit application executed by the related Obligor (or a photocopy or other image thereof that the Servicer shall keep on file in accordance with its customary procedures), on TMCC’s customary form, or on a form approved by TMCC; (c) the original certificate of title (or evidence that such certificate of title has been applied for), or a photocopy or other image thereof of such documents that the Servicer shall keep on file in accordance with TMCC’s customary procedures, evidencing the security interest in the related Financed Vehicle; and (d) any and all other documents (whether tangible or electronic) that the Seller or the Servicer, as the case may be, shall keep on file, in accordance with its customary procedures, relating to such Receivable, the related Obligor or Financed Vehicle; provided, that the Servicer may appoint one or more agents to act as subcustodians of certain items contained in a Receivables File so long as the Servicer remains primarily responsible for their safekeeping, provided further, that the Servicer shall not transmit or transfer the authoritative copy of a Receivable that is in the form of electronic chattel paper to another person unless such person is able to and agrees to maintain TMCC’s “control” (as such term is used in Section 9-105 of the UCC) over the authoritative copy or the control of any authorized assignee of TMCC.

  • Securitization In addition to any other assignment permitted pursuant to this Section, Loan Parties hereby acknowledge that (x) the Lenders, their Affiliates and Approved Funds (“Lender Parties”) may sell or securitize the Loans (a “Securitization”) through the pledge of the Loans as collateral security for loans to a Lender Party or the assignment or issuance of direct or indirect interests in the Loans (such as, for instance, collateralized loan obligations), and (y) such Securitization may be rated by a rating agency. The Loan Parties shall reasonably cooperate with the Lender Parties to effect the Securitization including, without limitation, by (a) amending this Agreement and the other Loan Documents, and executing such additional documents, as reasonably requested by the Lenders in connection with the Securitization; provided that (i) any such amendment or additional documentation does not impose material additional costs on Borrower and (ii) any such amendment or additional documentation does not materially adversely affect the rights, or materially increase the obligations, of Borrower under the Loan Documents or change or affect in a manner adverse to Borrower the financial terms of the Loans, (b) providing such information as may be reasonably requested by the Lenders or rating agencies in connection with the rating of the Loans or the Securitization, and (c) providing a certificate (i) agreeing to indemnify the Lender Parties, or any party providing credit support or otherwise participating in the Securitization, including any investors in a securitization entity (collectively, the “Securitization Parties”) for any losses, claims, damages or liabilities (the “Securitization Liabilities”) to which the Lender Parties or such Securitization Parties may become subject insofar as the Securitization Liabilities arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any Loan Document or in any writing delivered by or on behalf of any Loan Party to the Lender Partiers in connection with any Loan Document or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein, or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, and such indemnity shall survive any transfer by the Lenders or their successors or assigns of the Loans, and (ii) agreeing to reimburse the Lender Parties and the other Securitization Parties for any legal or other expenses reasonably incurred by such Persons in connection with defending the Securitization Liabilities.

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