Common use of Termination of Existing Receivables Arrangements Clause in Contracts

Termination of Existing Receivables Arrangements. Administrative Agent shall have received satisfactory evidence of the termination of each existing arrangement under which Accounts of any Originator have been or are transferred to any entity (including any affiliate of Anixter) other than ARC (including the 2011 Receivables Purchase Agreement); and release or transfer, as applicable, of all liens, if any, granted under each such existing arrangement; and return transfer to ARC by each such ultimate transferee and any intermediate transferee under any such existing arrangement of all accounts receivable of Anixter or such Originator transferred to such transferee thereunder.

Termination of Existing Receivables Arrangements. The Administrative Agent shall have received satisfactory evidence of the termination of each existing arrangement under which Accounts Receivables of any Originator have been or are transferred to any entity (including any affiliate of Anixter) other than ARC the Borrower (including the 2011 Receivables Purchase Agreement); and release or transfer, as applicable, of all liens, if any, granted under each such existing arrangement; and return transfer to ARC the Borrower by each such ultimate transferee and any intermediate transferee under any such existing arrangement of all accounts receivable of Anixter or such Originator transferred to such transferee thereunder.