Common use of Trade Receivables Clause in Contracts

Trade Receivables. 10.1 If a Guarantor Company grants security over its trade receivables it shall be free to deal with those receivables in the ordinary course of its business or otherwise as permitted under the Secured Documents until an Enforcement Event. 10.2 Security over receivables shall not prohibit the transfer of receivables as permitted under the Secured Documents (including without limitation under any receivables financing agreement or arrangement) nor shall any such security continue to attach to receivables so transferred. 10.3 No notice of security may be served until the occurrence of an Enforcement Event. 10.4 No security will be granted over any trade receivables which cannot be secured under the terms of the relevant contract or are subject to any permitted non-recourse factoring arrangement. 10.5 Any list of trade receivables required shall not include details of the underlying contracts and no lists thereof shall be required to be provided or updated. 10.6 No security shall be required to be granted over or in respect of receivables in respect of any school fees or similar fees payable by or in respect of students at any school or college owned or operated by any member of the Group.

Trade Receivables. 10.1 9.1 If a Guarantor Company grants security over its trade receivables it shall be free to deal with those receivables in the ordinary course of its business or otherwise as permitted under the Secured Documents until an Enforcement Event. 10.2 9.2 Security over receivables shall not prohibit the transfer of receivables as permitted under the Secured Documents (including without limitation under any receivables financing agreement or arrangement) nor shall any such security continue to attach to receivables so transferred. 10.3 9.3 No notice of security may be served until the occurrence of an Enforcement Event. 10.4 9.4 No security will be granted over any trade receivables which cannot be secured under the terms of the relevant contract or are subject to any permitted non-recourse factoring arrangement. 10.5 9.5 Any list of trade receivables required shall not include details of the underlying contracts and no lists thereof shall be required to be provided or updated. 10.6 9.6 No security shall be required to be granted over or in respect of receivables in respect of any school fees or similar fees payable by or in respect of students at any school or college owned or operated by any member of the Group.

Trade Receivables. 10.1 If a Guarantor Company grants security over its trade receivables it shall be free to deal with those receivables in the ordinary course of its business or otherwise as permitted under the Secured Documents until an Enforcement Event. 10.2 Security over receivables shall not prohibit the transfer of receivables as permitted under the Secured Documents (including including, without limitation limitation, under any receivables financing agreement or arrangement) nor shall any such security continue to attach to receivables so transferred. 10.3 No notice of security may be served until the occurrence of an Enforcement Event. 10.4 No security will be granted over any trade receivables which cannot be secured under the terms of the relevant contract or are subject to any permitted non-recourse factoring arrangement. 10.5 Any list of trade receivables required shall not include details of the underlying contracts and no lists thereof shall be required to be provided or updated. 10.6 No security shall be required to be granted over or in respect of receivables in respect of any school fees or similar fees payable by or in respect of students at any school or college owned or operated by any member of the Restricted Group.