ABL Assets definition

ABL Assets means (i) accounts (as defined in the Uniform Commercial Code or the PPSA or any similar legislation) of Borrower and any Restricted Subsidiary, (ii) equipment (as defined in the Uniform Commercial Code or the PPSA or any similar legislation) of Borrower and any Restricted Subsidiary and (iii) all railcars, chassis, trucks, trailers or tractors owned by Borrower and any Restricted Subsidiary.
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ABL Assets means any Accounts and Inventory (as such terms are defined in the Revolving Credit Agreement) of the Borrower or any Subsidiary.
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ABL Assets has the meaning assigned to such term in Section 6.02(ii).
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Examples of ABL Assets in a sentence

  • In the event that all obligations secured by the ABL Assets shall have been paid in full and liens created with respect thereto shall have been terminated or released, then the ABL Agent shall promptly notify the other parties hereto, and the ABL Agent thereafter shall no longer have any rights or obligations hereunder.

  • To the extent of the actual knowledge of the current senior management of Adaptive exercised in good faith using commercially reasonable efforts to verify the representations and warranties set forth herein but without any further obligation of investigation, Schedule 4.8(a) sets forth any Liens applicable to --------------- the ABL Assets.

  • The parties acknowledge that such property may be necessary to or useful in the servicing, administration and collection of the ABL Assets and the Securitization Assets and agree to cooperate in good faith such that the respective interests of the ABL Agent and the Securitization Trustee therein and with respect thereto shall be protected and preserved.

  • The foregoing consent and agreement is expressly limited to the Note Purchase Documents and the Note Purchase Debt, and shall not be construed to permit (i) any Borrower to incur any Debt that is not Permitted Debt, (ii) the Note Purchase Debt to be secured by any Liens on any assets of any Borrower, nor (iii) any Note Purchase Documents to contain any restriction described in subclause (a) of Section 5.4 of the Credit Agreement as it relates to Liens on ABL Assets in favor of Agent.

  • Release of Charges Against the ABL Assets ...........................

  • Simultaneously therewith, Seller shall take (or shall cause to be taken) all steps necessary to put Purchaser in possession or operating control of the Adaptive Assets (including the ABL Assets) which are in Seller's possession or operating control.

  • Conn represents that it employs a billing process and record keeping process that clearly distinguishes between the ABL Assets and the Securitization Assets and collections and other remittances (including checks, drafts, credit card payments, instruments and cash) with respect thereto (collectively, the "Remittances").

  • Without in any way limiting the foregoing, Seller hereby disclaims any warranty (express or implied) of merchantability or fitness for any particular purpose as to any portion of the Adaptive Assets (including the ABL Assets).

  • Adaptive has valid title to and is the exclusive legal and equitable owner, or is the licensee or lessee of, and, subject to the entry of the Approval Order, has the unrestricted power and right to sell, and assign all of its right, title and interest in, to and under the Adaptive Assets (excluding the ABL Assets) to be sold and assigned to Adaptive pursuant to this Agreement.

  • Except as otherwise provided in the immediately preceding sentence, in the event that any of the ABL Assets or the Securitization Assets become commingled, then each of the ABL Agent and the Securitization Trustee shall, in good faith, cooperate with each other to separate the ABL Assets and the Securitization Assets.