Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Borrower in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Borrower or any Affiliate of the Borrower (other than any such SPE) except to the extent of the breach of a representation or warranty by the Borrower in connection therewith or (b) any negative pledge or Lien on any accounts receivable or other assets not actually transferred to any such SPE in connection with such arrangement.
Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Partnership and its Restricted Subsidiaries in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Partnership and its Restricted Subsidiaries or any Affiliate of the Partnership and its Restricted Subsidiaries (other than any such SPE) except to the extent of the breach of a representation or warranty by the Partnership and its Restricted Subsidiaries in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement.
Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Borrower and its Subsidiaries in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Borrower and its Subsidiaries or any Affiliate of the Borrower and its Subsidiaries (other than any such SPE) except to the extent of the breach of a representation or warranty by the Borrower and its Subsidiaries in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement.
Examples of Accounts Receivable Securitization in a sentence
No Unrestricted Subsidiary may be a Participating Subsidiary in a Permitted Accounts Receivable Securitization.
Accounts Receivable Securitization The Company has an accounts receivable securitization program whereby the Company sells receivables in securitization transactions and retains a subordinated interest and servicing rights to those receivables.
Notes payable and commercial bank financing consisted of the following as of December 31, 2020 and 2019 (in millions):(a)We entered into the accounts receivable securitization facility (the A/R Facility) on September 23, 2020, as more fully described below under Accounts Receivable Securitization Facility.(b)On June 10, 2020, we exchanged a portion of principal of the 6.625% Unsecured Note for cash payment and the newly issued 12.750% Secured Notes, as more fully described below under Notes.
For the avoidance of doubt, accounts receivable included in the Pro Forma Working Capital Calculation assumes the Accounts Receivable Securitization Facility has been unwound, pursuant to Section 7.1(d).
Accounts Receivable Securitization Program In 2016, we entered into a trade receivable securitization program.
More Definitions of Accounts Receivable Securitization
Accounts Receivable Securitization means a financing arrangement entered into prior to the Distribution by Xxxxxxxx 66 Company, and approved by ConocoPhillips, involving the transfer or sale of accounts receivable of Xxxxxxxx 66 Company or any member of the Xxxxxxxx 66 Group.
Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Partnership and its Restricted Subsidiaries in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Partnership and its Restricted Subsidiaries or any Affiliate of the Partnership and its Restricted Subsidiaries (other than any such SPE) except to the extent of the breach of a representation or warranty by the Partnership and its Restricted Subsidiaries in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement; provided that the aggregate amount of accounts receivable that may be securitized in all Accounts Receivable Securitizations at any one time may not exceed $100 million.
Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Borrower and its Restricted Subsidiaries in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Borrower and its Restricted Subsidiaries or any Affiliate of the Borrower and its Restricted Subsidiaries (other than any such SPE) except to the extent of the breach of a representation or warranty by the Borrower and its Restricted Subsidiaries in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement; provided that the aggregate amount of accounts receivable that may be securitized in all Accounts Receivable Securitizations at any one time may not exceed $100,000,000.
Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of Securitization Assets in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Company and its Restricted Subsidiaries or any affiliate of the Company and its Restricted Subsidiaries (other than any such SPE) except that Standard Securitization Undertakings shall not be considered recourse or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement.
Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of Lessee in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon Lessee or any Affiliate of Lessee (other than any such SPE) except to the extent of the breach of a representation or warranty by Lessee in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement.
Accounts Receivable Securitization. The trade receivables purchase facility between the Borrower and Market Street Funding Corporation on terms pursuant to which the Borrower and certain of its Subsidiaries will sell or grant a security interest in its accounts receivable or an undivided interest therein, provided, that the aggregate Capital (as such term is defined in the Accounts Receivable Securitization Documents) shall not exceed $100,000,000.
Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Company and its Restricted Subsidiaries in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Company and its Restricted Subsidiaries or any Affiliate of the Company and its Restricted Subsidiaries (other than any such SPE) except to the extent of the breach of a representation or warranty by the Company and its Restricted Subsidiaries in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement.