Auto Supplier Support Program definition

Auto Supplier Support Program a program established by the Treasury to facilitate payment of certain receivables to automotive suppliers, including provisions for the sale of such receivables to one or more bankruptcy remote special purpose vehicles established by original automotive equipment manufacturers, including the Borrower.
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Auto Supplier Support Program means the Auto Supplier Support Program established by the United States Department of the Treasury pursuant to the authority granted to it by and under the Emergency Economic Stabilization Act of 2008 (Pub. L. 110-343, enacted October 1, 2008), as in effect on the Effective Date and including any modifications thereto, so long as such modifications are not adverse to the interests of the U.S. Borrower, any of its Subsidiaries or the Lenders in any material respect.
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Auto Supplier Support Program means the Auto Supplier Support Program established by the United States Department of the Treasury pursuant to the authority granted to it by and under the Emergency Economic Stabilization Act of 2008 (Pub. L. 110-343, enacted October 1, 2008), as in effect on the Fourth Amendment Effective Date and without regard to any modifications thereto, unless the same are not adverse to the interests of the U.S. Borrower, any of its Subsidiaries or the Lenders in any material respect.
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Examples of Auto Supplier Support Program in a sentence

  • As a result of the downturn in the economy, automotive suppliers, upon whose functioning Chrysler and GM depend, had great difficulty accessing credit.103 The viability plans of Chrysler and GM both pointed to the vulnerability of their suppliers.104 Consequently, on March 19, Treasury announced the Auto Supplier Support Program (ASSP) to make available up to $5 billion in financing.105 The government guaranteed the payment of products suppliers shipped, even if the automotive companies went under.

  • In the related Auto Supplier Support Program (ASSP), Treasury provided loans to ensure that auto suppliers receive compensation for their services and products, regardless of the condition of the auto companies that purchase their products.

  • On March 19, 2009, in order to address this situation and to provide overall structural support for the auto industry, Treasury announced the creation of the Auto Supplier Support Program (ASSP).394 390 Moody’s Investors Service, Global Credit Research, Liquidity Risk Assessment: Ally Finan- cial Inc., at 1 (Oct.

  • In February, Treasury retained Locke, Lord, Bisell & Liddell LLP to support expansion of the CPP to include S-Corporations; retained Simpson, Thatcher & Bartlet LLP to support the CAP, the additional TIP investment in Citigroup, and the development of the PPIP program; and retainedVenable LLP to perform a variety of legal services in support of Treasury’s efforts to make the CPP available to institutions organized in mutual form and to advise Treasury regarding the Auto Supplier Support Program.

  • During the quarterly period, GM Suppliers Receivable made repayments of$150 million under the Auto Supplier Support Program (“ASSP”), and as of March 31, 2010 had no loans outstanding under the program.

  • In the related Auto Supplier Support Program (ASSP), Treasury-OFS provided loans to ensure that auto suppliers receive compensation for their services and products, regard­ less of the condition of the auto companies that purchase their products.

  • On March 19, 2009, Treasury-OFS announced the Auto Supplier Support Program (ASSP) to help address this problem by providing up to $5 billion to domestic auto manufacturers to purchase supplier receivables.

  • Auto Supplier Support Program Because of the credit crisis and the rapid decline in auto sales, many of the nation's auto parts suppliers were struggling to access credit and faced uncertainty about the prospects for their businesses.

  • Recent transactions under the Auto Supplier Support Program, Consumer and Business Lending Initiative, Home Affordable Modification Program, and Systemically Significant Failing Institutions Program, when combined with $3.6 billion of transactions under the Capital Purchase Program, bring the total investment amount to $376.7 billion as April 17, 2009.Treasury will submit the next report when transactions reach the $400 billion level.

  • On March 19, 2009, Treasury announced the Auto Supplier Support Program (“ASSP”), under which Treasury will allocate $5 billion under the TARP to provide qualified automotive supply companies with financial protection on the receivables owed to these companies by domestic auto manufacturers, and to provide auto supply companies with immediate access to liquidity, thus giving domestic auto manufacturers reliable access to the parts they need.


More Definitions of Auto Supplier Support Program

Auto Supplier Support Program means the Auto Supplier Support Program established by the United States Department of the Treasury pursuant to the authority granted to it by and under the Emergency Economic Stabilization Act of 2008 (Pub. L. 110-343, enacted October 1, 2008), as in
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Auto Supplier Support Program means the $5,000,000,000 program established in April 2009 by the United States Treasury to support automotive original equipment manufacturers pursuant to which Supplier Program SPVs supported by committed credit facilities provided by the United States Treasury will purchase accounts receivable owed to suppliers by automotive original equipment manufacturers, all as more fully described in the documents posted for Lenders on IntraLinks and listed on Exhibit A to the Fourth Amendment, as such program may from time to time be extended in duration on substantially the same terms as the program existing on the date hereof.
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Auto Supplier Support Program means the accounts receivable purchase and sale facility established by the United States Department of the Treasury and announced on March 19, 2009, pursuant to which the Borrower and certain of its Subsidiaries may be eligible to sell certain of their Accounts to special purpose vehicles (each such special purpose vehicle, an “Auto Supplier Support Program SPV”) established by General Motors Corporation, Chrysler LLC or any other United States auto company eligible to participate in the program, in accordance with the terms and conditions set forth in the applicable Auto Supplier Support Program Documents.
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Auto Supplier Support Program means the Credit Agreement dated as of April 3, 2009, between GM Supplier Receivables LLC and the Lender, as amended, restated, supplemented or otherwise modified from time to time.
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Related to Auto Supplier Support Program

  • Program Support Provider means and includes with respect to each Conduit Purchaser any Liquidity Provider and any other Person (other than any customer of such Conduit Purchaser) now or hereafter extending credit or having a commitment to extend credit to or for the account of, or to make purchases from, such Conduit Purchaser pursuant to any Program Support Agreement.

  • Behavior Support Plan means the individualized proactive support strategies used to support positive behavior.

  • Support Plan means a service offering that sets out the level of service entitlements purchased by Customer as described in detail in the Agreement.

  • Customer Support means the services by which 21Vianet may provide assistance to Customer to resolve issues with the Services.

  • Child support services means any civil, criminal or administrative action taken by the Division of

  • Pharmacy support person means a person, other than a licensed pharmacist, a registered pharmacist-intern, or a registered pharmacy technician, who may perform nontechnical duties assigned by a supervising pharmacist under the pharmacist’s responsibility and supervision.

  • Support Provider means in relation to Party A, none. Credit Support Provider means in relation to Party B, none.

  • Data Supplier means a third party supplier of Market Data.

  • Other Supplier means any supplier to the Customer (other than the Supplier) which is notified to the Supplier from time to time and/or of which the Supplier should have been aware;

  • Peer support specialist means an individual who has experienced a severe and persistent mental illness and who has successfully completed standardized training to provide peer support services through the medical assistance program or the Iowa Behavioral Health Care Plan.

  • Former Supplier a supplier supplying services to the Customer before the Relevant Transfer Date that are the same as or substantially similar to the Services (or any part of the Services) and shall include any sub-contractor of such supplier (or any sub-contractor of any such sub-contractor);

  • licensed water supplier means a company which is the holder for the time being of a water supply licence under Section 17A(1) of the 1991 Act(f);

  • Customer Agreement means a written agreement entered into between Provider and any Customer pursuant to which a Customer orders BPO Services from Provider.

  • Medical Child Support Order means any judgment, decree or order (including approval of a domestic relations settlement agreement) issued by a court of competent jurisdiction that:

  • Technical Support Services means the technical support and maintenance Services provided by us according to our then-current technical support policy and procedure listed at xxxxxxxxxxxxx.xxx (“Technical Support Policy”) when the Services are purchased.

  • Child support order means a support order for a child, including a child who has attained the age of majority under the law of the issuing state or foreign country.

  • Individual Support Plan means a document in writing (as amended from time to time) between You and a Service User, their family, guardian, advocate or financial manager about the disability services to be delivered to the Service User and how those services will be delivered to meet the Service User’s identified goals;

  • AML Program has the meaning ascribed thereto in Schedule 2.1(F)(8) hereof.

  • service supplier means any person that supplies a service;

  • End User Agreement means any agreement that Eligible Users are required to sign in order to participate in this Contract including an end user agreement, customer agreement, memorandum of understanding, statement of work, lease agreement, service level agreement, or any other named separate agreement.

  • Program Support Agreement means and includes any Liquidity Agreement and any other agreement entered into by any Program Support Provider providing for: (a) the issuance of one or more letters of credit for the account of any Conduit Purchaser, (b) the issuance of one or more surety bonds for which the such Conduit Purchaser is obligated to reimburse the applicable Program Support Provider for any drawings thereunder, (c) the sale by such Conduit Purchaser to any Program Support Provider of the Purchased Interest (or portions thereof) maintained by such Conduit Purchaser and/or (d) the making of loans and/or other extensions of credit to any Conduit Purchaser in connection with such Conduit Purchaser’s securitization program contemplated in this Agreement, together with any letter of credit, surety bond or other instrument issued thereunder.

  • Credit Support Provider has the meaning specified in the Schedule.

  • Framework Suppliers means the suppliers (including the Supplier) appointed under this Framework Agreement or agreements on the same or similar terms to this Framework Agreement as part of this Framework;

  • Level 1 Support means qualifying and logging all Technical Support Incidents, answering technical inquiries via telephone support and email regarding the Work and performing limited diagnostic services.

  • SAP Support means SAP's then current support offering made available to Customer, as stated in the Order Form.

  • Outsourcing facility means a facility that is engaged in the compounding of sterile drugs and is currently registered as an outsourcing facility with the U.S. Secretary of Health and Human Services and that complies with all applicable requirements of federal and state law, including the Federal Food, Drug, and Cosmetic Act.