Existing Securitization Facility definition

Existing Securitization Facility means the account receivable securitization pursuant to the third amended and restated receivables purchase agreement dated as of February 27, 2017, as amended, among Avnet Receivables Corporation, the Company as servicer, the financial institutions party thereto as purchasers, and JPMorgan Chase Bank, N.A., as agent for the purchasers, including any extensions, renewals, replacements and refinancings thereof; provided, that each such agreement (as amended, restated, supplemented or otherwise modified from time to time) or extension, renewal, replacement or refinancing, as the case may be, satisfies the requirements set forth in clause (b) of the definition of Permitted Securitization Facility.

Existing Securitization Facility means the accounts receivable securitization financing of P&L Receivables Company LLC existing as of the Closing Date, and any replacements, refinancings, amendments, restatements, renewals or extensions thereof, subject in each case to the restrictions set forth in the definition of Permitted Securitization Programs.

Existing Securitization Facility means the Amended and Restated Receivables Purchase Agreement dated as of October 1, 2011, by and among MPC Trade Receivables Company LLC, Marathon Petroleum Company LP, the Purchasers (as defined therein) from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and certain other agents from time to time party thereto.

Examples of Existing Securitization Facility in a sentence

• The proceeds of Revolver Loans shall be used by Borrowers solely (a) to satisfy all obligations under the Existing Securitization Facility; (b) to pay fees and transaction expenses associated with the closing of this credit facility; (c) to pay Obligations in accordance with this Agreement; and (d) for working capital and other lawful corporate purposes of Borrowers.

• ABS Contract Portfolio: portfolio of Contracts subject to the Existing Securitization Facility and any other Permitted ABS Transaction.

• The Collateral Adjustment Percentage shall be calculated based on the lower of (x) the Collateral Adjustment Percentage determined based on the portfolio of Contracts subject to Agent’s Lien pursuant to the Security Documents, and (y) the Collateral Adjustment Percentage determined based on the combined portfolio of Contracts subject to Agent’s Lien pursuant to the Security Documents as well as those Contracts subject to the Existing Securitization Facility and any other Permitted ABS Transaction.

• With respect to the covenants contained in this Section 10.3, in the event that the Existing Securitization Facility becomes an on-balance sheet transaction in compliance with GAAP, all Debt and other related affects associated with the Existing Securitization Facility shall be excluded from the calculation of financial covenants set forth herein.

• At the election of the Borrower and the applicable L/C Issuer, and subject to the approval (not to be unreasonably withheld or delayed) of the Administrative Agent, any letters of credit issued by an L/C Issuer under the Existing Securitization Facility may be deemed to be a Letter of Credit for all purposes under this Agreement (and, for the avoidance of doubt, shall not be treated as outstanding under the Existing Securitization Facility upon such election and approval).

More Definitions of Existing Securitization Facility

Existing Securitization Facility means the receivables facility established pursuant to the Third Amended and Restated Receivables Purchase Agreement, dated as of September 24, 2012, among United Rentals Receivables LLC II, as seller, Holdings, as collection agent, Liberty Street Funding LLC, as a purchaser, Gotham Funding Corporation, as a purchaser, PNC Bank, National Association, as purchaser agent for itself and as a bank, MUFG Bank, Ltd., as a purchaser agent and as a bank, Truist Bank, as purchaser agent for itself and as a bank, The Toronto-Dominion Bank, as purchaser agent for itself and as a bank, and The Bank of Nova Scotia, as administrative agent, as a bank and as a purchaser agent, as amended, modified or supplemented from time to time, and the other Transaction Documents under and as defined therein.

Existing Securitization Facility means the Receivables Purchase Agreement, dated as of June 18, 2012, by and among ArvinMeritor Receivables Corporation, the Company, the various conduit purchasers, related committed purchasers, LC participants and purchaser agents from to time party thereto and PNC Bank, National Association, as amended or supplemented to the date of this Agreement.

Existing Securitization Facility means the receivables facility established pursuant to the Receivables Purchase Agreement dated as of May 31, 2005 among United Rentals Receivables LLC II, as seller, Holdings, as collection agent, Atlantic Asset Securitization Corp., as a purchaser, Liberty Street Funding Corp., as a purchaser, Calyon New York Branch, as a purchaser agent and The Bank of Nova Scotia, as a purchaser agent and a bank, and the other Transaction Documents under and as defined therein.

Existing Securitization Facility means the facility governed by the Amended and Restated Base Indenture, dated as of April 24, 2018, entered into by and among Driven Brands Funding, LLC, a Delaware limited liability company, Driven Brands Canada Funding Corporation, a Canadian corporation, and Citibank, N.A., and, as the context requires, the other Transaction Documents as defined thereunder and entered into in connection therewith, in each case, as amended, restated, supplemented or otherwise modified from time to time.

Existing Securitization Facility means the receivables facility established pursuant to the Purchase and Contribution Agreement, dated as of September 17, 2018, among Herc Rentals Inc., as seller and collection agent, Cinelease, Inc., as seller, and Herc Receivables U.S. LLC, as purchaser, and the Receivables Financing Agreement, dated as of September 17, 2018, among Herc Receivables U.S. LLC, the Company, the lenders and managing agents from time to time party thereto and Credit Agricole Corporate and Investment Bank, as administrative agent, as amended, modified or supplemented from time to time.

Existing Securitization Facility means the account receivable securitization pursuant to the amended and restated receivables purchase agreement dated as of February 6, 2002, among Avnet Receivables Corporation, the Company as servicer, the financial institutions party thereto as purchasers, and JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA) as agent for the purchasers, as amended, restated, supplemented or otherwise modified from time to time, including any extensions, renewals, replacements and refinancings thereof; provided, that each such agreement (as amended, restated, supplemented or otherwise modified from time to time) or extension, renewal, replacement or refinancing, as the case may be, satisfies the requirements set forth in clause (b) of the definition of Permitted Securitization Facility.

Existing Securitization Facility means the existing receivables securitization facility under the Existing Receivables Purchase and Sale Agreements.