Factored Receivables definition

Factored Receivables means any Accounts originally owed or owing by a Loan Party to another Person which have been purchased by or factored with Xxxxx Fargo or any of its Affiliates pursuant to a factoring arrangement or otherwise with the Person that sold the goods or rendered the services to the Loan Party which gave rise to such Account.

Factored Receivables means any Accounts originally owed or owing by a Loan Party to another Person which have been purchased by or factored with Wells Fargo or any of its Affiliates pursuant to a factoring arrangement or otherwise with the Person that sold the goods or rendered the services to the Loan Party which gave rise to such Account.

Factored Receivables means any Accounts of a Credit Party which have been factored or sold by an account debtor of a Credit Party to M&T or any of its Affiliates pursuant to a factoring arrangement or otherwise.

Examples of Factored Receivables in a sentence

• Subject to the terms of the Factoring Agreement (as applicable with respect to the Eligible Factored Receivables) during the continuance of an Event of Default, Agent shall have the right to send notice of the assignment of, and Agent’s security interest in, the Receivables to any and all Customers or any third party holding or otherwise concerned with any of the Collateral.

• Subject to the terms of the Factoring Agreement (as applicable with respect to the Eligible Factored Receivables), Agent may, during the continuance of an Event of Default, without notice or consent from any Loan Party, xxx upon or otherwise collect, extend the time of payment of, compromise or settle for cash, credit or upon any terms any of the Receivables or any other securities, instruments or insurance applicable thereto and/or release any obligor thereof.

• Subject to the terms of the Factoring Agreement (as applicable with respect to the Eligible Factored Receivables), Agent shall have the right to receive, endorse, assign and/or deliver in the name of Agent or any Loan Party any and all checks, drafts and other instruments for the payment of money relating to the Receivables, and each Loan Party hereby waives notice of presentment, protest and non-payment of any instrument so endorsed.

• Subject to the terms of the Factoring Agreement (as applicable with respect to the Eligible Factored Receivables), Agent shall have the right at any time when an Event of Default has occurred which is then continuing, to change the address for delivery of mail addressed to any Loan Party to such address as Agent may designate and to receive, open and dispose of all mail addressed to any Loan Party.

• GE shall cause the Factoring Entity to enter into the Xxxx of Sale, pursuant to which it shall transfer to Buyer at Closing the Factored Receivables.

More Definitions of Factored Receivables

Factored Receivables means any Accounts of a Loan Party which have been factored or sold by an Account Debtor of a Loan Party to Wells Fargo or any of its Affiliates pursuant to a factoring arrangement or otherwise.

Factored Receivables means Receivables purchased by Factor from Borrower, which Receivables have been credit approved by Factor pursuant to the Factoring Agreement.

Factored Receivables means any accounts of any Borrower which have been factored, sold, transferred, conditionally sold or assigned by an Account Debtor of such Borrower to a Bank Product Provider pursuant to a factoring arrangement or otherwise.

Factored Receivables means all receivables of the Business and related rights that are uncollected and sold to the Factoring Entity pursuant to the Multiple Seller Sale Agreement prior to the Closing.

Factored Receivables means an amount equal to the sum of: Autozone Factored Receivables plus Advance Auto Factored Receivables plus CarQuest/GPI Factored Receivables plus the aggregate invoiced amount of all other accounts receivable due to the Company or its Subsidiaries that have been purchased for cash as part of a similar factoring arrangement and that were invoiced by the Company or its Subsidiaries and purchased by the bank or other Person providing such financing prior to the Closing Date, for which the Company has received cash as of the Closing, and for which the bank has not received cash from the applicable third party in accordance with the terms of the applicable factoring arrangement as of the Closing Date.

Factored Receivables means certain transportation related Accounts Receivable of Faneuil that are not Eligible Accounts Receivable which are sold, transferred or otherwise conveyed by Faneuil to the Factor from time to time pursuant to the Factoring Agreement.

Factored Receivables means any Accounts originally owed or owing by a Loan Party to another Person which have been purchased by or factored with Xxxxx Fargo or any of its Affiliates pursuant to a factoring arrangement or otherwise with the Person that sold the goods or rendered the services to the Loan Party which gave rise to such Account. “Facility Guaranty” means the Amended and Restated Guaranty dated as of June 30, 2011 executed by the Facility Guarantors in favor of the Agents, the Issuing Bank and the other Credit Parties. “Facility Guarantors” means the Parent and each of its Subsidiaries, now existing or hereafter created, other than (i) Foreign Subsidiaries and (ii) the Borrower. “Facility Guarantors Collateral Documents” means all security agreements, mortgages, pledge agreements, deeds of trust, and other instruments, documents or agreements executed and delivered by any Facility Guarantor to secure the Obligations. “FATCA” means Sections 1471 through 1474 of the Code, as of the Fourth Fifth Amendment Effective Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), and (a) any current or future regulations or official interpretations thereof, (b) any agreements entered into pursuant to Section 1471(b)(1) of the Code, and (c) any intergovernmental agreement entered into by the United States (or any fiscal or regulatory legislation, rules, or practices adopted pursuant to any such intergovernmental agreement entered into in connection therewith). “FCPA” means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder. “Federal Funds Effective Rate” means, for any period, a fluctuating interest rate per annum equal to, for each day during such period, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it (and, if any such rate is below zero, then the rate determined pursuant to this definition shall be deemed to be zero). “Federal Reserve Bank of New York’s Website” means the website of the Federal Reserve Bank of New York at xxxx://xxx.xxxxxxxxxx.xxx, or any successor so...