Factoring Facility means the credit facility evidenced by the Factoring Facility Documents.
Factoring Facility. (a) the Closing Date Factoring Facility and (b) any other agreement between the Parent Borrower and/or a Restricted Subsidiary and a bank, financial institution or other third party, pursuant to which (i) the Parent Borrower or such Restricted Subsidiary, as applicable, agrees to sell accounts receivable, together with Receivables Assets related thereto, at a maximum aggregate discount off the aggregate face value of such accounts receivable that is consistent with customary market terms as determined in good faith by the Parent Borrower and (ii) the obligations of the Parent Borrower and/or the Restricted Subsidiaries party thereto thereunder are non-recourse (except for Receivables Repurchase Obligations) to the Parent Borrower and/or such Restricted Subsidiaries, it being agreed and understood that (w) the Parent Borrower and any Domestic Subsidiaries party thereto may be jointly and severally liable for all Receivables Facility Undertakings and Receivables Repurchase Obligations of the Parent Borrower and/or any Restricted Subsidiary party thereto, (x) each Canadian Subsidiary party thereto may be jointly and severally liable for all Receivables Facility Undertakings and Receivables Repurchase Obligations of any other Canadian Subsidiary party thereto, (y) such accounts receivables and Receivables Assets thereto have been removed from the applicable Borrowing Base and (z) the Loan Parties shall not participate in more than five (5) such Factoring Facilities (including, for the avoidance of doubt, the Closing Date Factoring Facility) and Receivables Facilities in the aggregate at any time (with each account debtor (or group of affiliated account debtors) counting as a distinct Factoring Facility or Receivables Facility for purposes of such limitation).
Factoring Facility means the invoice discounting and factoring credit facility heretofore provided to MMI Automotive Ltd. by the Factor.
Examples of Factoring Facility in a sentence
Off-balance sheet arrangements Swedish Factoring Facility: The company has an arrangement to sell trade receivables due from AB Volvo through one of its European subsidiaries.
NOTE: Non-volitional or wrap client “block trades” made by wrap portfolio managers in accordance with Fox existing model portfolios are excluded from rules 2a), 2b) and 2c), above for designated managers of wrap accounts.
U.S. Factoring Facility: The company has an arrangement to sell trade receivables due from AB Volvo and its U.S. subsidiaries through one of its U.S. subsidiaries.
United Kingdom Factoring Facility: The company has an arrangement to sell trade receivables from AB Volvo and its European subsidiaries through one of its United Kingdom subsidiaries.
United Kingdom Factoring Facility: The company has an arrangement to sell trade receivables due from AB Volvo and its European subsidiaries through one of its United Kingdom subsidiaries.
More Definitions of Factoring Facility
Factoring Facility a debt purchase facility provided on the terms of the Agreement; “Fees and Charges” all those fees and charges to which we are entitled for providing any Facility (and any VAT thereon); "Guaranteed Company" Cimcool Industrial Products B.V., D-M-E Europe CVBA and Ferromatik Milacron Machinenbau GmbH;
Factoring Facility means those certain arrangements pursuant to (a) that certain Second Amended and Restated Collection Date Factoring Agreement, dated September 30, 2001, between the CIT Group/Commercial Services, Inc. and A and G, Inc. (b) that certain Assignment of Monies Due Under Factoring Agreement dated September 30, 2001 between Suntrust Bank and A and G, Inc.; and (c) and that certain Factoring Agreement dated November 27, 2001 between UPS Capital Global Trade Finance Corporation and A and G, Inc. Federal Funds Rate means, for any day, a fluctuating interest rate equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding 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 the Administrative Agent. The Administrative Agent’s determination of such rate shall be binding and conclusive absent manifest error.
Factoring Facility a Facility provided on the terms of this Agreement where the applicable Operating Conditions include Parts I, II and IV. “Faster Payment” same day transmission of cleared funds as arranged by the payer with their bankers and accepted by the payee’s bankers “Fees and Charges” all those fees and charges to which we are entitled for providing any Facility (and any VAT thereon).
Factoring Facility a debt purchase facility provided on the terms of the Agreement; “Fees and Charges” all those fees and charges to which we are entitled for providing any Facility or for opening or managing a bank account (and any VAT thereon);
Factoring Facility has the meaning ascribed thereto in Section 2.1
Factoring Facility means a factoring facility with PrimeRevenue pursuant to which the Company may sell and Bank of America, N.A. may purchase Accounts owed by Kohl’s.
Factoring Facility means any factoring facility of any Co-Borrower which has terms, covenants, pricing and other terms which have been approved in writing by the Required Lenders (such approval not to be unreasonably withheld or delayed).