Foreign Receivables means all obligations of any obligor (whether now existing or hereafter arising) under a contract for sale of goods or services by Foreign Subsidiaries (other than a Canadian Subsidiary), which includes any obligation of such obligor (whether now existing or hereafter arising) to pay interest, finance charges or amounts with respect thereto, and, with respect to any of the foregoing receivables or obligations, (a) all of the interest of Foreign Subsidiaries (other than a Canadian Subsidiary) in the goods (including returned goods) the sale of which gave rise to such receivable or obligation after the passage of title thereto to any obligor, (b) all other Liens and property of Foreign Subsidiaries (other than a Canadian Subsidiary) subject thereto from time to time purporting to secure payment of such receivables or obligations, (c) all guaranties, insurance, letters of credit and other agreements or arrangements of whatever character from time to time supporting or securing payment of any such receivables or obligations, (d) all books and records relating to the foregoing, lockbox accounts containing primarily proceeds of the foregoing, and other similar related assets of Foreign Subsidiaries (other than a Canadian Subsidiary) customarily transferred (or in which security interests are customarily granted) to purchasers in receivables purchase transactions that are treated as sales under GAAP, (e) all rights of Foreign Subsidiaries (other than a Canadian Subsidiary) to refunds on account of value added tax in respect of goods sold to an obligor, any receivable from whom is or becomes a defaulted receivable, and (f) proceeds of or judgments relating to any of the foregoing, any debts represented thereby and all rights of action against any Person in connection therewith.
Foreign Receivables means (a) each account receivable owned by any Foreign Subsidiary or any Foreign Holdco and (b) each account receivable owned by a Loan Party that is owed by a Person that is not organized under any applicable law of the United States, any state of the United States or the District of Columbia, Canada, or any province of Canada.
Foreign Receivables means those Receivables of each Credit Party that would otherwise satisfy all of the applicable criteria for Eligible Receivables but the account debtor of such Receivables is not a resident of the United States of America or Canada.
Examples of Foreign Receivables in a sentence
Each Purchaser authorizes the Administrative Agent to execute such documents and instruments in accordance with this subsection 11.10(b) and with respect to Foreign Receivables and Affiliate Receivables, except for Uncertified Foreign Receivables, to take whatever action is necessary to release any Liens in accordance with the intent of this subsection 11.10(b).
The Borrower has established in its name an account with an account number ending in -0616 (such account, together with any one or more Foreign Receivables Collection Accounts established after the date hereof, individually or collectively as the context requires, the “Collection Account”), which Account is a segregated account maintained at the Account Bank, and shall be subject to an Account Control Agreement reasonably satisfactory to the Collateral Agent.
The amount of Revolving Advances made to Borrowers against (i) Eligible Pre-Approved Foreign Receivables shall not exceed in the aggregate, at any time outstanding, ten percent (10%) of the Formula Amount, and (ii) Eligible Unbilled Receivables shall not exceed in the aggregate, at any time outstanding, seventy percent (70%) of the Formula Amount.
Eligible Foreign Receivables shall not exceed $2,000,000.00 of receivable availability under the Borrowing Base.
The Bank will lend an amount not to exceed 80 percent of Foreign Receivables less than 90 days from invoice.
More Definitions of Foreign Receivables
Foreign Receivables means all obligations of any obligor (whether now existing or hereafter arising) under a contract for sale of goods or services by Foreign Subsidiaries, which includes any obligation of such obligor (whether now existing or hereafter arising) to pay interest, finance charges or amounts with respect thereto, and, with respect to any of the foregoing receivables or obligations, (a) all of the interest of Foreign Subsidiaries in the goods (including returned goods) the sale of which gave rise to such receivable or obligation after the passage of title thereto to any obligor, (b) all other Liens and property subject thereto from time to time purporting to secure payment of such receivables or obligations, (c) all guaranties, insurance, letters of credit and other agreements or arrangements of whatever character from time to time supporting or securing payment of any such receivables or obligations, (d) all books and records relating to the foregoing, lockbox accounts containing primarily proceeds of the foregoing, and other similar related assets customarily transferred (or in which security interests are customarily granted) to purchasers in receivables purchase transactions that are treated as sales under GAAP, (e) all rights of Foreign Subsidiaries to refunds on account of value added tax in respect of goods sold to an obligor, any receivable from whom is or becomes a defaulted receivable, and (f) proceeds of or judgments relating to any of the foregoing, any debts represented thereby and all rights of action against any Person in connection therewith.
Foreign Receivables means Receivables with respect to which the Account Debtor is not created and existing under the laws of the United States or of one of its states and with a principal place of business in the United States.
Foreign Receivables means (a) each account receivable owned by any Subsidiary of the Company that is not organized under the laws of any jurisdiction within the United States of America or Brunswick International Ltd., Marine Power International Limited, Marine Power New Zealand Limited, Life Fitness International Sales Inc., Marine Power International Pty. Ltd., Brunswick Marine in EMEA, Inc. and each other Subsidiary of the Company organized under the laws of any jurisdiction within the United States of America the business of which consists substantially entirely in holding Capital Stock in Subsidiaries of the Company that are not organized under the laws of any jurisdiction within the United States of America and/or conducting operations through foreign branches and (b) each account receivable owned by the Company or any of the Subsidiary of the Company that guarantees the Indebtedness under the ABL Facility that is owed by a Person that is not organized under any applicable law of the United States, any state of the United States or the District of Columbia, Canada, or any province of Canada.
Foreign Receivables means any Receivables that (i) are originated in a jurisdiction other than the United States of America, (ii) the payee thereof is a person that is not domiciled in the United States of America, (iii) which is governed by the law of any jurisdiction other than the United States of America or (iv) are denominated in a currency other than U.S. Dollars.
Foreign Receivables means Receivables of a Foreign Subsidiary.
Foreign Receivables means any sale represented by an Account for which the address of the Account Debtor on the invoice evidencing such Account is located outside the United States.
Foreign Receivables means accounts receivable of any Borrower which are owed by a Foreign Person.