Merchant Receivables definition

Merchant Receivables means all accounts (as such term is defined in the UCC), payment intangibles (as such term is defined in the UCC) and other amounts owed to the Borrower by the Merchants pursuant to the Merchant Agreements.
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Merchant Receivables means all payments made by cash, check, electronic transfer or other form of monetary payment from Marketplace to Merchant in the ordinary course of Merchant’s business for goods or services provided by Merchant to Marketplace customers
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Merchant Receivables means all accounts (as such term is defined in the UCC), payment intangibles (as such term is defined in the UCC) and other amounts owed to the Borrower by the Merchants arising from or created pursuant to the Merchant Agreements. “Person” shall mean any individual, corporation, company, voluntary association, partnership, joint venture, trust, unincorporated organization or government or any agency, instrumentality or political subdivision thereof, or any other form of entity. “Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible, including, without limitation, cash, securities, accounts and contract rights. “Release” shall have the same meaning as is assigned to such term in Section 3.01. “Secured Parties” shall mean collectively the Sponsor and each of the Bank Group Secured Parties. “Security Documents” shall mean the Sponsor Agreement and the Bank Group Security Documents. “Sponsor” shall mean Xxxxx Fargo Bank, National Association. “Sponsor Agreement” shall have the same meaning as is assigned to such term in the preliminary statement of this Agreement. “Sponsor Facility Obligations” means all principal of and interest on all loans made pursuant to the Sponsor Agreement and all costs, charges, fees, expenses and other amounts 4 payable from time to time pursuant to the Sponsor Loan Documents; provided, however, that in no event shall any principal amount that is in excess of the Maximum Sponsor Facility Indebtedness Amount be deemed to be or constitute all or any portion of the Sponsor Facility Obligations for purposes of this Agreement. “Sponsor Facility Obligations” shall include all interest accrued or accruing in accordance with the rate specified in the Sponsor Agreement but shall exclude (solely for purposes of this Agreement) such interest accrued or accruing with respect to principal amounts in excess of the Maximum Sponsor Facility Indebtedness Amount. “Sponsor Facility Obligations” shall include any interest which accrues on the principal amount of the Sponsor Facility Obligations subsequent to commencement of an Insolvency Proceeding to the extent such interest is an allowed claim under applicable law. To the extent any payment with respect to any Sponsor Facility Obligation is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, trustee, any Bank Group Secured Party, receiver or similar Person,...
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Examples of Merchant Receivables in a sentence

  • Further, the Merchant is obliged to support PayPal in its collection efforts of the Merchant Receivables by providing necessary proof of delivery or other documents supporting the existence, value and validity of the Merchant Receivables as the case may be.

  • Under the condition precedent of a PayPal Withdrawal for a specific Merchant Receivable, PayPal hereby assigns all such current and future Merchant Receivables (unless extinguished by operation of law) to the Merchant, and the Merchant hereby accepts this assignment.

  • This Agreement shall remain in force with respect to Merchant Receivables for which the Merchant has received a Payment Acceptance prior to termination of this Agreement.

  • If the termination is triggered by a violation of representations or warranties as stipulated in section 7, this Agreement shall only remain in force with respect to Merchant Receivables that have come into existence and for which the applicable conditions precedent for the assignment pursuant to section 4 have been fulfilled prior to the termination of this Agreement.

  • The Merchant shall act on PayPal’s instructions to take such action as is necessary to preserve or enforce PayPal’s and Ratepay’s rights in the Merchant Receivables.

  • Upon the effective date of the termination of this Agreement, the Merchant shall no longer sell to PayPal and PayPal shall no longer purchase from the Merchant any Merchant Receivables.

  • For Merchant Receivables PayPal shall credit the Merchant an amount ("Purchase Price") as set out below: • The Nominal Amount payable by the Customer minus • Fees payable by Merchant according to the Fees Page; PayPal shall not apply a fee for the assignment of Merchant Receivables itself.

  • Upon the Discharge of Sponsor Facility Obligations, the Sponsor shall deliver to the Bank Group Administrative Agent any remaining Merchant Receivables and any proceeds thereof then held by it in the same form as received, together with any necessary endorsements, or as a court of competent jurisdiction may otherwise direct.

  • The Merchant shall pay Value Added Tax (VAT) to the competent Tax Authority on Merchant Receivables.

  • After the Termination Date, so long as the Discharge of Sponsor Facility Obligations has not occurred, any proceeds of Merchant Receivables received by the Bank Group Administrative Agent shall be segregated and held in trust and forthwith transferred or paid over to the Sponsor in the same form as received, together with any necessary endorsements, for application by the Sponsor to the permanent reduction of the Sponsor Facility Obligations.

Related to Merchant Receivables

  • Receivables means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

  • Subject Receivables has the meaning assigned to such term in the Asset Representations Review Agreement.

  • Purchased Receivables means all those accounts, receivables, chattel paper, instruments, contract rights, documents, general intangibles, letters of credit, drafts, bankers acceptances, and rights to payment, and all proceeds thereof (all of the foregoing being referred to as "receivables"), arising out of the invoices and other agreements identified on or delivered with any Invoice Transmittal delivered by Seller to Buyer which Buyer elects to purchase and for which Buyer makes an Advance.

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

  • Review Receivables means those Delinquent Receivables that have been Delinquent Receivables for 60 days or more as of the last day of the preceding Collection Period identified by the Servicer as requiring an Asset Representations Review by the Asset Representations Reviewer following receipt of an Asset Representations Review Notice according to Section 3.01.

  • Transferred Receivables means any Receivables that have been sold, contributed or otherwise transferred to an Eligible Transferee in connection with a Permitted Supply Chain Financing that is permitted under the Credit Agreement.

  • Eligible Accounts Receivable means, at any time, the invoice value of Canadian Dollar and U.S. Dollar Accounts Receivable (net of all goods and services Taxes, harmonized sales Taxes and other sales Taxes and net of any credit balance, returns, trade discounts, unapplied cash, unbilled amount or retention or finance charges) owing to the Restricted Parties (or any of them) arising under any sales of Inventory from the operation of the business of the Restricted Parties made by the Restricted Parties to any Person in the ordinary course of business, which invoice value shall be periodically reported to the Lender in the form of Schedule “B” to be delivered (i) at the time of each Drawdown during the Covenant Holiday Period, if at the time of such Drawdown there is no principal amount outstanding under any Prime Rate Loans, Base Rate Loans, CDOR Loans, and there are no outstanding Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender), and (ii) within fifteen days after the end of each calendar month during the Covenant Holiday Period, if during such month any Prime Rate Loans, Base Rate Loans, CDOR Loans, Bankers’ Acceptances or Letters of Credit (other than Letters of Credit issued under the Credit Facility that are fully secured with cash collateral provided by a Restricted Party to the Lender) are outstanding; provided that no Account Receivable shall be deemed an Eligible Account Receivable unless each of the following statements is accurate and complete (and by including such Account Receivable in any calculation of the Borrowing Base, the Borrower shall be deemed to represent and warrant to the Lender the accuracy and completeness of such statements):

  • Excluded Receivables means, as of any date of determination, all accounts receivable referred to in Item 1 of Schedule 7.01.

  • Eligible Receivables means Receivables arising in the ordinary course of -------------------- Borrower's business from the sale of goods or rendition of services, which Silicon, in its sole judgment, shall deem eligible for borrowing, based on such considerations as Silicon may from time to time deem appropriate. Without limiting the fact that the determination of which Receivables are eligible for borrowing is a matter of Silicon's discretion, the following (the "Minimum ------- Eligibility Requirements") are the minimum requirements for a Receivable to be ------------------------ an Eligible Receivable: (i) the Receivable must not be outstanding for more than 90 days from its invoice date, (ii) the Receivable must not represent progress xxxxxxxx, or be due under a fulfillment or requirements contract with the Account Debtor, (iii) the Receivable must not be subject to any contingencies (including Receivables arising from sales on consignment, guaranteed sale or other terms pursuant to which payment by the Account Debtor may be conditional), (iv) the Receivable must not be owing from an Account Debtor with whom the Borrower has any dispute (whether or not relating to the particular Receivable), (v) the Receivable must not be owing from an Affiliate of Borrower, (vi) the Receivable must not be owing from an Account Debtor which is subject to any insolvency or bankruptcy proceeding, or whose financial condition is not acceptable to Silicon, or which, fails or goes out of a material portion of its business, (vii) the Receivable must not be owing from the United States or any department, agency or instrumentality thereof (unless there has been compliance, to Silicon's satisfaction, with the United States Assignment of Claims Act), (viii) the Receivable must not be owing from an Account Debtor located outside the United States or Canada (unless pre-approved by Silicon in its discretion in writing, or backed by a letter of credit satisfactory to Silicon, or FCIA insured satisfactory to Silicon), (ix) the Receivable must not be owing from an Account Debtor to whom Borrower is or may be liable for goods purchased from such Account Debtor or otherwise. Receivables owing from one Account Debtor will not be deemed Eligible Receivables to the extent they exceed 25% of the total Receivables outstanding. In addition, if more than 50% of the Receivables owing from an Account Debtor are outstanding more than 90 days from their invoice date (without regard to unapplied credits) or are otherwise not eligible Receivables, then all Receivables owing from that Account Debtor will be deemed ineligible for borrowing. Silicon may, from time to time, in its discretion, revise the Minimum Eligibility Requirements, upon written notice to the Borrower.

  • Eligible Account Receivable means an Account Receivable owing to the Company or any Domestic Subsidiary which meets the following requirements:

  • Accounts Receivable means in respect of any Person, (a) all trade accounts and notes receivable and other rights to payment from customers and all security for such accounts or rights to payment, including all trade accounts receivable representing amounts receivable in respect of goods shipped or products sold or otherwise disposed of or services rendered to customers, (b) all other accounts and notes receivable and all security for such accounts or notes, and (c) any claim, remedy or other right relating to any of the foregoing.

  • Account Receivable means, with respect to any Person, any and all rights of such Person to payment for goods sold and/or services rendered, including accounts, general intangibles and any and all such rights evidenced by chattel paper, instruments or documents, whether due or to become due and whether or not earned by performance, and whether now or hereafter acquired or arising in the future, and any proceeds arising therefrom or relating thereto.

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Subsequent Receivables means the Receivables transferred to the Issuer pursuant to Section 2.2, which shall be listed on Schedule A to the related Subsequent Transfer Agreement.

  • Transferred Receivable means a Purchased Receivable or a Contributed Receivable.

  • Amounts receivable by the Trust in a foreign currency shall be reported to the Evaluator who shall convert the same to U.S. dollars based on current exchange rates, in the same manner as provided in Section 4.01(b) or 4.01(c), as applicable, for the conversion of the valuation of foreign Equity Securities, and the Evaluator shall report such conversion with each Evaluation made pursuant to Section 4.01."

  • Initial Receivables means the Receivables transferred to the Trust on the Closing Date as set forth on the Schedule of Receivables attached to the Initial SSA Assignment.

  • Purchased Receivable means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

  • Net Receivables Pool Balance means, at any time: (a) the Outstanding Balance of Eligible Receivables then in the Receivables Pool minus (b) the Excess Concentration.

  • Principal Receivables means all Receivables other than Finance Charge Receivables.

  • Review Receivable has the meaning designated in Section 1.02 of the Asset Representations Review Agreement.

  • Mortgage Receivable means a promissory note secured by a Mortgage of which the Borrower or a Subsidiary is the holder and retains the rights of collection of all payments thereunder.

  • Receivables Pool means, at any time, all of the then outstanding Receivables purchased by the Seller pursuant to the Sale Agreement prior to the Facility Termination Date.

  • Settlement Receivable means any general intangible, payment intangible, or instrument representing or reflecting an obligation to make payments to or for the benefit of a Person in consideration for a Settlement made or arranged, or to be made or arranged, by such Person.

  • Current Receivable means each Receivable that is not a Defaulted Receivable or a Liquidated Receivable.

  • Eligible Trade Receivables means Accounts arising from the sale of the Loan Parties’ Inventory (other than those consisting of Credit Card Receivables) that satisfies the following criteria at the time of creation and continues to meet the same at the time of such determination: such Account (i) has been earned by performance and represents the bona fide amounts due to a Loan Party from an account debtor, and in each case originated in the ordinary course of business of such Loan Party, and (ii) in each case is acceptable to the Administrative Agent in its discretion, and is not ineligible for inclusion in the calculation of the Borrowing Base pursuant to any of clauses (a) through (t) below. Without limiting the foregoing, to qualify as an Eligible Trade Receivable, an Account shall indicate no Person other than a Loan Party as payee or remittance party. In determining the amount to be so included, the face amount of an Account shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges or other allowances (including any amount that a Loan Party may be obligated to rebate to a customer pursuant to the terms of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account but not yet applied by the Loan Parties to reduce the amount of such Eligible Trade Receivable. Any Accounts meeting the foregoing criteria shall be deemed Eligible Trade Receivables but only as long as such Account is not included within any of the following categories, in which case such Account shall not constitute an Eligible Trade Receivable: