Permitted Accounts Receivable Securitization means (a) any Domestic Receivables Securitization and (b) any Foreign Receivables Securitization, in each case, together with any amendments, restatements or other modifications or refinancings permitted by this Agreement.
Permitted Accounts Receivable Securitization means any receivables financing program providing for the sale, conveyance or contribution to capital of Receivables Facility Assets or interests therein by Company and its Participating Subsidiaries to a Receivables Subsidiary in transactions purporting to be sales, which Receivables Subsidiary shall finance the purchase of such Receivables Facility Assets by the direct or indirect sale, transfer, conveyance, lien, grant of participation or other interest or pledge of such Receivables Facility Assets or interests therein to one or more limited purpose financing companies, special purpose entities, trusts and/or financial institutions, in each case, on a limited recourse basis as to Company and the Participating Subsidiaries (except to the extent a limitation on recourse is not customary for similar transactions or is prohibited in the relevant jurisdiction); provided that any such transaction shall be consummated pursuant to documentation necessary or customary for such transactions in the relevant jurisdiction (or otherwise reasonably satisfactory to Administrative Agent as evidenced by its written approval thereof).
Permitted Accounts Receivable Securitization means any receivables financing program providing for the sale, conveyance or contribution to capital of Receivables Facility Assets or interests therein by Company and its Participating Subsidiaries to a Receivables Subsidiary in transactions purporting to be sales (and treated as sales for GAAP purposes), which Receivables Subsidiary shall finance the purchase of such Receivables Facility Assets by the direct (or, to the extent approved by Administrative Agent as evidenced by its written approval thereof, indirect) sale, transfer, conveyance, lien, grant of participation or other interest or pledge of such Receivables Facility Assets or interests therein to one or more limited purpose financing companies, special purpose entities, trusts and/or financial institutions, in each case, on a limited recourse basis as to Company and the Participating Subsidiaries (except to the extent a limitation on recourse is not customary for similar transactions or is prohibited in the relevant jurisdiction); provided that any such transaction shall be consummated pursuant to documentation necessary or customary for such transactions in the relevant jurisdiction (or otherwise reasonably satisfactory to Administrative Agent as evidenced by its written approval thereof) and shall provide for purchase price percentages reasonably satisfactory to Administrative Agent.
Examples of Permitted Accounts Receivable Securitization in a sentence
No Unrestricted Subsidiary may be a Participating Subsidiary in a Permitted Accounts Receivable Securitization.
Section 2.07(f) of the Credit --- ---------------------------------------- --------------- Agreement is hereby amended by adding the following new language at the end of the first parenthetical thereof "including Asset Dispositions relating to the Permitted Accounts Receivable Securitization permitted thereby and other than the net proceeds, if any, under $5 million of the Asset Disposition permitted by the first proviso to Section 8.05(b)(iii)".
Any event (after the expiration of any applicable grace periods) as specified in the Receivables Documents shall entitle the Persons (other than a Receivables Subsidiary) financing accounts receivable pursuant to a Permitted Accounts Receivable Securitization to terminate or permanently cease funding the financing of accounts receivable pursuant to a Permitted Accounts Receivable Securitization.
Any event (after the expiration of any applicable grace periods) as specified in the Receivables Documents for any Permitted Accounts Receivable Securitization shall entitle the Persons (other than a Receivable Subsidiary) financing Accounts Receivables pursuant to a Permitted Accounts Receivable Securitization to terminate or permanently cease funding the financing of Accounts Receivable pursuant to such Permitted Accounts Receivable Securitization.
Any event (after the expiration of any -------------------- applicable grace periods) as specified in the Receivables Documents for any Permitted Accounts Receivable Securitization shall entitle the Persons (other than a Receivable Subsidiary) financing Accounts Receivables pursuant to a Permitted Accounts Receivable Securitization to terminate or permanently cease funding the financing of Accounts Receivable pursuant to such Permitted Accounts Receivable Securitization.
More Definitions of Permitted Accounts Receivable Securitization
Permitted Accounts Receivable Securitization means one or more receivables financing programs providing for (i) the sale or contribution of Accounts Receivable by the Company or its Subsidiaries to a Receivables Subsidiary in a transaction or series of transactions purporting to be sales (and treated as sales for GAAP purposes), and (ii) the sale, transfer, conveyance, lien or pledge of, or granting a security interest in, such Accounts Receivables by such Receivables Subsidiary to any other Person, in each case, without recourse for credit defaults to the Company and its Subsidiaries (other than the Receivables Subsidiaries); provided that the aggregate principal amount of such financings shall not at any time exceed $100,000,000.
Permitted Accounts Receivable Securitization means one or more receivables financing programs providing for (i) the sale or contribution of Accounts Receivable by the Borrower or its Subsidiaries to a Receivables Subsidiary in a transaction or series of transactions purporting to be sales (and treated as sales for GAAP purposes), and (ii) the sale, transfer, conveyance, lien or pledge of, or granting a security interest in, such Accounts Receivables by such Receivables Subsidiary to any other Person, in each case, without recourse for credit defaults to the Borrower and its Subsidiaries (other than the Receivables Subsidiaries).
Permitted Accounts Receivable Securitization means the receivables financing program providing for the sale of Receivables Facility Assets by Borrower and its Subsidiaries to the Receivables Subsidiary in transactions purporting to be sales (and treated as sales for GAAP purposes), which Receivables Subsidiary shall finance the purchase of such Receivables Facility Assets by the sale, transfer, conveyance, lien or pledge of such Receivables Facility Assets to one or more limited purpose financing companies, special purpose entities and/or other financial institutions, in each case, on a limited recourse basis as to the Borrower and its Subsidiaries; provided that any such transaction described herein shall be consummated pursuant to documentation in form and substance reasonably satisfactory to the Agent.
Permitted Accounts Receivable Securitization means one or more -------------------------------------------- receivables financing programs providing for (i) the sale or contribution of Accounts Receivable by the Borrower or its Subsidiaries to a Receivables Subsidiary in a transaction or series of transactions purporting to be sales (and treated as sales for GAAP purposes), and (ii) the sale, transfer, conveyance, lien or pledge of, or granting a security interest in, such Accounts Receivables by such Receivables Subsidiary to any other Person, in each case, without recourse to the Borrower and its Subsidiaries (other than the Receivables Subsidiaries).
Permitted Accounts Receivable Securitization means (a) any Domestic Receivables Securitization and (b) any Foreign Receivables Securitization, in each case, together with any amendments, restatements or other modifications or refinancings permitted by this Agreement; Permitted Investors means (a) All Life Foundation, Xxxxxxx Family Trust, Xxxxxxx X. Xxxxxxx Trust, Xxxxxxx X. Xxxxxxx, Xxxxx X. Xxxxxxx Charitable Lead Annuity Trust, Nob Hill Trust, Xxxxx Xxxxx Xxxxxxx Trust, Xxxxxxxx X. Xxxxxxx, Xxxxxxxx X. Xxxxxxx Living Trust, Xxxxxx X. Xxxx, Xxxxxx X. Xxxx Living Trust, Xxxx X. XxXxxxx, Xxxx X. XxXxxxx Living Trust, Xxxx X. XxXxxxx Charitable Remainder Annuity Trust, Xxxx XxXxxxxx, Xxxxxxxx X. Xxxxx and Xxxxxxxx X. Xxxxx Living Trust; (b) the spouses, heirs, legatees, descendants and blood relatives to the third degree of consanguinity of any person in clause (a) and any adopted children and blood relative thereof; (c) the executors and administrators of the estate of any such person, and any court appointed guardian of any person in clause (a) or (b); (d) any trust, family partnership or similar investment entity for the benefit of any such person referred to in the foregoing clause (a) or (b) or any other Persons (including for charitable purposes), so long as one or more members of the group consisting of the Permitted Investors have the exclusive or a joint right to control the voting and disposition of securities held by such trust, family partnership or other investment entity; and (e) any employee or retiree benefit plan sponsored by Xxxxx, Inc.;
Permitted Accounts Receivable Securitization means (i) the receivables financing program evidenced by the European Receivables Purchase Documents and the receivables financing program evidenced by the Domestic Receivables Purchase Documents, in each case, together with any amendments, restatements or other modifications or refinancings permitted by this Agreement, provided that, the recourse obligations of Company or any of its Subsidiaries (other than a Receivables Subsidiary) are not increased in any material respect and such documentation is otherwise on market terms and conditions after giving effect to such amendment or other modification and (ii) any other receivables financing program providing for the sale or transfer of Receivables Facility Assets by Company or its Participating Subsidiaries to a Receivables Subsidiary in transactions purporting to be sales (and treated as sales for GAAP purposes), in each case, without any guarantee by Company or any of its Subsidiaries (other than a Receivables Subsidiary) and otherwise on market terms and conditions.
Permitted Accounts Receivable Securitization means any receivables -------------------------------------------- financing program providing for the sale of Receivables Facility Assets by the Borrower and its Participating Subsidiaries to the Receivables Subsidiary in transactions purporting to be sales (and treated as sales for GAAP purposes), which Receivables Subsidiary shall finance the purchase of such Receivables Facility Assets by the sale, transfer, conveyance, lien or pledge of such Receivables Facility Assets to one or more limited purpose financing companies, special purpose entities and/or other financial institutions, in each case, on a limited recourse basis as to the Borrower and the Participating Subsidiaries; provided that any such transaction -------- shall be consummated pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent, as evidenced by its written approval thereof.