Permitted Asset Financing Transaction means any transaction entered into by an Excluded Subsidiary to monetize or otherwise finance Permitted Assets and evidenced by credit agreements, loan agreements, indentures, purchase agreements, leases, sales agreements, factoring agreements and other similar agreements or limited liability company agreements or similar agreements pursuant to which Permitted Assets are monetized or financed (including through the issuance of equity interests) or are sold (in each case, whether now existing or arising in the future), and, in each case, which may include a grant of a security interest in any such Permitted Assets (whether now existing or arising in the future), including all collateral securing such Permitted Assets, all contracts and all guarantees or other obligations in respect thereof, proceeds thereof and other assets that are customarily transferred, or in respect of which security interests are customarily granted, in connection with such monetizations or financings. A Permitted Asset Financing Transaction must be non-recourse to the Loan Parties (other than in respect of Limited Recourse Obligations).
Permitted Asset Financing Transaction means any (1) transaction or series of transactions entered into in order to monetize or otherwise finance Financing Assets or (2) other transactions evidenced by credit agreements, purchase agreements, sales agreements, factoring agreements and other similar agreements pursuant to which Financing Assets are financed or are sold (in each case, whether now existing or arising in the future), and, in each case, which may include a grant of a security interest in any such Financing Assets (whether now existing or arising in the future), including all collateral securing such Financing Assets, all contracts and all guarantees or other obligations in respect thereof, proceeds thereof and other assets that are customarily transferred, or in respect of which security interests are customarily granted, in connection with financings, asset securitization transactions or factoring transactions of Financing Assets or other transactions evidenced by credit agreements, purchase agreements, sales agreement, factoring agreements and other similar agreements pursuant to which Financing Assets are financed or sold. A Permitted Asset Financing Transaction must either (a) be non-recourse to the Company’s Domestic Restricted Subsidiaries (other than a Guarantor) (other than for limited recourse provisions in respect of the applicable Financing Assets or that otherwise are customary in transactions in which the primary recourse is to Financing Assets) or (b) provide for discount and/or advance rates, as applicable, that, taken together, for any transaction or series of related transactions are consistent with customary industry practices or that are not materially more favorable to the Company and its Domestic Restricted Subsidiaries, as applicable, than those that are consistent with non-recourse financing arrangements (other than for limited recourse provisions in respect of the applicable Financing Assets or that otherwise are customary in transactions in which the primary recourse is to Financing Assets) in view of the quality of the underlying Financing Assets.
Permitted Asset Financing Transaction means any transaction entered into by an Excluded Subsidiary to monetize or otherwise finance Permitted Assets and evidenced by credit agreements, loan agreements, indentures, purchase agreements, leases, sales agreements, factoring agreements and other similar agreements or limited liability company agreements or similar agreements pursuant to which Permitted Assets are monetized or financed (including through the issuance of equity interests) or are sold (in each case, whether now existing or arising in the future), and, in each case, which may include a grant of a security interest in any such Permitted Assets (whether now existing or arising in the future), including all collateral securing such Permitted Assets, all contracts and all guarantees or other obligations in respect thereof, [***] = Certain information contained in this document, marked by brackets, has been omitted because it is both not material and would be competitively harmful if publicly disclosed. proceeds thereof and other assets that are customarily transferred, or in respect of which security interests are customarily granted, in connection with such monetizations or financings. A Permitted Asset Financing Transaction must be non-recourse to the Loan Parties (other than in respect of Limited Recourse Obligations).
Examples of Permitted Asset Financing Transaction in a sentence
During the Availability Period, as soon as reasonably practicable upon the request of the Administrative Agent or the Collateral Agent, a copy of the operative documents of any new Permitted Asset Financing Transaction relating to Projects that is to be included in Available Take-Out.
During the Availability Period, as soon as reasonably practicable upon the request of the Administrative Agent or the Collateral Agent, a copy of the operative documents of any Permitted Asset Financing Transaction relating to Projects that is to be included in Available Take-Out.
More Definitions of Permitted Asset Financing Transaction
Permitted Asset Financing Transaction means any transaction entered into by an Excluded Subsidiary to monetize or otherwise finance Permitted Assets and evidenced by credit agreements, loan agreements, indentures, purchase agreements, leases, sales agreements, factoring agreements and other similar agreements or limited liability company agreements or similar agreements pursuant to which Permitted Assets are monetized or financed (including through the
Permitted Asset Financing Transaction means a securitization transaction, bulk lease financing transaction or a purchase and sale transaction with a financing purpose (and other similar financing transactions) pursuant to which specified Financing Instrument Receivables are assigned or pledged by a Subsidiary to a third party in exchange for fair market value consideration provided that the obligations of such Subsidiary to such third party under such transaction are limited in recourse to such specified Financing Instrument Receivables, any related security provided by the related Account Debtor and the proceeds thereof and any cash reserve accounts funded out of amounts that would otherwise have been paid or advanced to such Subsidiary on account of such Financing Instrument Receivables. For greater certainty, “Permitted Asset Financing Transaction” shall include, without limitation, the transactions contemplated by the terms of (i) a bulk lease facility agreement dated as of July 31, 2012, between Northstar, The Equitable Life Insurance Company of Canada, Stonebridge Financial Corporation and the other lenders party thereto from time to time, as amended, and recourse to the assets of Northstar described therein, (ii) an amended and restated master leasing agreement dated as of September 30, 2014 (as amended from time to time) between MOVE Trust, as lessee and Blue Chip, as lessor, and recourse to the assets of Blue Chip described therein (iii) a master purchase and servicing agreement dated as of September 30, 2011 (as amended from time to time) between Blue Chip, as seller, Pacific & Western Bank of Canada, as purchaser and Stonebridge Financial Corporation, as administrative agent, and recourse to the assets of Blue Chip described therein; (iv) a master purchase and servicing agreement dated as of August 28, 2013 (as amended from time to time) between Blue Chip, as seller, and Sun Life Assurance Company of Canada, as purchaser, and recourse to the assets of Blue Chip described therein; (v) a master purchase and servicing agreement dated as of September 21, 2011 (as amended from time to time) between EcoHome, as seller and Pacific & Western Bank of Canada, as purchaser, and recourse to the assets of EcoHome described therein; (vi) a term sheet dated as of November 10, 2014 (as amended from time to time) between Blue Chip and Sun Life Assurance Company of Canada for originations of EcoHome, and recourse to the assets of Blue Chip and EcoHome described therein; (vii) a master purchase and se...