Permitted Factoring definition

Permitted Factoring means a factoring or similar sale of accounts receivable and related rights and property on a non-recourse basis which is not entered into in connection with or as part of a Permitted Securitization and is not Integrated Service Contract Debt, in each case pursuant to documentation reasonably customary for such transactions.

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Permitted Factoring means factoring, supply chain financing or similar arrangements, provided that such arrangement is entered into on market terms and that the aggregate value of receivables assigned and not settled or fallen due at no time exceeds EUR 6,000,000, which amount may be increased as set out in para- graph (b) of the definition of Permitted Financial Indebtedness."

Permitted Factoring means any accounts receivable discount sales program pursuant to which a Subsidiary of Holdings sells all or a portion of accounts receivable (and related rights) owed to it in one or more transactions to a buyer on a limited or non-recourse basis (and/or grants a security interest in such accounts receivable transferred or purported to be transferred to such buyer) in the ordinary course of business; provided that (a) no such sales may be for less than 70% of the face value of such receivables (and related rights) and (b) any such transactions shall otherwise comply with the requirements of this Agreement relating to Permitted Factoring.

Examples of Permitted Factoring in a sentence

• The Company and its Restricted Subsidiaries shall not permit the aggregate outstanding amount of Receivables Indebtedness and, without duplication, aggregate outstanding amount of any Permitted Factoring in each case to the extent recourse to the Company or any Domestic Restricted Subsidiary, at any one time to exceed the Dollar Equivalent Amount of $100,000,000.

• In the case of any sale, transfer or disposal of any property constituting Collateral in a Permitted Factoring Transaction, the Liens created by any of the Collateral Documents on such property shall be automatically released without need for further action by any person and each Lender hereby authorizes Agent to enter into such Lien releases and intercreditor arrangements in connection with any Permitted Factoring Transaction as it deems reasonably necessary or appropriate.

• The Borrower shall deliver to the Administrative Agent complete and correct copies of any material amendment, restatement, supplement or other modification to or waiver of the Permitted Factoring Arrangements permitted hereunder.

• Create, incur, allow, or suffer any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens or Permitted Factoring, or permit any Collateral not to be subject to the first priority security interest granted herein.

• Own or create directly or indirectly any Material Domestic Subsidiaries other than (i) any Subsidiary which has joined this Agreement as Guarantor on the Closing Date (ii) any SPV created in connection with a Permitted Factoring Transaction and (iii) any Subsidiary formed after the Closing Date which joins this Agreement as a Guarantor by delivering to the Administrative Agent items required by Section 8.8 [Additional Subsidiaries; Further Assurances].

More Definitions of Permitted Factoring

Permitted Factoring means factoring arrangements entered into by the Group in the ordinary course of business up to SEK 5,000,000 during the tenor of the Bonds.

Permitted Factoring is defined in Section 7.1.

Permitted Factoring means any recourse or non-recourse sales or disposals pursuant to factoring, receivables financings, securitisations or similar arrangements on arm’s length terms provided that:

Permitted Factoring means the factoring or sale at a discount (or any such arrangement similar to the foregoing) of accounts receivable of Company or any of its Restricted Subsidiaries on a non-recourse basis in the ordinary course of business.”

Permitted Factoring means the factoring or sale at a discount (or any such arrangement similar to the foregoing) of accounts receivable of

Permitted Factoring means a factoring or similar arrangement:

Permitted Factoring means a factoring arrangement entered into by one or more members of the Restricted Group and which satisfies each of the following conditions: