Permitted Factoring Agreement means, collectively, the sale of Accounts in the Ordinary Course of Business by (a) Pride pursuant to that certain Supplier Agreement, dated as of March 11, 2019 (as may be amended from time to time, the “Citibank SCF Agreement”), by and between Pride and Citibank, N.A., so long as the Accounts sold pursuant thereto are owed to Pride by (i) Schlumberger Technology Corporation or an Affiliate thereof or (ii) any other Person approved in writing by Agent and the Required Lenders, (b) Pride pursuant to that certain Receivables Purchase Agreement, dated as of February 2, 2020 (as may be amended from time to time, the “MUFG SCF Agreement”), by and between Pride and MUFG Union Bank, N.A., so long as the Accounts sold pursuant thereto are owed to Pride by (i) Xxxxx Xxxxxx, LLC and its Affiliates or (ii) any other Person approved in writing by Agent and the Required Lenders and (c) any other Borrower approved in writing by the Agent in its Permitted Discretion; provided that the Net Disposition Proceeds of all Accounts sold pursuant to a Permitted Factoring Agreement are deposited in a Depository Account established at Agent for the proceeds of Collateral.
Permitted Factoring Agreement means the Factoring Agreement, dated as of the Second Amendment Effective Date, among Corsair Memory and the Permitted Factor, as from time to time amended or otherwise modified with the consent of the Administrative Agent.
Permitted Factoring Agreement means an agreement entered into after the Effective Date, in form and substance satisfactory to the Administrative Agent in its Permitted Discretion, pursuant to which a Loan Party sells Permitted Factoring Accounts to a Permitted Factoring Provider.
Examples of Permitted Factoring Agreement in a sentence
Compromise or discount any Account except for: (i) ordinary trade discounts or allowances for prompt payment and other discounts and compromises made in the ordinary course of business, and (ii) the sale of Accounts which are not Designated Accounts in accordance with the Permitted Factoring Agreement.
Discontinue its business or liquidate, sell, transfer, assign or otherwise dispose of a material part of its assets or of the Collateral, by sale, merger, consolidation or otherwise, provided, however, that it may: (i) sell Inventory in the ordinary course of business, and (ii) continue to sell Accounts which are not Designated Accounts in accordance with the Permitted Factoring Agreement.
More Definitions of Permitted Factoring Agreement
Permitted Factoring Agreement. Any agreement for the sale by the Borrower or any of its Subsidiaries without recourse to the Borrower or any of its Subsidiaries of accounts of the Borrower or any of its Subsidiaries, provided that (a) the aggregate face amount of all such accounts so sold during any four (4) consecutive quarterly accounting periods of the Borrower beginning on or after the date of this Agreement does not exceed $250,000, and (b) no Default or Event of Default shall have occurred and be continuing at the time of any such agreement or sale.
Permitted Factoring Agreement means any agreement pursuant to which a Foreign Subsidiary shall sell, transfer and assign its rights, title and interests in certain accounts receivable in connection with a securitization thereof to a factoring company for fair market value and otherwise on market terms, a copy of which has been provided to the Administrative Agent.
Permitted Factoring Agreement means the agreements in existence on the Effective Date and listed on Schedule 1.1 (as such agreements may be extended or replaced from time to time with the same counterparty) and any other agreement pursuant to which a Foreign Subsidiary shall sell, transfer and assign its rights, title and interests in certain accounts receivable to a non-Affiliate in connection with a securitization thereof to a factoring company for fair market value and otherwise on market terms, a copy of which has been provided to the Administrative Agent.
Permitted Factoring Agreement means the Factoring Agreement, dated as of January 26, 1995, among the First Identified Target and Trust Company Bank, as the same may be amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.
Permitted Factoring Agreement means any non-recourse receivables factoring agreement entered into by the Borrower on terms and conditions satisfactory to the Lender in its sole discretion.
Permitted Factoring Agreement means that certain Collection Factoring Agreement among Merchant Factors Corp. and Alliance Apparel Group, Inc., undated, together with other documents related thererto, copies of each of which have been provided to the Administrative Agent on or prior to the Closing Date, and any modifications or replacements thereof which are approved in writing by the Administrative Agent.
Permitted Factoring Agreement means the Factoring Agreement dated January 25, 1996, as amended, between Borrower and Merchant Factors Corp.