Permitted Factoring Arrangements means the factoring arrangements in effect pursuant to (i) that certain Supplier Agreement, dated as of June 17, 2016, by and between Coriant (USA) Inc. and each and any of Citibank, N.A., its branches and subsidiaries and affiliates, in the form delivered to Agent on July 30, 2019, with respect to the Accounts owed by Verizon Sourcing LLC and (ii) that certain Supplier Agreement, dated as of August 28, 2015, by and between Coriant North America, LLC and each and of Citibank, N.A., its branches and subsidiaries and affiliates, in the form delivered to Agent on July 30, 2019, with respect to the Accounts owed by AT&T Services Inc.
Permitted Factoring Arrangements means the sale of Receivables by a Borrower in the Ordinary Course of Business so long as (a) the Customer is a Person approved in writing by the Agent (such approval not to be unreasonably withheld), (b) such sale is made pursuant to documentation in form and substance reasonably satisfactory to the Agent, (c) Agent shall have received a duly executed tri-party agreement among the applicable Borrowing Agent and the applicable factor, in form and substance reasonably satisfactory to Agent (“Factor Tri-Party Agreement”), and (d) the net cash proceeds from such sale are deposited in an account established with the Agent or in a Blocked Account at a Blocked Account Bank and subject to a deposit account control agreement, in form and substance reasonably satisfactory to Agent. Subject to Section 6.18, the factoring of Receivables owing by ENI Petroleum Co. Inc. pursuant to that certain Receivables Purchase Agreement dated as of January 13, 2022, between PHI Aviation and JPMorgan Chase Bank, N.A. shall be deemed a Permitted Factoring Arrangement.
Permitted Factoring Arrangements means non-recourse sales by Alexion Pharma Italy S.r.l.,
Examples of Permitted Factoring Arrangements in a sentence
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.
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 or the iStar Loan Documents permitted hereunder.
The Administrative 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.
More Definitions of Permitted Factoring Arrangements
Permitted Factoring Arrangements means the sale or other disposition of Receivables by a Borrower so long as (a) the Customer is (i) Schlumberger Technology Corporation or any of its Affiliates, (ii) Xxxxx Xxxxxx Incorporated or any of its Affiliates, or (iii) any other Person approved in writing by the Agent in its Permitted Discretion, (b) such sale is made pursuant to (i) a Supplier Agreement between any Borrower and each and any of Citibank, N.A., its branches and subsidiaries and affiliates or (ii) any other documentation and agreements in form and substance satisfactory to Agent in its Permitted Discretion, and (c) the net cash proceeds received by a Borrower from such sale are deposited in a Blocked Account.
Permitted Factoring Arrangements means non-recourse sales by any Subsidiary of the Administrative Borrower that is not a Loan Party of such Person’s receivables in the ordinary course of business, whether pursuant to a purchase facility or otherwise and not as a financing arrangement, at a discount for such Receivables of not greater than 20%.
Permitted Factoring Arrangements means (a) the Orbian Factoring Arrangement so long as the net cash proceeds from any sale of Receivables thereunder shall be deposited in a Blocked Account and (b) any other sale of Receivables by a Borrower in the Ordinary Course of Business to any Person so long as (i) the Customer is (A) Siemens Gamesa Renewable Energy, S.A., Siemens Gamesa Renewable Energy A/S, and/or any of their Affiliates or (B) any other Person acceptable to the Agent in its Permitted Discretion; provided that, in each case in this clause (i), such sale of the applicable Receivables are subject to a factoring agreement approved in writing by the Agent in its Permitted Discretion (such approval not to be unreasonably withheld or delayed (it being understood that the Agent shall be deemed to have approved such Customer and such factoring agreement within 10 Business Days after a Borrower’s written request therefor if not objected to in wiring by the Agent prior to such time)), (ii) upon Agent’s written request, the applicable Borrower shall use commercially reasonable efforts to deliver a duly-executed tri-party agreement among the applicable Borrower, Agent and the applicable factor, in form and substance satisfactory to Agent in its Permitted Discretion (a “Factor Tri-Party Agreement”) and (iii) the net cash proceeds from such sale shall be deposited in a Blocked Account.
Permitted Factoring Arrangements means non-recourse sales by Alexion Pharma Italy S.r.l., Alexion Pharma Spain S.L. and any Subsidiary of the Borrower organized under the laws of Greece of its receivables in the ordinary course of business, whether pursuant to a purchase facility or otherwise and not as a financing arrangement, at a discount for such Receivables of not less than 80%.
Permitted Factoring Arrangements has the meaning set forth in Section 5.23.
Permitted Factoring Arrangements means the Sodex Factoring Agreement, as amended from time to time, and other factoring agreements on similar terms that, in each case, are not materially less favorable to Holdings, as amended from time to time, and the Restricted Subsidiaries, taken as a whole, than the arrangements contained in the Sodex Factoring Agreement, as in effect on the Issue Date.
Permitted Factoring Arrangements has the meaning set forth in Section 10.12.