Permitted Factoring Transactions means receivables purchase facilities and factoring transactions in existence on the Issue Date or entered into by Parent Guarantor or any Restricted Subsidiary with respect to Receivables originated by Parent Guarantor or such Restricted Subsidiary in the ordinary course of business, which may contain Standard Securitization Undertakings.
Permitted Factoring Transactions means receivables purchase facilities and factoring transactions entered into by the Company or any Restricted Subsidiary with respect to Receivables originated in the ordinary course of business by the Company or such Restricted Subsidiary, which receivables purchase facilities and factoring transactions give rise to Attributable Receivables Amounts that are non-recourse to the Company and its Restricted Subsidiaries other than limited recourse customary for receivables purchase facilities and factoring transactions of the same kind; provided that the aggregate face amount of all receivables sold or transferred pursuant to Permitted Factoring Transactions that have not yet reached their stated maturity date shall not exceed at any one time the greater of $350.0 million and 5.0 percent of Total Assets.
Permitted Factoring Transactions means, collectively, any factoring program in an aggregate outstanding amount not to exceed the greater of $10,000,000 and 16.7% of Consolidated Adjusted EBITDA for the last Test Period (provided that the outstanding amount of such Permitted Factoring Transaction for the purposes of this definition shall be deemed to be equal to the Permitted Factoring Net Investment for the last Test Period) so long as such transactions are (i) non-recourse to Holdings, the Borrower and any of the Restricted Subsidiaries (except for any customary limited recourse obligations and any performance undertaking or Guarantee that is no more extensive in any material respect than customary performance undertakings) and (ii) subject to lien release agreements in form and substance reasonably acceptable to the Administrative Agent.
More Definitions of Permitted Factoring Transactions
Permitted Factoring Transactions means receivables purchase facilities and factoring transactions in existence on the Initial Issuance Date or entered into by Parent Guarantor or any Restricted Subsidiary with respect to Receivables originated by Parent Guarantor or such Restricted Subsidiary in the ordinary course of business, which may contain Standard Securitization Undertakings.
Permitted Factoring Transactions means receivables purchase facilities and factoring transactions entered into by Parent or any Restricted Subsidiary with respect to Receivables originated by Parent or such Restricted Subsidiary in the ordinary course of business and owing by one or more Permitted Factoring Customers, which receivables purchase facilities and factoring transactions give rise to Attributable Receivables Amounts that are non-recourse to Parent and its Restricted Subsidiaries other than limited recourse customary for receivables purchase facilities and factoring transactions of the same kind, provided that (a) the aggregate face amount of all receivables sold or transferred pursuant to Permitted Factoring Transactions shall not exceed $100,000,000 during any Fiscal Quarter, and (b) such Receivables are segregated into deposit accounts that are separate and distinct from the deposit accounts constituting or holding Collateral (and Parent and its Restricted Subsidiaries shall not otherwise commingle proceeds received in connection with a Permitted Factoring Transaction with any Collateral or proceeds thereof).
Permitted Factoring Transactions means Permitted Non-Recourse Factoring Transactions and Permitted Recourse Factoring Transactions.
Permitted Factoring Transactions means receivables purchase facilities and factoring transactions entered into by WIL-Ireland or any Restricted Subsidiary with respect to Receivables originated by WIL-Ireland or such Restricted Subsidiary in the ordinary course of business and owing by one or more Permitted Factoring Customers, which receivables purchase facilities and factoring transaction give rise to Attributable Receivables Amounts that are non-recourse to WIL-Ireland and its Restricted Subsidiaries other than limited recourse customary for receivables purchase facilities and factoring transactions of the same kind, provided that (i) the aggregate face amount of all receivables sold or transferred pursuant to Permitted Factoring Transactions shall not exceed $400,000,000 in any Fiscal Year and (ii) the aggregate face amount of all receivables sold or transferred pursuant to Permitted Factoring Transactions shall not exceed $100,000,000 during any Fiscal Quarter.
Permitted Factoring Transactions means transactions pursuant to which the Borrower or any Subsidiary of the Borrower sells Accounts Receivable owing to the Borrower or any Subsidiary of the Borrower from Account Debtors to Citibank, N.A., its branches and subsidiaries and affiliates or another purchaser acceptable to the Agent and the Majority of the Lenders, acting reasonably; provided that (a) not less than 3 Banking Days prior to the initial sale of any Accounts Receivable owing by an Account Debtor, the Borrower shall have delivered to the Agent an Officer’s Certificate attaching a true, correct and complete copy of the applicable supplier agreement (or other document, agreement or instrument evidencing such sale transaction) in respect of such Account Debtor which shall be in form and substance acceptable to the Agent and the Majority of the Lenders, acting reasonably, including, for certainty, but without limitation, with respect to the discount and pricing applicable to the sale of the subject Accounts Receivable, (b) in connection with any sale of Accounts Receivable owing by an Account Debtor in excess of [Redacted] (or the Equivalent Amount thereof) in aggregate with all other Accounts Receivable subject to Permitted Factoring Transactions at such time, either (i) the Borrower shall deliver a revised Borrowing Base Certificate within 5 Banking Days of such sale (with the only adjustments from the previously effective Borrowing Base Certificate being adjustments to take into account the disposition of Eligible Accounts Receivable and, if applicable, the receipt of Unencumbered Cash from the proceeds of such sale) and the new Borrowing Base shall take effect immediately subject to the provisions of Section 2.22(2) or (ii) the Accounts Receivable sold shall be immediately excluded from the Borrowing Base without any further notice or documentation, (c) the maximum aggregate amount of Accounts Receivable sold in any rolling sixty (60) day period (in respect of all Account Debtors) does not exceed [Redacted], (d) at the time of entering into any such transaction and any sale of Accounts Receivable, no Default or Event of Default shall have occurred and be continuing and shall not result in the occurrence of a Default or an Event of Default and (e) the entering into of such transaction and sale of Accounts Receivable is not for the purpose of avoiding the occurrence of any Default or Event of Default.
Permitted Factoring Transactions means receivables purchase facilities and factoring transactions entered into by WIL-Ireland or any Restricted Subsidiary with respect to Receivables originated by WIL-Ireland or such Restricted Subsidiary in the ordinary course of business and owing by one or more Permitted Factoring Customers, which receivables purchase facilities and factoring transaction give rise to Attributable Receivables Amounts that are non-recourse to WIL-Ireland and its Restricted Subsidiaries other than limited recourse customary for receivables purchase facilities and factoring transactions of the same kind, provided that the aggregate face amount of all receivables sold or transferred pursuant to Permitted Factoring Transactions shall not exceed $300,000,000 in any Fiscal Year. ACTIVE 214387177
Permitted Factoring Transactions has the meaning set forth in the Syndicated Facility Agreement.