Examples of Permitted Receivables Program in a sentence

Notwithstanding the foregoing, the Receivables Subsidiary shall not engage in any business other than the transactions contemplated by the Permitted Receivables Program.
With reasonable promptness, notice that the purchaser of receivables under the Permitted Receivables Program has refused to purchase or rejected any receivables offered to such purchaser, or of the occurrence of any default or event of default under the Permitted Receivables Program.
Each Grantor, by granting a security interest in its Letter-of-Credit Rights (other than such as is collateral for or issued subject to or in connection with the Borrowers’ Permitted Receivables Program) to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights) to the Proceeds of all Letter-of-Credit Rights of which it is or hereafter becomes a beneficiary or assignee.
With reasonable promptness, notice that the purchaser of receivables under the Permitted Receivables Program has refused to purchase or rejected any receivables offered to such purchaser.
The Administrative Agents shall be satisfied with the liquidity position of the Company and its Subsidiaries and with the terms of any Indebtedness of the Company and its Subsidiaries, including the terms of the Permitted Receivables Program.

More Definitions of Permitted Receivables Program

Permitted Receivables Program means any agreement of the Borrower or any of the Subsidiaries providing for sales, transfers or conveyances of accounts receivable purporting to be sales (and considered sales under GAAP) that do not provide, directly or indirectly, for recourse against the seller of such accounts receivable (or against any of such seller's Subsidiaries or Affiliates) by way of a guaranty or any other credit support arrangement, with respect to the amount of such accounts receivable (based on the financial condition or circumstances of the obligor thereunder), other than such limited recourse as is reasonable given market standards for transactions of a similar type, taking into account such factors as historical bad debt loss experience and obligor concentration levels.

Permitted Receivables Program means a receivables program providing for the Disposition by the Company or any of its Subsidiaries of trade receivables and related collateral, credit support and similar rights, to a Person who is not a Subsidiary of the Company or is an SPV; provided, that:

Permitted Receivables Program means any Disposition by the Company or any of its Subsidiaries consisting of trade receivables and related collateral, credit support and similar rights, pursuant to one or more receivables programs, to a Person who is not a Subsidiary of the Company or is an SPV; provided that:

Permitted Receivables Program means any agreement of the Company or any of its Subsidiaries providing for sales, transfers or conveyances of accounts receivable purporting to be sales (and considered sales under GAAP) that do not provide, directly or indirectly, for recourse against the seller of such accounts receivable (or against any of such seller's Subsidiaries or Affiliates) by way of a guaranty or any other credit support arrangement, with respect to the amount of such accounts receivable (based on the financial condition or circumstances of the obligor thereunder), other than such limited recourse for customary representations, warranties, covenants and indemnities as is reasonable given market standards for transactions of a similar type, taking into account such factors as historical bad debt loss experience and obligor concentration levels.

Permitted Receivables Program means any receivables securitization program pursuant to which we or any of our subsidiaries sells accounts receivable to any non-Affiliate in a "true sale" transaction. However, any related indebtedness incurred to finance the purchase of the accounts receivable is not includible on our or any of our subsidiaries' balance sheet (excluding the footnotes thereto) in accordance with GAAP and applicable regulations of the SEC.