Permitted Securitisation means the sale of inventory, receivables or other assets of the Group pursuant to which:
Permitted Securitisation means any transaction or series of transactions where Financial Indebtedness is incurred by a Material Group Member in connection with a securitisation of assets or factoring of receivables.
Permitted Securitisation means any transaction or series of transactions where financial indebtedness is incurred by the Guarantor or any of its Material Subsidiaries in connection with a securitisation of receivables where the recourse of the providers of that financial indebtedness is limited to: (i) those receivables and any defined or identifiable cash flows or assets arising out of the securitisation of such receivables or (ii) if those receivables and any such defined or identifiable cash flows or associated assets comprise all or substantially all of the business of the company incurring such financial indebtedness, the shareholding or other interest of the Guarantor or any of its Material Subsidiaries in such company.
Examples of Permitted Securitisation in a sentence
The definition of “Excluded Fundraising Proceeds” in Clause 13.1 (Disposal, Permitted Fundraising and Permitted Securitisation Proceeds and Excess Cashflow) shall be amended by deleting the word “upon” in each of paragraphs (i) and (ii) and replacing it with the words “as soon as reasonably practicable (and in any event within 90 days) following”.
More Definitions of Permitted Securitisation
Permitted Securitisation means a securitisation entered into by a member or members of the Group, in which:
Permitted Securitisation means a transaction or series of related transactions providing for the securitisation of receivables and related assets by the Borrower or its Subsidiaries, including a sale at a discount, provided that (i) such receivables have been transferred, directly or indirectly, by the originator thereof to a person that is not a member of the Group in a manner that satisfies the requirements for an absolute conveyance (or, where the originator is organised in Mexico, a true sale), and not merely a pledge, under the laws and regulations of the jurisdiction in which such originator is organised; and (ii) except for customary representations, warranties, covenants and indemnities, such sale, transfer or other securitisation is carried out on a non-recourse basis or on a basis where recovery is limited solely to the collection of the relevant receivables (other than where such recourse or recovery is required pursuant to Article 122a of the Capital Requirements Directive of the European Parliament and of the Council of the European Union (as introduced by Directive 2009/111/EC of 16 September 2009, amending Directives 2006/48/EC, 2006/49/EC and 2007/64/EC) (as further amended or replaced from time to time, including, without limitation, by virtue of Articles 404 to 410 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms) and any relevant implementing legislation or pursuant to any analogous laws or regulations in any jurisdiction (the “Relevant Legislation”)).
Permitted Securitisation means the financing constituted by, among other things, the issuance of capital markets debt (some or all of which may be wrapped and with bond proceeds to be on-lent to operating companies who are members of the Security Group), bank debt, finance leases and/or related hedging and derivative transactions and as provided for in the Finance Documents (as at the Initial Issue Date) including, without limitation:
Permitted Securitisation means, without prejudice to the ability of the Group to otherwise effect any securitisation in accordance with the provisions of this Agreement, a securitisation or securitisations of assets by a Group Member provided that the aggregate value (without double-counting) of:
Permitted Securitisation means any securitisation programme operated by any members of the Tiger Group in substantially the manner such programme was operated prior to the date of the Offer.
Permitted Securitisation means any financing transaction of the Receivables or any other receivables by a member of the Group which is intended to take effect as a financing by means of securitisation or other type of structured or secured financing which satisfies the following conditions:
Permitted Securitisation means any arrangements forming part of a transaction involving the securitisation or other financing of assets or cash flows (or both) relating to royalty income provided that, while the aggregate amount of the Total Revolving Facility Commitments of all the Revolving Lenders in respect of the Revolving Facility is greater than US$500,000,000 or there is any amount outstanding under or in respect of Facility A or Facility B, the Company provides a certificate to the Facility Agent signed by two directors (one of which is the finance director of the Company) confirming that the proceeds of that securitisation or other financing are to be applied such that there will be a permanent reduction of the Facilities of an amount equivalent to the net amount anticipated to be received by the Group from such securitisation or other financings. "Qualifying Lender" has the meaning given to it in Clause 19 (Tax gross-up and indemnities). "Quotation Day" means, in relation to any period for which an interest rate is to be determined: