Permitted Securitization Transactions means sales of accounts receivable and other securitization transactions in nominal principal amounts not to exceed $50,000,000; provided, that such transactions may include only recourse to the Borrower or a Subsidiary (a) under customary representations and warranties not constituting credit support for the assets sold, and (b) constituting credit support in an amount not exceeding 10% of the nominal principal amount of the transaction. The nominal principal amount of any Permitted Securitization Transaction, and the discount or other yield attributable thereto for purposes of determination of Interest Expense, shall each be determined on a reasonable basis by the Borrower as if each such transaction were a financing transaction and not a sale.
Permitted Securitization Transactions means a sale of accounts receivable or other rights to payment in a transaction involving a true sale and commonly referred to as a securitization transaction; provided that the aggregate outstanding thereunder (i.e., advanced as the purchase price and not repaid from collections) by Carlisle and its Consolidated Subsidiaries pursuant to all such transactions shall at no time exceed $250,000,000.
Permitted Securitization Transactions means a sale, transfer and/or pledge of accounts receivable or other rights to payment created by or arising from sales of goods, leases of goods or the rendition of services rendered no matter how evidenced whether or not earned by performance (whether constituting accounts, general intangibles, chattel paper or otherwise); provided that the aggregate outstanding thereunder (i.e., advanced as the purchase price and not repaid from collections) by the Borrower and its Consolidated Subsidiaries pursuant to all such transactions shall at no time exceed $100,000,000.
Examples of Permitted Securitization Transactions in a sentence
Total Debt of Consolidated Subsidiaries (excluding (i) Debt of a Subsidiary to Carlisle or to a Wholly-Owned Subsidiary and (ii) Debt arising in connection with Permitted Securitization Transactions) will at no time exceed 15% of Consolidated Net Worth.
For the avoidance of doubt, the requirements of this Section 5.12(f) shall only apply upon the permanent termination of such Permitted Securitization Transactions and shall not be deemed to have occurred because there is no outstanding balance under the Permitted Securitization Transactions or Receivables are not presently being sold and/or financed under the Permitted Securitization Transactions.
Neither the Borrower nor any Subsidiary of the Borrower shall make Investments in any Person except as permitted by Section 5.06 and except: (a) Portfolio Investments made in the ordinary course of business and consistently with practices existing on December 31, 2003; and (b) Investments by the Borrower in a SPE Subsidiary in connection with Permitted Securitization Transactions.
The Borrower shall not engage in any business, activity or transaction which is not incidental to the transactions contemplated by this Agreement and the Borrower shall maintain all “corporate separateness” requirements applicable to Subsidiaries with respect to Permitted Securitization Transactions.
In connection with Permitted Securitization Transactions, the Company and each SPV have or shall have entered into agreements pursuant to which from time to time certain accounts, contract rights, rights to the payment of money, chattel paper instruments, deposit accounts, general intangibles, and other assets will be purchased by such SPV from the Company, or otherwise contributed to the capital of such SPV by the Company.
More Definitions of Permitted Securitization Transactions
Permitted Securitization Transactions means any transaction providing for the sale, securitization or other asset-backed financing of trade accounts receivable arising in Canada or the United States of or owing to the Company or a Subsidiary of the Company, provided that such disposition of accounts receivable pursuant to the securitization transactions are without recourse to the Company or such Subsidiary and provided that the terms and conditions of all such securitization transactions shall be on an Arm's Length basis and on commercially reasonable terms provided that the receivables to which such securitization relates shall at no time be greater then the aggregate of $34,000,000 and Cdn. $6,000,000;
Permitted Securitization Transactions means sales of accounts receivable of DMI Industries, Inc. and ShoreMaster, Inc. in nominal principal amounts not to exceed, in the aggregate, $50,000,000; provided, that such transactions may include only recourse to the Company or a Subsidiary (a) under customary representations and warranties not constituting credit support for the assets sold, and (b) constituting credit support in an amount not exceeding 10% of the nominal principal amount of the transaction. The nominal principal amount of any Permitted Securitization Transaction, and the discount or other yield attributable thereto for purposes of determination of Interest Charges, shall each be determined on a reasonable basis by the Company as if each such transaction were a financing transaction and not a sale.
Permitted Securitization Transactions means sales of accounts receivable and other securitization transactions in nominal principal amounts not to exceed (a) $50,000,000 for Varistar Corporation and its Subsidiaries, and (b) $50,000,000 for the Borrower and Subsidiaries other than Varistar Corporation and its Subsidiaries; provided, that such transactions may include only recourse to the Borrower or a Subsidiary (a) under customary representations and warranties not constituting credit support for the assets sold, and (b) constituting credit support in an amount not exceeding 10% of the nominal principal amount of the transaction. The nominal principal amount of any Permitted Securitization Transaction, and the discount or other yield attributable thereto for purposes of determination of Interest Expense, shall each be determined on a reasonable basis by the Borrower as if each such transaction were a financing transaction and not a sale.
Permitted Securitization Transactions means any transaction providing for the sale, securitization or other asset-backed financing of trade accounts receivable arising in Canada or the United States of or owing to the Borrower or a Subsidiary of the Borrower, provided that such disposition of accounts receivable pursuant to the securitization transactions are without recourse to the Borrower or such Subsidiary and provided that the terms and conditions of all such securitization transactions shall be on an Arm's Length basis and on commercially reasonable terms;
Permitted Securitization Transactions means sales of accounts receivable and other securitization transactions in nominal principal amounts not to exceed $50,000,000; provided that such transactions may include only recourse to the Company or a Subsidiary (a) under customary representations and warranties not constituting credit support for the assets sold, and (b) constituting credit support in an amount not exceeding 10% of the nominal principal amount of the transaction. The nominal principal amount of any Permitted Securitization Transaction, and the discount or other yield attributable thereto for purposes of determination of Interest Expense, shall each be determined on a reasonable basis by the Company as if each such transaction were a financing transaction and not a sale.
Permitted Securitization Transactions means a sale of accounts receivable or other rights to payment in a transaction involving a true sale and commonly referred to as a securitization transaction; FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, Page 23 3ACTIVE 221393034 provided that the aggregate outstanding thereunder (i.e., advanced as the purchase price and not repaid from collections) by Carlisle and its Consolidated Subsidiaries pursuant to all such transactions shall at no time exceed $250,000,000.
Permitted Securitization Transactions means sales of accounts receivable and other securitization transactions in nominal principal amounts not to exceed (a) $50,000,000 for Varistar Corporation and its Subsidiaries, and (b) $50,000,000 for the Borrower and Subsidiaries other than Varistar Corporation and its Subsidiaries; provided, that such transactions shall include only recourse to the Borrower or a Subsidiary (i) under customary representations and warranties not constituting credit support for the assets sold, and (ii) not exceeding 10% of the nominal principal amount of the transaction. The nominal principal amount of any Permitted Securitization Transaction, and the discount or other yield attributable thereto for purposes of determination of Interest Expense, shall each be determined on a reasonable basis by the Borrower as if each such transaction were a financing transaction and not a sale.