Pool Financing definition

Pool Financing means a financing arrangement entered into by a Pool Operator, as agent for the applicable Shipping Pool, on behalf of the members or participants therein with a third-party lender, which financing is secured by the Pool Financing Receivables of the Vessels in such Shipping Pool.
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Examples of Pool Financing in a sentence

  • Keep proper books of record and account in which full, true and correct entries in conformity with GAAP and all Legal Requirements are made of all dealings and transactions in relation to its business and activities (including accurate and complete records of its Pool Financing Receivables and all payments and collection thereon).

  • The Directors consider that the Framework Agreement, the Pool Financing Agreement, the Factoring Agreement and the Supplemental Factoring Agreement were entered into on normal commercial terms and in the ordinary and usual course of business of the Group.

  • It refers to a mode of financing where Party A handles the financing business for Party B within the Asset Pool Financing Credit Line.

  • The Directors consider that the Framework Agreements, the Pool Financing Agreements, the Factoring Agreements and the Supplemental Factoring Agreements were entered into on normal commercial terms and in the ordinary and usual course of business of the Group.

  • Under any of the following circumstances, all financing debts of Party B under the asset pool shall be deemed due in advance, and Party A has the right to terminate the Asset Pool Financing business with Party B immediately on the date on which it discovers such circumstance.

  • If Party B's group conducts the asset pool business with Party A, the Asset Pool Financing Credit Line of the pool leader and member companies shall be calculated, allocated, and swept in accordance with the Asset Pool Business Cooperation Agreement.

  • If Party B active the business of Asset Pool Financing, Party A shall open a Margin Account for Party B for depositing the Asset Pool margin.

  • During this quarter, EOHHS worked with Navigant to finalize the Safety Net Care Pool Financing Report.

  • Party A may also directly realize the pledged assets, or convert the pledged assets into money upon negotiation with the Pledgor, or auction or sell off the pledged assets, and use the proceeds received therefrom to first pay off the debts under the Asset Pool Financing arrangement.

  • When the group (which refers to Party B and its member companies, the same below) conducts the Asset Pool Financing business with Party A, the sum of the Asset Pool Financing Credit Line of Party B and all its member companies shall be the group's Asset Pool Financing Credit Line.