Product Sourcing Obligations definition

Product Sourcing Obligations means costs of goods sold attributable to the products or equipment sold to Franchisees or locations owned by one or more Non-Securitization Entities, Excluded Locations, Securitization-Owned Locations or third parties, which resulted in Product Sourcing Payments (representing the payments to be made under or in connection with any agreement or other arrangement to purchase manufactured products and equipment from suppliers, for re-sale) and rebates required to be paid or repaid in connection with product sourcing requirements.
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Product Sourcing Obligations means costs of goods sold attributable to the products or equipment sold to Franchisees or locations owned by one or more Non-Securitization Entities, Excluded Locations, Securitization-Owned Locations or third parties, which resulted in Product Sourcing Payments (representing the payments to be made under or in connection with any agreement or other arrangement to purchase manufactured products and equipment from suppliers, for re-sale) and rebates required to be paid or repaid in connection with product sourcing requirements. “Product Sourcing Payments” means, collectively, (i) amounts received in respect of product and equipment sales to Securitization-Owned Locations, Excluded Locations, and locations owned by one or more Non-Securitization Entities and third parties, (ii) Franchisee Payments in respect of product and equipment sales and (iii), in each case of the foregoing clauses (i) and (ii), rebates or other amounts received in respect of such sales, provided that Product Sourcing Payments shall not include amounts attributable to the Product Sourcing Business. “pro forma event” has the meaning set forth in Section 14.17 of the Base Indenture. “Pro Oil Brand” means the Pro Oil Change® name and Pro Oil Change Trademarks, whether alone or in combination with other words or symbols, and any variations or derivatives of any of the foregoing (but excluding any other Driven Securitization Brand). “Protected Purchaser” has the meaning specified in Section 8-303 of the UCC. “Qualified Institution” means a depository institution organized under the laws of the United States of America or any state thereof or incorporated under the laws of a foreign jurisdiction with a branch or agency located in the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities that at all times has the Required Rating and, in the case of any such institution organized under the laws of the United States of America, whose deposits are insured by the FDIC. “Qualified Trust Institution” means an institution organized under the laws of the United States of America or any state thereof or incorporated under the laws of a foreign jurisdiction with a branch or agency located in the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities that at all times (i) is authorized under such laws to act as a trustee or in any other fiduciary capacity, ...
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Product Sourcing Obligations means all amounts payable by or on behalf of the Securitization Entities under or in connection with the Product Sourcing Arrangements.
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Examples of Product Sourcing Obligations in a sentence

  • In the event sufficient funds are not available in the U.K. Concentration Account to pay any Product Sourcing Obligations, the Manager may, but shall not be obligated to, make an advance (each, a “Product Sourcing Advance”) to fund such payment to the extent that it reasonably expects to be reimbursed for such advances from the proceeds of future Collections deposited in the U.K. Concentration Account, it being understood and agreed that any such advances shall not constitute Manager Advances.


More Definitions of Product Sourcing Obligations

Product Sourcing Obligations means costs of goods sold attributable to the products or equipment sold to Franchisees or locations owned by one or more Non-Securitization Entities, Securitization-OwnedExcluded Locations, Retained Take 5 BrandedSecuritization-Owned Locations or third parties, which resulted in Product Sourcing Payments (representing the payments to be made under or in connection with any agreement or other arrangement to purchase manufactured products and equipment from suppliers, for re-sale) and rebates required to be paid or repaid in connection with product sourcing requirements.
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Related to Product Sourcing Obligations

  • CREFC® Intellectual Property Royalty License Fee With respect to each Mortgage Loan (including any REO Mortgage Loan) and for any Distribution Date, the amount accrued during the related Interest Accrual Period at the CREFC® Intellectual Property Royalty License Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the CREFC® Intellectual Property Royalty License Fee shall be payable from the Lower-Tier REMIC.

  • Quality Agreement has the meaning set forth in Section 9.6.

  • Supporting Obligations means supporting obligations (as such term is defined in the Code), and includes letters of credit and guaranties issued in support of Accounts, Chattel Paper, documents, General Intangibles, instruments or Investment Property.

  • CREFC® Intellectual Property Royalty License Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0005% per annum.