Receivable Asset definition

Receivable Asset has the meaning specified in Section 2.01.
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Receivable Asset means the Debtor’s aliquot share of an unliquidated receivable being pursued in litigation by the liquidator on behalf of RXT UK, Ltd., against Shell E&P Ireland Limited, in the aggregate, unallocated amount of $10.8 million.
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Receivable Asset means each account, instrument, chattel paper, general intangible or similar asset (whether now existing or arising in the future, a “Receivable”) of each Originator, and any assets related thereto including all collateral securing such Receivable, all contracts, contract rights and all guarantees or other obligations of such Receivable and proceeds of such Receivable; provided, however, that (i) “Receivable” shall not include any obligations of any Seller Entity or any Affiliate of a Seller Entity to pay for merchandise sold or services rendered and (ii) for purposes of the provisions of Sections 3 and 5 and elsewhere herein respecting payments on, or other matters in respect of, Receivables, “Receivable” shall not include any such obligation created at the time any “Event of Default” is then continuing under Section 8(a) or 8(f) of the Parent Credit Agreement.
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Examples of Receivable Asset in a sentence

  • Except as otherwise provided herein, sell, assign (by operation of law or otherwise) or otherwise dispose of, or grant any option with respect to, or create or suffer to exist any Adverse Claim upon or with respect to, any Receivable Asset, or upon or with respect to any related Contract or upon or with respect to any deposit account to which any Collections of any Seller Receivables are sent (including, without limitation, any Lock-Box Account), or assign any right to receive income in respect thereof.

  • The Trustee shall not be obligated to perform any of the obligations or duties of the Debtor thereunder or to take any action to collect or enforce any Receivable, Asset, Transaction Document or other claim for payment assigned hereunder, except as the Trustee may elect to undertake on behalf of the Noteholders upon full and adequate indemnification acceptable to the Trustee for any and all costs and liabilities that may result from such collection or enforcement.

  • Upon each Transfer by the Seller of each Receivable Asset hereunder, the Buyer shall have a valid and perfected first priority undivided 100% ownership interest in such Receivable Asset free and clear of any Adverse Claim except as created by this Agreement and the Canadian Receivables Purchase Agreement.

  • Except for the sales of Transferred Assets contemplated herein, not sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse Claim upon or with respect to, any Receivable Asset or Originator Collateral, or upon or with respect to any account to which any Collections of any Transferred Asset are sent, or assign any right to receive income in respect thereof.

  • Upon each sale, transfer, assignment and/or contribution by such Seller of each Receivable Asset hereunder, the Buyer shall have a valid and perfected first priority 100% ownership interest in such Receivable Asset free and clear of any Adverse Claim except as created or permitted by this Agreement and the Receivables Purchase Agreement.

  • Except for the sales of Transferred Assets contemplated herein, not sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse Claim upon or with respect to, any Receivable Asset or Seller Collateral, or upon or with respect to any account to which any Collections of any Transferred Asset are sent, or assign any right to receive income in respect thereof.

  • Anything in this Agreement or any other Transaction Document to the contrary notwithstanding, this Agreement shall not constitute an agreement to assign any Receivable or Related Receivable Asset or any right thereunder if an attempted assignment, without the consent of a third party, would constitute a breach or in any way adversely affect the rights of the applicable Transferor or Transferee thereunder.

  • Upon each sale, transfer, assignment and/or contribution by such Seller of each Receivable Asset hereunder, the Buyer shall have a valid and perfected first priority undivided 100% ownership interest in such Receivable Asset free and clear of any Adverse Claim except as created or permitted by this Agreement and the Purchase Agreements.

  • Upon each sale, transfer and/or assignment by the Seller of each Receivable Asset hereunder, the Buyer shall have a valid and perfected first priority undivided 100% ownership interest or security interest in such Receivable Asset free and clear of any Adverse Claim except as created by this Agreement and the Second Amended and Restated Receivables Purchase Agreement.

  • The Trustee shall not be obligated to perform any of the obligations or duties of the Debtor thereunder or to take any action to collect or enforce any Receivable, Asset, Transaction Document or other claim for payment assigned hereunder, except as the Trustee may elect to undertake on behalf of the Noteholders upon full and adequate indemnification acceptable to the Trustee for any and all costs and liabilities that my result from such collection or enforcement.