Receivables Commitment definition

Receivables Commitment means the amount set forth for each Bank

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Receivables Commitment of any Bank means (a) the amount set forth opposite such Bank's name under the heading "Receivables Commitment" on Annex A or, in the case of a Bank that becomes a Bank pursuant to an assignment, the amount of the assignor's Receivables Commitment assigned to such Bank, in either case, as the same may be reduced from time to time pursuant to Section 1.07, cancelled pursuant to Section 7.07 or increased or reduced from time to time pursuant to assignments in accordance with Section 9.10(a), or (b) as the context may require, the obligation of such Bank to make Receivables Loans in an aggregate unpaid principal amount not exceeding such amount.

Receivables Commitment. Sixty Million Dollars ($60,000,000). On or after the Receivables Conversion Date, the Receivables Commitment shall be zero.

Examples of Receivables Commitment in a sentence

The Receivables Commitment Period shall be extended for 18 months following the Amendment Closing Date (as defined below) and Final Maturity Date and Term shall be extended for a 66 month period following the Amendment Closing Date.
This Agreement and the other Facility Documents set forth the entire understanding of the parties relating to the subject matter hereof, and supersede all prior and contemporaneous understandings and agreements, whether written or oral, including the Receivables Commitment Letter, dated June 4, 2002, from MLMC to the Borrower and Edison.
Please permanently terminate the [Aggregate Receivables Commitment] --------- [Aggregate Loan Commitment].
The amounts required to be prepaid by this subsection 2.9(f) shall be applied pro rata among the Term Loans, the Revolving Loans and the BA Rate Loans (based on the Dollar Equivalent amount of the then outstanding Loans under each Facility) and to permanently reduce the Revolving Commitment by an amount equal to the Receivables Commitment Reduction Amount.
In the case of any reduction, termination or reallocation of the Aggregate Receivables Commitment, the Agent shall directly contact the Transfer and Administration Agent for any relevant information.
In accordance with the terms and conditions of this Agreement, the Debtor may borrow, cause the Receivables Loan to be repaid through collections and reborrow during the Receivables Commitment Period.
As of any date of determination, an amount equal to the Receivables Commitment minus the excess, if any, of the outstanding Aggregate Equipment Loan Note Principal Balance over $270,000,000.
The Lender agrees, pursuant to the terms of this Agreement and subject to the satisfaction of the conditions precedent in Section 6 of this Agreement, to make one or more Receivables Advances to the Debtor from time to time during the Receivables Commitment Period, provided that at such time (and after giving effect to any Receivables Advance currently then to be made) the aggregate outstanding principal amount of all Receivables Advances shall not exceed the Receivables Borrowing Base.
The Company may from ---------------------------------------- time to time, in accordance with Section 2.5(c), reduce or terminate the Aggregate Loan Commitment or the Aggregate Receivables Commitment.
Loan Commitment and Aggregate ------------------------------------------------------ Receivables Commitment.

More Definitions of Receivables Commitment

Receivables Commitment means, for any Receivables Lender with respect to any Receivables Facility, the commitment amount designated for such Lender pursuant to the Receivables Credit Documents.

Receivables Commitment means at any time with respect to each financial institution which is a party to the Receivables Purchase Agreement, the commitment of such financial institution under the Receivables Purchase Agreement.

Receivables Commitment means, for each Bank, the amount set forth ---------------------- for each Bank under "Receivables Commitment" on Schedule 1.1, as such amount may be adjusted under Section 2.5 and the Transfer and Administration Agreement.