Examples of Receivables Financing Subsidiary in a sentence
The Borrower agrees to cause each Person, other than a Special Purpose Receivables Financing Subsidiary, that shall, at any time after the date hereof, become a Wholly-Owned Subsidiary of the Borrower to enter into the Subsidiary Guaranty.
Permit any Permitted Receivables Financing Subsidiary to engage in any activities or to incur any Indebtedness, guaranty, Liens or any other obligations, in each case except as otherwise permitted under the definition of Permitted Receivables Financing Subsidiaries.
Notwithstanding anything to the contrary contained in this Section 5.01(i) or any other Loan Document, the Borrower shall not be required to cause any Receivables Financing Subsidiary or Insurance Subsidiary to join or become a party to, or otherwise become bound by, any guaranty (including the Subsidiary Guaranty) guaranteeing the other Loan Parties’ Obligations under the Loan Documents.
Following the consummation of any Asset Disposition of receivables to the Receivables Financing Subsidiary, the Credit Parties will cause the Receivables Financing Subsidiary to dividend, distribute or otherwise transfer to the Credit Parties any Property of the Receivables Financing Subsidiary not required to be pledged to the purchaser of receivables from the Receivables Financing Subsidiary.
Organize or invest, or permit any Subsidiary to organize or invest, in any new Subsidiary except as permitted under Section 5.02(f)(iii), (vii), (ix), (xiii), (xiv) or (xv) or organizing a new Receivables Financing Subsidiary.