Receivables Financing Transaction means any transaction or series of transactions entered into by Holdings, the Borrower or any Restricted Subsidiary pursuant to which such party consummates a “true sale” of its receivables to a non-related third party on market terms as determined in good faith by the Borrower; provided that such Receivables Financing Transaction is (i) non-recourse to Holdings, the Borrower and the Restricted Subsidiaries and their assets, other than any recourse solely attributable to a breach by Holdings, the Borrower or any Restricted Subsidiary of representations and warranties that are customarily made by a seller in connection with a “true sale” of receivables on a non-recourse basis and (ii) consummated pursuant to customary contracts, arrangements or agreements entered into with respect to the “true sale” of receivables on market terms for similar transactions.
Receivables Financing Transaction means any transaction or series of transactions entered into by the Borrower or any Restricted Subsidiary pursuant to which such party consummates a “true sale” of its receivables to a non-related third party on market terms as determined in good faith by the Borrower; provided that such Receivables Financing Transaction is (i) non-recourse to the Borrower and the Restricted Subsidiaries and their assets, other than any recourse solely attributable to a breach by the Borrower or any Restricted Subsidiary of representations and warranties that are customarily made by a seller in connection with a “true sale” of receivables on a non-recourse basis and (ii) consummated pursuant to customary contracts, arrangements or agreements entered into with respect to the “true sale” of receivables on market terms for similar transactions.
Receivables Financing Transaction means any transaction or series of transactions entered into by the Issuer or any Restricted Subsidiary pursuant to which such party consummates a “true sale” of its receivables to a nonrelated third party on market terms as determined in good faith by the Issuer; provided that such Receivables Financing Transaction is (i) non-recourse to the Issuer and the Restricted Subsidiaries and their assets, other than any recourse solely attributable to a breach by the Issuer or any Restricted Subsidiary of representations and warranties that are customarily made by a seller in connection with a “true sale” of receivables on a non-recourse basis and (ii) consummated pursuant to customary contracts, arrangements or agreements entered into with respect to the “true sale” of receivables on market terms for similar transactions.
More Definitions of Receivables Financing Transaction
Receivables Financing Transaction means any transaction or series of transactions that may be entered into by the Borrower or any Subsidiary pursuant to which the Borrower or such Subsidiary may sell, convey, assign or otherwise transfer (or purport to be sell, convey, assign or otherwise transfer) Securitization Assets (which may include a grant of security interest in such Securitization Assets so sold, conveyed, assigned or otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred) to any Person.
Receivables Financing Transaction means any transaction or series of transactions (including financing terms, covenants, termination events and other provisions) entered into by the Borrower or any Restricted Subsidiary pursuant to which such party sells Securitization Assets to a non-related third party on market terms (as determined in good faith by the Borrower); provided that such Receivables Financing Transaction is (i) non-recourse to the Borrower and the Restricted Subsidiaries and their assets, other than any recourse solely attributable to Standard Securitization Undertakings and (ii) consummated pursuant to customary contracts, arrangements or agreements entered into with respect to the “true sale” of Securitization Assets on market terms for similar transactions (as determined in good faith by the Borrower).
Receivables Financing Transaction means any sale by BTFC or a Domestic Subsidiary of Receivables Assets to a Finance Subsidiary intended to be a true sale transaction and the corresponding sale or pledge of such Receivables Assets (or an interest therein) by the Finance Subsidiary (including increases in the Receivables Program Certificates); provided, however that (i) the terms, conditions and structure (including the legal and organizational structure of the Finance Subsidiary and the restrictions imposed on its activities) of and the documentation incidental to any such transactions must be reasonably acceptable to the Agent, (ii) the Borrower and its Subsidiaries provide no credit support (other than customary limited recourse based upon the collectibility of the Receivables Assets) or collateral (other than the Receivables Assets), and (iii) the documents governing any such transactions do not contain any cross-defaults or cross-acceleration to Debt of the Borrower and its Subsidiaries (other than any such provisions that are not more restrictive than those set forth in the Receivables Program Documents). The Borrower shall deliver a certificate to the Agent concurrently with the effectiveness of any Receivables Financing Transaction certifying that such Receivables Financing Transaction complies with the requirements of this Agreement.
Receivables Financing Transaction means any financing secured by or based on the sale or transfer of, accounts receivable of any Affiliate Guarantor, the Borrower or any of their respective Subsidiaries on terms and conditions reasonably satisfactory to the Required Lenders; provided that the aggregate program amount of Receivable Financing Transactions shall not exceed $350,000,000.
Receivables Financing Transaction means any transaction or series of transactions entered into by the Company, BRS Finance Corp. or any Restricted Subsidiary pursuant to which such party consummates a “true sale” of its receivables to a nonrelated third party on market terms as determined in good faith by the Company; provided that such Receivables Financing Transaction is (i) non-recourse to Parent, the Company, BRS Finance Corp. and the Restricted Subsidiaries and their assets, other than any recourse solely attributable to a breach by Parent, the Company, BRS Finance Corp. or any Restricted Subsidiary of representations and warranties that are customarily made by a seller in connection with a “true sale” of receivables on a non-recourse basis and (ii) consummated pursuant to customary contracts, arrangements or agreements entered into with respect to the “true sale” of receivables on market terms for similar transactions.
Receivables Financing Transaction a loan, advance or other similar credit made to the Borrower and/or its Subsidiaries and secured by a pledge on receivables arising in connection with the provision of services by the Borrower and/or such Subsidiaries, whereby (i) such receivables are paid to one or more accounts directly or indirectly controlled by, or accessible by, the relevant lender(s) or an agent on their behalf and (ii) if the Borrower and/or such Subsidiaries do not pay amounts due and owing in respect of such loan, advance or similar credit, such lender(s) or agent are entitled to apply funds in such accounts toward the payment of such amounts due and owing;
Receivables Financing Transaction means any transaction or series of transactions entered into by the Issuer, Co-Issuer or any Restricted Subsidiary pursuant to which such party consummates a “true sale” of its receivables to a nonrelated third party on market terms as determined in good faith by the Issuer; provided that such Receivables Financing Transaction is (i) non-recourse to the Issuer, Co-Issuer and the Restricted Subsidiaries and their assets, other than any recourse solely attributable to a breach by the Issuer, Co-Issuer or any Restricted Subsidiary of representations and warranties that are customarily made by a seller in connection with a “true sale” of receivables on a non-recourse basis and (ii) consummated pursuant to customary contracts, arrangements or agreements entered into with respect to the “true sale” of receivables on market terms for similar transactions. Table of Contents