Receivables Portfolio definition
Examples of Receivables Portfolio in a sentence
The Company will not, nor will it permit any other Credit Party to, acquire any single Receivables Portfolio with a purchase price in excess of the lesser of (i) 50% of Consolidated Tangible Net Worth as of the Company’s most recently ended fiscal quarter and based on the financial statements of the Company for such fiscal quarter and (ii) $100,000,000.
The Borrower will not, nor will it permit any Restricted Subsidiary to, acquire any single or related series of Receivables Portfolio with a purchase price in excess of $150,000,000 (it being agreed that any one or more tranches or groups of Receivables purchased by one or more Loan Parties from the same seller or an Affiliate of such seller within a period of seven (7) consecutive days shall be deemed to be a single acquisition).
The Loan Parties, and, to their knowledge, their agents and representatives, have at all times complied with the Collection and Underwriting Policy with regard to each Receivable, Receivables Portfolio, and the purchase or acquisition of any Receivables Portfolio or Eligible Receivables in all material respects.
The information set forth on the Portfolio Schedule to the Confirmation for such Transaction is true and correct in all material respects and such Portfolio Schedule includes a complete listing of all Receivables comprising the Eligible Receivables Portfolio, in each case, as of the date such Portfolio Schedule was prepared.
The Borrower will not, nor will it permit any Credit Party to, acquire any single Receivables Portfolio with a purchase price in excess of the lesser of (i) 50% of Consolidated Tangible Net Worth as of the Borrower’s most recently ended fiscal quarter and based on the financial statements of the Borrower for such fiscal quarter and (ii) $100,000,000.