Receivables Purchase definition

Receivables Purchase shall have the meaning given such term in Section 2(b).

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Receivables Purchase. Agreement shall mean (a) that certain Receivables Purchase Agreement, dated on or about August 7, 2008, among the SP Sub, the Borrower, as the Servicer thereunder, PNC Bank, as the Administrator thereunder, and the Purchasers, as the same may be amended, supplemented, restated or otherwise modified from time to time and (b) to the extent the existing Receivables Facility is terminated, any other similar agreement entered into on market terms (as determined in the reasonable good faith judgment of the Administrative Agent), so long as such terms are not materially adverse to the Banks compared with the terms of the agreement described in clause (a) above (as determined in the reasonable good faith judgment of the Administrative Agent).

Receivables Purchase means a purchase of Receivables by the Purchasers from the Seller pursuant to Sections 2.01 and 2.02 of the Receivables Purchase Agreement.

Examples of Receivables Purchase in a sentence

Such grant is made to secure the payment of all amounts payable hereunder, including, without limitation, the Receivables Purchase Price.
Except as otherwise specified herein or as the context may otherwise require, capitalized terms used but not otherwise defined herein are defined in Part I of Appendix A to the Receivables Purchase Agreement, dated as of the date hereof (the “Receivables Purchase Agreement”), among Carvana, LLC as the seller and Carvana Receivables Depositor LLC as the purchaser.
In consideration of the sale of the Receivables from the Seller to the Purchaser as provided in Section 2.01, on the Closing Date the Purchaser agrees to pay the Seller an amount equal to the Receivables Purchase Price.
Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Receivables Purchase Agreement.
Such grant is made to secure the payment of all amounts payable hereunder, including the Receivables Purchase Price.
Notwithstanding the foregoing, the obligation of the Seller to repurchase a Receivable shall not be conditioned on the performance by TMCC of its obligation to repurchase such Receivable from the Seller pursuant to the Receivables Purchase Agreement.
The remainder of the Receivables Purchase Price shall be paid by crediting the Seller with a contribution to the capital of the Purchaser.
In consideration of the sale of the Receivables from the Seller to the Purchaser as provided in Section 2.1, on the Closing Date the Purchaser shall have paid to the Seller the Receivables Purchase Price.
Capitalized terms used and not otherwise defined herein shall have the meaning assigned to them in the Receivables Purchase Agreement.
The Issuer shall give the Indenture Trustee and the Rating Agencies prompt written notice of each Event of Default hereunder, each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing Agreement and each default on the part of TMCC of its obligations under the Receivables Purchase Agreement.

More Definitions of Receivables Purchase

Receivables Purchase means a purchase of Receivables by EagleFunding from the Seller pursuant to Sections 2.01 and 2.02 of the EagleFunding Purchase Agreement.

Receivables Purchase means a purchase (whether by means of cash payment or by capital contribution) of Receivables by Triple-A from the Seller pursuant to SECTIONS 2.01 and 2.02 of the Triple-A Purchase Agreement.