Receivables SPE definition

Receivables SPE means a Subsidiary that is a special purpose entity that (a) borrows against Receivables or purchases, leases or otherwise acquires Receivables or sells, disposes, assigns, leases, conveys or otherwise transfers Receivables to one or more third party purchasers or another Receivables SPE in connection with a Qualified Receivables Transaction or (b) engages in other activities that are necessary or desirable to effectuate the activities described in the definitions of Qualified Receivables Transaction or Third-Party Vendor Financing Program, or (c) is established or then used solely for the purpose of, and has no business other than, owning a Receivables SPE, servicing Receivables owned by a Receivables SPE, owning or holding title to the property or assets giving rise to such Receivables or any activities incidental thereto (including those described in the definitions of Qualified Receivables Transaction or Third-Party Vendor Financing Program).
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Receivables SPE means a Subsidiary that is a special purpose entity that
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Receivables SPE means a Subsidiary that is a special purpose entity that (a) borrows against Receivables or purchases, leases or otherwise acquires Receivables or Transfers Receivables to one or more third party purchasers or another Receivables SPE as part of a Qualified Receivables Transaction or (b) engages in other activities that are necessary or desirable to effectuate the activities described in the definitions of Qualified Receivables Transaction or the Third Party Vendor Financing Program, or (c) is established solely for the purpose of, and has no business other than, owning a Receivables SPE, servicing Receivables owned by a Receivables SPE, owning or holding title to the property or assets giving rise to such Receivables or any activities incidental thereto (including those described in the definitions of Qualified Receivables Transaction or the Third Party Vendor Financing Program).
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Examples of Receivables SPE in a sentence

  • ThePriority Term Loan Facility is guaranteed by each of the Debtors (with the exception of iQor Seller Services, LLC, Interactive Response Technologies, LLC, Cyber Teleservices Marketing, Inc., iQor Receivables SPE LLC, and iQor Receivables SPE 2, LLC) and is secured by first priority liens (subject to certain permitted liens) on all of the collateral under the First Lien Credit 7 Exclusive of approximately $5 million of outstanding letters of credit.

  • The First Lien Term Loan Facility is guaranteed by each of the Debtors (with the exception of iQor Seller Services, LLC, Interactive Response Technologies, LLC, Cyber City Teleservices Marketing, Inc., iQor Receivables SPE LLC, and iQor Receivables SPE 2, LLC) and is secured by a first priority lien (subject to certain permitted liens) on substantially all assets of such Debtors other than the assets securing the Receivables Facility.

  • The Second Lien Term Loan Facility is guaranteed by each of the Debtors (with the exception of iQor Seller Services, LLC, Interactive Response Technologies, LLC, Cyber City Teleservices Marketing, Inc., iQor Receivables SPE LLC, and iQor Receivables SPE 2, LLC) and is secured by a second priority lien (subject to certain permitted liens) on substantially all assets of such Debtors other than the assets securing the Receivables Facility.

  • On September 10, 2020 (the “ Petition Date”), each of the Debtors other than iQor Receivables SPE LLC and iQor Receivables SPE 2, LLC (collectively, the “iQor SPE Debtors”) filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code.2 The Debtors are operating their businesses and managing their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code.

  • On September 10, 2020 (the “ Petition Date”), each of the Debtors other than iQor Receivables SPE LLC and iQor Receivables SPE 2, LLC (collectively, the “iQor SPE Debtors”) filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code.9 On the Petition Date, the Debtors filed with the Court, among other papers, the Plan, the Disclosure Statement, 7 For additional discussion about, and certification of, the solicitation and vote tabulation processes, see the Voting Report.

  • Certain of our European subsidiaries and Australian subsidiaries have entered into the Securitization Facility and the Australian Receivables Facility, respectively, under which they contribute or sell substantially all of their trade accounts receivable as they are originated to the Securitization Receivables SPE or Australian SPE, as applicable.

  • On September 10, 2020 (the “ Petition Date”), each of the Debtors other than iQor Receivables SPE LLC and iQor Receivables SPE 2, LLC (collectively, the “iQor SPE Debtors”) filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code.4 The Debtors are operating their businesses and managing their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code.

  • The obligations of the Securitization Receivables SPE and Australian SPE are secured on a first-priority basis by all currently owned and subsequently acquired assets of the Securitization Receivables SPE or Australian SPE, respectively, including, but not limited to, all of the receivables transferred to it.


More Definitions of Receivables SPE

Receivables SPE means Basic Energy Receivables, LLC, a Delaware limited liability company.
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Receivables SPE means (a) any Receivables Entity, (b) any other Person (i) formed solely for the purposes of engaging in a Permitted Receivables Financing (together with any activities incidental or related thereto) or (ii) which issues asset-backed commercial paper and uses the proceeds thereof to purchase Receivables or make funds available secured by Receivables.
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Related to Receivables SPE

  • Receivables Entity means a wholly-owned Subsidiary of the Company, including Constellation Brands Sales Finance LLC and Crown Sales Finance LLC, which engages in no activities other than in connection with the financing of Receivables of the Receivables Sellers and which is designated (as provided below) as a “Receivables Entity” (a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Company or any other Subsidiary of the Company (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness)) pursuant to Standard Securitization Undertakings, (ii) is recourse to or obligates the Company or any other Subsidiary of the Company in any way (other than pursuant to Standard Securitization Undertakings) or (iii) subjects any property or asset of the Company or any other Subsidiary of the Company, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings, (b) with which neither the Company nor any of its Subsidiaries has any contract, agreement, arrangement or understanding (other than pursuant to the Permitted Receivables Facility Documents (including with respect to fees payable in the ordinary course of business in connection with the servicing of accounts receivable and related assets)) on terms less favorable to the Company or such Subsidiary than those that might be obtained at the time from persons that are not Affiliates of the Company (as determined by the Company in good faith), and (c) to which neither the Company nor any other Subsidiary of the Borrower has any obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of operating results. Any such designation shall be evidenced to the Administrative Agent by filing with the Administrative Agent an officer’s certificate of the Company certifying that, to the best of such officer’s knowledge and belief after consultation with counsel, such designation complied with the foregoing conditions.

  • Receivables Subsidiary means any Subsidiary formed for the purpose of, and that solely engages only in one or more Receivables Facilities and other activities reasonably related thereto.

  • Receivables Financing means any transaction or series of transactions that may be entered into by the Issuer or any of its Subsidiaries pursuant to which the Issuer or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Receivables Subsidiary (in the case of a transfer by the Issuer or any of its Subsidiaries); and (b) any other Person (in the case of a transfer by a Receivables Subsidiary), or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of the Issuer or any of its Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable and any Hedging Obligations entered into by the Issuer or any such Subsidiary in connection with such accounts receivable.

  • Receivables Fees means distributions or payments made directly or by means of discounts with respect to any accounts receivable or participation interest therein issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility.

  • Qualified Receivables Financing means any Receivables Financing of a Receivables Subsidiary that meets the following conditions:

  • Permitted Receivables Financing means any one or more receivables financings in which (a) any Loan Party or any Restricted Subsidiary (i) sells (as determined in accordance with GAAP) any accounts (as defined in the Uniform Commercial Code as in effect in the State of New York), payment intangibles (as defined in the Uniform Commercial Code as in effect in the State of New York), notes receivable, rights to future lease payments or residuals (collectively, together with certain property relating thereto and the right to collections thereon, being the “Transferred Assets”) to any Person that is not a Subsidiary or Affiliate of the Borrower (with respect to any such transaction, the “Receivables Financier”), (ii) borrows from such Receivables Financier and secures such borrowings by a pledge of such Transferred Assets and/or (iii) otherwise finances its acquisition of such Transferred Assets and, in connection therewith, conveys an interest in such Transferred Assets to the Receivables Financier or (b) any Loan Party or any Restricted Subsidiary sells, conveys or otherwise contributes any Transferred Assets to a Receivables Financing SPC, which Receivables Financing SPC then (i) sells (as determined in accordance with GAAP) any such Transferred Assets (or an interest therein) to any Receivables Financier, (ii) borrows from such Receivables Financier and secures such borrowings by a pledge of such Transferred Assets or (iii) otherwise finances its acquisition of such Transferred Assets and, in connection therewith, conveys an interest in such Transferred Assets to the Receivables Financier; provided that (A) the aggregate Attributed Principal Amount for all such financings shall not at any time exceed $600,000,000 and (B) such financings shall not involve any recourse to any Loan Party or any Restricted Subsidiary for any reason other than (x) repurchases of non-eligible assets or (y) indemnifications for losses other than credit losses related to the Transferred Assets.

  • Qualified Receivables Transaction means any transaction or series of transactions that may be entered into by the Company or any of its Subsidiaries pursuant to which the Company or any of its Subsidiaries may sell, convey or otherwise transfer to: