Receivables Transactions definition

Receivables Transactions means, collectively, (i) the creation of Receivables Corp. to purchase accounts receivable generated by and owed to certain Subsidiaries of the Borrower, (ii) the entry by Receivables Corp. into one or more receivables purchase agreements with Receivables Purchasers, pursuant to which each Receivables Purchaser will, from time to time, purchase from Receivables Corp. undivided interests in the receivables described in clause (i), and (iii) the entry by Receivables Corp. into such ancillary agreements, documents and instruments as are necessary or advisable in connection with such receivables purchase agreements, provided that (x) the outstanding principal amount of the financing provided by all Receivables Purchasers pursuant to such receivables purchase agreements shall not exceed $150,000,000 in the aggregate at any time and (y) the primary structural terms of each such receivables purchase agreement, including without limitation the amount of any recourse to the Borrower or any of its Subsidiaries for uncollectible receivables, shall be reasonably satisfactory to the Agent in each case.
View Source
Receivables Transactions means (a) the Exempt Receivables Transactions and (b) any transaction providing for the sale or financing of accounts receivable of Holdings or any of the Restricted Subsidiaries having limited recourse based on the collectability of the accounts receivable sold or financed, with any such sales or financing in the case of the preceding clause (b) being on customary terms.
View Source
Receivables Transactions means, collectively, (i) the creation of Receivables Corp. to purchase accounts receivable generated by and owed to certain Subsidiaries of the Borrower, (ii)
View Source

Examples of Receivables Transactions in a sentence

  • Create, issue, incur, assume, become liable in respect of or suffer to exist any Indebtedness pursuant to any Receivables Transaction, except for Indebtedness pursuant to all Receivables Transactions in an aggregate principal amount not exceeding 20% of Consolidated Tangible Assets.

  • This response represents Our legal offer to You to contract with Us to enter Receivables Transactions.

  • The response to Your request may provide applicable exchange rates for each currency entered and shall confirm (to the best of Our knowledge but subject always to Clause 5 of this Schedule) Our ability to process the Receivables Transactions.

  • Mass Uploads allows You to request multiple Receivables Transactions on a single file.

  • The sum, without duplication, of all (1) Indebtedness of the Borrower on a consolidated basis under subsections (a) through (h) of the definition of “Indebtedness” (provided, however, that Indebtedness with respect to Permitted Receivables Transactions shall not be included in such calculation), plus (2) non-contingent reimbursement obligations of the Borrower and its Subsidiaries with respect to drawings under any letters of credit.

  • Any one or more direct or indirect wholly-owned Subsidiaries of the Parent formed for the sole purpose of engaging in Permitted Receivables Transactions, and which engage in no business activities other than those related to Permitted Receivables Transactions.

  • Consolidated Debt arising in connection with any Receivables Transactions shall not exceed $100,000,000 in the aggregate.

  • In the event that no Future Receivables Transactions occur, the portion of the Aggregate Deferred Purchase Price payable in connection with the sale of the Purchased Receivable under this Agreement (the “Deferred Purchase Price”) shall be as set forth below in subclause (ii).

  • In the event that Net Cash Proceeds received by the Borrowers from asset sales exceed $50,000,000 per annum (other than in connection with Permitted Receivables Transactions and the sale, lease, license or other disposition of assets in the ordinary course of business and with respect to asset swaps permitted under 8.4), the Borrowers will use one-hundred percent (100%) of any such Net Cash Proceeds in excess of $50,000,000 to pay down the Loans in the manner set forth in 4.4.2.

  • Nothing in this Section 7.4 shall prohibit the creation by the Borrower and its Material Subsidiaries of Receivables Subsidiaries or the creation by Receivables Subsidiaries of Special Purpose Vehicles, in each case solely in connection with Qualified Receivables Transactions permitted under clause (iv) of Section 7.5.


More Definitions of Receivables Transactions

Receivables Transactions has the meaning set forth in the Recitals to this Agreement.
View Source
Receivables Transactions means, collectively, (i) the creation of Receivables Corp. to purchase accounts receivable generated by and owed to certain Subsidiaries of the Borrower, (ii) the entry by Receivables Corp. into one or more receivables purchase agreements with Receivables Purchasers, pursuant to which each Receivables Purchaser will, from time to time, purchase from Receivables Corp. undivided interests in the receivables described in clause (i), and (iii) the entry by Receivables Corp. into such ancillary agreements, documents and instruments as are necessary or advisable in connection with such receivables purchase agreements, provided that (x) the outstanding principal amount of the financing provided by all Receivables Purchasers pursuant to such receivables purchase agreements shall not exceed
View Source