Repatriated Funds definition
Examples of Repatriated Funds in a sentence
Notwithstanding anything to the contrary herein, the foregoing shall not apply to any funds received or receivable by Borrower or any Subsidiary from any Foreign Subsidiary or Foreign Subsidiary Holding Company as a result of the repatriation of funds between such entities (the “Repatriated Funds”) and such Repatriated Funds shall not, at any time, constitute Pledged Collateral.
Notwithstanding anything to the contrary herein, the foregoing Section 4.6(d) shall not apply to any Repatriated Funds received or receivable by Borrower or any Subsidiary from any Foreign Subsidiary or Foreign Subsidiary Holding Company and all rights to receive Repatriated Funds shall remain with Borrower or the applicable Subsidiary, as the case may be, so long as no Event of Default has occurred and is continuing.
It is expressly agreed that the amount of $4,256,668.78 out of the Repatriated Funds and the amount transferred by Buyer under this Section 5.5 will be transferred to the Buyer Designated Trust/Escrow Accounts as directed by the State of Michigan.