Special Purpose Finance Subsidiary means any Subsidiary of the Company created solely for the purposes of, and whose sole activity shall consist of, acquiring and financing accounts receivable of the Company and its Subsidiaries pursuant to a Permitted Securitization Facility.
Special Purpose Finance Subsidiary means any Subsidiary of the Borrower created solely for the purpose of, and whose sole activity shall consist of, acquiring and financing accounts receivable of the Borrower and its Subsidiaries pursuant to a Permitted Securitization Facility.
Special Purpose Finance Subsidiary a special purpose entity organized under the laws of any state of the United States of America that is formed by the Company or any of its Subsidiaries for the purpose of incurring Indebtedness the proceeds of which will be placed in escrow, pending the use of such proceeds, to effect transactions that at the time such proceeds are released from escrow are permitted hereunder.
Examples of Special Purpose Finance Subsidiary in a sentence
Permit any Special Purpose Finance Subsidiary to engage in any business or activity other than (i) maintaining its corporate existence, (ii) the incurrence of Indebtedness the proceeds of which will be placed in escrow pending the use of such proceeds to effect transactions that, at the time such proceeds are released from escrow, are permitted hereunder, and (iii) activities incidental, ancillary or reasonably related to the businesses or activities described in clauses (i) and (ii) of this Section 7.17.
The term “Subsidiary” shall not include any Special Purpose Finance Subsidiary for purposes of Section 7.1 only for so long as the proceeds of the Indebtedness incurred by such Special Purpose Finance Subsidiary are held in escrow.
More Definitions of Special Purpose Finance Subsidiary
Special Purpose Finance Subsidiary means a special purpose entity organized under the laws of any state of the United States that is formed by Holdings or any of its Subsidiaries for the purpose of incurring Indebtedness the proceeds of which will be placed in escrow, pending the use of such proceeds, to effect transactions that at the time such proceeds are released from escrow are permitted hereunder (or that will result in a payment in full of the Revolving Facility hereunder).
Special Purpose Finance Subsidiary means any Subsidiary of the Parent created solely for the purposes of, and whose sole activity shall consist of, acquiring and financing accounts receivable of the Parent and its Subsidiaries pursuant to a Permitted Securitization Facility.
Special Purpose Finance Subsidiary has the meaning set forth in the Amended Tech Data Credit Agreement, without giving effect to any waiver, amendment or modification of the Amended Tech Data Credit Agreement unless the Consent Requirement has been satisfied.
Special Purpose Finance Subsidiary means a Subsidiary of FME established for the exclusive purpose of issuing Indebtedness the proceeds from which are distributed, directly or indirectly, to FME or one or more of its Subsidiaries and which itself has no Subsidiaries and no operations or material assets other than cash, cash equivalents, intercompany receivables and other assets relating to its financing activities.
Special Purpose Finance Subsidiary means any Subsidiary of WFS created solely for the purposes of, and whose sole activity shall consist of, acquiring and financing accounts receivable of WFS and its Subsidiaries pursuant to a Permitted Receivables Facility.
Special Purpose Finance Subsidiary means any Wholly-Owned Subsidiary of the U.S. Borrower (i) formed solely for the purpose of incurring Indebtedness the proceeds of which will be used to provide financing to the U.S. Borrower or other Subsidiaries of the U.S. Borrower and (ii) which engages in no business or operations (other than activities directly related and limited to the incurrence and servicing of Indebtedness and its maintenance of existence, including without limitation the investment, advance, dividend, distribution or other transfer of such proceeds of such Indebtedness (including without limitation any right to receive repayment from any parent or affiliated company), and the opening of deposit, securities or other accounts) and does not own any assets (including, for the avoidance of doubt, any Subsidiary) (other than proceeds of Indebtedness and any related repayment rights from any parent or affiliated company, any rights it may have under the documents governing such Indebtedness directly related and limited to the incurrence or servicing of such Indebtedness (but, for the avoidance of doubt, not including any operating assets), any deposit, securities or other accounts, and any rights under any Swap Agreement and any proceeds thereof) or have any liabilities (other than the incurrence of Indebtedness, any obligations it may have under the documents governing such Indebtedness directly related and limited to the incurrence or servicing of such Indebtedness, any obligations with respect to any deposit, securities or other accounts, any obligations under any Swap Agreement, and any obligations arising from the maintenance of such Subsidiary’s existence). For the avoidance of doubt, the Ireland Borrower is a Special Purpose Finance Subsidiary.
Special Purpose Finance Subsidiary means a Subsidiary organized exclusively to be the issuer or co-issuer of Indebtedness that engages in no other business activity and owns no assets.