VAT Receivables definition

VAT Receivables in relation to each FleetCo means, at the time of calculation and in relation to each VAT Week of that FleetCo, the aggregate on the Friday of the immediately preceding VAT Week of amounts:

VAT Receivables means in relation to Dutch FleetCo, Spanish Branch and French FleetCo, the aggregate of all VAT repayments owed by the Spanish Tax Authority to Dutch FleetCo, Spanish Branch and the French Tax Authority to French FleetCo, respectively, in respect of which evidence satisfactory to the Transaction Agent (acting reasonably) has been received that such VAT repayment is owed to Dutch FleetCo, Spanish Branch or French FleetCo, as applicable, but excluding any VAT repayment in respect of which security in form and substance acceptable to the FleetCo Security Agent and the Transaction Agent has not been provided to the Transaction Agent and the FleetCo Security Agent in accordance with the Security Documents.

VAT Receivables with respect to any Person, the net position of VAT receivables (less VAT payables) such Person is entitled to credit or repayment from the relevant tax authority.

Examples of VAT Receivables in a sentence

• This includes the netted off figure of VAT Receivables in respects of various taxable purchases made by the company with the VAT Payable in respects of insurance policy premium collected by the company.

• We may apply payments made to us (whether by you or otherwise) firstly to pay any Credit Charges owing under this Agreement and then the amount owing in respect of each Supplier Obligation, and/or the Repurchase of IBM Reimbursables, IBM Receivables and VAT Receivables.

• Whilst the Loan Parties may ask us to cease collection activities against any Debtor and we will do so upon receiving payment of the relevant IBM Reimbursables, IBM Receivables and VAT Receivables or upon such terms as we shall agree with the applicable Loan Party we have the right to refuse or to accept such Loan Party's request.

• If required by us, for each Receivable, Acquired Receivable and VAT Receivable, the Loan Parties will give written notice to the Debtor concerned that we are the owner of the Receivable, Acquired Receivable or VAT Receivable, as applicable, and that payment of Receivables, Acquired Receivables and VAT Receivables, as applicable, must be made to us directly.

• The Loan Parties will promptly when required by us complete any forms of assignment, documents or other instruments necessary to ensure the transfer of full ownership of the IBM Reimbursables, IBM Receivables and VAT Receivables to us or to enable us to collect the IBM Reimbursables, IBM Receivables and VAT Receivables.

More Definitions of VAT Receivables

VAT Receivables means, in relation to any Ultimate Borrower, and at any time as long as the Borrower Vehicle Fleet NBV taken into account for the calculation of the Borrower Asset Value of such Ultimate Borrower is positive, the aggregate of all VAT repayments owed by a taxation authority to such Ultimate Borrower in its Core Country at such time and in respect of which evidence satisfactory to the Facility Agent (acting reasonably) has been received that such VAT repayment is owed to the relevant Ultimate Borrower, but excluding any VAT repayment in respect of which security in form and substance acceptable to the Security Agent has not been provided to the Security Agent in accordance with the Security Documents;

VAT Receivables means accounts receivable representing refunds owed by Governmental Authorities to any Subsidiary for value added taxes paid by or in respect of such Subsidiary in prior periods.

VAT Receivables means, with respect to any Person, the net position of VAT receivables (less VAT payables) such Person is entitled to credit or repayment from the relevant tax authority.

VAT Receivables means on any date all amounts that the Borrower is entitled to receive from the government of Mexico as a refund of value added taxes (impuesto al valor agregado).

VAT Receivables means a payment obligation of the Country of the Netherlands or Belgium pursuant to an invoice raised to the respective country for valid reimbursement of VAT paid by BSDE or SDSA to the Country of the Netherlands or Belgium (1) for products purchased from IBM or one of its subsidiaries and which products were sold by BSDE to customers outside the Country of the Netherlands or (2) by SDSA to customers outside the Belgium, (3) for products sold by BSDE to SDSA and (4) for products supplied by IBM Singapore to SDSA, subject to the limitation specified in the Schedule;

VAT Receivables means, in relation to any Ultimate Borrower, and at any time as long as the Borrower Vehicle Fleet NBV taken into account for the calculation of the Borrower Asset Value of such Ultimate Borrower is positive, the aggregate of all VAT repayments owed by the relevant taxation authority to such Ultimate Borrower at such time and in respect of which evidence satisfactory to the Facility Agent (acting reasonably) has been received that such VAT repayment is owed to the relevant Ultimate Borrower, but excluding any VAT repayment in respect of which security in form and substance acceptable to the Security Agent has not been provided to the Security Agent in accordance with the Security Documents;

VAT Receivables means any the Pledgor’s receivables (vorderingen) and any other rights against the Tax Inspector.