Vendor Lien Program definition

Vendor Lien Program means the program initiated by the Company in connection with the Restructuring under which the Company is offering vendors the ability to obtain a junior secured lien on substantially all of the assets of the Company in return for making shipments after July 1, 2003 on customary terms.
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Vendor Lien Program means the program and documents pursuant to which one or more vendors of the Loan Parties agreed to defer the payment of trade accounts payable owing by the Loan Parties for merchandise purchased or memo goods sold prior to July 31, 2004 and past due as of such date, as such program may now or hereafter be amended, supplemented or otherwise modified to the extent expressly permitted by this Agreement.
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Examples of Vendor Lien Program in a sentence

  • The Debtors thus decided to implement the Vendor Lien Program to rectify this situation, as allowed by the June 2003 Forbearance.

  • Accordingly, Kmart prepared and sought approval of a trade vendor lien program (the "Trade Vendor Lien Program") pursuant to which Kmart would grant to certain approved trade creditors ("Approved Trade Creditors") liens on Kmart's merchandise junior to the liens of the lenders under the DIP Facility on the same merchandise.

  • LAKE COUNTY’S RESPONSE BRIEF TO MOTION TO DISMISS LAKE COUNTY BOARD OF LAKE COUNTY’S AMENDED COMMISSIONERS; AND LORI COUNTERCLAIM LUNDEEN, Defendants.

  • The Prepetition Lenders recognized the significance of the Debtors maintaining established relationships with existing vendors and suppliers and agreed to permit the Debtors to grant certain vendors a second-priority security interest in connection with the Vendor Lien Program.

  • Under the Security Agreement, Aurora granted to the Collateral Agent a second-priority security interest (the "Vendor Lien") in substantially all of Aurora's personal property for the benefit of the participants in the Vendor Lien Program.

  • Under the Vendor Lien Program, the Vendor Lien was granted to those vendors who agreed to do business with the Debtors on agreed upon terms.

  • In order to implement the Vendor Lien Program, Aurora entered into a security agreement (the "Security Agreement"), dated as of July 11, 2003, with the Collateral Agent.

  • The Trade Vendor Lien Program was approved by the Bankruptcy Court on March 6, 2002.

  • These assessments are as mentioned in the Report of the World Commission on Dams (2000, pp.

  • As of March 22, 2002, approximately 841 of Kmart's vendors applied for the Trade Vendor Lien Program, of which 747 have been approved.

Related to Vendor Lien Program

  • Federal work authorization program means any of the electronic verification of work authorization programs operated by the United States Department of Homeland Security or any equivalent federal work authorization program operated by the United States Department of Homeland Security to verify information of newly hired employees, pursuant to the Immigration Reform and Control Act of 1986 (IRCA), D.L. 99-603.

  • CRAF Program means the Civil Reserve Air Fleet Program authorized under 10 U.S.C. Section 9511 et seq. or any similar or substitute program under the laws of the United States.

  • Acid Rain Program means the sulfur dioxide and nitrogen oxides air pollution control program established pursuant to Title IV of the Act under 40 CFR Parts 72-78.

  • Collaborative pharmacy practice agreement means a written and signed

  • Manufacturing Facility means buildings and structures, including machinery and equipment, the primary purpose of which is or will be the manufacture of tangible goods or materials or the processing of such goods or materials by physical or chemical change.

  • terrorist financing means terrorist financing as defined in Article 1(5) of Directive (EU) 2015/849;

  • Borrower Products means all products, software, service offerings, technical data or technology currently being designed, manufactured or sold by Borrower or which Borrower intends to sell, license, or distribute in the future including any products or service offerings under development, collectively, together with all products, software, service offerings, technical data or technology that have been sold, licensed or distributed by Borrower since its incorporation.

  • Guide dog means a guide dog as defined in section 1 of the Blind Persons’ Rights Act

  • Related Party Contract has the meaning set forth in Section 3.25.

  • Seller Products means all products and services that are being manufactured or performed by Seller at any time, other than Logic Business Products that are being manufactured or performed by Seller as of the Closing Date.

  • AML Program has the meaning ascribed thereto in Schedule 2.1(F)(8) hereof.

  • Procurement Plan means the Recipient’s procurement plan for the Project, dated April 2, 2010, and referred to in paragraph 1.16 of the Procurement Guidelines and paragraph 1.24 of the Consultant Guidelines, as the same shall be updated from time to time in accordance with the provisions of said paragraphs.

  • Medical flexible spending arrangement or "medical FSA" means a benefit plan whereby eligible state employees may reduce their salary before taxes to pay for medical expenses not reimbursed by insurance as provided in the salary reduction plan established under chapter

  • PACE Program means a program implemented by a municipality to stimulate energy efficiency and renewable energy projects in conformity with Act 270.

  • Optional Extended Local Calling Scope Arrangement Traffic is traffic that under an optional Extended Local Calling Scope Arrangement chosen by the Customer terminates outside of the Customer’s basic exchange serving area.

  • Product Conditions means these product terms and conditions. These Product Conditions apply to each series of cash settled Warrants over single equities;

  • Approved Vendor List means a list of approved vendors established under Section 63G-6a-507.

  • CERC Manual means the manual referred to in Section I.F of Schedule 2 to this Agreement, as such manual may be updated from time to time with the agreement of the Association, and which is an integral part of the Operational Manual.

  • Collateral source shall have the meaning set forth in Section 8.5.

  • Business Case means the written reasoning behind the initiation of a Procurement Project, prepared in the form set out in Part 1 of the Procurement Project Plan at Appendix A of the Procurement Project Planning Protocol.

  • Managed Care Plans means all health maintenance organizations, preferred provider organizations, individual practice associations, competitive medical plans and similar arrangements.

  • Manufacturing Facilities means facilities engaged in the mechanical or chemical transformation of materials or substances into new products and shall include:

  • Prewritten program means a computer program that is prepared, held or existing for general or

  • Foster care placement means placement of a child through (i) an agreement between the parents or

  • Dependent care assistance program or "DCAP" means a benefit plan whereby school employees may pay for certain employment related dependent care with pretax dollars as provided in the salary reduction plan under chapter 41.05 RCW pursuant to 26 U.S.C. Sec. 129 or other sections of the Internal Revenue Code.

  • Program Obligations means (1) all applicable statutes and any regulations issued by the Secretary pursuant thereto that apply to the Project, including all amendments to such statutes and regulations, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and (2) all current requirements in HUD handbooks and guides, notices, and mortgagee letters that apply to the Project, and all future updates, changes and amendments thereto, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and provided that such future updates, changes and amendments shall be applicable to the Project only to the extent that they interpret, clarify and implement terms in this Agreement rather than add or delete provisions from such document. Handbooks, guides, notices, and mortgagee letters are available on HUD's official website: (xxxx://xxx.xxx.xxx/offices/adm/hudclips/index.cfm or a successor location to that site)).