Receivables Financing Sample Clauses

Receivables Financing. Notwithstanding any other provision hereof regarding the creation of Liens, Lessee shall also be permitted to grant a prior security interest in Receivables (with the Lessor retaining a junior security interest therein) to an institutional lender which is providing a working capital line of credit (a "Working Capital Loan") for the exclusive use of Guarantor, Lessee and Affiliates of Lessee as long as such Lender enters into an intercreditor agreement with, and satisfactory to, Lessor pursuant to which, without limiting the foregoing, (1) Lessor shall be provided with notice with respect to defaults under the Working Capital Loan simultaneously with the delivery of such notice to Lessee and shall be afforded the option of curing defaults thereunder, (2) such lender's use of Instruments, Documents, General Intangibles and Chattel Paper shall be limited to a license only for the purpose of collecting Receivables and (3) the subordination of Lessor's interest in the Receivables shall be of no force and effect and Lessor's first priority security interest shall be reinstated from and after the occurrence of an Event of Default if, upon or following such Event of Default, Lessor either exercises any of its remedies set forth in Article 16 or Lessor notifies in writing such lender of Lessor's intention to invoke its right to reinstate its first priority security interest in the Receivables.
AutoNDA by SimpleDocs
Receivables Financing. The Borrower shall not, and shall not permit its Domestic Subsidiaries to, Transfer, factor, securitize, or discount Receivables in connection with Receivables Financings, the aggregate principal amount of which exceeds $500,000,000 at any one time outstanding.
Receivables Financing. The Borrower shall not, and shall not permit its Subsidiaries to, Transfer, factor, securitize, or discount Receivables or letters of credit in connection with Receivables Financings, the aggregate principal amount of which exceeds $300,000,000 at any one time outstanding; provided, however, that the Transfer, factoring, securitization, or discounting of Receivables or such letters of credit, including the Transfer of notes, drafts, bonds, debentures or other similar instruments, by non-United States Persons which are Transferred, factored, securitized, or discounted in the ordinary course of business shall be permitted.
Receivables Financing. The exclusive right to purchase, hypothecate or otherwise finance all timeshare sales, club membership sales, receivables generated, originated or otherwise owned by the ILX Entities, or any of them, or their successors, assigns, or any of their affiliated entities and originated at The Greens of Las Vegas Golf Center. Provided, however, that the foregoing provisions shall not require Lender to provide any such financing, and any such financing shall be evidenced only by subsequent written agreement between the parties, and shall be subject to the approval of Lender and its Credit Committee, in their sole discretion. And, provided further, that if Lender acknowledges in writing that Lender is unable or unwilling to provide the above-described financing, ILX may obtain said financing from other sources.
Receivables Financing. Vistana Parent and its Subsidiaries may enter into financing arrangements from time to time with one or more lenders or other financing parties where (a) Vistana Parent or such Subsidiary incur Indebtedness with such lender or financing party not otherwise permitted under the Credit Agreement, (b) such Indebtedness is secured by a pledge, mortgage or other Lien by Vistana Parent or its Subsidiaries of their respective interests in Timeshare Purchase Money Notes and (c) the Indebtedness incurred does not exceed the then outstanding principal balance of such Timeshare Purchase Money Notes (all of the foregoing being collectively referred to as "Receivables Financing"); provided that, if any Receivables Financing permitted to be outstanding at any time pursuant to this paragraph 3 shall be or become, in whole or in part, Recourse Indebtedness of the Corporation or any of its Subsidiaries (other than Vistana Parent and its Subsidiaries), then the Recourse Basket shall be reduced from time to time by the amount of such Recourse Indebtedness, and such Recourse Indebtedness shall be permitted only if the Recourse Basket would not be reduced below $0.
Receivables Financing. Not, and not permit any of its Subsidiaries to, sell, transfer, convey, assign or otherwise dispose of, with or without recourse, any Receivables of any kind; PROVIDED, HOWEVER, the foregoing restriction will not prohibit the sale of Receivables of the Borrower and its Subsidiaries so long as (a) such Receivables are sold pursuant to a Receivables Financing for no less than 80% of face value and (b) the aggregate outstanding amount of Receivables so sold at no time exceeds $75,000,000.
Receivables Financing. As of the Closing Date, there is no --------------------- default or event of default under any of the Receivables Documents and as of the Closing Date, the amount due and owing (including, all principal advanced and interest accrued thereon) by the Initial Operator under the Receivables Financing is $896,162.42 as of October 22, 1997.
AutoNDA by SimpleDocs
Receivables Financing. Prior to the Closing, Seller shall terminate any receivables financing arrangement to the extent relating to receivables of an Acquired Company so that, as of Closing, the receivables (other than non-trade intercompany receivables) of the Acquired Companies shall be free and clear of any Encumbrances arising as a result of any receivables financing arrangement and shall be receivables of the Warner Businesses.
Receivables Financing. 1. Amended and Restated Receivables Purchase Agreement, dated as of April 30, 2007, by and among CNX Funding Corporation, as seller (the “Seller”), CONSOL Energy Inc. as initial servicer (the “Initial Servicer”), the sub-servicers party thereto (the “Sub-Servicers”), the conduit purchasers party thereto (the “Conduit Purchasers”), the purchaser agents party thereto (the “Purchaser Agents”), the “LC Participants” party thereto (the “LC Participants”) and PNC Bank, National Association, as administrator for the Conduit Purchasers (the “Administrator”) and as issuer of letters of credit (the “LC Bank”).
Receivables Financing. The Company shall provide any assistance reasonably requested by the Investors in the event they seek to obtain for New GX new revolving receivables financing in a principal amount of not less than $150 million on terms and conditions reasonably acceptable to each Investor, which financing shall be (i) fully available and undrawn as of the Closing, and available for immediate draw down after the Closing and (ii) secured only by a first priority security lien on the accounts receivables of New GX and its Subsidiaries with no more than twice the principal amount provided for under the agreement. For the avoidance of doubt, neither the Investors, the Company nor New GX shall be required to obtain any such financing.
Time is Money Join Law Insider Premium to draft better contracts faster.