A/R Purchase definition

A/R Purchase means the repurchase by Holdings, Parent Borrower and any Subsidiary of all the uncollected accounts receivable generated by any of them which had been sold to MTSPC, Inc. pursuant to the terms of the Metaldyne receivables financing, as of the Effective Date, in accordance with the terms of the relevant documentation with MTSPC, Inc. and the other parties to the receivables financing documentation to which MTSPC, Inc. is a party, as amended through the Effective Date.
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A/R Purchase means the purchase by Borrower, fully and in cash, upon the entry of the Interim Order, of the Purchased Facility Assets from ▇▇▇▇▇▇ Receivables under the condition that ▇▇▇▇▇▇ Receivables use the proceeds thereof to pay finally, fully and in cash, all obligations (other than the Surviving A/R Obligations) of ▇▇▇▇▇▇ Receivables under the A/R Securitization Facility, such that the Purchased Facility Assets shall be, on account of such final and full payment in cash, free and clear of any and all Liens, claims, encumbrances and/or interests (other than the Surviving A/R Obligations), and shall become the property of the Borrower.
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Examples of A/R Purchase in a sentence

  • All payments of principal of the Class A-R Notes otherwise payable to such Holder shall be deposited in such Class A-R Holder Subaccount to the extent provided in the Class A-R Purchase Agreement.

  • Pursuant to the Class A-R Purchase Agreement, on each Payment Date and at any time promptly following a request therefor by the Collateral Manager or the Trustee, the Class A-R Agent shall provide the Collateral Manager and the Trustee with a report specifying the aggregate principal amount of Advances outstanding in respect of each Class A-R Note and the Class A-R Commitment of the related Holder (as of such Payment Date).

  • The only permitted withdrawal from or application of funds credited to a Class A-R Holder Subaccount shall, notwithstanding the occurrence of any Event of Default, be to satisfy such Holder’s obligations under the Class A-R Purchase Agreement, as specified in this Section 9.9 and to return such amounts to such Holder in accordance with Section 9.9(d).

  • Each of the Collateral Manager and the Issuer shall take such other actions, and furnish such certificates, opinions and other documents, as may be reasonably requested by the other party hereto in order to effectuate the purposes of this Agreement and to facilitate compliance with applicable laws and regulations and the terms of this Agreement, the Indenture, the Class A-R Purchase Agreement and the Master Loan Sale Agreement.

  • Buyer and Seller agree that, effective upon the execution and delivery of this Agreement by each such party, the terms and provisions of the Existing A/R Purchase Agreement shall be and hereby are amended, restated and superseded in their entirety by the terms and provisions of this Agreement.

  • Specifically, all warranties, representations and covenants made by Seller in this ARPA shall be deemed reaffirmed by Seller upon execution and delivery of each AR Purchase Certificate.

  • Purchaser may rely on any facsimile, electronic mail or telephone request for the transmission of the AR Purchase Certificate and request for funds given by a person whom Purchaser believes, in its discretion, to be an authorized representative of Seller, and Seller will indemnify Purchaser for any loss Purchaser suffers as a result of that reliance.

  • The Origination Fee, which may be deducted from the Purchase Price payable by Purchaser on those Accounts identified in the first AR Purchase Certificate.

  • Except as expressly modified pursuant to this Modification Agreement, the terms of the Existing A/R Purchase Documents remain unchanged and in full force and effect.

  • The Collateral Manager shall have full power and authority to withdraw funds (with notice of any such withdrawal to the Class A-R Agent) from each such Class A-R Holder Subaccount at the time of, and in connection with, the making of any such Draw and to deposit funds (with notice of any such deposit to the Class A-R Agent) into each such Class A-R Holder Subaccount, all in accordance with the terms of and for the purposes set forth in this Indenture and the Class A-R Purchase Agreement.