Accounts Receivable Securitization definition

Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Borrower in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Borrower or any Affiliate of the Borrower (other than any such SPE) except to the extent of the breach of a representation or warranty by the Borrower in connection therewith or (b) any negative pledge or Lien on any accounts receivable or other assets not actually transferred to any such SPE in connection with such arrangement.

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Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Partnership and its Restricted Subsidiaries in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Partnership and its Restricted Subsidiaries or any Affiliate of the Partnership and its Restricted Subsidiaries (other than any such SPE) except to the extent of the breach of a representation or warranty by the Partnership and its Restricted Subsidiaries in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement.

Accounts Receivable Securitization means a financing arrangement entered into prior to the Distribution by ▇▇▇▇▇▇▇▇ 66 Company, and approved by ConocoPhillips, involving the transfer or sale of accounts receivable of ▇▇▇▇▇▇▇▇ 66 Company or any member of the ▇▇▇▇▇▇▇▇ 66 Group.

Examples of Accounts Receivable Securitization in a sentence

No Unrestricted Subsidiary may be a Participating Subsidiary in a Permitted Accounts Receivable Securitization.
For the avoidance of doubt, accounts receivable included in the Pro Forma Working Capital Calculation assumes the Accounts Receivable Securitization Facility has been unwound, pursuant to Section 7.1(d).
For purposes of calculating the Closing Account, any accounts receivable relating to balances included in the Accounts Receivable Securitization Facility at Closing will be excluded from accounts receivable.
The Lenders authorize the Agent to confirm in writing (in the form of a release or otherwise, as the Agent may determine) that the GECC Equipment and the proceeds thereof do not constitute Collateral and to release the Agent's Lien on the Mail-Well ESOP Loan Documents, the Equipment Lease Facility Equipment and, concurrently with each transfer of such Receivables to MTRC in accordance with the terms and provisions of the Accounts Receivable Securitization Facility Documents, the Receivables.
Any event (after the expiration of any applicable grace periods) as specified in the Receivables Documents for any Permitted Accounts Receivable Securitization shall entitle the Persons (other than a Receivable Subsidiary) financing Accounts Receivables pursuant to a Permitted Accounts Receivable Securitization to terminate or permanently cease funding the financing of Accounts Receivable pursuant to such Permitted Accounts Receivable Securitization.

More Definitions of Accounts Receivable Securitization

Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Borrower and its Subsidiaries in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Borrower and its Subsidiaries or any Affiliate of the Borrower and its Subsidiaries (other than any such SPE) except to the extent of the breach of a representation or warranty by the Borrower and its Subsidiaries in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement.

Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of the Borrower and its Restricted Subsidiaries in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon the Borrower and its Restricted Subsidiaries or any Affiliate of the Borrower and its Restricted Subsidiaries (other than any such SPE) except to the extent of the breach of a representation or warranty by the Borrower and its Restricted Subsidiaries in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement; provided that the aggregate amount of accounts receivable that may be securitized in all Accounts Receivable Securitizations at any one time may not exceed $100,000,000.

Accounts Receivable Securitization means a financing arrangement involving the transfer or sale of accounts receivable of Lessee in the ordinary course of business through one or more SPEs, the terms of which arrangement do not impose (a) any recourse or repurchase obligations upon Lessee or any Affiliate of Lessee (other than any such SPE) except to the extent of the breach of a representation or warranty by Lessee in connection therewith or (b) any negative pledge or Lien on any accounts receivable not actually transferred to any such SPE in connection with such arrangement.

Accounts Receivable Securitization. The trade receivables purchase facility between the Borrower and Market Street Funding Corporation on terms pursuant to which the Borrower and certain of its Subsidiaries will sell or grant a security interest in its accounts receivable or an undivided interest therein, provided, that the aggregate Capital (as such term is defined in the Accounts Receivable Securitization Documents) shall not exceed $100,000,000.