Affiliate Receivables definition
Examples of Affiliate Receivables in a sentence
Each Purchaser authorizes the Administrative Agent to execute such documents and instruments in accordance with this subsection 11.10(b) and with respect to Foreign Receivables and Affiliate Receivables, except for Uncertified Foreign Receivables, to take whatever action is necessary to release any Liens in accordance with the intent of this subsection 11.10(b).
Notwithstanding any provision set forth in this Agreement to the contrary, in no event shall the term “Collateral” include any Affiliate Receivables.
To the extent Borrower receives any payments on account of Receivables or Affiliate Receivables, it shall hold such payments for Agent's benefit in trust as Agent's trustee and immediately deliver them to Agent in their original form with all necessary endorsements or, as directed by Agent, deposit such payments as directed by Agent pursuant to Section 22 hereof.
Agent may at any time verify Receivables or Affiliate Receivables utilizing an audit control company or any other agent of Agent.
Borrower or BNY may, upon ninety (90) days prior written notice, terminate BNY's right and obligation to provide ARM Services regarding Borrower's Receivables and Affiliate Receivables, provided that Borrower shall continue to remit the proceeds of such Receivables or Affiliate Receivables to a Blocked Account maintained by Borrower in accordance with Section 22 hereof.