Asset Based Receivables definition
Asset Based Receivables means Receivables arising from Asset Based Lending Business.
Asset Based Receivables means Receivables arising from extensions of ----------------------- credit generally to manufacturers and distributors to finance their production and inventory, and are secured by finished goods inventory, accounts receivable, certain work-in-process, raw materials and component parts, as well as other assets of the borrower.
Examples of Asset Based Receivables in a sentence
The Transferor may from time to time, at its sole discretion, voluntarily designate Additional Accounts (other than those that contain Purchased Participation Receivables, Participation Interests or Asset Based Receivables unless the Modified Rating Agency Condition has been satisfied) to be included as Accounts and transfer to the Trust the Receivables (and the Collateral Security) of such Additional Accounts.