Definance definition

Definance means, for each Transferred Receivable to be definanced pursuant to the terms of the Agreement, the fact of debiting, from the relevant Current Account, an amount equal to the amount of that Transferred Receivable and of crediting such amount to the relevant Deferred Availability Account.
View Source

Examples of Definance in a sentence

  • The Factor may, at its entire discretion (subject to prior notice to the relevant French Seller and to the Seller’s Agent), Definance or, at the request of the relevant French Seller, Transfer Back, any Untested Small Receivable or Embraer Receivable (i) that proves to be invalid and/or would prove to be unenforceable after appropriate notification is made to the relevant Debtor; or (ii) representing Exceeding Amounts (as the case may be).

  • At the end of such period and in case of non-payment, the Factor may Definance the Disputed Receivable by debit from the Current Account of an amount not exceeding the amount of the Disputed Receivable and credit of such amount to a Deferred Availability Account.

  • Back of Untested Small Receivables or Embraer Receivables The Factor may, at its entire discretion (subject to prior notice to the relevant French Seller and to the Seller’s Agent), Definance or, at the request of the relevant French Seller, Transfer Back, any Untested Small Receivable or Embraer Receivable (i) that proves to be invalid and/or would prove to be unenforceable after appropriate notification is made to the relevant Debtor; or (ii) representing Exceeding Amounts (as the case may be).

Related to Definance

  • Refinance means, in respect of any security or Indebtedness, to refinance, extend, renew, refund, repay, prepay, redeem, defease or retire, or to issue a security or Indebtedness in exchange or replacement for, such security or Indebtedness in whole or in part. “Refinanced” and “Refinancing” shall have correlative meanings.

  • Refinance Indebtedness has the meaning assigned to such term in Section 6.01(f).

  • Refinancing shall have correlative meanings.

  • Refinancing Term Loans means one or more Classes of Term Loans hereunder that result from a Refinancing Amendment.

  • Permitted Refinancing means, with respect to any Person, any modification, refinancing, refunding, renewal, replacement or extension of any Indebtedness of such Person; provided that (a) the principal amount (or if issued with original issue discount, the issue price) thereof does not exceed the principal amount (or if issued with original issue discount, the accreted value) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or extended except by an amount equal to unpaid accrued interest (including capitalized interest) and premium thereon plus other amounts owing or paid related to such Indebtedness, and fees, premiums, penalties and expenses (including any upfront fees and original issue discount) reasonably incurred, in connection with such modification, refinancing, refunding, renewal, replacement or extension and by an amount equal to any existing commitments unutilized thereunder, (b) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to clause (vi) of Section 6.01(a), such modification, refinancing, refunding, renewal, replacement or extension has a final maturity date equal to or later than the final maturity date of, and has a weighted average life to maturity equal to or greater than the weighted average life to maturity of, the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended, (c) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to clause (vi) of Section 6.01(a), at the time thereof, no Event of Default shall have occurred and be continuing and (d) if such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is Subordinated Indebtedness, to the extent such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal, replacement or extension is subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation governing the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended, and such modification, refinancing, refunding, renewal, replacement or extension is incurred by one or more Persons who is an obligor of the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended.