Draft Monetization definition
Draft Monetization means the sale of Customer Drafts more than ten (10) days prior to the maturity date of such drafts to an acceptable financial institution with whom Agent has entered into a satisfactory intercreditor agreement regarding the payment of the purchase price for the Customer Drafts being sold to such financial institution.
Examples of Draft Monetization in a sentence
No Loan Party will, nor will it permit any Subsidiary to, amend, modify or waive any of its rights under (a) any agreement relating to any Subordinated Indebtedness, (b) its charter, articles or certificate of incorporation or organization, by-laws, operating, management or partnership agreement or other organizational or governing documents, or (c) Draft Monetization, in each case, to the extent any such amendment, modification or waiver would be adverse to the Lenders in any material respect.