Factor Receivables definition

Factor Receivables means, as to each Borrower or Guarantor, the Accounts of such Borrower or Guarantor consisting of the right to payment of a monetary obligation from a Factor for Accounts sold by such Borrower or Guarantor to such Factor pursuant to and in accordance with the terms and conditions of the Factoring Agreements of such Borrower or Guarantor with such Factor.
View Source
Factor Receivables means the outstanding amount of those Foreign Trade Receivables from time to time sold by KESA to Swiss Bank Corporation pursuant to the Purchase Agreement or sold by KESA (or any other Subsidiary of the Borrower) pursuant to any other agreement providing for the factoring, sale or similar financing of Foreign Trade Receivables entered into with another bank or factor.
View Source
Factor Receivables means the outstanding amount of those Foreign Trade Receivables from time to time sold by KEMET Electronics, S.A., a corporation organized under the laws of Switzerland, together with its successors and permitted assigns. "Fair Market Value" means, at any time and with respect to any property, the sale value of such property that would be realized in an arm's-length sale at such time between an informed and willing buyer and an informed and willing seller (neither being under a compulsion to buy or sell); provided that the Fair Market Value of an Asset Disposition shall be determined by the Board of Directors of the Company if such Fair Market Value equals or exceeds
View Source

Examples of Factor Receivables in a sentence

  • Any amounts applied to the repayment of the Revolving Loans pursuant to this Section 3.5(a) (other than the proceeds of Due from Factor Receivables and Trade Accounts Receivable in the ordinary course of the Companies’ business) shall result in a reduction of the Supplemental Amount in an amount equal to such repayment of Revolving Loans.

  • Unless this Financing Agreement expressly provides otherwise, so long as no Event of Default shall have occurred and remain outstanding, the Agent agrees to apply all Proceeds of Due from Factor Receivables and Trade Accounts Receivable, all Proceeds of all other Collateral, and any other payment received by the Agent with respect to the Obligations, in such order and manner as the Agent shall elect in the exercise of its reasonable business judgment.

  • Neither the Borrower nor any Subsidiary shall at any time sell or otherwise factor any of its trade 47 receivables other than Factor Receivables (including without limitation intercompany transfers or sales of Foreign Trade Receivables in anticipation of their becoming Factor Receivables).

  • All advances under the Working Capital Revolving Credit Facility shall be limited by and subject to a Borrowing Base which shall be the sum of: ninety percent (90%) of Factor Receivables, eighty percent (80%) of Eligible Receivables, fifty percent (50%) of Eligible Inventory, and seventy percent (70%) of the appraised orderly liquidation value of Equipment.

  • All advances under the Working Capital Revolving Credit Facility shall be limited by and subject to a Borrowing Base which shall be the sum of: ninety percent (90%) of Factor Receivables, eighty percent (80%) of Eligible Receivables, fifty percent (50%) of Eligible Inventory, and seventy-five percent (75%) of the appraised orderly liquidation value of Equipment (to be depreciated by 20% per year).

  • Subsidiary shall mean a Subsidiary that is organized under the laws of the United States of America or any State thereof Due from Factor Receivables shall mean amounts due from Factor with respect to Trade Accounts Receivable generated in the ordinary course of business of the Companies which are purchased in each case by Factor under the Factoring Agreement and are and continue to be subject to the Assignment of Factoring Proceeds Agreement and which are and continue to be credit approved by Factor.