Factoring Facility means the credit facility evidenced by the Factoring Facility Documents.
Factoring Facility. (a) the Closing Date Factoring Facility and (b) any other agreement between the Parent Borrower and/or a Restricted Subsidiary and a bank, financial institution or other third party, pursuant to which (i) the Parent Borrower or such Restricted Subsidiary, as applicable, agrees to sell accounts receivable, together with Receivables Assets related thereto, at a maximum aggregate discount off the aggregate face value of such accounts receivable that is consistent with customary market terms as determined in good faith by the Parent Borrower and (ii) the obligations of the Parent Borrower and/or the Restricted Subsidiaries party thereto thereunder are non-recourse (except for Receivables Repurchase Obligations) to the Parent Borrower and/or such Restricted Subsidiaries, it being agreed and understood that (w) the Parent Borrower and any Domestic Subsidiaries party thereto may be jointly and severally liable for all Receivables Facility Undertakings and Receivables Repurchase Obligations of the Parent Borrower and/or any Restricted Subsidiary party thereto, (x) each Canadian Subsidiary party thereto may be jointly and severally liable for all Receivables Facility Undertakings and Receivables Repurchase Obligations of any other Canadian Subsidiary party thereto, (y) such accounts receivables and Receivables Assets thereto have been removed from the applicable Borrowing Base and (z) the Loan Parties shall not participate in more than five (5) such Factoring Facilities (including, for the avoidance of doubt, the Closing Date Factoring Facility) and Receivables Facilities in the aggregate at any time (with each account debtor (or group of affiliated account debtors) counting as a distinct Factoring Facility or Receivables Facility for purposes of such limitation).
Factoring Facility means the invoice discounting and factoring credit facility heretofore provided to MMI Automotive Ltd. by the Factor.
Examples of Factoring Facility in a sentence
Off-balance sheet arrangements Swedish Factoring Facility: The company has an arrangement to sell trade receivables due from AB Volvo through one of its European subsidiaries.
Factoring Facility On October 8, 2009, a non-Debtor subsidiary of LyondellBasell entered into an accounts receivable factoring facility for up to €100 million.
U.S. Factoring Facility: The company has an arrangement to sell trade receivables due from AB Volvo and its U.S. subsidiaries through one of its U.S. subsidiaries.
Moreover, as noted, rising employment can actually contribute to a rising rate of unemployment.
The company has taken Domestic Factoring Facility of ` 1400 lacs from IFCI Factors Ltd.
More Definitions of Factoring Facility
Factoring Facility means those certain arrangements pursuant to (a) that certain Second Amended and Restated Collection Date Factoring Agreement, dated September 30, 2001, between the CIT Group/Commercial Services, Inc. and A and G, Inc. (b) that certain Assignment of Monies Due Under Factoring Agreement dated September 30, 2001 between Suntrust Bank and A and G, Inc.; and (c) and that certain Factoring Agreement dated November 27, 2001 between UPS Capital Global Trade Finance Corporation and A and G, Inc. Federal Funds Rate means, for any day, a fluctuating interest rate equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by the Administrative Agent. The Administrative Agent's determination of such rate shall be binding and conclusive absent manifest error.
Factoring Facility a debt purchase facility provided on the terms of the Agreement; “Fees and Charges” all those fees and charges to which we are entitled for providing any Facility (and any VAT thereon); "Guaranteed Company" Cimcool Europe B.V., D-M-E Europe CVBA and Ferromatik Milacron Machinenbau GmbH;
Factoring Facility means the non-recourse factoring facility contemplated by the Non-Recourse Factoring Agreement, dated as of July 31, 2007, between Taminco NV (and certain of its affiliates), on the one hand, and Fortis Commercial Finance N.V., on the other hand, as the same has been and may be amended, restated, supplemented or otherwise modified from time to time; provided that the amended, restated, supplemented or otherwise modified facility shall be a comparable non-recourse factoring facility to that in effect on the Issue Date or shall be a Receivables Financing.
Factoring Facility means the financing provided pursuant to that certain Factoring Agreement dated as of the date hereof between Capstone Business Credit, LLC and Debtor and all related agreements, documents, and instruments, in each case as such may be amended or modified from time to time.
Factoring Facility means the factoring facility between Real Alloy Germany and the Factoring Facility Purchaser under the Factoring Facility Documents with a maximum financing amount of €50,000,000.
Factoring Facility means a factoring facility with PrimeRevenue pursuant to which the Company may sell and Bank of America, N.A. may purchase Accounts owed by Kohl’s.
Factoring Facility means any factoring facility of any Co-Borrower which has terms, covenants, pricing and other terms which have been approved in writing by the Required Lenders (such approval not to be unreasonably withheld or delayed).