GCRC Receivables definition

GCRC Receivables means those Accounts and other indebtedness owed to Borrower arising under Borrower's private label credit card program and sold by Borrower to GCRC pursuant to the Receivables Purchase Agreement.
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GCRC Receivables has the meaning ascribed to it in the Senior Facility.
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Examples of GCRC Receivables in a sentence

  • At any time that an Event of Default exists or has occurred and is continuing, Lender shall, at its option, have the exclusive right to settle, adjust or compromise any claim, offset, counterclaim or dispute with account debtors or grant any credits, discounts or allowances other than with respect to GCRC Receivables.

  • Borrower shall cause GCRC to pay and distribute all amounts payable to, due to or required or permitted to be paid or distributed to GCRC (as holder of securities under the Securitization Facility or for the purchase of GCRC Receivables or payment of fees and expenses to Borrower) to be paid and distributed by payment directly to the Concentration Account in accordance with the Letter of Direction Agreement.

  • To the extent that the consideration for the purchase of GCRC Receivables consists of a capital contribution of the type described in Section 2.01(e)(ii) of the Receivables Purchase Agreement, Borrower shall, as soon as practicable thereafter, cause GCRC to distribute cash in redemption of the capital contribution to Borrower as shareholder of GCRC in the maximum amount permitted by law.