Obligor Limits definition

Obligor Limits the specified limit expressed in Dollars on the aggregate net amount payable (net of credit memos) of Scheduled Receivables of any Tranche A Eligible Buyer, Tranche B Eligible Buyer or Tranche D Eligible Buyer that may be purchased and remain outstanding at any time hereunder in respect of Purchased Receivables, as set forth in Schedule 1.2, as amended. For the purposes of this definition, Japanese Yen denominated Receivables will be converted to Dollars at the Spot Rate in effect on the date of purchase.

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Obligor Limits the specified limit on the aggregate stated net amount payable (net of credit memos) of Scheduled Receivables of any Eligible Obligor that may be outstanding at any time hereunder, as set forth on Schedule A to the Fee Letter. The Obligor Limits in respect of any Eligible Obligor are subject to reduction or cancellation by the Purchaser in the event of an Obligor Adverse Change, any such reduction or cancellation to be notified by the Purchaser to the Seller and the Servicer promptly in writing (it being understood that any such reduction or cancellation shall not apply to Scheduled Receivables that have been purchased prior to the date of such reduction or cancellation).

Examples of Obligor Limits in a sentence

Schedule 1.2, “Eligible Buyers, Obligor Limits and Applicable Percentages” is deleted and replaced with Schedule 1.2 attached hereto.
With effect from the Effective Date of the First Amendment to the Agreement dated as of November 14, 2012, the Tranche A and Tranche B Obligor Limits shall be uncommitted, as specified on amended Schedule 1.2.
At such date as any Tranche A Receivables and Tranche B Receivables outstanding at the Effective Date of the First Amendment to the Agreement dated as of November 14, 2012 have been paid in full, Schedule 1.2, “Eligible Buyers, Obligor Limits and Applicable Percentages—Tranche A and Tranche B” shall be reduced to 0.
In respect of each Eligible Buyer and Tranche A and Tranche B, the receivables purchased shall not exceed the respective Obligor Limits.
Limits Schedule 1.2, "Eligible Buyers, Obligor Limits and Applicable Percentages" is deleted and replaced with Schedule 1.2 attached hereto.
Schedule 1.2, “Eligible Buyers, Obligor Limits and Applicable Percentages—Tranche D”, is deleted and replaced with Schedule 1.2 attached hereto.
The following proviso is inserted at the end of Section 2.6(a): “provided, however, that purchases of Malaysia Receivables shall be made solely by Deutsche Bank Malaysia subject, in each case, to compliance with the respective Obligor Limits for Tranche D Receivables and Deutsche Bank Malaysia shall only purchase Malaysia Receivables”.
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Subject to (i) the prior written consent of the Lender to the addition of such New Eligible Obligor, (ii) determination of the applicable Obligor Limits for such New Eligible Obligor by the Lender, and (iii) any necessary amendment to this Agreement, such customer shall be deemed to be an Eligible Obligor for all purposes of this Agreement and the other Program Documents.
The Participant may request the Company to provide such other information as it may require, to evaluate the request for enhancement of the said Obligor Limits.

More Definitions of Obligor Limits

Obligor Limits the specified limit on the aggregate stated net amount payable (net of credit memos) of Assigned Receivables of any Eligible Obligor that may be outstanding at any time hereunder, as set forth on Schedule B. The Obligor Limits in respect of any Eligible Obligor are subject to reduction or cancellation by the Lender in the event of an Obligor Adverse Change, any such reduction or cancellation to be notified by the Lender to the Borrower and the Servicer promptly in writing (it being understood that any such reduction or cancellation shall not apply to Assigned Receivables that have been assigned prior to the date of such reduction or cancellation). Certain Eligible Obligors have limits established in Euros as specified on Schedule B.

Obligor Limits the specified limit expressed in Dollars on the aggregate net amount payable (net of credit memos) of Scheduled Receivables of any Eligible Buyer that may be purchased and remain outstanding at any time hereunder in respect of Purchased Receivables, as set forth in Schedule 1.2, as amended. For the purposes of this definition, Japanese Yen or Euro denominated Receivables will be converted to Dollars at the Spot Rate in effect on the date of purchase.

Obligor Limits the specified limit on the aggregate stated net amount payable (net of credit memos) of Receivables of any Eligible Obligor that may be outstanding at any time hereunder, as set forth on Schedule 1.1E. The Obligor Limits in respect of any Eligible Obligor are subject to reduction or cancellation by the Agent in the event of an Obligor Adverse Change, any such reduction or cancellation to be notified by the Agent to the Servicer promptly in writing (it being understood that any such reduction or cancellation shall not apply to Transferred Receivables that have been assigned prior to the date of such reduction or cancellation).

Obligor Limits the specified limit on the aggregate stated net amount payable (net of credit memos) of Scheduled Receivables of any Eligible Buyer that may be outstanding at any time hereunder, as set forth on Schedule 1.1B. The Obligor Limits in respect of any Eligible Obligor are subject to reduction or cancellation by the Administrative Agent in the event of an Obligor Adverse Change, any such reduction or cancellation to be notified by the Administrative Agent to the Servicers promptly in writing (it being understood that any such reduction or cancellation shall not apply to Scheduled Receivables that have been purchased prior to the date of such reduction or cancellation.