Permitted Asset Securitization definition

Permitted Asset Securitization means each Permitted Lease Receivable Securitization and each Permitted Trade Receivable Securitization.

Permitted Asset Securitization means a sale or other disposition by the Company of its accounts and notes receivable in a transaction permitted by Section 5.14(c).

Permitted Asset Securitization means any securitization of or similar structured finance process aggregating pools of Notes Receivable established, managed, serviced or seeded by any Borrower or any of its Subsidiaries, or other co-origination, co-investment, co-financing or similar programmatic funding arrangement, in each case in the ordinary course of business upon fair and reasonable terms no less favorable to such Borrower or such Subsidiary, as applicable, than would be obtained in an arm’s-length transaction with a non-Affiliate.

Examples of Permitted Asset Securitization in a sentence

• This provision shall not be deemed to permit any Permitted Asset Securitization by the Borrower or any of its Subsidiaries not otherwise permitted hereunder.

• Effect of Permitted Asset Securitization ...........................

• In addition, Borrower or any of its consolidated Subsidiaries may sell any of its account receivables or any interest therein or any invoice to any Person pursuant to, and subject to the terms and conditions of, any Permitted Asset Securitization Transaction.

• In the event that the Borrower shall enter into a Permitted Asset Securitization, the Borrower shall maintain such Permitted Asset Securitization (or a replacement Permitted Asset Securitization) in effect at all times, unless any Collateral previously released in respect of such Permitted Asset Securitization is re- pledged to the Administrative Agent for the benefit of the Lenders.

• In addition, each of Borrower and its Consolidated Subsidiaries may sell its accounts receivable (or any interest therein) or any invoice pursuant to, and subject to the terms and conditions of, any Permitted Asset Securitization Transaction.

More Definitions of Permitted Asset Securitization

Permitted Asset Securitization means an asset-securitization facility with respect to the accounts receivable of the Borrower and its Subsidiaries entered into by the Borrower and its Subsidiaries with a financial institution or a syndicate of financial institutions on or before June 30, 2001, so long as (a) the maximum amount of such facility does not exceed $60,000,000 at any time, (b) neither the Borrower nor any of its Subsidiaries shall have incurred any Indebtedness of any kind in connection with such facility nor shall there be any recourse to the Borrower or any of its Subsidiaries in connection with such facility, (c) at least twenty days prior to the closing of the initial transaction relating to such facility, the Borrower shall have provided written notice thereof to Administrative Agent and the Lenders, and (d) the Borrower shall have provided to the Administrative Agent or any Lender such documentation or other information with respect to such facility as the Administrative Agent or any such Lender shall reasonably request.

Permitted Asset Securitization means any securitization of or similar structured finance process aggregating pools of Notes Receivable established, managed, serviced or seeded by any

Permitted Asset Securitization means any securitization of accounts receivable of the Borrower or its Subsidiaries having an aggregate contract value not exceeding $75,000,000 when added to all other securitization transactions consummated during the term of this Agreement and upon such terms as are acceptable to and approved in writing by the Required Lenders.

Permitted Asset Securitization means, with respect to the Canadian Borrower and its Subsidiaries:

Permitted Asset Securitization means any transaction or series of related transactions (including extensions and increases in the amount of the financing) providing for the financing of receivables and/or other assets through one or more securitizations of the receivables and/or other assets of the Borrower and the Subsidiaries that satisfies each of the following conditions:

Permitted Asset Securitization means an asset securitization facility whereby the Borrower and its Subsidiaries sell or transfer the Receivables Related Assets of the Borrower and its Subsidiaries to the Receivables Subsidiary which in turn transfers to a buyer, purchaser or lender undivided fractional interests in such Receivables Related Assets, so long as (a) the maximum amount of such facility does not exceed $60,000,000 at any time, (b) neither the Borrower nor any of its Subsidiaries (other than the Receivables Subsidiary) shall have incurred any Indebtedness of any kind in connection with such facility nor shall there be any recourse (other than indemnification of a type customary for securitization transactions) to the Borrower or any of its Subsidiaries

Permitted Asset Securitization has the meaning set forth in Section 2.17(a).