Permitted Factoring definition

Permitted Factoring means a factoring or similar sale of accounts receivable and related rights and property on a non-recourse basis which is not entered into in connection with or as part of a Permitted Securitization and is not Integrated Service Contract Debt, in each case pursuant to documentation reasonably customary for such transactions.

Permitted Factoring means factoring, supply chain financing or similar arrangements, provided that such arrangement is entered into on market terms and that the aggregate value of receivables assigned and not settled or fallen due at no time exceeds EUR 6,000,000, which amount may be increased as set out in para- graph (b) of the definition of Permitted Financial Indebtedness."

Permitted Factoring means factoring arrangements entered into by the Group in the ordinary course of business up to SEK 5,000,000 during the tenor of the Bonds.

Examples of Permitted Factoring in a sentence

• The Issuer shall not (and shall ensure that neither of its Subsidiaries) sell or otherwise dispose of all or substantially all of its assets or operations to any person, other than licensing of the Issuer's IPR rights on normal commercial terms and Permitted Factoring.

• The Company and its Restricted Subsidiaries shall not permit the aggregate outstanding amount of Receivables Indebtedness and, without duplication, aggregate outstanding amount of any Permitted Factoring in each case to the extent recourse to the Company or any Domestic Restricted Subsidiary, at any one time to exceed the Dollar Equivalent Amount of $100,000,000.

• No Account that has been sold pursuant to a Permitted Factoring Arrangement or that, as of the date of the delivery of any Borrowing Base Certificate, the Borrowers reasonably anticipate selling pursuant to a Permitted Factoring Arrangement shall be an “Eligible Account” hereunder.

• Liens attaching solely to the accounts receivable sold pursuant to a Permitted Factoring Arrangement.

• Amendments of Organization Documents; Fiscal Year; Legal Name, State of Formation; Form of Entity; Permitted Factoring Documents and Accounting Changes.

More Definitions of Permitted Factoring

Permitted Factoring means any accounts receivable discount sales program pursuant to which a Subsidiary of Holdings sells all or a portion of accounts receivable (and related rights) owed to it in one or more transactions to a buyer on a limited or non-recourse basis (and/or grants a security interest in such accounts receivable transferred or purported to be transferred to such buyer) in the ordinary course of business; provided that (a) no such sales may be for less than 70% of the face value of such receivables (and related rights) and (b) any such transactions shall otherwise comply with the requirements of this Agreement relating to Permitted Factoring.

Permitted Factoring is defined in Section 7.1.

Permitted Factoring means the factoring or sale at a discount (or any such arrangement similar to the foregoing) of accounts receivable of Company or any of its Restricted Subsidiaries on a non-recourse basis in the ordinary course of business.”

Permitted Factoring means any recourse or non-recourse sales or disposals pursuant to factoring, receivables financings, securitisations or similar arrangements on arm’s length terms provided that:

Permitted Factoring means factoring arrangements entered into by any member of the Group on arm’s length terms for cash payable at the time of disposal that constitute (a) non-recourse sales or disposals or (b) recourse sales or disposals.

Permitted Factoring means the non-recourse factoring arrangements between the Borrower and DG Diskontbank GmbH as the same are in existence at the date hereof or any other factoring arrangement made by the Borrower with any Bank provided that the aggregate amount permitted to be outstanding at any relevant time under all such factoring arrangements does not exceed DM80,000,000 or its equivalent and in respect of which the Borrower has granted an assignment (in form and substance satisfactory to the Agent) to the Security Trustee of all of the Borrower's rights under such factoring agreement;

Permitted Factoring means a factoring arrangement entered into by one or more members of the Restricted Group and which satisfies each of the following conditions: