Permitted Receivables Transactions means any sale or sales of, and/or securitization of, or transfer of, any Receivables of the Loan Parties pursuant to which (a) the Receivables SPV realizes aggregate net proceeds of not more than the Dollar Equivalent of $150,000,000 at any one time outstanding, including, any revolving purchase(s) of Receivables where the maximum aggregate uncollected purchase price (exclusive of any deferred purchase price) for such Receivables at any time outstanding does not exceed the Dollar Equivalent of $150,000,000, (b) the Receivables shall be transferred or sold to the Receivables SPV at fair market value or at a market discount, and shall not exceed the Dollar Equivalent of $150,000,000 in the aggregate at any one time and (c) obligations arising therefrom shall be non-recourse to the Borrower and its Subsidiaries (other than the Receivables SPV).
Permitted Receivables Transactions means any sale of notes or accounts receivable by the Borrower or a Restricted Subsidiary so long as such sale constitutes a “true sale” under GAAP and recourse to the Borrower and its Restricted Subsidiaries in connection with such sale is limited to (a) the retained portion of the notes or accounts receivable or (b) such other recourse as the Borrower determines in good faith (which determination shall be conclusive) is customary or otherwise necessary or advisable in connection with such transaction.
Permitted Receivables Transactions means any sale or sales of, and/or securitization of, or transfer of, any Receivables of the Borrowers pursuant to which (a) the Receivables SPV realizes aggregate net proceeds of not more than $100,000,000 at any one time outstanding, including, without limitation, any revolving purchase(s) of Receivables where the maximum aggregate uncollected purchase price (exclusive of any deferred purchase price) for such Receivables at any time outstanding does not exceed $100,000,000, (b) the Receivables shall be transferred or sold to the Receivables SPV at fair market value or at a market discount, and shall not exceed $125,000,000 in the aggregate at any one time and (c) obligations arising therefrom shall be non-recourse to the Parent and its Subsidiaries (other than the Receivables SPV).
Examples of Permitted Receivables Transactions in a sentence
The sum, without duplication, of all (1) Indebtedness of the Borrower on a consolidated basis under subsections (a) through (h) of the definition of “Indebtedness” (provided, however, that Indebtedness with respect to Permitted Receivables Transactions shall not be included in such calculation), plus (2) non-contingent reimbursement obligations of the Borrower and its Subsidiaries with respect to drawings under any letters of credit.
Any one or more direct or indirect wholly-owned Subsidiaries of the Parent formed for the sole purpose of engaging in Permitted Receivables Transactions, and which engage in no business activities other than those related to Permitted Receivables Transactions.
In the event that Net Cash Proceeds received by the Borrowers from asset sales exceed $50,000,000 per annum (other than in connection with Permitted Receivables Transactions and the sale, lease, license or other disposition of assets in the ordinary course of business and with respect to asset swaps permitted under 8.4), the Borrowers will use one-hundred percent (100%) of any such Net Cash Proceeds in excess of $50,000,000 to pay down the Loans in the manner set forth in 4.4.2.
This product is manufactured in Germany and requires longer lead times.
Encumbrances securing other Debt, provided that the aggregate amount of all liabilities, including any Debt, of WMI and its Subsidiaries secured by all Encumbrances permitted in subsections (k), (l) and (m), when added (without duplication) to the aggregate amount of Debt of WMI’s Subsidiaries permitted under Section 6.4(1)(b) and Debt with respect to Permitted Receivables Transactions, shall not exceed 15% of Consolidated Tangible Assets at any time.
More Definitions of Permitted Receivables Transactions
Permitted Receivables Transactions means any sale or sales of, and/or securitization of, or transfer of, any Receivables of the Company and the Subsidiary Guarantors pursuant to which (a) the Receivables SPV realizes aggregate net proceeds of not more than $100,000,000 (or its equivalent in the relevant currency) at any one time outstanding, including, without limitation, any revolving purchase(s) of Receivables where the maximum aggregate uncollected purchase price (exclusive of any deferred purchase price) for such Receivables at any time outstanding does not exceed $100,000,000 (or its equivalent in the relevant currency), (b) the Receivables shall be transferred or sold to the Receivables SPV at fair market value or at a market discount, and shall not exceed $125,000,000 (or its equivalent in the relevant currency) in the aggregate at any one time and (c) obligations arising therefrom shall be non-recourse to the Company and its Subsidiaries (other than the Receivables SPV).
Permitted Receivables Transactions means any sale or sales of, and/or securitization of, or transfer of, any Receivables of the Borrower or its direct or indirect wholly-owned Subsidiaries pursuant to which (a) the Receivables SPV realizes aggregate net proceeds of not more than the U.S. Dollar Equivalent of U.S.$100,000,000 at any one time outstanding, including, without limitation, any revolving purchase(s) of Receivables where the maximum aggregate uncollected purchase price (exclusive of any deferred purchase price) for such Receivables at any time outstanding does not exceed the U.S. Dollar Equivalent of U.S.$100,000,000, (b) the Receivables shall be transferred or sold to the Receivables SPV at fair market value or at a market discount, and shall not exceed the U.S. Dollar Equivalent of U.S.$125,000,000 in the aggregate at any one time and (c) obligations arising therefrom shall be non-recourse to the Borrower and its Subsidiaries (other than the Receivables SPV).
Permitted Receivables Transactions means, collectively, (i) if an SPC is created in connection therewith, the creation of the SPC to purchase accounts receivable generated by and owed to the Company or any Subsidiary, (ii) the entry by one or more Receivables Sellers into one or more receivables purchase agreements with Purchasers, pursuant to which each Purchaser will, from time to time, purchase from such Receivables Sellers undivided interests in the receivables described in clause (i), and (iii) the entry by such Receivables Sellers into such ancillary agreements, documents and instruments as are necessary or advisable in connection with such receivables purchase agreements, provided that (x) the outstanding principal amount of the financing provided by all Purchasers pursuant to all such receivables purchase agreements shall not exceed $500,000,000 in the aggregate at any time and (y) the primary structural terms of each such receivables purchase agreement, including without limitation, the amount of any recourse to the Company or any of its Subsidiaries for uncollectible receivables, shall be reasonably satisfactory to the Agent in each case.
Permitted Receivables Transactions means the CFSC Transaction and the Patriot Transaction.
Permitted Receivables Transactions means, collectively,
Permitted Receivables Transactions means any sale of notes or accounts receivable by the Borrower or a Restricted Subsidiary so long as such sale constitutes a “true sale” under GAAP and recourse to the Borrower and its Restricted Subsidiaries in connection with such sale is limited to the retained portion of the notes or accounts receivable.
Permitted Receivables Transactions means any sale or sales of, and/or securitization of, or transfer of, any Receivables of the Loan Parties pursuant to which (a) the Receivables SPV realizes aggregate net proceeds of not more than the Dollar Equivalent of $200,000,000 at any one time outstanding, including, any revolving purchase(s) of Receivables where the maximum aggregate uncollected purchase price (exclusive of any deferred purchase price) for such Receivables at any time outstanding does not exceed the Dollar Equivalent of $200,000,000, (b) the Receivables shall be transferred or sold to the Receivables SPV at fair market value or at a market discount, and shall not exceed the Dollar Equivalent of $200,000,000 in the aggregate at any one time and (c) obligations arising therefrom shall be non-recourse to the Borrower and its Subsidiaries (other than the Receivables SPV). “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. “Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA maintained for employees of the Company or any such Plan to which the Company is required to contribute on behalf of any of its employees. “Platform” has the meaning specified in Section 6.02. “Pledge Agreement” means the Amended and Restated Pledge Agreement, dated as of the Closing Date, among the Domestic Loan Parties and the Administrative Agent, for the benefit of the Secured Parties. “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time. “Public Lender” has the meaning specified in Section 6.02. “Qualified ECP Guarantor” shall mean, at any time, each Loan Party that is not a Foreign Obligor or an Excluded Subsidiary with total assets exceeding $10,000,000 or that qualifies at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another person to qualify as an “eligible contract participant” at such time under §1a(18)(A)(v)(II) of the Commodity Exchange Act. “Qualified Equity Interests” means any Equity Interests that are not Disqualified Equity Interests. “Rate Determination Date” means two (2) Business Days prior to the commencement of such Interest Period (or such other day as is generally treated as the rate fixing day by market practice in such interbank market, as determined by the Administrative Agent; provided that to the...