Product Obligations definition

Product Obligations means Liabilities relating to any product liability, warranty, refund or similar claims or returns, adjustments, allowances, repairs or returns, accrued or arising based on Products shipped on or after the Effective Time.

Product Obligations means every obligation of any Borrower under and in respect of any one or more of the following types of services or facilities extended to such Borrower by any Lender or Agent or any Affiliate of any Lender or Agent: (i) cash management or related services including the automatic clearing house transfer of funds for the account of such Borrower pursuant to agreement or overdraft, (ii) treasury management, including controlled disbursement services and (iii) Derivative Obligations.

Product Obligations every obligation of any Borrower or any other Loan Party under and in respect of any one or more of the following types of services or facilities extended to such Borrower or any other Loan Party by Bank, Administrative Agent, any Lender or any of their respective Affiliates: (i) credit cards, (ii) cash management or related services including the automatic clearing house transfer of funds for the account of such Borrower or any other Loan Party pursuant to agreement or overdraft, (iii) treasury management, including controlled disbursement services, (iv) Derivative Obligations, (v) commercial cards (including so-called “procurement cards” or “P-cards”), and (vi) supply chain financing and supply chain finance services (including, without limitation, trade payable services and supplier accounts receivable purchases).

Examples of Product Obligations in a sentence

• Each Secured Bank Product Provider shall indemnify and hold harmless Agent Indemnitees, to the extent not reimbursed by Obligors, against all Claims that may be incurred by or asserted against any Agent Indemnitee in connection with such provider’s Secured Bank Product Obligations.

• Except with respect to setoff amounts applied to Product Obligations, any Lender exercising a right to setoff shall, to the extent the amount of any such setoff exceeds its Pro Rata Percentage of the amount set off, purchase for cash (and the other Lenders shall sell) interests in each such other Lender’s pro rata share of the Obligations as would be necessary to cause such Lender to share such excess with each other Lender in accordance with their respective Pro Rata Percentages.

• U.S. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its Permitted Discretion and subject to Section 2.1.1(c) in respect of Secured Bank Product Obligations of U.S. Obligors.

• Each Secured Party agrees that, except as otherwise provided in any Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations (other than Secured Bank Product Obligations) or assert any rights relating to any Collateral.

• If an Event of Default described in Section 12.1(j) occurs with respect to any Obligor, then to the extent permitted by Applicable Law, all Obligations (other than Secured Bank Product Obligations) shall become automatically due and payable and all Revolver Commitments shall terminate, without any action by Agent or notice of any kind.

More Definitions of Product Obligations

Product Obligations means each, every and all of the obligations of each Borrower under and in respect of any one or more of the following types of services or facilities extended to such Borrower by Agent, any Lender or any Affiliate of Agent or any Lender: (i) credit cards, (ii) cash management or related services including the automatic clearing house transfer of funds for the account of such Borrower pursuant to agreement or overdraft, (iii) cash management, including controlled disbursement services, (iv) debt arising out of factoring arrangements between any Person and Agent, and any Affiliate thereof, and (v) all obligations in respect of interest rate swap agreements, currency swap agreements and other similar agreements designed to hedge against interest rate fluctuations.

Product Obligations means every obligation of Borrowers under and in respect of any one or more of the following types of services or facilities extended to any Borrower by Issuing Bank, Agent, Canadian Agent, U.K. Agent, any Lender or any Affiliate of Issuing Bank, Agent, Canadian Agent, U.K. Agent or any Lender: (i) credit cards, (ii) cash management or related services including the automatic clearing house transfer of funds for the account of any Borrower pursuant to agreement or overdraft, (iii) cash management, including controlled disbursement services and (iv) Derivative Obligations.

Product Obligations means (a) obligations arising in respect of product support or maintenance obligations related to Products sold or licensed prior to the Closing and required to be performed after Closing, which obligations arise under any Assumed Contract or Transferred Sub Contract, provided that the cost of these obligations shall be borne by Seller as an Excluded Liability and (b) Liabilities relating to any product liability, warranty, refund or similar claims or returns, adjustments, allowances, repairs or returns made with respect to Products sold on or after the Closing Date.

Product Obligations. Reload Date," "Reload Option" and "Third Amendment Effective Date," are hereby inserted in Appendix A to the Loan Agreement. "Derivative Obligations - every obligation of a Person under any forward contract, futures contract, exchange contract, swap, option or other financing agreement or arrangement (including, without limitation, caps, floors, collars and similar agreement), the value of which is dependent upon interest rates, currency exchange rates, commodities or other indices. * * * Fixed Asset Component _ as of any date Fifteen Million Dollars ($15,000,000) reduced by Three Hundred Thousand Dollars ($300,000) on each November 1, February 1, May 1 and August 1 occurring from the later of the Third Amendment Effective Date or, if a Reload Date has occurred, the most recent Reload Date. * * *

Product Obligations has the meaning set forth in Section 4.21. “Purchase Price” has the meaning set forth in Section 2.01(a). “Purchaser” has the meaning set forth in the Preamble.

Product Obligations means (a) obligations arising in respect of Product support or maintenance obligations related to Products (x) sold or licensed prior to, on or after the Closing Date and (y) required to be performed after Closing, and any Liabilities which may arise in connection with the performance of, or failure to perform, such obligation, and (b) any and all obligations (and any related Liabilities) arising under any Assumed Contract relating to any product Liability, warranty, refund or similar claims or returns, other than Product Returns subject to Section 6.2 hereof, adjustments, allowances or repairs made with respect to Products sold prior to, on or after the Closing Date.

Product Obligations has the meaning set forth in Section 4.21.