Receivable Entity definition

Receivable Entity means a bankruptcy remote single purposes entity that is a Subsidiary of the Borrower or another Person in which the Borrower or any Subsidiary of the Borrower makes an investment and that is established for the sole purpose of purchasing accounts receivable from the Borrower and its Subsidiaries in transactions structured as true sales.
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Receivable Entity means (a) a Subsidiary of CFTC or (b) another Person engaging in a Qualified Receivables Transaction with CFTC, in each case, that engages in no activities other than in connection with the financing of loans receivables and is designated by the Board of Directors of CFTC (as provided below) as a Receivables Entity, and in either of clause (a) or (b):
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Examples of Receivable Entity in a sentence

  • The Company will not permit any of the Restricted Subsidiaries (other than a Finance Subsidiary or an Accounts Receivable Entity) to issue any Preferred Stock (other than to the Company or to a Restricted Subsidiary) or permit any Person (other than the Company or a Restricted Subsidiary) to own any Preferred Stock of any Restricted Subsidiary (other than a Finance Subsidiary or an Accounts Receivable Entity).

  • Each Receivable Originator will cause the Receivable Entity to forward payments arising from the sale by the Receivable Originators of their Receivables directly to one of the Lock Boxes or Collateral Deposit Accounts.

  • In calculating the amount of the accounts receivable sold in any sale of account receivable, including, but not limited to a Permitted Securitization Transaction, for purposes of this Section 5.11 during any period of calculation, the amount of the collections received during that period by the Receivable Entity (which term is defined in the definition of the term “Permitted Securitization Transaction”) on the accounts receivable so sold shall be subtracted therefrom.

  • In calculating the amount of the accounts receivable sold in any sale of account receivable, including, but not limited to a Permitted Securitization Transaction, for purposes of this Section 5.11 during any period of calculation, the amount of the collections received during that period by the Receivable Entity (which term is defined in the definition of CREDIT AGREEMENT, Page 41 the term “Permitted Securitization Transaction”) on the accounts receivable so sold shall be subtracted therefrom.

  • The Company will not, and will not permit any Restricted Subsidiary to, issue, sell, transfer or dispose of on or after the Spin-Off Date any Capital Stock of any Restricted Subsidiary (other than a Finance Subsidiary or an Accounts Receivable Entity) that is not a Guarantor (other than the granting of Liens permitted by Section 4.15) unless such issuance, sale, transfer or disposition results in the issuer of such Capital Stock no longer being a Restricted Subsidiary.

  • The Company will not permit any of the Restricted Subsidiaries (other than a Finance Subsidiary or an Accounts Receivable Entity) to issue any Preferred Stock after the Spin-Off Date (other than to the Company or to a Restricted Subsidiary) or permit any Person (other than the Company or a Restricted Subsidiary) to own after the Spin-Off Date any Preferred Stock of any Restricted Subsidiary (other than a Finance Subsidiary or an Accounts Receivable Entity).