Receivables Financing Program definition
Receivables Financing Program means a program under which any of the Consolidated Entities sell, transfer, encumber or otherwise dispose of accounts receivable and/or related ancillary rights or assets, or interests therein, without recourse (except for customary representations and customary non-credit dilution provisions) other than with respect to such Consolidated Entity’s retained interest in such accounts receivable and/or related ancillary rights or assets or interests therein, such program to have terms and conditions reasonably acceptable to the Administrative Agent; provided that the aggregate outstanding attributed principal amount under such program shall not exceed $100,000,000 at any time.
Receivables Financing Program means a program pursuant to which a Special Purpose Receivables Financing Subsidiary issues debt securities or preferred stock secured by (i) Medicaid, Medicare or other patient accounts receivable or Permitted Receivables Financing Securities purchased from the Borrower and its Subsidiaries or (ii) security interests in Medicaid, Medicare or other patient accounts receivable or Permitted Receivables Financing Securities granted by the Borrower and its Subsidiaries.
Receivables Financing Program means a program under which any of the Consolidated Entities sell, transfer, encumber or otherwise dispose of accounts receivable and/or related ancillary rights or assets, or interests therein, without recourse (except for customary representations and customary non-credit dilution provisions) other than with respect to such Consolidated Entity’s retained interest in such accounts receivable and/or related ancillary rights or assets or interests therein, such program to have terms and conditions reasonably acceptable to the Administrative Agent; provided that the aggregate outstanding attributed principal amount under such program shall not exceed $75,000,000 at any time.
Examples of Receivables Financing Program in a sentence
Immediately upon the Company's receipt of any Net Cash Proceeds from the initial sale of Receivables in connection with the Permitted Receivables Financing Program, each Borrower receiving such proceeds agrees to make or cause to be made a mandatory prepayment of its Loans in an aggregate amount equal to a percentage to be mutually agreed by the Company and the Agent.
More Definitions of Receivables Financing Program
Receivables Financing Program means a program under which any of the Consolidated Entities sell, transfer, encumber or otherwise dispose of accounts receivable and/or related ancillary rights or assets, or interests therein, without recourse (except for customary representations and customary non-credit dilution provisions) other than with respect to such Consolidated Entity’s retained interest in such accounts receivable and/or related ancillary rights or assets or interests therein, such program to have terms and conditions reasonably acceptable to the Administrative Agent; provided that
Receivables Financing Program the program pursuant to which ▇▇▇▇▇▇▇ Funding issues debt securities or preferred stock, or obtains standby letters of credit for the benefit of the Borrower and its Subsidiaries, secured by (a) Medicaid, Veteran's Administration or other governmental accounts receivable or Permitted Receivables Financing Securities purchased from the Borrower and its Subsidiaries or (b) security interests in Medicaid, Veteran's Administration or other governmental accounts receivable or Permitted Receivables Financing Securities granted by the Borrower and its Subsidiaries.
Receivables Financing Program means, with respect to any Person, an agreement or other arrangement or program providing for the advance of funds to such Person against the pledge, contribution, sale or other transfer or encumbrances of Receivables Program Assets of such Person or such Person and/or one or more of its Subsidiaries.
Receivables Financing Program means a program pursuant to which a Special Purpose Receivables Financing Subsidiary issues debt securities or preferred stock secured by (i) Medicaid, Medicare or other patient accounts receivable or Permitted Receivables Financing Securities purchased from the Company and its Subsidiaries or (ii) security interests in Medicaid, Medicare or other patient accounts receivable or Permitted Receivables Financing Securities granted by the Company and its Subsidiaries.
Receivables Financing Program means a program under which any of the Consolidated Entities sell, transfer, encumber or otherwise