Receivables Financing Subsidiary definition

Receivables Financing Subsidiary means any Wholly-owned Subsidiary of the Borrower formed solely for the purpose of, and that engages only in, one or more Permitted Receivables Financings.

Receivables Financing Subsidiary means any Wholly Owned Subsidiary of the Company which is the transferee of Receivables in connection with, and the borrower under, a Permitted Receivables Financing.

Receivables Financing Subsidiary means any Subsidiary of the Borrower that is formed solely for the purpose of engaging in, and engages in, one or more receivables financing transaction permitted by Section 5.02(b)(iii)(H).

Examples of Receivables Financing Subsidiary in a sentence

• The Borrower agrees to cause each Person, other than a Special Purpose Receivables Financing Subsidiary, that shall, at any time after the date hereof, become a Wholly-Owned Subsidiary of the Borrower to enter into the Subsidiary Guaranty.

• Permit any Permitted Receivables Financing Subsidiary to engage in any activities or to incur any Indebtedness, guaranty, Liens or any other obligations, in each case except as otherwise permitted under the definition of Permitted Receivables Financing Subsidiaries.

• Notwithstanding anything to the contrary contained in this Section 5.01(i) or any other Loan Document, the Borrower shall not be required to cause any Receivables Financing Subsidiary or Insurance Subsidiary to join or become a party to, or otherwise become bound by, any guaranty (including the Subsidiary Guaranty) guaranteeing the other Loan Parties’ Obligations under the Loan Documents.

• Following the consummation of any Asset Disposition of receivables to the Receivables Financing Subsidiary, the Credit Parties will cause the Receivables Financing Subsidiary to dividend, distribute or otherwise transfer to the Credit Parties any Property of the Receivables Financing Subsidiary not required to be pledged to the purchaser of receivables from the Receivables Financing Subsidiary.

• Organize or invest, or permit any Subsidiary to organize or invest, in any new Subsidiary except as permitted under ‎Section 5.02(f)(iii), ‎(vii), ‎‎(ix), (xiii), ‎(xiv) or (xv) or organizing a new Receivables Financing Subsidiary.

More Definitions of Receivables Financing Subsidiary

Receivables Financing Subsidiary means any Subsidiary of the Company that is formed solely for the purpose of engaging in, and engages in, one or more receivables financing transaction permitted by Alliance – Security Agreement

Receivables Financing Subsidiary means CMC Receivables, Inc. and any other Subsidiary of the Company which is the transferee of Receivables in connection with, and the borrower under, a Permitted Receivables Financing.

Receivables Financing Subsidiary means any Wholly Owned Subsidiary of the Issuer formed solely for the purpose of, and that engages only in, one or more Permitted Receivables Financings.

Receivables Financing Subsidiary means any Wholly-owned Subsidiary of the Lead Borrower formed solely for the purpose of, and that engages only in, one or more Permitted Receivables Financings.

Receivables Financing Subsidiary means a Subsidiary formed for the purpose of monetizing accounts receivable of the Company and/or one or more of its Subsidiaries whose assets consent of cash, such accounts receivable and related intangibles and assets.

Receivables Financing Subsidiary means AROP Funding and any Subsidiary of the Borrower or a Loan Party that is formed solely for the purpose of engaging in, and engages in, one or more receivables financing transaction pursuant to Section 5.02(b)(xi).

Receivables Financing Subsidiary means a corporation that (a) is a direct or indirect bankruptcy remote, special purpose entity, (b) satisfies, as of the date of its formation, the special purpose entity criteria published by Standard & Poor’s Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. and in effect as of such date, and (c) was created for the sole purpose of acquiring, and whose only assets consist at all times of, Securitization Assets.