receivables purchase program definition
receivables purchase program means purchasing (with or without assuming the obligor’s risk), advancing (inclusive of factoring and forfeiting) and discounting receivables, regardless of who keeps the records of the receivables’ in terms of their maturity and who collects the accounts receivable;
receivables purchase program means a financing program for the early payment of Accounts owing by an Account Debtor that is sponsored by such Account Debtor, pursuant to which a Borrower sells to a third party financing source (and not pursuant to this Agreement or the other Loan Documents) Accounts owing to it by such Account Debtor in return for payment of such Accounts by such financing source prior to the scheduled due date therefor, or any recharacterization of such program under applicable Laws as a secured financing (and not a true sale). As of the Closing Date, no Loan Party has entered into any Receivables Purchase Program.
receivables purchase program means purchasing (with or without assuming the obligor’s risk), advancing (inclusive of factoring and forfeiting) and discounting receivables,
More Definitions of receivables purchase program
receivables purchase program means the credit card account purchase program between Carlyle and the Receivables Purchaser established pursuant to the Receivables Purchase Agreements.
receivables purchase program means (a) the transactions contemplated by the agreements related to the Receivables Purchase Facility and (b) any subsequent receivables purchase program that shall refinance and replace the receivables purchase program described in clause (a) above, provided that the documentation in respect of any such subsequent receivables program (i) shall be reasonably satisfactory to Administrative Agent, (ii) shall not contain (A) any covenants in respect of Borrower or any Subsidiary of Borrower (other than Receivables Subsidiary) as to matters that are the subject matter of Section 6 of this Agreement that are more restrictive than the covenants set forth in Section 6 of this Agreement or (B) any cross-default to this Agreement, and (iii) shall have a termination date (maturity date) later than the Receivables Purchase Facility.
receivables purchase program means the credit card account purchase program of any Specialty Stores Credit Party and a Receivables Purchaser established pursuant to a Receivables Purchase Agreement.
receivables purchase program a Landair Receivables Purchase Program, the Sonoco Receivables Purchase Program, and any other financing program for the early payment of Accounts owing by an Account Debtor that is sponsored by such Account Debtor, pursuant to which an Obligor sells to a third party financing source (and not pursuant to this Agreement or the other Loan Documents) Accounts owing to it by such Account Debtor in return for payment of such Accounts by such financing source prior to the scheduled due date therefor, or any recharacterization of such program under Applicable Law as a secured financing (and not a true sale).