Receivables Securitization Program definition

Receivables Securitization Program means any transaction or series of transactions that may be entered into by the Borrower and its Subsidiaries pursuant to which the Borrower and/or its Subsidiaries may sell, convey or otherwise transfer to the Receivables Subsidiary and (in the case of a transfer by the Receivables Subsidiary) any other Person, or may grant a security interest in, any Receivables Program Assets (whether now existing or arising in the future); provided that:

Receivables Securitization Program has the meaning set forth in Section 6.02(e).

Receivables Securitization Program means the Securitization Facility entered into by the Company in respect of its Receivable Assets on March 10, 2021 as amended and restated on or about the Issue Date, as further amended, supplemented, modified, extended, renewed, restated or refunded from time to time.

Examples of Receivables Securitization Program in a sentence

• For further information on the Company’s Receivables Securitization Program, see ‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations—Off-Balance Sheet Arrangements— Receivables Securitization Program’’ under Item 7 of this Annual Report.

• Consolidated VIE The SPV created in connection with the Receivables Securitization Program (as defined below in Note 5) in October 2020 is a bankruptcy remote, limited liability company wholly owned by the Utility, and its assets are not available to creditors of PG&E Corporation or the Utility.

• For further information on the Company’s Receivables Securitization Program, see ‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations—Off-Balance Sheet Arrangements—Receivables Securitization Program’’ under Item 7 of this Annual Report.

• The Receivables Securitization Program is scheduled to terminate on October 5, 2022, unless extended or earlier terminated.

• Pursuant to the Receivables Securitization Program, the Utility sells certain of its receivables and certain related rights to payment and obligations of the Utility with respect to such receivables, and certain other related rights to the SPV, which, in turn, obtains loans secured by the receivables from financial institutions (the “Lenders”).

More Definitions of Receivables Securitization Program

Receivables Securitization Program means any receivables securitization program to which the Company is a party which provides for the sale by the Company, without recourse, of its Receivables for a cash consideration of not less than 70% of the unpaid value of such Receivables, and including in any event the receivables securitization program pursuant to which the Company will sell to Funding Corp. all or substantially all of the Company's receivables and Funding Corp. will in turn sell an undivided interest in all of such Receivables to PAR Capital.

Receivables Securitization Program means any receivables securitization program to which the Company or a Subsidiary is a party which provides for the sale by the Company or its Subsidiaries, without recourse, of its Receivables for cash consideration, and including in any event the receivables securitization program pursuant to which the Company will sell to Funding Corp. all or substantially all of the Company’s receivables and Funding Corp. will in turn sell an undivided interest in all of such Receivables to Fairway Finance Company, LLC and its successors and assigns, and any amendments, supplements, extensions, refinancings, renewals, replacements and refundings thereof.

Receivables Securitization Program means any arrangement pursuant to which the Issuer or any of its Subsidiaries sells, contributes or otherwise transfers its Accounts Receivable to a Receivables Seller, whether for securitization, factoring or any similar arrangement.

Receivables Securitization Program means any receivables securitization program to which Borrower or a Subsidiary is a party which provides for the sale by Borrower or such Subsidiary, without recourse, of their receivables for a cash consideration, and including in any event the receivables securitization program pursuant to which Borrower or such Subsidiary will sell to Pilgrim’s Pride Funding Corporation all or substantially all of Borrower’s receivables and Pilgrim’s Pride Funding Corporation will in turn sell an undivided interest in all of such receivables to Fairway Finance Company, LLC, and its successors or assigns.

Receivables Securitization Program means any receivables securitization program to which the Company or a Subsidiary is a party which provides for the sale by the Company or its Subsidiaries, without recourse, of its Receivables for cash consideration, and including in any event the receivables securitization program pursuant to which the Company will sell to Funding Corp. all or substantially all of the Company’s receivables and Funding Corp. will in turn sell an undivided interest in all of such Receivables to Fairway Finance Company, LLC and its successors and assigns.

Receivables Securitization Program means any transaction or series of transactions that may be entered into by the Company and its Subsidiaries pursuant to which the Company and/or its Subsidiaries may sell, convey or otherwise transfer to the Receivables Subsidiary and (in the case of a transfer by the Receivables Subsidiary) any other Person, or may grant a security interest in, any Receivables Program Assets (whether now existing or arising in the future); provided that:

Receivables Securitization Program is defined in Section 10.2(e).