Receivables SPE definition

Receivables SPE means a Subsidiary that is a special purpose entity that (a) borrows against Receivables or purchases, leases or otherwise acquires Receivables or sells, disposes, assigns, leases, conveys or otherwise transfers Receivables to one or more third party purchasers or another Receivables SPE in connection with a Qualified Receivables Transaction or (b) engages in other activities that are necessary or desirable to effectuate the activities described in the definitions of Qualified Receivables Transaction or Third-Party Vendor Financing Program, or (c) is established or then used solely for the purpose of, and has no business other than, owning a Receivables SPE, servicing Receivables owned by a Receivables SPE, owning or holding title to the property or assets giving rise to such Receivables or any activities incidental thereto (including those described in the definitions of Qualified Receivables Transaction or Third-Party Vendor Financing Program).
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Receivables SPE means a Subsidiary that is a special purpose entity that
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Receivables SPE means a Subsidiary that is a special purpose entity that,:
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Examples of Receivables SPE in a sentence

  • The First Lien Term Loan Facility is guaranteed by each of the Debtors (with the exception of iQor Seller Services, LLC, Interactive Response Technologies, LLC, Cyber City Teleservices Marketing, Inc., iQor Receivables SPE LLC, and iQor Receivables SPE 2, LLC) and is secured by a first priority lien (subject to certain permitted liens) on substantially all assets of such Debtors other than the assets securing the Receivables Facility.

  • ThePriority Term Loan Facility is guaranteed by each of the Debtors (with the exception of iQor Seller Services, LLC, Interactive Response Technologies, LLC, Cyber Teleservices Marketing, Inc., iQor Receivables SPE LLC, and iQor Receivables SPE 2, LLC) and is secured by first priority liens (subject to certain permitted liens) on all of the collateral under the First Lien Credit 7 Exclusive of approximately $5 million of outstanding letters of credit.

  • The Second Lien Term Loan Facility is guaranteed by each of the Debtors (with the exception of iQor Seller Services, LLC, Interactive Response Technologies, LLC, Cyber City Teleservices Marketing, Inc., iQor Receivables SPE LLC, and iQor Receivables SPE 2, LLC) and is secured by a second priority lien (subject to certain permitted liens) on substantially all assets of such Debtors other than the assets securing the Receivables Facility.

  • On September 10, 2020 (the “ Petition Date”), each of the Debtors other than iQor Receivables SPE LLC and iQor Receivables SPE 2, LLC (collectively, the “iQor SPE Debtors”) filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code.4 The Debtors are operating their businesses and managing their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code.

  • On September 10, 2020 (the “ Petition Date”), each of the Debtors other than iQor Receivables SPE LLC and iQor Receivables SPE 2, LLC (collectively, the “iQor SPE Debtors”) filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code.9 On the Petition Date, the Debtors filed with the Court, among other papers, the Plan, the Disclosure Statement, 7 For additional discussion about, and certification of, the solicitation and vote tabulation processes, see the Voting Report.

  • On September 10, 2020 (the “ Petition Date”), each of the Debtors other than iQor Receivables SPE LLC and iQor Receivables SPE 2, LLC (collectively, the “iQor SPE Debtors”) filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code.2 The Debtors are operating their businesses and managing their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code.

  • Certain of our European subsidiaries and Australian subsidiaries have entered into the Securitization Facility and the Australian Receivables Facility, respectively, under which they contribute or sell substantially all of their trade accounts receivable as they are originated to the Securitization Receivables SPE or Australian SPE, as applicable.

  • The obligations of the Securitization Receivables SPE and Australian SPE are secured on a first-priority basis by all currently owned and subsequently acquired assets of the Securitization Receivables SPE or Australian SPE, respectively, including, but not limited to, all of the receivables transferred to it.


More Definitions of Receivables SPE

Receivables SPE means a Subsidiary that is a special purpose entity that (a) borrows against Receivables or purchases, leases or otherwise acquires Receivables or Transfers Receivables to one or more third party purchasers or another Receivables SPE in connection with a Qualified Receivables Transaction or (b) engages in other activities that are necessary or desirable to effectuate the activities described in the definitions of Qualified Receivables Transaction or the Third-Party Vendor Financing Program, or (c) is established or then used solely for the purpose of, and has no business other than, owning a Receivables SPE, servicing Receivables owned by a Receivables SPE, owning or holding title to the property or assets giving rise to such Receivables or any activities incidental thereto (including those described in the definitions of Qualified Receivables Transaction or the Third-Party Vendor Financing Program).
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Receivables SPE means (a) any Receivables Entity, (b) any other Person (i) formed solely for the purposes of engaging in a Permitted Receivables Financing (together with any activities incidental or related thereto) or (ii) which issues asset-backed commercial paper and uses the proceeds thereof to purchase Receivables or make funds available secured by Receivables.
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Receivables SPE means Basic Energy Receivables, LLC, a Delaware limited liability company.
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Related to Receivables SPE

  • Receivables Entity means (x) the Excluded Subsidiary and (y) each other wholly-owned Subsidiary of the Borrower which engages in no activities other than in connection with the financing of accounts receivable of the Receivables Sellers and which is designated (as provided below) as the “Receivables Entity” (a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Borrower or any other Subsidiary of the Borrower (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates the Borrower or any other Subsidiary of the Borrower in any way (other than pursuant to Standard Securitization Undertakings) or (iii) subjects any property or asset of the Borrower or any other Subsidiary of the Borrower, directly or indirectly, contingently or otherwise, to the satisfaction thereof (other than pursuant to Standard Securitization Undertakings), (b) with which neither the Borrower nor any of its Subsidiaries has any contract, agreement, arrangement or understanding (other than pursuant to the Permitted Receivables Facility Documents (including with respect to fees payable in the ordinary course of business in connection with the servicing of accounts receivable and related assets)) on terms less favorable to the Borrower or such Subsidiary than those that might be obtained at the time from persons that are not Affiliates of the Borrower, and (c) to which neither the Borrower nor any other Subsidiary of the Borrower has any obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of operating results. Any such designation shall be evidenced to the Administrative Agent by filing with the Administrative Agent an officer’s certificate of the Borrower certifying that, to the best of such officer’s knowledge and belief after consultation with counsel, such designation complied with the foregoing conditions.

  • Receivables Fees means distributions or payments made directly or by means of discounts with respect to any participation interests issued or sold in connection with, and all other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Financing.

  • Permitted Receivables Financing means any transaction or series of transactions that may be entered into by the Borrower or any Restricted Subsidiary pursuant to which it sells, conveys or contributes to capital or otherwise transfers (which sale, conveyance, contribution to capital or transfer may include or be supported by the grant of a security interest in) Receivables or interests therein and all collateral securing such Receivables, all contracts and contract rights, purchase orders, security interests, financing statements or other documentation in respect of such Receivables, any guarantees, indemnities, warranties or other obligations in respect of such Receivables, any other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving receivables similar to such Receivables and any collections or proceeds of any of the foregoing (collectively, the “Related Assets”), all of which such sales, conveyances, contributions to capital or transfers shall be made by the transferor for fair value as reasonably determined by the Borrower (calculated in a manner typical for such transactions including a fair market discount from the face value of such Receivables) (a) to a trust, partnership, corporation or other Person (other than the Borrower or any Subsidiary other than any Receivables Financing Subsidiary), which transfer is funded in whole or in part, directly or indirectly, by the incurrence or issuance by the transferee or any successor transferee of Indebtedness, fractional undivided interests or other securities that are to receive payments from, or that represent interests in, the cash flow derived from such Receivables and Related Assets or interests in such Receivables and Related Assets, or (b) directly to one or more investors or other purchasers (other than the Borrower or any Subsidiary), it being understood that a Permitted Receivables Financing may involve (i) one or more sequential transfers or pledges of the same Receivables and Related Assets, or interests therein (such as a sale, conveyance or other transfer to any Receivables Financing Subsidiary followed by a pledge of the transferred Receivables and Related Assets to secure Indebtedness incurred by the Receivables Financing Subsidiary), and all such transfers, pledges and Indebtedness incurrences shall be part of and constitute a single Permitted Receivables Financing, and (ii) periodic transfers or pledges of Receivables and/or revolving transactions in which new Receivables and Related Assets, or interests therein, are transferred or pledged upon collection of previously transferred or pledged Receivables and Related Assets, or interests therein, provided that any such transactions shall provide for recourse to such Subsidiary (other than any Receivables Financing Subsidiary) or the Borrower (as applicable) only in respect of the cash flows in respect of such Receivables and Related Assets and to the extent of breaches of representations and warranties relating to the Receivables, dilution of the Receivables, customary indemnities and other customary securitization undertakings in the jurisdiction relevant to such transactions.

  • Qualified Receivables Transaction means any transaction or series of transactions that may be entered into by the Borrower or any Subsidiary pursuant to which the Borrower or any Subsidiary may sell, convey or otherwise transfer to a newly-formed Subsidiary or other special-purpose entity, or any other Person, any accounts or notes receivable and rights related thereto.