Examples of Securitization Facility in a sentence
The amount of impairment takes into account the financial condition of the customers, delinquencies in payments, collaterals and credit insurance coverage on trade receivables.On June 24, 2022, the Company amended its accounts receivable securitization facility (the "Securitization Facility") by extending the maturity to June 24, 2024.
The Securitization Facility contains certain restrictions and covenants relating to, among other things, dividends, tangible net worth, cash flow coverage, acquisitions and dispositions, and total indebtedness.
Due to the timing of receipts and disbursements, the Company may, from time to time, also record a receivable or payable related to the Securitization Facility.
The maximum cash advance available to the Company under the Securitization Facility is $135.0 million (June 30, 2022: $135.0 million; December 31, 2022: $135.0 million).
As of December 31, 2005, the Company was in compliance with the Securitization Facility covenants.