Definition of TBV Receivables

TBV Receivables means the Trade Accounts Receivable of TBV that are subject to the TBV Service Agreement and to which the Company has a valid, first priority security interest which it has, in turn, assigned to CIT.

Examples of TBV Receivables in a sentence

The Company agrees to pay, when due, all Taxes, including sales taxes, assessments, claims and other charges lawfully levied or assessed upon the Company or the Collateral unless such Taxes are being diligently contested in good faith by the Company or TBV (in respect of the TBV Receivables) or Gemini (in respect of the Gemini Receivables) by appropriate proceedings and adequate reserves are established in accordance with GAAP.