VAT Receivables definition

VAT Receivables in relation to each FleetCo means, at the time of calculation and in relation to each VAT Week of that FleetCo, the aggregate on the Friday of the immediately preceding VAT Week of amounts:

VAT Receivables means in relation to Dutch FleetCo, Spanish Branch and French FleetCo, the aggregate of all VAT repayments owed by the Spanish Tax Authority to Dutch FleetCo, Spanish Branch and the French Tax Authority to French FleetCo, respectively, in respect of which evidence satisfactory to the Transaction Agent (acting reasonably) has been received that such VAT repayment is owed to Dutch FleetCo, Spanish Branch or French FleetCo, as applicable, but excluding any VAT repayment in respect of which security in form and substance acceptable to the FleetCo Security Agent and the Transaction Agent has not been provided to the Transaction Agent and the FleetCo Security Agent in accordance with the Security Documents.

VAT Receivables means, in relation to any Ultimate Borrower, and at any time as long as the Borrower Vehicle Fleet NBV taken into account for the calculation of the Borrower Asset Value of such Ultimate Borrower is positive, the aggregate of all VAT repayments owed by a taxation authority to such Ultimate Borrower in its Core Country at such time and in respect of which evidence satisfactory to the Facility Agent (acting reasonably) has been received that such VAT repayment is owed to the relevant Ultimate Borrower, but excluding any VAT repayment in respect of which security in form and substance acceptable to the Security Agent has not been provided to the Security Agent in accordance with the Security Documents;

Examples of VAT Receivables in a sentence

• Each Finance Document (other than the Intercreditor Agreement, the Pledge of Feed-in Tariff Receivables, each Transfer Certificate and the Assignment of VAT Receivables) (each a Relevant Finance Document), having been duly executed by the parties to it and the delivery of an original of each duly executed Relevant Finance Document (other than the Pledge over Quotas, the Mortgage and the Privilegio Speciale) to the Senior Agent.

• Credit Risk Credit risk of interest rate swaps and forward foreign exchange contracts is considered minimal, as management closely monitors the financial condition of the counter-parties to the contracts, which are financial institutions with credit ratings of A- or higher.

• Seller shall bear all reasonable out-of-pocket third-party expenses of Purchaser in connection with Purchaser’s obligations under this Section 5.07(j) and, Purchaser shall be entitled to retain 5% of the amount recovered in respect of such Hungarian VAT Receivables within twelve (12) months following the Closing Date.

• Until this is done, we shall be under no obligation to purchase Supplier Invoices from Authorised Suppliers or IBM Reimbursables, IBM Receivables and VAT Receivables from you (whether or not previously agreed) and you will pay a late payment charge at the Default Rate set out in the Schedule on the shortfall amounts accruing from day to day.

• Any such termination shall not affect any right we have in relation to the IBM Reimbursables, IBM Receivables and VAT Receivables or the Receivables Rights and the Supplier Obligations and the Product Rights.

More Definitions of VAT Receivables

VAT Receivables means accounts receivable representing refunds owed by Governmental Authorities to any Subsidiary for value added taxes paid by or in respect of such Subsidiary in prior periods.

VAT Receivables with respect to any Person, the net position of VAT receivables (less VAT payables) such Person is entitled to credit or repayment from the relevant tax authority.

VAT Receivables means on any date all amounts that the Borrower is entitled to receive from the government of Mexico as a refund of value added taxes (impuesto al valor agregado).

VAT Receivables means those VAT receivables listed on Schedule 12.1(b). “WARN Act” has the meaning set forth in Section 6.9.

VAT Receivables means those VAT receivables listed on Schedule 12.1(b).

VAT Receivables means any net amounts payable by a Governmental Authority to the Borrower in accordance with Applicable Law on account of reimbursement of VAT amounts paid by the Borrower; provided that, when determining the projected amount of VAT Receivables for the purpose of the definition of Project Cash Flow Available for Debt Service in Clause 1.1 (Definitions), (i) the assumptions used to determine such amount shall have been agreed between the Borrower and the Senior Lenders’ Model Auditor (for the purposes of the Financial Model) or the Intercreditor Agent (for all other purposes) from time to time and (ii) each such amount shall be determined by the Borrower in good faith, on reasonable grounds, and in a manner consistent with those assumptions.

VAT Receivables means a payment obligation of the Country of the Netherlands or Belgium pursuant to an invoice raised to the respective country for valid reimbursement of VAT paid by BSDE or SDSA to the Country of the Netherlands or Belgium (1) for products purchased from IBM or one of its subsidiaries and which products were sold by BSDE to customers outside the Country of the Netherlands or (2) by SDSA to customers outside the Belgium, (3) for products sold by BSDE to SDSA and (4) for products supplied by IBM Singapore to SDSA, subject to the limitation specified in the Schedule;