Accounts Receivable Facility means the transactions contemplated by the Accounts Receivable Facility Documents pursuant to which the Designated Credit Parties sell their accounts receivable and related assets to the Receivables Subsidiary for resale by the Receivables Subsidiary as part of a customary asset securitization transaction involving accounts receivable and related assets.
Accounts Receivable Facility a credit facility extended pursuant to this Agreement.
Accounts Receivable Facility a credit facility extended pursuant to this Agreement. "Agreement for Wholesale Financing": any Agreement for Wholesale Financing, as amended from time to time, which Dealer has executed in conjunction with inventory financing extended by DFS. "Average Contract Balance": the amount determined by dividing: (a) the sum of the Daily Contract Balances (as defined in Section 2.1.1) for a billing period; by, (b) the actual number of days in such billing period. "Default": the events or occurrences enumerated in Section 6. "Entity": any individual, association, firm, corporation, partnership, limited liability company, trust, governmental body, agency or instrumentality whatsoever. "Government Accounts": Accounts due and payable to a U.S. county, state or federal governmental body, agency or instrumentality; or body, agency or instrumentality of the District of Columbia. "Guarantor": a guarantor of any of the Obligations. "Inventory": all of Dealer's presently owned and hereafter acquired goods which are held for sale or lease. "Obligations": all liabilities and indebtedness now or hereafter arising, owing, due or payable from Dealer to DFS (and any of its subsidiaries and affiliates), including any third party claims against Dealer satisfied or acquired by DFS, whether primary or secondary, joint or several, direct, contingent, fixed or otherwise, and whether or not evidenced by instruments or evidences of indebtedness, and all covenants, agreements (including consent to binding arbitration), warranties, duties and representations, whether such Obligations arise under this Agreement, the Other Agreements or any other agreements previously, now or hereafter executed by Dealer and delivered to DFS or by operation of law. "Other Agreements": all security agreements (including the Agreement for Wholesale Financing), mortgages, leases,
Examples of Accounts Receivable Facility in a sentence
If, for any reason, Borrower’s outstanding loans under the Accounts Receivable Facility shall at any time exceed Borrower’s Available Credit, Borrower will immediately repay to CDF the amount of such excess.
On receipt of each funding request from Borrower (in the form of Exhibit B attached hereto), CDF will provide an advance to Borrower in the amount requested by Borrower, but subject to the amount of credit then available under the Accounts Receivable Facility as described in Section 2.1), less the amount of Borrower’s outstanding principal loan balance on such day (such amount being referred to as the “Available Credit”).
Subject to the terms of this Agreement, CDF agrees to provide to Borrower an Accounts Receivable Facility of ONE HUNDRED MILLION DOLLARS ($100,000,000) or ONE HUNDRED TWENTY MILLION DOLLARS ($120,000,000), during seasonal Uplift Periods, as described below.
There will be an Unused Line fee applicable to the Accounts Receivable Facility as set forth below as well as the audit fees set forth in Sections 3.12.
More Definitions of Accounts Receivable Facility
Accounts Receivable Facility means the transactions contemplated by the Accounts Receivable Facility Purchase Agreement.
Accounts Receivable Facility means any credit facility or conditional sale contract or similar arrangement providing financing secured directly or indirectly only by the accounts receivable of the Borrower or the Subsidiaries, on terms reasonably acceptable to the Required Lenders.
Accounts Receivable Facility means the Existing A/R Facility and any successor, replacement or additional accounts receivable financing program entered into by Company and/or any of its Subsidiaries on terms customary for accounts receivable financings; provided, in each case, that there is no recourse thereunder against Company or any of its Subsidiaries for any default by any account obligor in the payment of its obligations in connection with the accounts receivable subject to such program, except to the extent that such recourse is limited substantially to the same extent as under the Existing A/R Facility as in effect on the Closing Date; and provided, further, that any accounts receivable financing program shall cease to constitute an "Accounts Receivable Facility" in the event the attributes described in the foregoing proviso cease to exist with regard to such program.
Accounts Receivable Facility means that certain accounts receivable securitization facility pursuant to which certain subsidiaries of the Seller, including certain of the Stella Companies, have transferred their accounts receivable.
Accounts Receivable Facility means any accounts receivable financing program entered into by the Company and/or any of its Subsidiaries on terms customary for accounts receivable financings; provided, in each case, that there is no recourse thereunder against the Company or any of its Subsidiaries for any default by any account obligor in the payment of its obligations in connection with the accounts receivable subject to such program, except to the extent that such recourse is limited in a customary manner for facilities of such type; provided, further, that any accounts receivable financing program shall cease to constitute an “Accounts Receivable Facility” in the event the attributes described in the foregoing proviso cease to exist with regard to such program.
Accounts Receivable Facility means the receivables facility created pursuant to the Accounts Receivable Facility Documents; provided that the Accounts Receivable Facility may be extended, amended, modified, refinanced or replaced, or successively extended, amended, modified, refinanced or replaced after the Accounts Receivable Facility Transaction Date, so long as the Accounts Receivables Facility Amendment Conditions are satisfied (in which event the Accounts Receivable Facility, as so extended, amended, modified, refinanced or replaced, shall be deemed to be the Accounts Receivable Facility hereunder).
Accounts Receivable Facility means the program and the transactions in effect on the Issue Date pursuant to the following principal documents, each as in effect on the Issue Date, pursuant to which SRI Receivables Purchase Co., Inc. ("SRPC") has acquired and securitized Receivables originated by SRI: Receivables Purchase Agreement between SRI and SRPC; Pooling and Servicing Agreement among SRI, as servicer, SRPC, as transferor, and Bankers Trust (Delaware), as trustee; Series 1993-1 Supplement, Series 1933-2 Supplement and Series 1995-1 Supplement, each between SRPC, as transferor, and Bankers Trust (Delaware), as trustee; each related certificate purchase agreement and placement agent agreement; Indenture between SRPC, as issuer, and Bankers Trust (Delaware), as trustee and collateral agent; and Purchase Agreement between BT Securities Corp., SRPC and SRI, pertaining to 12.5% Trust Certificate-Backed Notes