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High-Yield Provisions Accommodating a Receivables Subsidiary

Description: A receivables subsidiary is essentially a subsidiary designated by the board of directors with the sole function of financing accounts receivable. These sample clauses from a corporate finance agreement provide the necessary definitions and limitations related to a receivables subsidiary.
Form Type: Contract Clauses
Practice Area: Corporate & Securities

Date: Nov 2014
PLI Item #: 127894
Keywords: "receivables subsidiary"; "restricted subsidiary"; "accounts receivable"; "corporate finance"; "high-yield debt"; "asset disposition"; "permitted investments"; "securitization subsidiary"; "limitation on indebtedness"; "limitation on liens"; issuer; "restricted payments"; refinancing
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