The Master Receivables Purchase Agreement (MRPA) is utilized when businesses seek to monetize their receivables through repeated sales to financial institutions or other purchasers. This document, governed by Singapore law, provides a framework for multiple transfers without requiring new documentation for each sale. It includes detailed provisions on eligibility criteria, purchase price calculations, representations, and operational procedures. The MRPA is particularly relevant in Singapore's dynamic financial market, where receivables financing plays a crucial role in working capital management.
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1. Parties: Identification of the purchaser and seller, including registration details and addresses
2. Background: Context of the agreement, including the seller's business and nature of receivables
3. Definitions and Interpretation: Key terms used throughout the agreement including Eligible Receivables, Purchase Price, etc.
4. Sale and Purchase: Core provisions regarding the sale and assignment of receivables
5. Purchase Price and Payment: Calculation methodology and payment terms for purchased receivables
6. Eligibility Criteria: Criteria that receivables must meet to be eligible for purchase
7. Representations and Warranties: Standard and transaction-specific representations by parties
8. Covenants: Ongoing obligations of the parties
9. Events of Default: Circumstances constituting default and consequences thereof
10. Termination: Provisions for termination of the agreement and its consequences
11. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction provisions
1. Servicing Arrangements: Terms for collection and servicing of receivables when seller continues to service the receivables post-sale
2. Credit Enhancement: Additional security or support features when additional credit support is required
3. Information Rights: Specific provisions regarding information sharing and reporting requirements
4. Tax Provisions: Specific tax-related provisions and allocations of tax responsibilities
1. Form of Transfer Notice: Standard form for notifying purchase of specific receivables
2. Eligibility Criteria Schedule: Detailed criteria for acceptable receivables
3. Form of Servicer Report: Template for periodic reporting on receivables performance
4. Calculation of Purchase Price: Detailed methodology for price calculation
5. Form of Notice to Debtors: Template for notifying underlying debtors of the assignment
6. Powers of Attorney: Forms of powers of attorney for various purposes under the agreement
Relevant legal definitions
Acceptable Currency
Administration Fee
Advance Rate
Aggregate Outstanding Amount
Assignment
Available Facility Amount
Business Day
Collection Account
Collection Period
Collections
Cut-off Date
Default Rate
Defaulted Receivable
Delinquent Receivable
Dilution
Discount Rate
Eligible Debtor
Eligible Receivable
Encumbrance
Event of Default
Facility
Facility Limit
Face Value
Funding Cost
Initial Purchase Date
Insolvency Event
Lock-Box Account
Material Adverse Effect
Maximum Purchase Amount
Notice of Assignment
Obligor
Offer
Outstanding Purchase Price
Purchase Date
Purchase Price
Purchased Receivable
Receivable
Receivables Schedule
Related Rights
Repurchase Event
Repurchase Price
Reserve Account
Servicer Termination Event
Servicing Fee
Settlement Date
Termination Event
Transfer Notice
True Sale
Trust Account
Underlying Contract
Administration Fee
Advance Rate
Aggregate Outstanding Amount
Assignment
Available Facility Amount
Business Day
Collection Account
Collection Period
Collections
Cut-off Date
Default Rate
Defaulted Receivable
Delinquent Receivable
Dilution
Discount Rate
Eligible Debtor
Eligible Receivable
Encumbrance
Event of Default
Facility
Facility Limit
Face Value
Funding Cost
Initial Purchase Date
Insolvency Event
Lock-Box Account
Material Adverse Effect
Maximum Purchase Amount
Notice of Assignment
Obligor
Offer
Outstanding Purchase Price
Purchase Date
Purchase Price
Purchased Receivable
Receivable
Receivables Schedule
Related Rights
Repurchase Event
Repurchase Price
Reserve Account
Servicer Termination Event
Servicing Fee
Settlement Date
Termination Event
Transfer Notice
True Sale
Trust Account
Underlying Contract
Clauses
Sale and Purchase
Offer and Acceptance
Purchase Price and Payment
Eligibility Criteria
Conditions Precedent
Perfection Requirements
True Sale Provisions
Representations and Warranties
Servicing
Collections and Payments
Recourse
Security Interest
Covenants
Information Undertakings
Events of Default
Termination Events
Repurchase Obligations
Set-off
Confidentiality
Data Protection
Anti-Money Laundering
Notices
Assignment and Transfer
Amendments and Waivers
Severability
Counterparts
Governing Law
Dispute Resolution
Force Majeure
Costs and Expenses
Indemnification
Further Assurance
No Agency
Entire Agreement
Time of Essence
Offer and Acceptance
Purchase Price and Payment
Eligibility Criteria
Conditions Precedent
Perfection Requirements
True Sale Provisions
Representations and Warranties
Servicing
Collections and Payments
Recourse
Security Interest
Covenants
Information Undertakings
Events of Default
Termination Events
Repurchase Obligations
Set-off
Confidentiality
Data Protection
Anti-Money Laundering
Notices
Assignment and Transfer
Amendments and Waivers
Severability
Counterparts
Governing Law
Dispute Resolution
Force Majeure
Costs and Expenses
Indemnification
Further Assurance
No Agency
Entire Agreement
Time of Essence
Relevant Industries
Relevant Teams
Relevant Roles
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