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Factoring Arrangement Clause Examples

A Factoring Arrangement clause defines the terms under which a party sells its accounts receivable or invoices to a third party (the factor) at a discount in exchange for immediate cash. This clause typically outlines the scope of receivables covered, the process for transferring rights to payment, and the responsibilities of each party regarding collection and notification. Its core practical function is to provide liquidity to the seller by converting future receivables into present cash, while allocating the risk of non-payment to the factor.
Factoring Arrangement.ĚýIn the event Broker directs that the payment of compensation due under this Agreement be made to a third party, such direction will constitute the appointment of that third party as the agent of Broker, and payment to that agent will be payment to Broker. Such direction shall not however relieve Broker from its obligations under this Agreement to timely pay the Selected Carriers.
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Factoring Arrangement.ĚýThat certain arrangement by and among the Belgian Coordination Center, the Borrower and certain of its Subsidiaries pursuant to which the Borrower or any such Subsidiary sells to the Belgian Coordination Center certain of its accounts receivable, all pursuant to the terms set forth in Annex 1 to the Financial Services Agreement. Fee Letter. The Fee Letter dated on or prior to the Closing Date among the Agent, the Documentation Agent and the Borrower, as the same may be amended, restated, supplemented and modified from time to time with the written consent of the parties thereto. Fleet. Fleet National Bank, a national banking association, in its individual capacity.
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Factoring Arrangement.ĚýAs a material inducement to Midas' agreement to grant [CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE COMMISSION] terms to AutoZone, as provided in Subsection 1(e)(ii) above, AutoZone shall introduce Midas to a program whereby Midas may factor its account receivable from AutoZone under this Section 1 to such bank as AutoZone may specify, at a cost of LIBOR + [CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE COMMISSION] basis points and with the funding to occur within ten (10) calendar days of negotiation of the draft to the bank. If AutoZone fails to introduce Midas to a bank that will make such a factoring arrangement available to Midas (on the terms set forth in the preceding sentence), then the payment terms under Subsection 1(e)(ii) shall, instead, be net 30.
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Factoring Arrangement.ĚýAssuming theturnover given in the problem is annual turnover, the calculations are as follows : Cost of factoring : Rs.
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Factoring Arrangement.ĚýAfter the date hereof, the Company shall not draw down any further amounts under the Receivables Purchase and Security Agreement dated as of May 8, 2008 by and between the Company and LSQ Funding Group L.C. (the “Factoring Agreementâ€�). The Company shall cause that certain Factoring Agreement to be paid in full and to terminate upon the expiration of its original six (6) month term, which shall be no later than November 9, 2008, and the Company shall deliver evidence thereof to the Purchasers promptly thereafter. Additionally, the Company shall not enter into any new accounts receivable factoring agreements prior to such time that the Purchasers have evidence that the appropriate financing statements under the UCC (as defined in the Security Agreement) and other necessary documents have been filed and recorded and other steps have been taken to perfect the Security Interests (as defined in the Security Agreement) in favor of such Purchasers in the Collateral (as defined in the Security Agreement).
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Related to Factoring Arrangement

  • Monitoring Arrangements (i) Summary details of the service provided by the HR team will be monitored by the Service Provider and will be discussed with the Client as part of agreed annual review procedures; (ii) Any concerns arising on the part of the Client or Service Provider regarding the operation of this Agreement should be highlighted as soon as possible so that the matter causing concern can be addressed at the earliest opportunity.

  • Financing Arrangements (a) The Owner will obtain the Project Loan which shall be sufficient, together with the Owner's equity contributions, to pay the full amount of the costs to construct the Project in accordance with the development budget. The Owner and the Developer also contemplate that the Property and the Project, together with all fixtures, furnishing, equipment, and articles of personal property now owned or hereafter acquired by the Owner which are or may be attached to or used in connection with the Property or the Project, together with any and all replacements thereto and substitutions therefor, and all proceeds thereof; and all present and future rents, issues, leases, and profits of the Property and the Project will serve as security for the payment obligations to any lenders relating to the Project Loan or otherwise, and that the Owner will be the principal obligor for the repayment of all financial obligations thereunder after the transfer of title to the Owner. The Owner therefore, agrees to execute and deliver all commitments, promissory notes, mortgages, collateral assignments, documents, certificates, affidavits, and other writings required to be executed by any lender in connection with such financing.

  • Banking Arrangements The banking business of the Corporation including, without limitation, the borrowing of money and the giving of security therefor, shall be transacted with such banks, trust companies or other bodies corporate or organizations as may from time to time be authorized by the board. Such banking business or any part thereof shall be transacted under such agreements, instructions and delegations of powers as the board may from time to time prescribe or authorize.

  • Funding Arrangements Minimum amounts/increments for Japan Local Currency Borrowings, repayments and prepayments: Same as Credit Agreement.

  • Working Arrangements (i) The former industry practice whereby all Employees on site working in direct sunlight were relocated to shaded or air- conditioned areas when the temperature reached 32°C, will no longer operate. (ii) At temperatures below 35°C workers are not to be relocated out of direct sunlight unless the work environment creates a serious risk to their health and safety, having regard to the nature of the tasks being undertaken, provided that the task or activity being performed is completed and the penalty provisions as for emergency work under the Award shall apply. (iii) Once the temperature reaches 35°C work will cease, and workers may leave the site, provided that the task or activity being performed is completed and the penalty provisions as for emergency work under the Award shall apply. (iv) During periods of hot weather, work in air-conditioned environments shall continue as normal. Workers will walk a reasonable distance through the open to and from amenities and the air-conditioned workspace, provided it does not pose a serious threat to their health or safety. Alternatively, where the Employer can artificially ventilate covered spaces onsite and reduce the temperature to below 35°C, work may continue as normal subject to consultation and agreement with affected Employees to comply with the provisions of this clause. (v) By agreement with the OH&S committee and head contractor during periods of Inclement Weather (heat) the Saturday break roster can be applied to weekday work.