Common use of Appointment as Factor Clause in Contracts

Appointment as Factor. Client hereby appoints Factor to act as its non-exclusive factor. Client hereby agrees to assign and sell, and does hereby assign and sell, to Factor, and Factor hereby agrees to purchase certain of Client’s Receivables whether now existing or hereafter arising without any further act or instrument. For all purposes hereof, the term “Receivables” shall mean and include all accounts, contract rights, general intangibles, chattel papers, instruments, documents and all forms of obligations owing to Client arising from or out of the sale of merchandise and/or the rendition of services, all proceeds thereof, all Client’s: a) rights to merchandise represented thereby; b) rights under insurance policies covering merchandise or services; c) rights against carriers of said merchandise; and d) right, title, security interests and guarantees with respect to each Receivable, including all rights of replevin and reclamation and stoppage in transit and all other rights of an unpaid seller of merchandise or services.

Appointment as Factor. Client hereby appoints Factor to act as its non-exclusive sole factor. Client hereby agrees to assign and sell, and does hereby assign and sell, to Factor, and Factor hereby agrees to purchase certain all of Client’s 's Receivables whether now existing or hereafter arising without any further act or instrument. For all purposes hereof, the term “"Receivables” " shall mean and include all accounts, contract rights, general intangibles, chattel papers, instruments, documents and all forms of obligations owing to Client arising from or out of the sale of merchandise and/or the rendition of services, all proceeds thereof, all Client’s's: a) rights to merchandise represented thereby; b) rights under insurance policies covering cov ering merchandise or services; c) rights against carriers of said merchandise; and d) right, title, security interests and guarantees with respect to each Receivable, including all rights of replevin and reclamation and stoppage in transit and all other rights of an unpaid seller of merchandise or services.

Appointment as Factor. Client hereby appoints Factor to act as its non-exclusive sole factor. Client hereby agrees to assign and sell, and does hereby assign and sell, to Factor, and Factor hereby agrees to purchase certain all of Client’s 's Receivables whether now existing or hereafter arising without any further act or instrument. For all purposes hereof, the term “"Receivables” " shall mean and include all accounts, contract rights, general intangibles, chattel papers, instruments, documents and all forms of obligations owing to Client arising from or out of the sale of merchandise and/or the rendition of services, all proceeds thereof, all Client’s's: a) rights to merchandise represented thereby; b) rights under insurance policies covering merchandise or services; c) rights against carriers of said merchandise; and d) right, title, security interests and guarantees with respect to each Receivable, including all rights of replevin and reclamation and stoppage in transit and all other rights of an unpaid seller of merchandise or services.