Common use of Debt Factoring Clause in Contracts

Debt Factoring. 24.1. Subject to the Contractor obtaining the prior written consent of the Authority (using the Model Consent Letter which is available from the Authority on request) in accordance with DEFCON 518 (Transfer) the Contractor may assign to a third party (“the Assignee”) the right to receive payment of the Contract Price or any part thereof due to the Contractor under this Contract (including any interest incurred by the Authority under any Contract clause concerning the late payment of debts).

Debt Factoring. 24.1. 23.1 Subject to the Contractor obtaining the prior written consent of the Authority (using the Model Consent Letter which is available from the Authority on request) in accordance with DEFCON 518 (Transfer) the Contractor may assign to a third party (“the Assignee”) the right to receive payment of the Enabling Contract Price or any part thereof due to the Contractor under this Contract (including any interest incurred by the Authority under any Contract clause concerning the late payment of debts).

Debt Factoring. 24.123.1. Subject to the Contractor obtaining the prior written consent of the Authority (using the Model Consent Letter which is available from the Authority on request) in accordance with DEFCON 518 (Transfer) the Contractor may assign to a third party (“the Assignee”) the right to receive payment of the Contract Price or any part thereof due to the Contractor under this Contract (including any interest incurred by the Authority under any Contract clause concerning the late payment of debts).