FACTORING AGREEMENT (CUSTOMER M) Background Sample Clauses

FACTORING AGREEMENT (CUSTOMER M) Background. On 9 January 2018 and 10 January 2018, SY Factoring entered into the Previous Agreements (Customer M) with Customer M, pursuant to which SY Factoring agreed to provide to Customer M i) financing being secured by either the accounts receivables of Customer M or the purchase orders entered into by Customer M as the vendor; ii) accounts receivable management services; and iii) accounts receivable collection services for a period of 2 years from the date of signing of the framework agreement. Pursuant to the Previous Agreements (Customer M), detailed terms of the factoring services to be provided by SY Factoring to Customer M were to be further agreed by the parties. Factoring Agreement (Customer M) The Board hereby announces that on 21 May 2018, pursuant to the Previous Agreements (Customer M), SY Factoring entered into the Factoring Agreement (Customer M) with Customer M pursuant to which SY Factoring granted to Customer M a revolving factoring loan credit limit of RMB100,000,000 at an annual interest rate of not more than 15% (including tax, the exact interest rate to be negotiated upon each drawdown) and a service fee of not more than 2% of the accounts receivable assigned (including tax, the exact service fee to be negotiated upon each drawdown) which would expire on 30 April 2019. The interest rate and the service fee were determined by the parties on arm’s length negotiation taking into account i) the credit rating of Customer M and the debtors of the accounts receivables provided by Customer M; ii) the credit period; and iii) the factoring was with recourse. If the credit limit was never utilized within 90 days by Customer M from the date of signing of the Factoring Agreement (Customer M), SY Factoring shall cease the provision of the credit limit to Customer M.
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Related to FACTORING AGREEMENT (CUSTOMER M) Background

  • END USER AGREEMENTS (“EUA H-GAC acknowledges that the END USER may choose to enter into an End User Agreement (“EUA) with the Contractor through this Agreement, and that the term of the EUA may exceed the term of the current H-GAC Agreement. H-GAC’s acknowledgement is not an endorsement or approval of the End User Agreement’s terms and conditions. Contractor agrees not to offer, agree to or accept from the END USER, any terms or conditions that conflict with those in Contractor’s Agreement with H-GAC. Contractor affirms that termination of its Agreement with H-GAC for any reason shall not result in the termination of any underlying EUA, which shall in each instance, continue pursuant to the EUA’s stated terms and duration. Pursuant to the terms of this Agreement, termination of this Agreement will disallow the Contractor from entering into any new EUA with END USERS. Applicable H-GAC order processing charges will be due and payable to H-GAC

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  • Data Processing Agreement The Data Processing Agreement, including the Approved Data Transfer Mechanisms (as defined in the Data Processing Agreement) that apply to your use of the Services and transfer of Personal Data, is incorporated into this Agreement by this reference. Each party will comply with the terms of the Data Processing Agreement and will train its employees on DP Law.

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  • Purchase Order Flip via Ariba Network (AN) The online process allows suppliers to submit invoices via the AN for catalog and non- catalog goods and services. Contractors have the ability to create an invoice directly from their Inbox in their AN account by simply “flipping” the purchase order into an invoice. This option does not require any special software or technical capabilities. For the purposes of this section, the Contractor warrants and represents that it is authorized and empowered to and hereby grants the State and the third-party provider of MFMP the right and license to use, reproduce, transmit, distribute, and publicly display within the system the information outlined above. In addition, the Contractor warrants and represents that it is authorized and empowered to and hereby grants the State and the third-party provider the right and license to reproduce and display within the system the Contractor’s trademarks, system marks, logos, trade dress, or other branding designation that identifies the products made available by the Contractor under the Contract.

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