Management of Receivables Sample Clauses

Management of Receivables. Owner will use all commercially reasonable efforts to collect accounts receivable of the Business, as well as those outstanding with respect to the Business as of the Commencement Date. To the extent Operator engages in any transaction where any portion of the accounts receivable is not received by Operator within seven days of the sale, Operator will charge that party interest commencing on the seventh day following the related sale for which the account receivable has been created, at the rate of the prime rate (as set forth in The Wall Street Journal on the first business day of each month) plus 1.5%, provided that Operator in its reasonable discretion may waive interest charges that are not material.
Sample 1
AutoNDA by SimpleDocs
Management of Receivables. Upon Assignment of the Receivables, JMRF, as the sole and absolute owner of the Receivables, and therefore having assumed the risk of nonpayment thereof based solely upon the Account Debtor(s) financial inability to pay, shall have the exclusive authority to collect each Receivable, to bring proceedings for collection in JMRF's or Ocurest's name, to exercise all right of Ocurest to stoppage in transit, replevin, reclamation, or otherwise, and in JMRF's sole discretion, to settle, compromise or assign any of the Receivables. In the event that Ocurest receives payment in any form upon any receivable, Ocurest shall be deemed to hold same in trust for JMRF and shall immediately deliver same to JMRF. JMRF may contact Account Debtor(s) to give notice, written or otherwise, that Receivables have been purchased and assigned by Ocurest to JMRF, and that payment thereon shall be made directly to JMRF. JMRF may affix (or require that Ocurest affix) labels, stickers, or stamps on the face of all invoices, bills, notices, statements, and shipping documents relating to Receivables sold to JMRF stating that the have been sold and assigned to JMRF and are payable only to JMRF. JMRF shall have the right to receive and open all mail addressed to Ocurest or Ocurest's trade name at JMRF's address and do any and all things reasonably necessary and proper to carry out the purpose and intent of this Agreement. Ocurest shall not make or attempt to make any modification, amendment or change in the terms of subsequent accounts receivable from any Account Debtor(s) from those currently in practice on the date hereof without JMRF's prior written consent.
Sample 1
Management of Receivables a) Opening of debit accounts Prior to the activation of the financing line, and no more than once a week, the Client shall transmit to ABN AMRO COM FIN the file meeting the requirements defined in the specifications document appended to this Agreement (Appendix 1) of all debtors included in the application scope, referred to in article 1, including the following information: - Debtor’s account number in the AR Subledger - Debtor’s company name - Debtor’s Siren number - Debtor’s address and telephone number The Siren number supplied by the Client shall exclusively prevail for identification of the debtor. Debtors benefiting from an outstanding credit granted by the Client and approved by ABN AMRO COM FIN at the date of the audit prior to the signing of the Agreement shall benefit from a credit approval up to that amount. New debtors for whom the outstanding amount is inferior or equal to €80,000 (eighty thousand euros) shall automatically benefit from a default credit approval of €80,000 (eighty thousand euros). For any new outstanding amount above €80,000 (eighty thousand euros) on a private debtor, the Client shall transmit to ABN AMRO COM FIN all non-confidential information in its possession allowing ABN AMRO COM FIN to assess the solvency. For debtors whose credit limit is above €80,000 (eighty thousand euros), ABN AMRO COM FIN undertakes to send the Client the approval granted within 2 (two) working days maximum following the communication of the information from the client. If non-confidential information in its possession is not communicated, the approval shall be deemed to be refused. ABN AMRO COM FIN may decide at any time to reduce or terminate acceptance of debtors whose outstanding is above €80,000 (eighty thousand euros), in which case it shall inform the Client of its decision by any means and at the best delays. Such decisions shall have immediate effect, although receivables corresponding to services rendered before the date on which the Client received notice shall continue to be accepted. The Client acknowledges that ABN AMRO COM FIN’s decisions concerning acceptance are intended for it alone, and agrees not to disclose them to any third party, including the relevant debtors.
Sample 1
Management of Receivables. 7.1 Receivables will be managed in accordance with the Procedures.
Sample 1
Management of Receivables 
Sample 1

Related to Management of Receivables

  • Collection of Receivables Except as otherwise provided in this Security Agreement, such Grantor will collect and enforce, at such Grantor’s sole expense, all amounts due or hereafter due to such Grantor under the Receivables owned by it.

  • Purchase of Receivables (a) Effective on the date hereof, in consideration for the Purchase Price and upon the terms and subject to the conditions set forth herein, Originator does hereby sell, assign, transfer, set-over and otherwise convey to Buyer, without recourse (except to the extent expressly provided herein), and Buyer does hereby purchase from Originator, all of Originator's right, title and interest in and to all Receivables existing as of the close of business on the Business Day immediately prior to the date hereof and all Receivables thereafter arising through and including the Termination Date, together, in each case, with all Related Security relating thereto and all Collections thereof. In accordance with the preceding sentence, on the date hereof Buyer shall acquire all of Originator's right, title and interest in and to all Receivables existing as of the close of business on the Business Day immediately prior to the date hereof and thereafter arising through and including the Termination Date, together with all Related Security relating thereto and all Collections thereof. Buyer shall be obligated to pay the Purchase Price for the Receivables purchased hereunder in accordance with Section 1.2. In connection with consummation of the Purchase Price for any Receivables purchased hereunder, Buyer may request that Originator deliver, and Originator shall deliver, such approvals, opinions, information, reports or documents as Buyer may reasonably request.

  • Sale of Receivables Each of the Seller and the Depositor is, as of the time of the transfer to the Purchaser of each Receivable being sold to the Purchaser by it hereunder on the Closing Date, the sole owner of such Receivable free from any Lien other than those released at or prior to such transfer. There is no effective financing statement (or similar statement or instrument of registration under the law of any jurisdiction) now on file or registered in any public office filed by or against any Originator, the Seller or any Subsidiary of any Originator or the Seller or purporting to be filed on behalf of any Originator, the Seller or any Subsidiary of any Originator or the Seller covering any interest of any kind in any Contracts and related Receivables and any Originator and the Seller will not execute nor will there be on file in any public office any effective financing statement (or similar statement or instrument of registration under the laws of any jurisdiction) or statements relating to such Contracts and related Receivables, except (i) in each case any financing statements filed in respect of and covering the purchase of the Contracts and related Receivables by the Purchaser or filed in connection with the Transaction Documents and (ii) financing statements for which a release of Lien has been obtained or that has been assigned to the Purchaser or the Trustee. All filings and recordings (including pursuant to the UCC) required to perfect the title of the Purchaser in each Contract or related Receivable sold hereunder have been accomplished and are in full force and effect, or will be accomplished and in full force and effect prior to the time required in clause (iii) of Section 3.1, and the Seller shall at its expense perform all acts and execute all documents necessary or reasonably requested by the Purchaser, the Receivables Trust, the Issuer or the Trustee at any time and from time to time to evidence, perfect, maintain and enforce the title or the security interest of the Purchaser or the Receivables Trust in the Contracts and related Receivables and the priority thereof.

  • Repurchase of Receivables In the event of a breach of any representation or warranty set forth on Exhibit A which materially and adversely affects the interests of the Issuer or the Securityholders and unless the breach shall have been cured by the last day of the second Collection Period following the Collection Period in which the discovery of the breach is made or notice is received, as the case may be (or, at the option of the RPA Seller, the last day in the first Collection Period following the Collection Period in which such discovery is made), the RPA Seller shall repurchase such Receivable. In consideration of the purchase of any such Receivable, on the related Payment Date, the RPA Seller shall remit an amount equal to the Warranty Purchase Payment in respect of such Receivable to the Purchaser and shall be entitled to receive the Released Warranty Amount. Upon any such repurchase, each of the Purchaser and the Issuer shall, without further action, be deemed to transfer, assign and otherwise convey to the RPA Seller, without recourse, representation or warranty, all the right, title and interest of either the Purchaser or the Issuer in, to and under such repurchased Receivable, all monies due or to become due with respect thereto and all proceeds thereof. The Purchaser, the Issuer, the Owner Trustee, the Delaware Trustee or the Indenture Trustee, as applicable, shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested by the RPA Seller to effect the conveyance of such Receivable pursuant to this Section. The sole remedy of the Purchaser, the Issuer, the Trustees or the Securityholders with respect to a breach of the RPA Seller’s representations and warranties pursuant to Section 2.03(a) shall be to require the RPA Seller to repurchase the related Receivables pursuant to this Section.

  • Nature of Receivables Each of the Receivables shall be a bona fide and valid account representing a bona fide indebtedness incurred by the Customer therein named, for a fixed sum as set forth in the invoice relating thereto (provided immaterial or unintentional invoice errors shall not be deemed to be a breach hereof) with respect to an absolute sale or lease and delivery of goods upon stated terms of a Borrower, or work, labor or services theretofore rendered by a Borrower as of the date each Receivable is created. Same shall be due and owing in accordance with the applicable Borrower’s standard terms of sale without dispute, setoff or counterclaim except as may be stated on the accounts receivable schedules delivered by Borrowers to Agent.

  • Collection of Receivable Payments The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection procedures as it follows with respect to all comparable motor vehicle receivables (including automobiles and light-duty trucks) that it services for itself or others. The Servicer shall be authorized to grant extensions, rebates or adjustments on a Receivable without the prior consent of the Issuer. If, as a result of the extending of payments in accordance with the customary servicing standards of the Servicer, any Receivable will be outstanding later than the Final Scheduled Maturity Date, the Servicer shall be obligated to repurchase such Receivable pursuant to Section 3.08. In addition, in the event that any such rescheduling or extension of a Receivable modifies the terms of such Receivable in such a manner as to constitute a cancellation of such Receivable and the creation of a new motor vehicle receivable (including automobiles and light-duty trucks) that results in a deemed exchange thereof within the meaning of Section 1001 of the Code, the Servicer shall purchase such Receivable pursuant to Section 3.08, and the receivable created shall not be included in Collateral held by the Issuer. Notwithstanding the foregoing, extensions or modifications of the payment schedule of a Receivable can be made only in accordance with the customary servicing procedures of the Servicer, provided that the amount of any extension fee charged in connection with the extension of a Receivable is deposited into the Collection Account by the Servicer in accordance with Section 4.05(a). The Servicer may, in accordance with its customary servicing procedures, waive any prepayment charge, late payment charge or any other fees that may be collected in the ordinary course of servicing the Receivables.

  • Transfer of Receivables Pursuant to the Sale and Servicing Agreement, the Purchaser will assign all of its right, title and interest in, to and under the Receivables and other assets described in Section 2.1

Time is Money Join Law Insider Premium to draft better contracts faster.