Single Accounts. (a) Transferred Receivables and liabilities of each French Seller towards the Factor (and vice-versa) which are reciprocal, connected and indivisible, shall be reflected as respective credit and debit items under the Current Accounts and shall therefore be subject to set-off when due for payment. The same rule shall apply in the event of the opening of Sub-Accounts in order to enhance the monitoring of the transactions made under the Agreement.
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Samples: Factoring Agreement, Factoring Agreement (Constellium Holdco B.V.), Factoring Agreement (Constellium Holdco B.V.)
Single Accounts. (a) Transferred Receivables and liabilities of each French Seller towards the Factor (and vice-versa) arising under the Transaction which are reciprocal, connected and indivisible, shall be reflected as respective credit and debit items under the Current Accounts and shall therefore be subject to set-off when due for payment. The same rule shall apply in the event of the opening of Sub-Accounts in order to enhance the monitoring of the transactions made under the Agreement.
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