Trade Credit Sample Clauses
The Trade Credit clause establishes the terms under which one party extends credit to another for the purchase of goods or services, allowing payment to be made at a later date rather than upfront. Typically, this clause outlines the credit limit, payment period (such as net 30 or net 60 days), and any applicable interest or penalties for late payment. By clearly defining these terms, the clause facilitates smoother business transactions by providing buyers with flexibility in managing cash flow while protecting the seller’s interests through agreed-upon credit conditions.
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Trade Credit. Unsecured trade credit extended in the ordinary course of business.
Trade Credit. The Company and its Subsidiaries shall not allow, in the aggregate, more than the Trade Credit Limit of trade accounts payable (net of commissions due) to be more than 60 days past due at any time. For purposes hereof, the "Trade Credit Limit" shall mean (i) during the months from January through July (inclusive), $300,000, and (ii) during the months from August through December (inclusive), $150,000."
Trade Credit. The Company and its Subsidiaries shall not allow, in the aggregate, more than $150,000 of trade accounts payable (net of commissions due) to be more than 60 days past due at any time.
Trade Credit. All undisputed outstanding trade credit must be reasonably paid to date within the respective terms of each vendor as agreed to by the Borrower or provisions for the payment thereof reasonably satisfactory to the Administrative Agent shall have been made.
Trade Credit. Obtain credit from suppliers during the Cases, as tested by the Dollar amount of trade accounts payable which are within their terms, of not less than the amounts set forth on Schedule 6.11;
Trade Credit. The terms and conditions of the trade credit provided by the Group to VSC-Ryerson China Group as set out in the IRA shall be deleted and amended. The amended provisions regarding the Trade Credit set out in the Second Supplemental Agreement are summarized below. Commencing from the date of the Shareholders’ approval and until the time when VSC- Ryerson China Group or Ryerson is able to secure new banking facilities for an aggregate amount of not less than US$18.5 million (equivalent to approximately HK$144.3 million) for the VSC-Ryerson China Group’s inventory purchase (the ‘‘Aggregate Banking Facilities’’), the Group shall provide to the VSC-Ryerson China Group the Trade Credit with a limit equal to the difference between the Aggregate Banking Facilities obtained from time to time and US$18.5 million (equivalent to approximately HK$144.3 million) solely for the inventory purchase by members of the VSC-Ryerson China Group in the PRC and Hong Kong from the Group. Upon the Group’s delivery of inventory purchased by the VSC-Ryerson China Group in the manner specified in the relevant purchase order, the amounts due and payable by the VSC-Ryerson China Group for the inventory purchased is deemed to form part of the utilization of the Trade Credit (the ‘‘Deemed Trade Credit Utilized’’). Each Deemed Trade Credit Utilized shall be due and payable 120 days from the relevant date of such delivery of the inventory purchased. In the event that all the outstanding Deemed Trade Credit Utilized (plus all the interest accrued thereon) in aggregate exceed the Trade Credit from time to time, VSC-Ryerson China shall, upon prior written notice given by the Group, pay the Group an amount not less than the excess of the aggregate outstanding balance over the Trade Credit. The Deemed Trade Credit Utilized shall bear interest (from and including the date on which the inventory is delivered and up to and including the date of repayment) at a rate equal to the applicable LIBOR plus 1.75% or the cost of funds to the Group, whichever is higher (but in any case not to exceed LIBOR plus 2.75%), to be payable by VSC-Ryerson China to the Group on a monthly basis in arrears. The Directors are of the opinion that the Trade Credit is only a credit limit on trade receivable from the VSC-Ryerson China Group to be arisen from the inventory purchase by members of the VSC-Ryerson China Group in the PRC and Hong Kong from the Group upon the Shareholders’ approval on the Second Supplemental Agreem...