Assignment of Factoring Proceeds definition

Assignment of Factoring Proceeds means any Assignment of Factoring Credit Balance and Proceeds Agreement among a Borrower, the Factor and Agent, in each case, in form and substance reasonably satisfactory to Agent, pursuant to which, among other things, the Factor (a) agrees not to make any loans or advances to such Borrower or any other Loan Party, or to guaranty on behalf of such Borrower or any other Loan Party any Indebtedness or other obligations, (b) agrees to waive the right of setoff against any Accounts (or proceeds thereof) of amounts owed by such Borrower or any other Loan Party to the Factor (or Factor’s other clients) arising out of claims or accounts receivable owed by such Borrower or any other Loan Party to such other clients of Factor or other third parties, and (c) agrees that, except with respect to Factored Accounts with respect to which the Factor pays the purchase price therefor in accordance with the terms of the Factoring Agreement and such Assignment of Factoring Credit Balance and Proceeds Agreement, the Factor has no ownership of or security interest in any Accounts of such Borrower.

Assignment of Factoring Proceeds means an assignment by the Borrower of the factoring proceeds payable to the Borrower pursuant to the terms of the Non-Notification Factoring Agreement, executed by the Borrower, the Collateral Agent, and the Factor.

Assignment of Factoring Proceeds means, the Assignment of Factoring Proceeds among Agent, Factor, and Borrower dated as of December 19, 2008, as such agreement may be supplemented, modified, amended, amended and restated, or replaced from time to time with the consent of Agent.

Examples of Assignment of Factoring Proceeds in a sentence

• G-III, CIT as Factor and Agent shall have entered into the Assignment of Factoring Proceeds Agreement, in form and substance satisfactory to Agent.

• Assignment of Factoring Proceeds and Intercreditor Agreement dated September 19, 2008 by and among The Singing Machine Company, Inc., SMC (Comercial Offshore De Macau) Limitada, Branch Banking and Trust Company, and DBS Bank (Hong Kong) Limited.

• As the aim of this research is to investigate the recovery process of water and sanitation facilities in disaster affected areas, using an example from Malawi, by looking at how the water and sanitation facilities are being reconstructed, by whom and when.

• The Borrowers, Factor, Collateral Agent and Revolving Loan Agent shall have executed and delivered the Assignment of Factoring Proceeds Agreement.

• Consider Approval of O and M fees for District No. 7 & Consider Approval of District #1 O & M Fee Increase.

More Definitions of Assignment of Factoring Proceeds

Assignment of Factoring Proceeds means the Assignment of Factoring --------------------------------- Proceeds dated the Closing Date between Borrower and Factor.

Assignment of Factoring Proceeds means, with respect to any Factoring Agreement, an assignment of factoring proceeds consented to in writing by the applicable Factor and otherwise in form and substance satisfactory to the Agent.

Assignment of Factoring Proceeds means the Assignment and Intercreditor Agreement, dated as of January 28, 2016, by and among Factor, Xxxxxx Xxxxxx Designs, LLC, Xxxxxx Clothing, LLC, ABL Lender and Agent.

Assignment of Factoring Proceeds means, (a) the Assignment of Factoring Proceeds among Agent, Initial Factor and Borrower dated as of the Closing Date and (b) on and after the date Borrower enters into a Factoring Agreement with a Factor other than Initial Factor, the Assignment of Factoring Proceeds and Intercreditor Agreement among Agent, such Factor and Borrower dated as of such date, which shall be in form and substance satisfactory to Agent in all respects.

Assignment of Factoring Proceeds means the Assignment of Factoring Proceeds dated July 26, 1996, by River Oaks, as agent for the Borrowers, and accepted and agreed to by the Agent and BNYFC, as the same may be amended, modified or supplemented from time to time.

Assignment of Factoring Proceeds means the Assignment of Factoring Proceeds (No Advances or Ledger Debt) dated as of July ___, 1997, between XXXX, the Factor and the Administrative Agent.

Assignment of Factoring Proceeds. AGREEMENT shall mean the Assignment of Factoring Proceeds dated as of the Closing Date, among Factor, CIT and the Company, pursuant to which, inter alia, the Company assigns and transfers to CIT all of its rights to the proceeds or monies due it under the Factoring Agreement.