Factoring Agreement definition
Examples of Factoring Agreement in a sentence
If the Common Owners agree (either in terms of the title deeds or, if the title deeds are silent, by a majority vote) to dismiss the Association as property factor then this Factoring Agreement will come to an end three months following the date of that decision or within such other time period as may be specified in the title deeds or agreed between the Common Owners and the Association.
Subject to anything in the title deeds to the contrary: - the Association shall be entitled to assign its rights under this Factoring Agreement to a third party to act as property factor should the Association, in its sole discretion, deem it appropriate; and the Association shall be entitled to nominate a third party from time to time to act on their behalf (as the Association's agent) in respect of the whole terms of this Factoring Agreement.
The Owner must make the incoming owner aware of this Factoring Agreement and the appointment of the Association as property factor.
Any notice, intimation or communication required to be given or sent under this Factoring Agreement shall be in writing and shall be delivered either personally or by recorded delivery post to the Association at their registered office or to the Owner at the Property or such alternative address as is formally intimated to the Association.
The Association will refund the factoring float to the Owner upon termination of this Factoring Agreement.