NETF definition
Examples of NETF in a sentence
Second, pursuant to the terms of an Asset Purchase Agreement (the "APA"), NETF purchased $7,500,000 of the Company's other qualified accounts receivables (including services and products).
NETF shall provide financial assistance to DETFs and other similar community-based non-profit organizations, to match capital investments contributed towards the establishment of day secondary schools.
The Company has an obligation to repurchase accounts sold to NETF at a purchase price equal to the outstanding face amount of such account under certain conditions, which include, among others, if an account remains unpaid for a certain period of time.
In addition to the payment of the finance fee, as consideration for the product financing and vendor services provided by NETF, the Company shall also provide certain billing and collection services in connection with the purchased assets.
First, pursuant to the terms of an Asset Purchase and Liability Assumption Agreement (the "APLA"), NETF will finance certain of the Company's qualified product purchases, the Company will assign its accounts receivable resulting from the sale of such products to NETF, and NETF will assume liability for payment to product vendors.
As consideration for the product financing provided by NETF, the Company will pay NETF a finance and servicing fee calculated on a monthly basis depending on the Company's gross profit margin on such products, and days sales outstanding, which fee is expected to be less than the fees charged under the Company's prior financing arrangement with Textron.
The Borrower shall closely monitor the performance of NETF assisted secondary schools in accordance with performance indicators acceptable to the Association, to ensure that they conform to MOE’s prescribed standards for curriculum, teacher qualifications, school timetables, student-teacher ratios and school facilities.
In addition to the accounts receivable purchased on August 8, 2005, NETF may purchase up to 80% of the Company's additional qualified accounts receivable in the future on the same terms.
The Borrower shall, by June 30, 1991, establish NETF and appoint its Board, Secretariat and Technical Unit.