Receivables Contract definition
Examples of Receivables Contract in a sentence
We hereby reserve Our right to bring this limitation or restriction to Your attention after the Receivables Contract has been entered without incurring any liability on Our part, and as such Our ability to fulfil the Receivables Contract is conditional on Us being able to receive funds froma proposed Payer or from a Payer’s country or denominated in a specific currency from the time the Receivables Contract is entered until the funds from the Payer have been received by Us.
However where We are prevented by such restriction from performing the Receivables Contract, We shall have no liability to You for any loss or damage You may incur as a result.
This creates a legal obligation on You to ensure that the Payer makes the Lodgement to conclude the Receivables Transaction, and in the event that there is a failure by the Payer to make the Lodgement in full and by the Settlement Date, this shall be a breach of Your obligations under the Receivables Contract.
TransferMate continually monitors these restrictions and makes reasonable efforts to notify You prior to entering the Receivables Transaction where the limit may impact on Our ability to perform the Receivables Contract.
The originals of all documents evidencing all Receivables, Contract Rights and Trade Secret Rights of the Obligor and the only original books of account and records of the Obligor relating thereto are, and will continue to be, kept at such chief executive office, and/or one or more of the other record locations set out on Schedule 4.1(d) or at such new locations as the Obligor may establish in accordance with the last sentence of this Section 4.1(d).
If notwithstanding the foregoing instructions, any Grantor receives any Proceeds of any Receivables Contract (except as permitted below with respect to the Specified Canadian Lock Box Account and the Excluded Cash Accounts), such Grantor shall receive such payments as the Administrative Agent’s trustee, and shall immediately deposit all cash, checks or other similar payments related to or constituting payments made in respect of Receivables Contracts received by it to a Collateral Account.
The Borrower will, and will cause each of its Subsidiaries to, comply in all material respects with the Restaurant Guidelines in regard to each Receivable and the related Receivables Contract.
Each Assumed Receivables Contract is, or as of the Cut-Off Time will be, in full force and effect, free and clear of all Liens other than Permitted Liens.
If notwithstanding the foregoing instructions, any Grantor receives any Proceeds of any Receivables Contract, such Grantor shall receive such payments as the Collateral Agent’s trustee, and shall immediately deposit all cash, checks or other similar payments related to or constituting payments made in respect of Receivables Contracts received by it to a Collateral Deposit Account.