Asset Account. Outstanding amounts of Transferred Receivables are recorded as debit items under the Asset Account. Any payments related to Transferred Receivables are recorded as credit items under the Asset Account. For the avoidance of doubt, the Asset Account is not a Sub-Account.
Appears in 5 contracts
Samples: Factoring Agreement, Factoring Agreement (Constellium N.V.), Factoring Agreement (Tecumseh Products Co)
