Bills of exchange. None of the Originators or the Servicers shall draw any xxxx of exchange in connection with a relevant Purchased Receivable, nor demand or receive from any Obligor, or otherwise permit the creation by any Obligor of, any promissory note or any other instrument for which the applicable law requires additional formalities for the transfer in connection with a relevant Purchased Receivable, except if such bills of exchange, promissory notes or other instrument have been delivered simultaneously with their creation to the relevant Servicer to allow it to collect their payment at maturity. Upon the occurrence of a Credit Enhancement Event, the relevant Servicer shall ensure that all outstanding bills of exchange and promissory notes are endorsed to the Purchaser on behalf and at the expenses of the relevant Originator.
Bills of exchange. Upon request of a New Lender, the Borrower shall accept bills of exchange issued by the New Lenders in the amount and number required for the OeKB Refinancing. Upon such acceptance by the Borrower, the Agent shall use reasonable efforts that OeKB invalidates the bills of exchange issued by the Existing Lender replaced by the New Lender. Upon return of bills of exchange invalidated by OeKB to the Finance Parties, such bills of exchange shall be returned to the Borrower.
Bills of exchange. Time Drafts- Bills of exchange or time drafts drawn on and accepted by commercial banks, otherwise known as banker's acceptances. Purchase of banker's acceptances may not exceed 180 days maturity or 40% of the cost value of the portfolio. Furthermore, no more than 30% of the cost value of the portfolio may be invested in the banker's acceptances of any one commercial bank.
Bills of exchange. Bank and bankers' acceptance and other bills of exchange of the kind and maturities made eligible by law for purchase in the open market by federal reserve banks. Bonds Secured by Mortgage or Deed on US Property. Bonds or other debt secured by first mortgages or deeds of trust on unencumbered fee-simple or improved leasehold real property located in the United States and otherwise meeting the requirements of Section 5-608(j). Except as otherwise provided in Section 5-608, an insurer may not invest in or loan on the security of any one property more than the greater of $25,000 or 2% of its total admitted assets. The total investments of an insurer under this paragraph may not exceed 40% of its total admitted assets. Bonds Secured by Mortgages Guaranteed by the US. Xxxxx, notes or other debt secured by mortgages or deeds of trust that are guaranteed or insured by an instrumentality of the United States under the National Housing Act, Xxxxxxxxxx's Readjustment Act of 1944, or Xxxxxxxx-Xxxxx Farm Tenant Act. Stock or Debentures of Housing Authority. Stock or debentures or both of a housing authority organized under the housing law of Maryland, to the extent and on the conditions that the Commissioner authorizes, if all of the stock of the housing authority has been or will be issued to one or more insurers. Investments in Savings and Loan Association. Shares or deposits in a savings and loan association or building and loan association to the extent that the investment or account is insured by the Federal Deposit Insurance Corporation.
Bills of exchange. Based on the idea mentioned previously, bills of exchange have been used as payment instruments for a long time in order to enable an exporter through discounting to obtain cash before the debt falls due. The bill of exchange (like the bill of lading) has its roots in lex mercatoria, but is now subject to legislation in many countries. Such legislation is in many cases based on the Geneva Convention on the Unification of the law related to Bills of Ex- change,20 but as far as English law is concerned the situation is different, and here the Bill of Exchange Act of 1882 as amended has developed out of com- mon law.21 The Swedish legislation, Växellagen (1932:130) is based on the convention. The bill of exchange is a “negotiable” document,22 and the idea is that it 19 Like in most international trade finance the structure is normally based on an underlying transaction (a sales agreement) to which several other contracts will be connected, such as carriage, insurance and finance (sometimes a letter of credit). The finance part may involve various tools in order to arrange payment for the exporter through various pay- ment methods. This is also where e.g. forfaiting may come into the picture by opening up for the transfer of a debt. In his book Factoring. The law and practice of invoice finance, 3rd ed. London 1999 on p. 222 Xxxxxxxx refers to various ways of creating financing through the purchase of debt or the use of debt as security. He there also compares superficially factoring with leasing, block discounting and forfaiting as “other arrangements of similar nature”. See also Guild & Xxxxxx, Forfaiting, An alternative approach to trade financing, New York 1986 (but a later version has also been published), Xxxxxxxx’s sale of goods, (gen. ed. M. Bridge), 8th ed. London 2012 par. 22 – 072, Bridge, The international sale of goods. Law and practice. 2. ed. London 2007 i.a. 6.16 and Schmitthoff ’s Export trade, p. 269 et seq.
Bills of exchange. Bills of Exchange of the Borrower pursuant to Section 2.05 of this Article shall be issued in the form issued by the Banks' Association of Slovenia and the power of authority for completion shall be issued in form and substance set forth in Schedule No. 2. The Borrower shall immediately upon request of the Agent replace or reissue bills of exchange, which have been used in accordance with the power of authority for completion or were destroyed. Each of the Banks by signing this agreement authorises and orders the Agent to safe-keep the bills of exchange for the account of all Banks and to cash-in (in its own name and on behalf of the Banks) in accordance with the power of authority for completion, the bills of exchange to the debit of money funds of the Borrower kept with whichever bank or other institution authorised to perform payments in SIT or in foreign currency in the Republic of Slovenia and to apply such funds in accordance with the provisions of Article V hereof. If such funds are in foreign currency, the exchange rate used by the Agent for purchase of foreign exchange from legal entities, shall be applied for calculation of tolars.
Bills of exchange. The Bank shall not be held liable in case of a payment prohibition on a bill of exchange.
Bills of exchange a) If the CLIENT, in its Terms of Payment, provides the acceptance of a xxxx of exchange or if COMFIN sets the acceptance of a xxxx of exchange by the Debtor as a condition for a Credit Decision pursuant to Article 6.2 i), it is the CLIENT’s duty to create the xxxx of exchange and have it accepted.
b) The bills of exchange shall always be created to the order of COMFIN or be immediately endorsed to the order of COMFIN. The CLIENT irrevocably mandates COMFIN for the full term of the Agreement to endorse bills of exchange to COMFIN or complete an incomplete endorsement.
c) COMFIN will credit any and all bills of exchange to COMFIN in the C/A, subject to effective Collection.
Bills of exchange cheques and other papers
