CONDITIONS SPECIFIC TO ASSIGNMENT OF RECEIVABLES AS A GUARANTEE Sample Clauses

CONDITIONS SPECIFIC TO ASSIGNMENT OF RECEIVABLES AS A GUARANTEE. Assignments of receivables can also be used as a guarantee of the Client's obligations towards the Bank. These commitments can take the form of an advance or overdraft on the current account, the mobilisation of receivables by note or the financing of public or private contracts. Any assignment of receivables as security is subject to the general conditions of this Agreement and the special conditions. The receivables transferred are recovered by the Client on behalf of the Bank in accordance with the terms and conditions provided for in this Agreement. These receivables are allocated to the amortisation of the commitments in return for which their assignment has occurred. When the Bank grants an advance or a current account overdraft, it may condition this credit facility to assignments of receivables as guarantee at least equal, unless otherwise agreed, to 100% of the credit granted. If the Client intends, at each maturity date, to be entitled to the renewal of the advance or overdraft, they must reconstitute the amount of the agreed assigned receivables. These receivables will be used to amortise the advance or overdraft. In the absence of the normal settlement of the recovery of receivables from assigned debtors and their allocation to the amortisation of the Bank's credit facility, the Client shall, at the end of these debts, repay the debt resulting from this operation, either by amortising the advance or overdraft to the same extent, or by assigning one or more receivables of the same amount. It is only after this repayment that the assignment of the receivables due and unpaid by the principal debtor is resolved and that these receivables are re-transferred by right to the Client. In the event of financing by the Bank of public or private contracts of which the Client is the holder, the debts related to these markets and belonging to the Client are entirely assigned to the Bank as security and whatever the amount of the credits granted to this title. The assignments will relate to the principal, the interest and the accessories which will include in particular any supplements or price increases as a result of increase of work, revision and variation of price, as well as all indemnities due for any reason whatsoever. It is hereby more generally stated that any receivable assigned as security is not only for the purpose of one of the credits mentioned herein which may be concurrent with it, but also for all the Client's commitments of any kind whatsoe...
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Related to CONDITIONS SPECIFIC TO ASSIGNMENT OF RECEIVABLES AS A GUARANTEE

  • Continuing Nature of Representations and Warranties The representations and warranties set forth in this Section are made as of the Effective Date and deemed made continually throughout the Term. If at any time during the Term, any Party obtains actual knowledge of any event or information which causes any of the representations and warranties in this Article 7 to be materially untrue or misleading, such Party shall provide the other Party with written notice of the event or information, the representations and warranties affected, and the action, if any, which such Party intends to take to make the representations and warranties true and correct. The notice required pursuant to this Section shall be given as soon as practicable after the occurrence of each such event.

  • Assignment of Warranties Each Schedule is intended to be a true lease and operating lease as defined in Tex. Bus. & Comm. Code Article 2A. Lessor has acquired or will acquire the Assets in connection with this MOLA and hereby agrees to assign to Lessee any warranties provided to Lessor with respect to the Assets during the Term of the applicable Schedule, to the extent the warranties are assignable. Unless Lessor is the manufacturer or is otherwise liable under the Contract, Lessor shall not be liable for damages for any reason for any act or omission of the manufacturer of the Assets. Except as provided in Section 24 (“Remedies”) hereof, Lessee acknowledges that none of the following shall relieve Lessee from the obligations under this MOLA during the Schedule Term unless due to Lessor’s acts or omissions: (i) Lessee’s dissatisfaction with any unit of the Assets, (ii) the failure of an Asset to remain in useful condition for the Schedule Term, or (iii) the loss or right of possession of the Assets (or any part thereof) by Lessee. Lessee shall have no right, title or interest in or to the Assets except the right to use the same upon the terms and conditions herein contained. The Assets shall remain the sole and exclusive personal property of Lessor and not be deemed a fixture whether or not it becomes attached to any real property of Lessee.

  • Conditions Precedent to Seller’s Obligations The obligations of Seller to effect the Closing of the transactions contemplated hereby are subject to the fulfillment, prior to or at the Closing, of each of the following conditions, any of which may be waived in writing by Seller:

  • CONDITION SUBSEQUENT/NON-APPROPRIATION OF FUNDING The compensation paid to CONTRACTOR pursuant to this Agreement is based on COUNTY’S continued appropriation of funding for the purpose of this Agreement, as well as the receipt of local, county, state and/or federal funding for this purpose. The parties acknowledge that the nature of government finance is unpredictable, and that the rights and obligations set forth in this Agreement are therefore contingent upon the receipt and/or appropriation of the necessary funds. In the event that funding is terminated, in whole or in part, for any reason, at any time, this Agreement and all obligations of the COUNTY arising from this Agreement shall be immediately discharged. COUNTY agrees to inform CONTRACTOR no later than ten (10) calendar days after the COUNTY determines, in its sole judgment, that funding will be terminated and the final date for which funding will be available. Under these circumstances, all billing or other claims for compensation or reimbursement by CONTRACTOR arising out of performance of this Agreement must be submitted to COUNTY prior to the final date for which funding is available. In the alternative, COUNTY and CONTRACTOR may agree, in such circumstance, to a suspension or modification of either party's rights and obligations under this Agreement. Such a modification, if the parties agree thereto, may permit a restoration of previous contract terms in the event funding is reinstated. Also in the alternative, the COUNTY may, if funding is provided to the COUNTY in the form of promises to pay at a later date, whether referred to as “government warrants,” “IOUs,” or by any other name, the COUNTY may, in its sole discretion, provide similar promises to pay to the CONTRACTOR, which the CONTRACTOR hereby agrees to accept as sufficient payment until cash funding becomes available.

  • Retention or Repurchase of Assets Essential to Receiver (a) The Receiver may refuse to sell to the Assuming Institution, or the Assuming Institution agrees, at the request of the Receiver set forth in a written notice to the Assuming Institution, to assign, transfer, convey, and deliver to the Receiver all of the Assuming Institution's right, title and interest in and to, any Asset or asset essential to the Receiver as determined by the Receiver in its discretion (together with all Credit Documents evidencing or pertaining thereto), which may include any Asset or asset that the Receiver determines to be:

  • Conditions to Seller’s Obligations The obligations of Seller to consummate the transactions contemplated by this Agreement are subject to the satisfaction of the following conditions on or before the Closing Date:

  • ADMISSIBILITY OF REPRODUCTION OF CONTRACT Notwithstanding the best evidence rule or any other legal principle or rule of evidence to the contrary, the Contractor acknowledges and agrees that it waives any and all objections to the admissibility into evidence at any court proceeding or to the use at any examination before trial of an electronic reproduction of this contract, regardless of whether the original of said contract is in existence. EXHIBIT D NYSERDA PROMPT PAYMENT POLICY STATEMENT

  • Conditions Subsequent The obligation of the Lender Group (or any member thereof) to continue to make Revolving Loans (or otherwise extend credit hereunder) is subject to the fulfillment, on or before the date applicable thereto, of the conditions subsequent set forth on Schedule 3.6 to this Agreement (the failure by Borrowers to so perform or cause to be performed such conditions subsequent as and when required by the terms thereof (unless such date is extended, in writing, by Agent, which Agent may do without obtaining the consent of the other members of the Lender Group), shall constitute an Event of Default).

  • Scope of Representation The scope of representation shall be limited to matters relating to wages, hours of employment and other terms and conditions of employment as defined in Government Code Section 3543.2. Nothing herein may be construed to limit the right of the District to consult with CSEA on any matter outside of the scope of representation.

  • Customer Representations and Warranties Customer represents and warrants that it:

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