Common use of Debt Factoring Clause in Contracts

Debt Factoring. a. Subject to the Contractor obtaining the prior written consent of the Authority in accordance with condition 11 (Assignment of Contract), the Contractor may assign to a third Party ("the Assignee") the right to receive payment of the Contract Price or any part thereof due to the Contractor under the Contract (including interest which the Authority incurred through late payment under the Late Payment of Commercial Debts (Interest) Act 1998 ("the Act")). Any assignment of the right to receive payment of the Contract Price (or any part thereof) under this condition 38 shall be subject to: (1) reduction of any sums in respect of which the Authority exercises its right of recovery under clause 36.f (2) all related rights of the Authority under the Contract in relation to the recovery of sums due but unpaid; and (3) the Authority receiving notification under both clauses 38.b and 38.c(2). b. In the event that the Contractor obtains from the Authority the consent to assign the right to receive the Contract Price (or any part thereof) under clause 38.a, the Contractor shall notify the Authority in writing of the assignment and the date upon which the assignment becomes effective. c. The Contractor shall ensure that the Assignee: (1) is made aware of the Authority's continuing rights under clauses 38.a(1) and 38.a(2); and (2) notifies the Authority of the Assignee's contact Information and bank account details to which the Authority shall make payment, subject to any reduction made by the Authority in accordance with clauses 38.a(1) and 38.a(2). d. The provisions of condition 36 (Payment and Recovery of Sums Due) shall continue to apply in all other respects after the assignment and shall not be amended without the prior approval of the Authority.

Debt Factoring. a. Subject to the Contractor obtaining the prior written consent of the Authority in accordance with condition 11 Condition 10 (Assignment of Contract), the Contractor may assign to a third Party ("“the Assignee"”) the right to receive payment of the Contract Price or any part thereof due to the Contractor under the Contract (including interest which the Authority incurred through late payment under the Late Payment of Commercial Debts (Interest) Act 1998 ("“the Act"”)). Any assignment of the right to receive payment of the Contract Price (or any part thereof) under this condition Condition 38 shall be subject to: (1) reduction of any sums in respect of which the Authority exercises its right of recovery under clause 36.f; (2) all related rights of the Authority under the Contract in relation to the recovery of sums due but unpaid; and (3) the Authority receiving notification under both clauses 38.b and 38.c(238.c.(2). b. In the event that the Contractor obtains from the Authority the consent to assign the right to receive the Contract Price (or any part thereof) under clause 38.a, the Contractor shall notify the Authority in writing of the assignment and the date upon which the assignment becomes effective. c. The Contractor shall ensure that the Assignee: (1) is made aware of the Authority's ’s continuing rights under clauses 38.a(138.a.(1) and 38.a(238.a.(2); and (2) notifies the Authority of the Assignee's ’s contact Information information and bank account details to which the Authority shall make payment, subject to any reduction made by the Authority in accordance with clauses 38.a(138.a.(1) and 38.a(238.a.(2). d. The provisions of condition Condition 36 (Payment and Recovery of Sums Due) shall continue to apply in all other respects after the assignment and shall not be amended without the prior approval of the Authority.

Debt Factoring. a. Subject to the Contractor obtaining the prior written consent of the Authority in accordance with condition Condition 11 (Assignment of Contract), the Contractor may assign to a third Party ("“the Assignee"”) the right to receive payment of the Contract Price or any part thereof due to the Contractor under the Contract (including interest which the Authority incurred through late payment under the Late Payment of Commercial Debts (Interest) Act 1998 ("“the Act"”)). Any assignment of the right to receive payment of the Contract Price (or any part thereof) under this condition Condition 38 shall be subject to: (1) reduction of any sums in respect of which the Authority exercises its right of recovery under clause 36.f ; (2) all related rights of the Authority under the Contract in relation to the recovery of sums due but unpaid; and and (3) the Authority receiving notification under both clauses 38.b and 38.c(238.c.(2). b. In the event that the Contractor obtains from the Authority the consent to assign the right to receive the Contract Price (or any part thereof) under clause 38.a, the Contractor shall notify the Authority in writing of the assignment and the date upon which the assignment becomes effective. c. The Contractor shall ensure that the Assignee: (1) is made aware of the Authority's ’s continuing rights under clauses 38.a(138.a.(1) and 38.a(238.a.(2); and (2) notifies the Authority of the Assignee's ’s contact Information information and bank account details to which the Authority shall make payment, subject to any reduction made by the Authority in accordance with clauses 38.a(138.a.(1) and 38.a(238.a.(2). d. The provisions of condition Condition 36 (Payment and Recovery of Sums Due) shall continue to apply in all other respects after the assignment and shall not be amended without the prior approval of the Authority.

Debt Factoring. a. Subject to the Contractor obtaining the prior written consent of the Authority in accordance with condition 11 (Assignment of Contract), the Contractor may assign to a third Party ("“the Assignee"”) the right to receive payment of the Contract Price or any part thereof due to the Contractor under the Contract (including interest which the Authority incurred through late payment under the Late Payment of Commercial Debts (Interest) Act 1998 Xxx 0000 ("“the Act"”)). Any assignment of the right to receive payment of the Contract Price (or any part thereof) under this condition 38 shall be subject to: (1) reduction of any sums in respect of which the Authority exercises its right of recovery under clause 36.f (2) all related rights of the Authority under the Contract in relation to the recovery of sums due but unpaid; and (3) the Authority receiving notification under both clauses 38.b and 38.c(2). b. In the event that the Contractor obtains from the Authority the consent to assign the right to receive the Contract Price (or any part thereof) under clause 38.a, the Contractor shall notify the Authority in writing of the assignment and the date upon which the assignment becomes effective. c. The Contractor shall ensure that the Assignee: (1) is made aware of the Authority's ’s continuing rights under clauses 38.a(1) and 38.a(2); and (2) notifies the Authority of the Assignee's ’s contact Information and bank account details to which the Authority shall make payment, subject to any reduction made by the Authority in accordance with clauses 38.a(1) and 38.a(2). d. The provisions of condition 36 (Payment and Recovery of Sums Due) shall continue to apply in all other respects after the assignment and shall not be amended without the prior approval of the Authority.

Debt Factoring. a. Subject to the Contractor obtaining the prior written consent of the Authority in accordance with condition 11 (Assignment of Contract), the Contractor may assign to a third Party ("the Assignee") the right to receive payment of the Contract Price or any part thereof due to the Contractor under the Contract (including interest which the Authority incurred through late payment under the Late Payment of Commercial Debts (Interest) Act 1998 Xxx 0000 ("the Act")). Any assignment of the right to receive payment of the Contract Price (or any part thereof) under this condition 38 shall be subject to: (1) reduction of any sums in respect of which the Authority exercises its right of recovery under clause 36.f (2) all related rights of the Authority under the Contract in relation to the recovery of sums due but unpaid; and (3) the Authority receiving notification under both clauses 38.b and 38.c(2). b. In the event that the Contractor obtains from the Authority the consent to assign the right to receive the Contract Price (or any part thereof) under clause 38.a, the Contractor shall notify the Authority in writing of the assignment and the date upon which the assignment becomes effective. c. The Contractor shall ensure that the Assignee: (1) is made aware of the Authority's continuing rights under clauses 38.a(1) and 38.a(2); and (2) notifies the Authority of the Assignee's contact Information and bank account details to which the Authority shall make payment, subject to any reduction made by the Authority in accordance with clauses 38.a(1) and 38.a(2). d. The provisions of condition 36 (Payment and Recovery of Sums Due) shall continue to apply in all other respects after the assignment and shall not be amended without the prior approval of the Authority.

Debt Factoring. a. Subject to the Contractor obtaining the prior written consent of the Authority in accordance with condition 11 (Assignment of Contract), the Contractor may assign to a third Party ("“the Assignee"”) the right to receive payment of the Contract Price or any part thereof due to the Contractor under the Contract (including interest which the Authority incurred through late payment under the Late Payment of Commercial Debts (Interest) Act 1998 Xxx 0000 ("“the Act"”)). Any assignment of the right to receive payment of the Contract Price (or any part thereof) under this condition 38 shall be subject to: (1) reduction of any sums in respect of which the Authority exercises its right of recovery under clause 36.f0; (2) all related rights of the Authority under the Contract in relation to the recovery of sums due but unpaid; and (3) the Authority receiving notification under both clauses 38.b and 38.c(2). b. In the event that the Contractor obtains from the Authority the consent to assign the right to receive the Contract Price (or any part thereof) under clause 38.a, the Contractor shall notify the Authority in writing of the assignment and the date upon which the assignment becomes effective. c. The Contractor shall ensure that the Assignee: (1) is made aware of the Authority's ’s continuing rights under clauses 38.a(1) and 38.a(2); and (2) notifies the Authority of the Assignee's ’s contact Information and bank account details to which the Authority shall make payment, subject to any reduction made by the Authority in accordance with clauses 38.a(1) and 38.a(2). d. The provisions of condition 36 (Payment and Recovery of Sums Due) shall continue to apply in all other respects after the assignment and shall not be amended without the prior approval of the Authority.

Debt Factoring. a. Subject to the Contractor obtaining the prior written consent of the Authority in accordance with condition 11 (Assignment of Contract), the Contractor may assign to a third Party ("“the Assignee"”) the right to receive payment of the Contract Price or any part thereof due to the Contractor under the Contract (including interest which the Authority incurred through late payment under the Late Payment of Commercial Debts (Interest) Act 1998 Xxx 0000 ("“the Act"”)). Any assignment of the right to receive payment of the Contract Price (or any part thereof) under this condition 38 shall be subject to: (1) : reduction of any sums in respect of which the Authority exercises its right of recovery under clause 36.f (2) ; all related rights of the Authority under the Contract in relation to the recovery of sums due but unpaid; and (3) and the Authority receiving notification under both clauses 38.b and 38.c(2). b. . In the event that the Contractor obtains from the Authority the consent to assign the right to receive the Contract Price (or any part thereof) under clause 38.a, the Contractor shall notify the Authority in writing of the assignment and the date upon which the assignment becomes effective. c. . The Contractor shall ensure that the Assignee: (1) : is made aware of the Authority's ’s continuing rights under clauses 38.a(1) and 38.a(2); and (2) and notifies the Authority of the Assignee's ’s contact Information and bank account details to which the Authority shall make payment, subject to any reduction made by the Authority in accordance with clauses 38.a(1) and 38.a(2). d. . The provisions of condition 36 (Payment and Recovery of Sums Due) shall continue to apply in all other respects after the assignment and shall not be amended without the prior approval of the Authority.