FACTORING AGREEMENT Sample Clauses
A Factoring Agreement is a contractual arrangement in which a business sells its accounts receivable (invoices) to a third party, known as a factor, at a discount in exchange for immediate cash. Under this agreement, the factor assumes responsibility for collecting payments from the business’s customers, and may also provide additional services such as credit risk assessment or ledger management. The core practical function of a factoring agreement is to improve the business’s cash flow and liquidity by converting receivables into immediate funds, while also transferring the risk of non-payment to the factor.
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FACTORING AGREEMENT. Save as expressly provided herein to the contrary (including, in particular, in Clause 1.1.2 (Additional Definitions) below) and unless the context otherwise requires, capitalised words and expressions used in this Agreement shall have the meanings ascribed to them in the Factoring Agreement. PARIS-1-1108409-v5 -3- 80-40465510
FACTORING AGREEMENT. The Group is principally engaged in factoring related business in the PRC. The Directors consider that the Factoring Agreement was entered into on normal commercial terms and in the ordinary and usual course of business of the Group. Given that the Factoring Agreement is being conducted in the ordinary and usual course of business of Yueda Commercial Factoring, which will contribute profit to the Company over the financing term, are under normal commercial terms, and are beneficial to the Group in its business expansion and establishment of long term business relationship with Jianhu, the Directors are of the view that the terms of and the Factoring Agreement are fair and reasonable and are in the interests of the Company and Shareholders as a whole. As the highest applicable percentage ratio for the Company as calculated under Rule 14.07 of Listing Rules in relation to the Factoring Agreement exceeds 5% but is less than 25%, the entering into the Factoring Agreement constitutes a discloseable transaction for the Company under the Listing Rules and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.
FACTORING AGREEMENT. The Board hereby announces that on 28 September 2022, Yueda Commercial Factoring, an indirect wholly owned subsidiary of the Company, entered into Factoring Agreement, pursuant to which Yueda Commercial Factoring agreed to provide Accounts Receivable Services and granted revolving factoring financing credit limits to Guanhong Supply Chain and Guanhong Supply Chain is entitled to apply for accounts receivables transfer and factoring services. If Guanhong Supply Chain needs financing facility from Yueda Commercial Factoring, it will make an application for factoring services. If the credit assessment is to the satisfaction of Yueda Commercial Factoring, Yueda Commercial Factoring will grant the factoring financing within the revolving credit limit. The principal terms of the Factoring Agreement entered into between the Company and Guanhong Supply Chain are set out below: Date : 28 September 2022
FACTORING AGREEMENT. The Board hereby announces that on 12 August 2020, Yueda Commercial Factoring, an indirect wholly owned subsidiary of the Company, entered into Factoring Agreement, pursuant to which Yueda Commercial Factoring agreed to provide Accounts Receivable Services and granted factoring loan credit limits to Jianhu and Jianhu is entitled to apply for accounts receivables transfer and factoring services. If Jianhu needs financing facility from Yueda Commercial Factoring, it will make an application for factoring services. If the credit assessment is to the satisfaction of Yueda Commercial Factoring, Yueda Commercial Factoring will grant the factoring loan within the credit limit. The principal terms of the Factoring Agreement entered into between the Company and Jianhu are set out below:
FACTORING AGREEMENT. Any interest refund which is due the Company from Rockland Credit Finance, LLC (also known as, Webbank, Inc.) for period prior to Closing (the “Accrued Interest”) shall be assigned by the Company to Adamjee.
FACTORING AGREEMENT. The Board hereby announces that on 11 December 2020 (after trading hours), the Company entered into Factoring Agreement with the Factoring Bank and the Lessee, pursuant to which the Company has agreed to transfer the creditor’s rights and relevant rights of the undue Lease Receivables under Finance Lease Agreement to the Factoring Bank, and the Factoring Bank has agreed to receive such creditor’s rights and relevant rights of the Lease Receivables and to provide the Company with factoring facilities of RMB823,600,000 and non-recourse factoring services. The principal terms of the Factoring Agreement are summarized as follows:
FACTORING AGREEMENT. The Factoring Agreement with G-III shall be in full force and effect.
FACTORING AGREEMENT. Under the Factoring Agreement, there are (i) no outstanding amounts or obligations due and payable, (ii) no invoices issued or outstanding, (iii) no assets transferred and (iv), as of the Effective Date, no more than $4,300,000 cash is posted as collateral for the obligations.
FACTORING AGREEMENT. The buyer shall factor its invoices or account receivables with CIT as an approved factor by the seller.
FACTORING AGREEMENT. Amended and Restated Factoring Agreement, dated June 8, 2006, between Latin Node and Expocredit Corporation Collateral: Expocredit has a blanket lien on all of the assets of Latin Node including all accounts receivable and all inventory.