Factoring Arrangement. In the event Broker directs that the payment of compensation due under this Agreement be made to a third party, such direction will constitute the appointment of that third party as the agent of Broker, and payment to that agent will be payment to Broker. Such direction shall not however relieve Broker from its obligations under this Agreement to timely pay the Selected Carriers.
Factoring Arrangement. Assuming theturnover given in the problem is annual turnover, the calculations are as follows : Cost of factoring : Rs. Fee of 2% on 90% of Rs. 4,00,000 = 7,200 (80% of 60 lakhs = 48 lakhs/12 = 4 lakhs is the monthly credit sales) Commission at 4% on Rs. 4,00,000 = 16,000 23,200 Less : Savings in cost Savings in annual management cost is Rs. 21,600 Hence for a month : 21600/12 =Rs. 1,800 1% savings of Bad debts on Rs. 4,00,000 =Rs. 4,000 5,800 Net cost in factoring 17,400 Cost of Bank Advance : Interest at 18% p.a. for one month on 90% of Rs. 4,00,000 5,400 Processing fee at 2% on Rs. 4,00,000 8,000 Add : Bad debts loss that cannot be avoided 4,000 Since costs of both alternatives are equal, it is immaterial whether R. Ltd. goes in for factoring or bank loan. Note : Alternatively the same problem can be solved on a annual basis leading to the same total cost of Rs. 2,00,800. 288 Fiamamcia¬ MamagEmEmY & imYErmaYioma¬ FimamcE
Factoring Arrangement. As a material inducement to Midas' agreement to grant [CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE COMMISSION] terms to AutoZone, as provided in Subsection 1(e)(ii) above, AutoZone shall introduce Midas to a program whereby Midas may factor its account receivable from AutoZone under this Section 1 to such bank as AutoZone may specify, at a cost of LIBOR + [CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE COMMISSION] basis points and with the funding to occur within ten (10) calendar days of negotiation of the draft to the bank. If AutoZone fails to introduce Midas to a bank that will make such a factoring arrangement available to Midas (on the terms set forth in the preceding sentence), then the payment terms under Subsection 1(e)(ii) shall, instead, be net 30.
Factoring Arrangement. After the date hereof, the Company shall not draw down any further amounts under the Receivables Purchase and Security Agreement dated as of May 8, 2008 by and between the Company and LSQ Funding Group L.C. (the “Factoring Agreement”). The Company shall cause that certain Factoring Agreement to be paid in full and to terminate upon the expiration of its original six (6) month term, which shall be no later than November 9, 2008, and the Company shall deliver evidence thereof to the Purchasers promptly thereafter. Additionally, the Company shall not enter into any new accounts receivable factoring agreements prior to such time that the Purchasers have evidence that the appropriate financing statements under the UCC (as defined in the Security Agreement) and other necessary documents have been filed and recorded and other steps have been taken to perfect the Security Interests (as defined in the Security Agreement) in favor of such Purchasers in the Collateral (as defined in the Security Agreement).
Factoring Arrangement. That certain arrangement by and among the Belgian Coordination Center, the Borrower and certain of its Subsidiaries pursuant to which the Borrower or any such Subsidiary sells to the Belgian Coordination Center certain of its accounts receivable, all pursuant to the terms set forth in Annex 1 to the Financial Services Agreement. Fee Letter. The Fee Letter dated on or prior to the Closing Date among the Agent, the Documentation Agent and the Borrower, as the same may be amended, restated, supplemented and modified from time to time with the written consent of the parties thereto. Fleet. Fleet National Bank, a national banking association, in its individual capacity.
