MINIMUM FACTOR DISCOUNT. The Parties acknowledge that a minimum volume of receivable purchase and sale transactions per year is commercially necessary to warrant continued administration of this program by the Parties. Although this program is an uncommitted facility, for each of calculation the Parties agree to measure the minimum volume of transactions by measuring the minimum factor discount charged by Purchaser over the course of a year under the program. The minimum factor discount (which shall equal the sum of the Discount and the Additional Discount) will not be lower than 250,000 USO per year and shall be considered as a minimum factor discount calculated jointly for this Agreement and the Flexsys America L.P. Agreement, the Solutia Inc. Agreement, and the Xxxxxxx Chemical Ltd. Agreement together. This minimum factor discount is calculated from the start of every factoring year and is due for payment at the end of every factoring-year, factoring-year meaning every period of 12 months from the Effective Date as defined in this Agreement. The amount payable with respect to the minimum factor discount will be the difference between 250,000 USO and the sum of the Discounts and the Additional Discounts for all accounts receivable sold during the applicable factoring year. In the event either Party reasonably determines that the volume of receivable purchase transactions hereunder is unlikely to achieve the minimum factor discount for the year, either Party may give notice to terminate the program within ninety (90) days of the notice. In the event of a termination by either Party on account of low volume of receivables purchase activity, the minimum factor discount shall be prorated accordingly.
MINIMUM FACTOR DISCOUNT. The minimum discount (which shall equal the sum of the Discount and the Additional Discount) can never be lower than 100.000 EUR per year and shall be considered as a minimum discount calculated jointly for this Agreement and the Taminco US Agreement together. This minimum discount is claimable at the start of every factoring year and is due for payment at the end of every factoring-year, factoring-year meaning every period of 12 months from the Starting Date as defined in these Particular Conditions. The amount payable with respect to the minimum discount will be the difference between 100.000 EUR and the sum of the Discounts and the Additional Discounts for all accounts receivable sold during the applicable factoring year. Particular Conditions BNP Paribas Fortis Factor N.V. — Taminco B.V.B.A. Amended and Restated Non-Recourse Accounts Receivable Purchase Agreement BNP PARIBAS FORTIS FACTOR
MINIMUM FACTOR DISCOUNT. The minimum discount (which shall equal the sum of the Discount and the Additional Discount) can never be lower than 100.000 EUR per year and shall be considered as a minimum discount calculated jointly for this Agreement and the Taminco US Agreement together. This minimum discount is claimable at the start of every factoring year and is due for payment at the end of every factoring-year, factoring-year meaning every period of 12 months from the Starting Date as defined in these Particular Conditions. The amount payable with respect to the minimum discount will be the difference between 100.000 EUR and the sum of the Discounts and the Additional Discounts for all accounts receivable sold during the applicable factoring year.
