Payment of Accounts. 7.1 All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer's account. In exchange for such application, we shall charge your account monthly with the cost of three (3) additional business days on all such payments at the rate charged by us in section 14.1 below on debit balances. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
Appears in 3 contracts
Samples: Factoring Agreement (Innovo Group Inc), Stage Ii Apparel Corp, Levcor International Inc
Payment of Accounts. 7.1 7.1. All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer's account. In exchange for such application, we shall charge your account monthly with the cost of three two (32) additional business days on all such payments at the rate charged by us in section 14.1 below on debit balances. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
Appears in 3 contracts
Samples: Factoring Agreement (Chaus Bernard Inc), Chaus Bernard Inc, Chaus Bernard Inc
Payment of Accounts. 7.1 All payments 7. Checks and other proceeds received by us on the in payment of Accounts will be promptly applied to your account with us after crediting your customer's account. In exchange for such application; however, we shall charge debit your account monthly with the cost of three two (32) additional business days on all such payments amounts. The foregoing shall be computed at the rate charged by us in section 14.1 below on debit balances, as set forth in paragraph 13.1 hereof. No checks, drafts or other instruments received by us will shall constitute final payment of an Account unless and until such items instruments have actually been collected.
Appears in 2 contracts
Samples: Candies Inc, Candies Inc
Payment of Accounts. 7.1 All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer's ’s account. In exchange for such application, we shall charge your account monthly with the cost of three (3) * * * additional business days on all such payments at the rate charged by us in section 14.1 below on debit balances. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
Appears in 1 contract
Payment of Accounts. 7.1 All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer's account. customers account In exchange for such application, we shall charge your account monthly with the cost of three (3) additional business days on all such payments at the rate charged by us in section 14.1 below on debit balances. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
Appears in 1 contract
Payment of Accounts. 7.1 All payments Checks and other proceeds received by us on the in payment of Accounts will be promptly applied to your account with us after crediting your customer's account. In exchange for such application; however, we shall charge debit your account monthly with the cost of three (3) additional business days on all such payments amounts. The foregoing shall be computed at the rate charged by us in section 14.1 below on debit balances, as set forth in paragraph 14.1 hereof. No checks, drafts or other instruments received by us will shall constitute final payment of an Account unless and until such items instruments have actually been collected.
Appears in 1 contract
Samples: Notification Factoring Agreement (Dac Technologies Group International Inc)
Payment of Accounts. 7.1 All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer's account. In exchange for such application, we shall charge your account monthly with the cost of three two (32) additional business days on all such payments at the rate charged by us in section 14.1 below on debit balances. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
Appears in 1 contract
Samples: Decorize Inc
Payment of Accounts. 7.1 All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer's account. In in exchange for such application, we shall charge your account monthly with the cost of three (3) additional business days on all such payments at the rate charged by us in section 14.1 below on debit balances. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
Appears in 1 contract
Payment of Accounts. 7.1 All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer's account. In exchange for such application, we shall charge your account monthly with the cost of three five (35) additional business days on all such payments at the rate charged by us in section 14.1 below on debit balances. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
Appears in 1 contract
Samples: Factoring Agreement (Universal Security Instruments Inc)