Purchase of Accounts. We shall purchase the Accounts for the gross amount of the respective invoices, less: factoring fees or charges, trade and cash discounts allowable to, or taken by, your customers, credits, cash on account and allowances ("Purchase Price"). Our purchase of the Accounts will be reflected on the Statement of Account (defined in section 10 below), which we shall render to you, which will also reflect all credits and discounts made available to your customers.
Purchase of Accounts. See Schedule 7.4.
Purchase of Accounts. Upon termination of this Agreement, Company will have the option to purchase the then-outstanding Credit Card Account balances not previously written-off by Bank (subject to the terms of any securitization of such account balances) at the face amount thereof, without recourse to Bank, and will be provided with all related Account information and other Account data; provided that Company will be required to purchase such then-outstanding Credit Card Account balances on such terms if Company objects to any automatic extension of this Agreement pursuant to Section 9.1. All payments by Company pursuant to this Section 9.6 shall be made not later than one (1) Business Day after termination of this Agreement by wire transfer of immediately available funds to an account notified by Bank to Company not less than two (2) Business Days prior to the payment date. Upon any termination of this Agreement, (i) Company (at its sole expense) shall notify all Cardholders that Bank is no longer the processor of their Credit Card accounts, and (ii) Company and Bank shall cooperate in facilitating the transition to a new processor.
Purchase of Accounts. 5. We shall purchase the Accounts for the gross amount of the respective invoices, less factoring fees or commissions relating thereto, trade and cash discounts allowable to your customers and credits and allowances (the "Purchase Price of Accounts"). Our purchase of the Accounts shall be reflected on the Statements of Account which we shall render to you, and such statements shall also reflect all credits and discounts made available to your customers (whether or not taken) and anticipation earned by your customers. A more detailed description of these and all other accounting procedures used hereunder is contained in the Guide.
Purchase of Accounts. We will purchase from you and you will sell to us accounts receivable created by your sales of goods to or performance of services for customers approved by us in amounts approved by us without recourse to you for insolvency or nonpayment for financial inability to pay, except as set forth herein, after the goods or services have been actually delivered to and finally accepted without claim or dispute by your customer. An "
Purchase of Accounts. Upon the termination of this Agreement by either party, Spiegel Group or its designee shall purchase from Bank all unpaid and outstanding Accounts, excluding Accounts that are 181 or more days contractually past due (in the case of termination in a particular state, for the purposes of this Section 9.5, the term "Accounts" shall refer to Accounts belonging to Cardholders with billing addresses in such state) and the listing of names and addresses of such Cardholders at a purchase price to be determined by Bank which shall be equal to the book value of such Accounts and the receivables related thereto, including without limitation all accrued finance charges and fees, whether or not billed or posted to the Accounts. Provided, however, that (i) in the event of termination of the Agreement by Spiegel Group for a Spiegel Group Termination Event, or (ii) if at the time of termination Spiegel Group has not emerged from its pending bankruptcy proceeding; or (iii) if this Agreement is terminated pursuant to Section 10.11; or (iv) termination of the Plan in a particular state by Bank (in the case of termination in a particular state, for the purposes of this Section 9.5, the term "Accounts" shall refer to Accounts belonging to Cardholders with billing addresses in such state), Spiegel Group shall not be required, but may elect to do so with prior written notice to Bank, to purchase the Accounts as set forth above unless Spiegel Group shall establish (itself or through an Affiliate or third party) another private ANY TEXT REMOVED PURSUANT TO THE COMPANY'S CONFIDENTIAL TREATMENT REQUEST HAS BEEN SEPARATELY SUBMITTED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION AND IS MARKED [***] HEREIN. label or co-branded private label credit card program for its Businesses within 24 months after the termination date of this Agreement. Bank agrees that upon receipt of notice of termination from Spiegel Group, Bank will not from the date of receipt of such notice until the termination date, unless required by Applicable Law or safety and soundness considerations, make any material changes in Bank's collections or new Accounts underwriting procedures. In the case of either termination of the Agreement or termination of the Plan in a particular state and upon payment of the purchase price to Bank, Bank shall assign to Spiegel Group or its designee, without recourse, all of its right, title and interest in and to the Accounts and receivables related thereto being transferred and wi...
Purchase of Accounts. 1.1. SCHEDULE OF ACCOUNTS. Seller may, at any time, request that Purchaser purchase Accounts. Any such request by Seller shall be made by delivering to Purchaser a Schedule of Accounts (the "Schedule of Accounts") which describes in detail the Accounts Seller is requesting Purchaser to purchase, including, (a) the name and address of the Account Debtor of each such Account, (b) the amount owed by the Account Debtor of each such Account, and (c) the date and number of the invoice evidencing each such Account. Each Schedule of Accounts shall have attached to it an invoice for each Account described on the Schedule of Accounts, and shall be signed by an authorized representative of Seller.
Purchase of Accounts. (a) Notwithstanding anything to the contrary in this Agreement, upon termination or expiration of this Agreement, Virgin or its designee will have the option to purchase the Accounts and all Accounts Receivable related thereto (the “Portfolio”), without recourse to Bank. The purchase price shall be fair market value*.
Purchase of Accounts a. Pursuant to the terms herein, Customer hereby sells, transfers and assigns to WFBCI, its successors and assigns, as absolute owner, and WFBCI hereby purchases and accepts from the Customer all of the Customer's right, title and interest in and to:
Purchase of Accounts. [*]. As used in this Schedule 7.4, “Accounts Receivable” shall mean, as to any Account at the time of purchase, any and all amounts owing on such Account (whether or not posted or billed to an Account), but shall not include amounts owing on Accounts that are [*]. The Portfolio purchase price shall be [*] (or its designee), and [*]. If the parties are unable to agree on the fair market value of the Portfolio, [*] (entity or individual) with recognized standing and experience in valuing retail credit card portfolios (the “Company Appraiser” and “Bank Appraiser” respectively). The Company Appraiser and Bank Appraiser shall jointly select a third appraiser who shall also have recognized standing and experience in valuing retail credit card portfolios (collectively “Appraisers”). Each of Bank and Company (and/or its designee) shall provide such information to the Appraiser as is necessary to permit the Appraiser to provide a valuation as of a common date, which shall be within a reasonable time of the date the Appraiser was retained. The parties shall ensure that the Appraisers perform in a manner and with appropriate exigency so as to ensure compliance with any time frames described elsewhere in this Schedule 7.4. To determine the fair market value of the Portfolio, the Appraisers shall [*]. Fair market value shall then be [*] as determined by the Appraisers. The parties may agree to additional appraisal instructions. Company must provide Bank with notice of its intent to exercise its purchase right [*] to expiration or [*] of earlier termination is given by either party, as applicable. If Company elects to purchase the Portfolio, Company (or its designee) shall, [*], notify all Cardholders that Bank is no longer the owner of their Accounts. Bank shall provide all notices to Cardholders required by it as issuer under Applicable Law Company and Bank shall cooperate in facilitating the transition to Company or its designee, and Company shall ensure appropriate cooperation on the part of its designee. Bank shall make available the following key performance indicators (the “KPI’s”) to bidding issuers who have executed a non-disclosure agreement (“NDA”) reasonably acceptable to Bank. For clarity purposes, Company need not have provided the above notice to release the KPI’s; however, any recipient must have executed the above referenced NDA prior to receiving the KPI’s: [*] Any purchase pursuant to this Schedule 7.4 shall take effect [*] the Program expiration date...
