Common use of PURCHASE OF BILLS Clause in Contracts

PURCHASE OF BILLS. 2.1 Customer agrees to present on a monthly basis, a Minimum Anticipated Volume of Bills for SYSTRAN to purchase which shall be equal to $1,000,000.00. SYSTRAN, at its sole discretion, may purchase such Bills. Xxxx(s) and or Special Purchase Xxxx(s) shall herein collectively be referred to as “The Xxxx(s)”. Such sales shall be absolute and unconditional, subject only to Recourse as described herein. Customer shall submit to SYSTRAN an original and one (1) copy, along with any document which SYSTRAN deems necessary, of each Xxxx which shall be attached to a schedule form provided by SYSTRAN. Should any Debtor require any additional documentation as a prerequisite to payment, Customer will also provide such documentation with each Xxxx. For a Transportation Account, Customer shall also submit one (1) copy of the respective xxxx of lading. The xxxx of lading must be signed by the Customer, the shipper, and the consignee if the consignee’s signature is necessary for payment. 2.2 SYSTRAN will settle with the Customer by providing to Customer by U.S. Mail, electronic mail, or via facsimile a settlement statement setting forth The Xxxx(s) and/or Special Bills purchased, the amount paid, and any deductions made for fees, charges or the “Deposit” and deposit funds as follows: [Customer shall choose one option] o Mail funds due Customer. ¨ Deliver overnight funds due Customer via Federal Express next day service air. o Wire transfer funds due Customer into bank account specified by Customer on wire authorization form. o Deposit funds due Customer. ____mjp_____ (initials) 2.3 Any payment to Customer may be reduced by SYSTRAN by any amount due from Customer to SYSTRAN, including but not limited to the security deposit, Chargebacks, fees and costs. 2.4 SYSTRAN may give notice to the Debtors of the assignment of The Xxxx(s) by placing a legend on The Xxxx(s) stating The Xxxx(s) have been sold and assigned to SYSTRAN and are payable to SYSTRAN at an address designated by SYSTRAN. Customer will not attempt to direct payment to any place other than to the SYSTRAN designated address. Customer agrees to pay all costs and expenses incurred by SYSTRAN in giving such notice. All proceeds of The Xxxx(s) received by Customer shall be delivered immediately to SYSTRAN in the identical form of payment received by Customer. In the event that Customer collects directly from the Debtor, The Xxxx(s) which have been sold to SYSTRAN and Customer does not deliver immediately to SYSTRAN the identical form of payment received by Customer, Customer shall be in default hereunder and will be charged an administrative fee equal to fifteen percent (15%) of the face amount of The Xxxx(s) collected directly. Customer agrees that any collection directly from the Debtor by Customer of The Xxxx(s) which have been sold to SYSTRAN will be considered a default under the terms of this Agreement, and that in addition to the administrative fee described herein, Systran will be entitled to pursue its other remedies permitted hereunder and under applicable law. 2.5 SYSTRAN has or will provide to Customer a Customer Information Manual, which is a guide to policy and procedures concerning daily submission of The Xxxx(s), collection efforts, and other matters. The Customer Information Manual (the “Manual”) is not part of this Agreement. The procedures set forth in the Manual are only guidelines to ensure the efficient operation of SYSTRAN’s purchase of The Xxxx(s). SYSTRAN may change any procedure in the Manual at any time, and may choose not to follow procedures in the Manual at its discretion.

PURCHASE OF BILLS. 2.1 Customer agrees to present on a monthly basis, a Minimum Anticipated Volume of Bills for SYSTRAN to purchase which shall be equal to $1,000,000.00***. SYSTRAN, at its sole discretion, may purchase such Bills. Xxxx(s) and or Special Purchase Xxxx(s) shall herein collectively be referred to as “The Xxxx(s)”. Such sales shall be absolute and unconditional, subject only to Recourse as described herein. Customer shall submit to SYSTRAN an original and one (1) copy, along with any document which SYSTRAN deems necessary, of each Xxxx which shall be attached to a schedule form provided by SYSTRAN. Should any Debtor require any additional documentation as a prerequisite to payment, Customer will also provide such documentation with each Xxxx. For a Transportation Account, Customer shall also submit one (1) copy of the respective xxxx of lading. The xxxx of lading must be signed by the Customer, the shipper, and the consignee if the consignee’s signature is necessary for payment. 2.2 SYSTRAN will settle with the Customer by providing to Customer by U.S. Mail, electronic mail, or via facsimile a settlement statement setting forth The Xxxx(s) and/or Special Purchase Bills purchased, the amount paid, and any deductions made for fees, charges or the “Deposit” and deposit funds as follows: [Customer shall choose one option] o Mail funds due Customer]. ¨ Deliver overnight funds due Customer via Federal Express next day service air. o ¨ Wire transfer funds due Customer into bank account specified by Customer on wire authorization form. o Deposit ¨ ACH funds due Customer. ____mjp_____ (initials). 2.3 Any payment to Customer may be reduced by SYSTRAN by any amount due from Customer to SYSTRAN, including but not limited to the security deposit, Chargebacks, fees and costs. 2.4 SYSTRAN may give notice to the Debtors of the assignment of The Xxxx(s) by placing a legend on The Xxxx(s) stating The Xxxx(s) have been sold and assigned to SYSTRAN and are payable to SYSTRAN at an address designated by SYSTRAN. Customer will not attempt to direct payment to any place other than to the SYSTRAN designated address. Customer Customer, jointly and severally, agrees to pay all costs and expenses incurred by SYSTRAN in giving such notice. All proceeds of The Xxxx(s) received by Customer shall be delivered immediately to SYSTRAN within two (2) business days of receipt in the identical form of payment received by Customer, provided that Customer shall be deemed to hold such proceeds in trust and for the benefit of SYSTRAN until such delivery is made to SYSTRAN. In the event that Customer collects directly from the Debtor, The Xxxx(s) which have been sold to SYSTRAN and Customer does not deliver immediately to SYSTRAN the identical form of payment received by Customer, Customer shall be in default hereunder and will be charged an administrative fee equal to fifteen percent (15%) *** of the face amount of The Xxxx(s) collected directly. Customer agrees that any collection directly from the Debtor by Customer of The Xxxx(s) which have been sold to SYSTRAN will be considered a default under the terms of this Agreement, and that in addition to the administrative fee described herein, Systran will be entitled to pursue its other remedies permitted hereunder and under applicable law. 2.5 SYSTRAN has or will provide to Customer a Customer Information Manual, which is a guide to policy and procedures concerning daily submission of The Xxxx(s), collection efforts, and other matters. The Customer Information Manual (the “Manual”) is not part of this Agreement. The procedures set forth in the Manual are only guidelines to ensure the efficient operation of SYSTRAN’s purchase of The Xxxx(s). SYSTRAN may change any procedure in the Manual at any time, and may choose not to follow procedures in the Manual at its discretion.

PURCHASE OF BILLS. 2.1 Customer agrees to present on a monthly basis, a Minimum Anticipated Volume of Bills for SYSTRAN to purchase which shall be equal to $1,000,000.00. SYSTRAN, at its sole discretion, may purchase such Bills. Xxxx(sBill(s) and xxx or Special Purchase Xxxx(sBill(s) shall xxxll herein collectively be referred to as “"The Xxxx(sBill(s)”. Such sales shall be absolute and unconditional, subject only to Recourse as described herein". Customer shall submit to SYSTRAN an original and one (1) copy, along with any document which SYSTRAN deems necessary, of each Xxxx which Bill whxxx shall be attached to a schedule form provided by SYSTRAN. Should any Debtor require any additional documentation as a prerequisite to payment, Customer will also provide such documentation with each XxxxBill. For Xxx a Transportation Account, Customer shall also submit one (1) copy of the respective xxxx bill of ladingxxxing. The xxxx bill of lading xxxing must be signed by the Customer, the shipper, and the consignee if the consignee’s 's signature is necessary for payment. 2.2 SYSTRAN will settle with the Customer by providing to Customer by U.S. Mail, electronic mail, or via facsimile a settlement statement setting forth The Xxxx(sBill(s) and/or xxd/or Special Purchase Bills purchased, the amount paid, and any deductions made for fees, charges or the “"Deposit” " and deposit funds as follows: [Customer shall choose one option] o Mail funds due Customer. ¨ |_| Deliver overnight funds due Customer via Federal Express next day service air. o |X| Wire transfer funds due Customer into bank account specified by Customer on wire authorization form. o Deposit |_| ACH funds due Customer. ____mjp_____ (initials). 2.3 Any payment to Customer may be reduced by SYSTRAN by any amount due from Customer to SYSTRAN, including but not limited to the security deposit, Chargebacks, fees and costs. 2.4 Customer shall direct all Debtors to remit Bill paxxxxts to an address designated by SYSTRAN. As of the date of this Agreement, the address designated by SYSTRAN is the address set forth in the Addendum attached hereto, provided that SYSTRAN may change such designated address upon giving notice to Customer. Subject to the terms of the Addendum attached hereto, SYSTRAN may give notice to the Debtors of the assignment of The Xxxx(sBill(s) by xx placing a legend on The Xxxx(sBill(s) stating xxxting The Xxxx(sBill(s) have xxve been sold and assigned to SYSTRAN and are payable to SYSTRAN at an address designated by SYSTRAN. Customer will not attempt to direct payment to any place other than to the SYSTRAN designated address. Customer agrees to pay all costs and expenses incurred by SYSTRAN in giving such notice. All proceeds of The Xxxx(sBill(s) received xxxeived by Customer shall be delivered immediately to SYSTRAN in the identical form of payment received by Customer. In the event that Customer collects directly from the Debtor, The Xxxx(sBill(s) which xxxch have been sold to SYSTRAN and Customer does not deliver immediately to SYSTRAN the identical form of payment received by Customer, Customer shall be in default hereunder and will be charged an administrative fee equal to fifteen percent (15%) of the face amount of The Xxxx(sBill(s) collected xxxlected directly. Customer agrees that any collection directly from the Debtor by Customer of The Xxxx(sBill(s) which xxich have been sold to SYSTRAN will be considered a default under the terms of this Agreement, and that in addition to the administrative fee described herein, Systran will be entitled to pursue its other remedies permitted hereunder and under applicable law. 2.5 SYSTRAN has or will provide to Customer a Customer Information Manual, which is a guide to policy and procedures concerning daily submission of The Xxxx(sBill(s), collection xollection efforts, and other matters. The Customer Information Manual (the “"Manual”") is not part of this Agreement. The procedures set forth in the Manual are only guidelines to ensure the efficient operation of SYSTRAN’s 's purchase of The Xxxx(sBill(s). SYSTRAN XYSTRAN may change any procedure in the Manual at any time, and may choose not to follow procedures in the Manual at its discretion.

PURCHASE OF BILLS. 2.1 Customer agrees to present on a monthly basis, a Minimum Anticipated Volume of Bills for SYSTRAN to purchase which shall be equal to $1,000,000.00. SYSTRAN, at its sole discretion, may purchase such Bills. Xxxx(s) and or Special Purchase Xxxx(s) shall herein collectively be referred to as “"The Xxxx(s)”. Such sales shall be absolute and unconditional, subject only to Recourse as described herein". Customer shall submit to SYSTRAN an original and one (1) copy, along with any document which SYSTRAN deems necessary, of each Xxxx which shall be attached to a schedule form provided by SYSTRAN. Should any Debtor require any additional documentation as a prerequisite to payment, Customer will also provide such documentation with each Xxxx. For a Transportation Account, Customer shall also submit one (1) copy of the respective xxxx of lading. The xxxx of lading must be signed by the Customer, the shipper, and the consignee if the consignee’s 's signature is necessary for payment. 2.2 SYSTRAN will settle with the Customer by providing to Customer by U.S. Mail, electronic mail, or via facsimile a settlement statement setting forth The Xxxx(s) and/or Special Bills purchased, the amount paid, and any deductions made for fees, charges or the “"Deposit” " and deposit funds as follows: [Customer shall choose one option] o Mail funds due Customer. ¨ |_| Deliver overnight funds due Customer via Federal Express next day service air. o |_| Wire transfer funds due Customer into bank account specified by Customer on wire authorization form. o |_| Deposit funds due Customer. ____mjp_____ (initials) 2.3 Any payment to Customer may be reduced by SYSTRAN by any amount due from Customer to SYSTRAN, including but not limited to the security deposit, Chargebacks, fees and costs. 2.4 SYSTRAN may give notice to the Debtors of the assignment of The Xxxx(s) by placing a legend on The Xxxx(s) stating The Xxxx(s) have been sold and assigned to SYSTRAN and are payable to SYSTRAN at an address designated by SYSTRAN. Customer will not attempt to direct payment to any place other than to the SYSTRAN designated address. Customer agrees to pay all costs and expenses incurred by SYSTRAN in giving such notice. All proceeds of The Xxxx(s) received by Customer shall be delivered immediately to SYSTRAN in the identical form of payment received by Customer. In the event that Customer collects directly from the Debtor, The Xxxx(s) which have been sold to SYSTRAN and Customer does not deliver immediately to SYSTRAN the identical form of payment received by Customer, Customer shall be in default hereunder and will be charged an administrative fee equal to fifteen percent (15%) of the face amount of The Xxxx(s) collected directly. Customer agrees that any collection directly from the Debtor by Customer of The Xxxx(s) which have been sold to SYSTRAN will be considered a default under the terms of this Agreement, and that in addition to the administrative fee described herein, Systran will be entitled to pursue its other remedies permitted hereunder and under applicable law. 2.5 SYSTRAN has or will provide to Customer a Customer Information Manual, which is a guide to policy and procedures concerning daily submission of The Xxxx(s), collection efforts, and other matters. The Customer Information Manual (the “"Manual”") is not part of this Agreement. The procedures set forth in the Manual are only guidelines to ensure the efficient operation of SYSTRAN’s 's purchase of The Xxxx(s). SYSTRAN may change any procedure in the Manual at any time, and may choose not to follow procedures in the Manual at its discretion.

PURCHASE OF BILLS. 2.1 Customer agrees to present on a monthly basis, a Minimum Anticipated Volume of Bills for SYSTRAN to purchase which shall be equal to $1,000,000.00. SYSTRAN, at its sole discretion, may purchase such Bills. Xxxx(s) and or Special Purchase Xxxx(s) shall herein collectively be referred to as “The Xxxx(s)”. Such sales shall be absolute and unconditional, subject only to Recourse as described herein. Customer shall submit to SYSTRAN an original and one (1) copy, along with any document which SYSTRAN deems necessary, of each Xxxx which shall be attached to a schedule form provided by SYSTRAN. Should any Debtor require any additional documentation as a prerequisite to payment, Customer will also provide such documentation with each Xxxx. For a Transportation Account, Customer shall also submit one (1) copy of the respective xxxx of lading. The xxxx of lading must be signed by the Customer, the shipper, and the consignee if the consignee’s signature is necessary for payment. 2.2 SYSTRAN will settle with the Customer by providing to Customer by U.S. Mail, electronic mail, or via facsimile a settlement statement setting forth The Xxxx(s) and/or Special Bills purchased, the amount paid, and any deductions made for fees, charges or the “Deposit” and deposit funds as follows: [Customer shall choose one option] o Mail funds due Customer. ¨ o Deliver overnight funds due Customer via Federal Express next day service air. o ý Wire transfer funds due Customer into bank account specified by Customer on wire authorization form. o Deposit funds due Customer. ____mjp_____ (initials). 2.3 Any payment to Customer may be reduced by SYSTRAN by any amount due from Customer to SYSTRAN, including but not limited to the security deposit, Chargebacks, fees and costs. 2.4 SYSTRAN may give notice to the Debtors of the assignment of The Xxxx(s) by placing a legend on The Xxxx(s) stating The Xxxx(s) have been sold and assigned to SYSTRAN and are payable to SYSTRAN at an address designated by SYSTRAN. Customer will not attempt to direct payment to any place other than to the SYSTRAN designated address. Customer agrees to pay all costs and expenses incurred by SYSTRAN in giving such notice. All proceeds of The Xxxx(s) received by Customer shall be delivered immediately to SYSTRAN in the identical form of payment received by Customer. In the event that Customer collects directly from the Debtor, The Xxxx(s) which have been sold to SYSTRAN and Customer does not deliver immediately to SYSTRAN the identical form of payment received by Customer, Customer shall be in default hereunder and will be charged an administrative fee equal to fifteen percent (15%) of the face amount of The Xxxx(s) collected directly. Customer agrees that any collection directly from the Debtor by Customer of The Xxxx(s) which have been sold to SYSTRAN will be considered a default under the terms of this Agreement, and that in addition to the administrative fee described herein, Systran will be entitled to pursue its other remedies permitted hereunder and under applicable law. 2.5 SYSTRAN has or will provide to Customer a Customer Information Manual, which is a guide to policy and procedures concerning daily submission of The Xxxx(s), collection efforts, and other matters. The Customer Information Manual (the “Manual”) is not part of this Agreement. The procedures set forth in the Manual are only guidelines to ensure the efficient operation of SYSTRAN’s purchase of The Xxxx(s). SYSTRAN may change any procedure in the Manual at any time, and may choose not to follow procedures in the Manual at its discretion.