Purchase Order Financing Sample Clauses
The Purchase Order Financing clause outlines the terms under which a third party provides funding to a business based on its purchase orders from customers. Typically, this financing allows the business to pay suppliers for goods needed to fulfill large or unexpected orders, with repayment occurring once the end customer pays for the completed order. This clause is essential for businesses that may lack sufficient working capital to fulfill sizable orders, as it enables them to accept and complete more business without cash flow constraints.
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Purchase Order Financing. The Company and Consultant acknowledge and agree that in or around December 2013, Consultant made a loan to the Company in the sum of Seventy Thousand Dollars ($70,000) in exchange for the Company agreeing to promptly pay to Consultant all sums paid to the Company pursuant to that certain letter agreement between PolyBrite and the Company dated on or around December 27, 2013, regarding an Anchor Mechanical, Inc., purchase order for a University of Illinois at Chicago project. The Company represents and warrants to Consultant that the Company has not yet been paid any sums pursuant to such letter agreement. The Company further acknowledges and agrees that its obligations with respect to the foregoing loan remain in full force and effect as of the date hereof and shall survive the termination or expiration of this Agreement if such obligations have not been fully satisfied prior to such termination or expiration. Please acknowledge your agreement to these terms by signing below and returning a copy of this Agreement to me. Thank you. Sincerely,
Purchase Order Financing. 5. As a simplification, to operate its business, except where Wholesale Rx has already secured favorable pricing for smaller volume orders, Wholesale Rx secures purchase orders for various drugs from its customers. These purchase orders are aggregated, to maximize the volume of each separate drug ordered, in order to secure favorable pricing for such drug from its manufacturers and/or distributors. Wholesale Rx requires financing in order to pay for the purchased inventory. As the purchased inventory is shipped to the ordering customer(s), WholesaleRx receives credit card payment for the shipped drugs (including freight and other costs).
6. ScripsAmerica has pre-existing relationships with a third-party financing sources which ScripsAmerica shall utilize for the purpose of providing purchase order financing to WholesaleRx. WholesaleRx shall indemnify ScripsAmerica, and hold ScripsAmerica harmless from, all claims, charges, and demands resulting from or arising out of any purchase order financing provided by ScripsAmerica under this Part II.
(a) WholesaleRx shall, in its discretion, depending upon the volume of customer purchase orders received from time to time and the ordering of inventory to fulfill such purchase orders, advise ScripsAmerica in writing of the name, address and purchased inventory dollar cost for each vendor from which inventory is being purchased and for which financing is being requested.
(b) ScripsAmerica shall promptly advise the third party financing source being used of the funds required by WholesaleRx, secure such funds, and loan such funds to WholesaleRx.
(c) the loan of the funds under this Part II shall be collateralized by a Security Interest in and to:
(i) Customer Purchase Orders;
(ii) Inventory;
(iii) Accounts Receivable;
(iv) Cash and Cash equivalents; and
(v) Insurance on the Inventory and the proceeds of the collateral.
(d) WholesaleRx hereby pledges to ScripsAmerica, and grants to ScripsAmerica a continuing Security Interest in and to, the above-identified collateral pursuant to the provisions of Article 9 of the Uniform Commercial Code (“UCC”) as adopted in Tennessee and as in effect from time to time. ScripsAmerica shall have all rights and powers of a secured party as provided in Article 9 of the UCC in Tennessee.
(e) Wholesale Rx shall execute a UCC-1 evidencing the foregoing pledge and grant of a Security Interest, which shall be filed to perfect the lien granted. A UCC-1 filed under Part I above shall include and ...
Purchase Order Financing. Purpose: The proposed will finance the purchase orders and services of the pending production slated for 9/__/11.
Purchase Order Financing. The Purchase Order Success Fee is defined as the sum of (i) cash in the amount equal to 4.0% of the total amount of the purchase order financing available to or provided to the Company through the contacts of AWP and (ii) common stock of the Company in a number equal to 4.0 % of the total amount of the purchase order financing available to or provided to the Company through the efforts of AWP divided by $1.50 and such shares are to be issued within 5 business days from the completion of the financing. The Purchase Order Success Fee, in cash and stock, is payable at the first draw-down of the facility and calculated on the amount of the first draw-down (but not re-use) and any incremental draw-down up to the maximum limit of the facility;
Purchase Order Financing. Notwithstanding anything contained herein to the contrary, Borrower shall be permitted to enter into financing with third parties wherein the use of proceeds of such financing is the purchase of a Credit Party’s products (each financing, a “Purchase Order Financing”), provided, however, that prior to Borrower’s acceptance of such Purchase Order Financing, the terms and conditions pertaining thereto must be satisfactory to Lender, in Lender’s sole but reasonable discretion.
Purchase Order Financing. Purchaser, on the terms and conditions hereinafter set forth, will purchase equipment purchase orders ("Qualified Purchase Orders", as hereinafter defined) in varying amounts from Seller from time to time during the period starting with the date of this Agreement up to but not including June 2, 2005 ("Termination Date") in an aggregate principal amount up to but not to exceed a total of $4,800,000 over the two year term of the Agreement. Purchaser agrees to purchase up to Two Hundred Thousand Dollars ($200,000) of Qualified Purchase Orders in any given month throughout the two (2) year term of this Agreement. Purchaser will not be required to hold more than Two Hundred Thousand Dollars of outstanding Qualified Purchase Orders at any time.
Purchase Order Financing