Receivables Conversion Sample Clauses

Receivables Conversion. Upon and subject to the terms and conditions set forth in this Letter of Agreement, CellStar will make available to Telecom a credit facility (the "Facility") in the aggregate amount of Twenty Six Million Nine Hundred Ninety Dollars ($26,990,000) for the purpose of financing all of the accounts receivable due and owing as of the date hereof from Telecom to CellStar and for the purpose of financing future purchases of products by Telecom from CellStar, all to be evidenced by a note executed by Telecom in favor of CellStar (the "Note"), having the form and containing the terms and conditions of the Note set forth as Exhibit A hereto.