Repurchase of Accounts. When you become obligated to repurchase an invoice or account, you shall thereupon be liable to us for the net amount thereof, and it shall not be necessary for us to tender such invoice or account to you until you have paid us. We may retain such account and will have a security interest therein as security for your obligation to pay the repurchase price, and we may sell any such account at public or private sale, collect and take control of any proceeds of any such account, or exercise any other remedy available to us as a secured party under the UCC and apply the net proceeds of the disposition of an account to the satisfaction of such repurchase price or to satisfy any other of your obligations hereunder.
Appears in 6 contracts
Samples: Factoring Agreement (Blue Holdings, Inc.), Factoring Agreement (Peoples Liberation Inc), Factoring Agreement (Century Pacific Financial Corp)
