Common Contracts
1 similar Receivable Purchase Agreement contracts
Title:Receivable Purchase Agreement • July 18th, 2024
Makati Leasing and Finance Corporation (Petitioner) entered into a Receivable Purchase Agreement with Wearever Textile Mills, Inc. (Private Respondent), involving the discounting and assignment of several receivables. To secure these receivables, the Private Respondent constituted a Chattel Mortgage over certain inventory and an Artos Aero Dryer Stentering Range machinery. Upon default by the Private Respondent, the Petitioner sought extrajudicial foreclosure of the mortgaged properties but was unable to enforce the seizure due to physical barriers at the Private Respondent’s premises.
