Amount Sold definition

Amount Sold is the dollar value of the Receivables sold to Purchaser and the dollar amount to be remitted to Purchaser out of your Receivables, as provided herein. The “Purchased Percentage” is the percentage of Receivables that Purchaser will receive on the periodic basis specified on the front page of the Agreement, until the Amount Sold (plus any additional fees and charges incurred under this Agreement) has been delivered to Purchaser. The “Periodic Amount” is the amount the parties have (i) estimated as the average periodic Purchased Percentage amount and (ii) agreed that, for administrative convenience, other than for credit card split deals (as evidenced by a separate writing (including email) between Merchant and Purchaser), you will remit to Purchaser on the periodic basis specified on the front page of the Agreement, subject to your right to request a reconciliation against your actual Receivables, as set forth in Section 5. The “Funded Amount” is the amount you will receive upon funding of this Agreement, and is equal to the Purchase Price, less total Fees (which fees are set forth on the front page of this Agreement and specified in Section 3(a)).

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Amount Sold. Eighty One Thousand Dollars ($81,000.00). This is the amount of your Receivables purchased by Purchaser under this Agreement (“Amount Sold”). Please refer to Sections 2(a) and 2(b).

Amount Sold. The dollar amount of the Future Receipts being sold by ▇▇▇▇▇▇▇▇. $72,000.00 Processing Fee: $895.00 NYSCEF DOC. NO. 3

Examples of Amount Sold in a sentence

• Purchaser shall have no obligation to refund or return the Amount Sold or any portion thereof to Merchant in the event that the Approved Card Processor or any other Receipts Custodian initiates a refund, credit, reversal, or chargeback of a transaction subject to this Agreement, as such adjustments typically are netted against future card volume.

• By virtue of this Agreement, Merchant transfers to Purchaser full and complete ownership of the Amount Sold and Merchant retains no legal or equitable interest therein.

• However, based on your historical revenue, we have estimated how long it will take you to deliver the Amount Sold to us under this Agreement.

• Merchant and Purchaser agree that the Purchase Price is payment for the assignment and sale of the Amount Sold and that this transaction is not intended to be, nor shall it be construed as, a loan from Purchaser to Merchant.

• If you commit a Bad Act, you will be liable to us in an amount in cash equal to (a) the undelivered portion of the Amount Sold, plus (b) any other fees and other amounts due to us under this Agreement, plus (c) any additional amounts you would owe us for committing an Other Breach.

• Guarantor acknowledges and agrees that the Purchase Price paid by Purchaser to Merchant in exchange for the Amount Sold is adequate consideration for the purchase of the Amount Sold and is not a loan or financial accommodation from Purchaser to Merchant.

• Merchant authorizes Purchaser to file one or more UCC-1 forms consistent with the UCC to give notice that the Amount Sold is the sole property of Purchaser.

• If Purchaser elects to conduct a Processing Trial, Merchant acknowledges and agrees that Purchaser will decide in its sole and absolute discretion whether to purchase the Amount Sold after completion of the Processing Trial.

• If you go out of business or become the subject of a voluntary or involuntary bankruptcy filing within forty-five (45) days of our purchasing the Amount Sold, you agree that there will be a rebuttable presumption of a material breach.

• In the event that the final weekly delivery results in Purchaser receiving more than Amount Sold (not including fees), Purchaser shall refund any amount in excess of the Amount Sold (not including fees) within 5 business days of the final weekly delivery.

More Definitions of Amount Sold

Amount Sold. The dollar amount of the Future Receipts being sold by ▇▇▇▇▇▇▇▇. $73,075.00 Processing Fee: The administrative fee associated with processing the transaction. This is deducted from the Purchase Price paid to Merchant. $895.00 Merchant hereby sells, assigns and transfers the total “Amount Sold” to Purchaser (making Purchaser the absolute owner), in exchange for the “Purchase Price.”

Amount Sold. _________________________________________One Hundred Fifty Six Thousand Two Hundred Fifty Dollars___________________ ($__________). 156,250.00 This is the amount of your Receivables purchased by Purchaser under this Agreement (“Amount Sold”). Please refer to Sections 2(a) and 2(b).