Examples of Assigned Debtors in a sentence
It is expressly agreed that the Assignor shall remain liable to observe and perform all of the conditions and obligations assumed by it in respect of its Assigned Receivables and the underlying contracts and/or agreements supporting such Assigned Receivables as entered into between the Assignor and its Assigned Debtors.
On the delivery date of each Assignment Deed, the Assignor will, at its own cost and expense, perform all acts and execute all documents so that the Assignment under each Assignment Deed constitutes a legal, valid, enforceable and binding obligation against the relevant Assigned Debtors and any third party in any jurisdiction to which the relevant Assigned Debtors are subject.
This shall also be the case for all the other Assigned Receivables, which shall become the property of the Lenders upon the signature of the relevant Dailly Assignment Slip, notwithstanding any instructions given to the Borrower to credit the amounts of such receivables (including the receivables constituted by Rents) to the Operating Account, as long as the relevant Receivables Assignments are not notified to the relevant Assigned Debtors, in accordance with the provisions of Clause 12.3 hereinafter.
Following the communication, sent by the Assignee, pursuant to Clause 17.1 (“Acceleration, Termination, and Withdrawal”) of the Loan Agreement, of the occurrence of a Significant Event and to the extent that such Significant Event has not been corrected within the period of grace possibly granted by the Assignee, the Assignee may, at its discretion, instruct the Assigned Debtors to pay the amount due into a current account other than those mentioned above, informing the Assignors in writing thereof.
Each assignment of Receivables carried out by virtue of this Agreement shall not imply the transfer of the corresponding Commercial Agreement, nor shall it impose on the Assignee any obligation pursuant to such agreement or other obligations assumed by the Assignor towards Assigned Debtors based on the corresponding Commercial Agreement or any other agreement.
For purposes of clarity, each assignment of Receivables carried out by virtue of this Agreement shall not imply the transfer of the corresponding Commercial Agreement, nor shall it impose on the Assignee any obligation pursuant to such agreement or other obligations assumed by the Assigner towards Assigned Debtors based on the corresponding Commercial Agreement or any other agreement.
Without prejudice to the proprietary title of the afore-mentioned credits belonging to the Lending Party, each payment relating to the Assigned Credits owed to the Assignors by the Assigned Debtors will be made by crediting the following current accounts: · with regard to Kemet Electronics: Current Acc.
Each Borrower undertakes with effect from the Signing Date to assign to the Lenders, in accordance with the terms of the business receivable assignment deeds that are or shall be signed pursuant to the performance of the Agreement, the receivables that are or may be owed to it by its debtors (the Assigned Debtors) identified in paragraphs (B) and (C) below (the Assigned Receivables), as security for the payment and repayment of all its Secured Obligations and pursuant to the provisions of Articles L.
It is also agreed that any sums that may be recovered in the context of any proceedings instigated against an Assigned Debtor or an agreement reached with an Assigned Debtor shall be recovered on behalf of the Lenders, who shall have title to all such sums, with the relevant Borrower being authorised to only use such sums in accordance with the conditions hereof and for as long as the relevant Receivables Assignment is not notified to the Assigned Debtors in accordance with the conditions set out below.