Assigned Receivables definition
Examples of Assigned Receivables in a sentence
Thereafter, the Seller, as owner of the Assigned Receivables, may take any action the Seller deems necessary to collect the Assigned Receivables and any collections shall be the property of the Seller.
The Assignor shall timely and fully perform and comply with all material provisions, covenants and other obligations required to be observed by it under the contracts from which the Assigned Receivables derive.
To the extent that the aggregate amount of the Assigned Receivables transferred and assigned to the Parent pursuant to this Section 5.20 is less than $3,832,000, the Buyer shall promptly remit to the Parent the difference between the aggregate amount of the Assigned Receivables transferred to the Parent and $3,832,000 by wire transfer of immediately available funds to a bank account designated by the Parent for such purpose.
Buyer shall promptly pay to Seller any amount received by Buyer after the Adjustment Date attributable to payment of any Assigned Receivables.
The Buyer hereby acknowledges that the Parent shall have the exclusive right to pursue and collect any Assigned Receivables.