Assignment of Factoring Proceeds definition

Assignment of Factoring Proceeds means any Assignment of Factoring Credit Balance and Proceeds Agreement among a Borrower, the Factor and Agent, in each case, in form and substance reasonably satisfactory to Agent, pursuant to which, among other things, the Factor (a) agrees not to make any loans or advances to such Borrower or any other Loan Party, or to guaranty on behalf of such Borrower or any other Loan Party any Indebtedness or other obligations, (b) agrees to waive the right of setoff against any Accounts (or proceeds thereof) of amounts owed by such Borrower or any other Loan Party to the Factor (or Factor’s other clients) arising out of claims or accounts receivable owed by such Borrower or any other Loan Party to such other clients of Factor or other third parties, and (c) agrees that, except with respect to Factored Accounts with respect to which the Factor pays the purchase price therefor in accordance with the terms of the Factoring Agreement and such Assignment of Factoring Credit Balance and Proceeds Agreement, the Factor has no ownership of or security interest in any Accounts of such Borrower.

Assignment of Factoring Proceeds means an assignment by the Borrower of the factoring proceeds payable to the Borrower pursuant to the terms of the Non-Notification Factoring Agreement, executed by the Borrower, the Collateral Agent, and the Factor.

Assignment of Factoring Proceeds means the Assignment of Factoring --------------------------------- Proceeds dated the Closing Date between Borrower and Factor.

Examples of Assignment of Factoring Proceeds in a sentence

• G-III, CIT as Factor and Agent shall have entered into the Assignment of Factoring Proceeds Agreement, in form and substance satisfactory to Agent.

• Assignment of Factoring Proceeds and Intercreditor Agreement dated September 19, 2008 by and among The Singing Machine Company, Inc., SMC (Comercial Offshore De Macau) Limitada, Branch Banking and Trust Company, and DBS Bank (Hong Kong) Limited.

• Assignment of Factoring Proceeds and Intercreditor Agreement dated September 19, 2008 by and among The Singing Machine Company, Inc., SMC (Comercial Offshore De Macau) Limitada, Branch Banking and Trust Company, and DBS Bank (Hong Kong) Limited.

• The Factoring Agreement with CIT shall remain in full force and effect, provided, however, that CIT and the Company shall have entered into (i) an amendment thereto which shall provide that no further advances or purchases of Accounts shall be made thereunder and (ii) the Assignment of Factoring Proceeds Agreement which shall provide, inter alia, that all monies payable to the Company pursuant to the Factoring Agreement shall be paid directly to CIT in its capacity as the lender hereunder.

• Each of the Companies, CIT as Factor and Agent shall have entered into an Intercreditor Agreement and Assignment of Factoring Proceeds, in form and substance satisfactory to Agent.

More Definitions of Assignment of Factoring Proceeds

Assignment of Factoring Proceeds means, the Assignment of Factoring Proceeds among Agent, Factor, and Borrower dated as of December 19, 2008, as such agreement may be supplemented, modified, amended, amended and restated, or replaced from time to time with the consent of Agent.

Assignment of Factoring Proceeds means, with respect to any Factoring Agreement, an assignment of factoring proceeds consented to in writing by the applicable Factor and otherwise in form and substance satisfactory to the Agent.

Assignment of Factoring Proceeds means the Assignment and Intercreditor Agreement, dated as of January 28, 2016, by and among Factor, Xxxxxx Xxxxxx Designs, LLC, Xxxxxx Clothing, LLC, Term Loan Agent and Lender.

Assignment of Factoring Proceeds means the Assignment of Factoring Proceeds dated July 26, 1996, by River Oaks, as agent for the Borrowers, and accepted and agreed to by the Agent and BNYFC, as the same may be amended, modified or supplemented from time to time.

Assignment of Factoring Proceeds means, (a) the Assignment of Factoring Proceeds among Agent, Initial Factor and Borrower dated as of the Closing Date and (b) on and after the date Borrower enters into a Factoring Agreement with a Factor other than Initial Factor, the Assignment of Factoring Proceeds and Intercreditor Agreement among Agent, such Factor and Borrower dated as of such date, which shall be in form and substance satisfactory to Agent in all respects.

Assignment of Factoring Proceeds means the Assignment of Factoring Proceeds among Agent, Factor and Borrower dated as of the Closing Date.

Assignment of Factoring Proceeds means the document by that name, [dated the Agreement Date], as amended, among the Borrower, the Factor, and the Agent.