Discount Receivable definition
Examples of Discount Receivable in a sentence
Except for Permitted Discount Receivable Sales, Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable.
With respect to any Discount Receivable which is not paid within ten (10) days of the date billed (and which is therefore not subject to a one percent (1.0%) discount in favor of the account debtor), Buyer shall pay to Seller an amount equal to one percent (1.0%) of the amount of such Receivable, promptly upon Buyer’s receipt of payment therefor from the applicable account debtor after the Closing Date.
Discount Receivable Sales, Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable.
The purchase price applicable to a Notified Discount Receivable shall be equal to its Notified Value minus any Discount Amount and minus any Commission applicable to such Notified Discount Receivable pursuant to Clause 1 (Discount Rates) and Clause 2 (Commission) respectively (the “Purchase Price”).