Factored Account definition

Factored Account means an Account of JCC which is factored by Factor under the Factoring Agreement.
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Factored Account means an Account factored by a Factor under a Factoring Agreement.
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Factored Account means an Account of a Borrower that is sold, assigned or otherwise transferred to a Factor pursuant to a Factoring Agreement.
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Examples of Factored Account in a sentence

  • We shall purchase the Factored Accounts for the gross amount of the respective invoices, less factoring fees or commissions relating thereto, trade and cash discounts allowable to the Account Debtors thereon and credits and allowances (with respect to any Factored Account, the "Purchase Price”).

  • The Purchase Price of each Factored Account, less (a) any reserves we may have established with respect to such Factored Account, (b) any sums advanced, remitted or otherwise paid to you or otherwise debited to your account, (c) any interest accrued on Advances we made against the Purchase Price for the Factored Accounts, and (d) other charges authorized hereunder, shall be payable to you two (2) business days after the day on which payment on the Factored Account is posted to your account.

  • In determining whether a Factored Account is eligible for Advances hereunder (which determination shall be made in our sole and absolute discretion) we may take into account the creditworthiness of the Account Debtor, payment terms, payment history, dilution, concentration, and such other factors and circumstances as we may deem appropriate in our sole and absolute discretion.

  • Seller shall have no right or power to modify, change or alter the terms, price or other conditions of any Factored Account.

  • Each item of the Accounts Receivable Collateral and each Factored Account arises or will arise under a contract between an Obligor and the respective Account Debtor, or from the bona fide sale or delivery of goods to or performance of services for the Account Debtor.

  • Factored Account - an account of Borrower owing from an Account Debtor located outside the United States, other than the Factoring Agreement with Milberx xxxxx includes accounts within the United States, which is sold, assigned or otherwise transferred to a Factor pursuant to a Factoring Agreement and upon which the Factor shall have agreed to assume the risk of credit loss.

  • Each item of the Accounts Receivable Collateral and each Factored Account arises or will arise under a contract between a Borrower and the respective Account Debtor, or from the bona fide sale or delivery of goods to or performance of services for the Account Debtor.

  • In the event that, any payment and/or transfer with regard to a Reassigned Factored Account is sought to be recovered by the payor or a representative thereof (including a trustee in bankruptcy or assignee for the benefit of creditors) on the grounds of preference, fraudulent conveyance and/or otherwise (“Avoidance Action”), then CIT shall promptly so advise GBG and Joe’s in writing.

  • Credit Risk - with respect to any Factored Account, the risk that such Account is not paid, in whole or in part, due to the Account Debtor's financial inability to pay.

  • Without limiting the generality of the foregoing, Joe’s releases CIT from its obligation to pay the purchase price on any Reassigned Factored Account, and all credit approvals previously issued by CIT with respect thereto are hereby withdrawn and rescinded.


More Definitions of Factored Account

Factored Account means any Account you offer to sell to us hereunder and we approve in writing in our sole discretion, and (z) the term “Factored Account Debtor” shall mean any Account Debtor on a Factored Account.
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Factored Account means an Account of a Client specifically assigned by Client to Exchange pursuant to a Purchase and Sale Agreement, the existence of which has been relied upon by Exchange in extending financial accommodations to that Client.
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Factored Account means those Receivables which have been assigned by Borrower to GMACCC and which have been credit approved by GMACCC under the Factoring Agreement.
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Factored Account means an Account of Xxxxxxxxxx for which Today's Man is the Account Debtor which is factored by Factor under the Factoring Agreement.
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Factored Account means an account of a Borrower which is factored by a Factor under a Factoring Agreement. Factored Accounts Formula Amount: on any date of determination thereof, an amount equal to 85% (or such lesser percentage as Lender may in its Permitted Discretion determine from time to time) of the net amount of Eligible Factoring Credit Balances on such date.
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Related to Factored Account

  • Covered Account means an Account established by a financial intermediary for another as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through BNYM.

  • Related Account means an Account with respect to which a new account number has been issued by the applicable Account Owner or the Servicer (a)(i) resulting from a lost or stolen credit or charge card relating to such Account (if such Account is a credit or charge card account) or (ii) under circumstances not requiring the standard application and credit evaluation procedures under the Credit Guidelines applicable to such Account, and (b) that can be traced or identified by reference to or by way of Schedule 1 to this Agreement and the computer or other records of the applicable Account Owner or the Servicer.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Card Account means the account maintained with the Bank in respect of the Card;

  • FIXED ACCOUNT is a separate investment account of ours into which purchase payments may be invested or Account Value may be transferred.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Linked Account means any controlled disbursement account or other deposit account at any time linked to any of the Collection Accounts maintained at Truist Financial Corp. by a zero balance account connection or other automated funding mechanism.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Qualified Account means an Account of Borrower generated in the ordinary course of Borrower's business from the rendition of Healthcare Services pursuant to a Customer Contract which Lender, in its sole credit judgment, deems to be a Qualified Account. Without limiting the generality of the foregoing, no Account shall be a Qualified Account if: (a) the Account or any portion of the Account is payable by an individual beneficiary, recipient or subscriber individually and not directly to Borrower by an Account Debtor acceptable to Lender in its sole discretion; (b) the Account remains unpaid more than one hundred and twenty (120) calendar days past the claim or invoice date (but in no event more than one hundred and thirty five (135) calendar days after the applicable Healthcare Services have been rendered); (c) the Account is subject to any defense, set-off, counterclaim, deduction, discount, credit, chargeback, freight claim, allowance, or adjustment of any kind; (d) any part of any goods the sale of which has given rise to the Account has been returned, rejected, lost, or damaged; (e) if the Account arises from the sale of goods by Borrower, the sale was not an absolute sale, or the sale was made on consignment or on approval or on a sale-or-return basis, or the sale was made subject to any other repurchase or return agreement, or the goods have not been shipped to the Account Debtor or its designee; (f) if the Account arises from the performance of Healthcare Services, where the Healthcare Services have not been actually been performed or the Healthcare Services were undertaken in violation of any law; (g) the Account is subject to a lien other than a Permitted Lien; (h) Borrower knows or should have known of the bankruptcy, receivership, reorganization, or insolvency of the Account Debtor; (i) the Account is evidenced by chattel paper or an instrument of any kind, or has been reduced to judgment; (j) the Account is an Account of an Account Debtor having its principal place of business or executive office outside the United States; (k) the Account Debtor is an Affiliate or Subsidiary of Borrower; (l) more than twenty percent (20%) of the aggregate balance of all Accounts owing from the Account Debtor obligated on the Account are outstanding more than one hundred and twenty (120) calendar days past their invoice date; (m) fifty percent (50%) or more of the aggregate unpaid Accounts from any single Account Debtor are not deemed Qualified Accounts under this Agreement; (n) the total unpaid Accounts of any single Account Debtor exceed twenty percent (20%) of the net amount of all Qualified Accounts; (o) any covenant, representation or warranty contained in the Loan Documents with respect to such Account has been breached; (p) any Account which is based on a contract which is invoiced and/or paid based on a percentage of completion basis; (q) any Account which is based on a contract in which Borrower is paid for services and which services have not yet been fully provided by Borrower; (r) any license fee (other than fees which are paid on a month-to-month basis and are otherwise eligible hereunder); or (s) the Account fails to meet such other specifications and requirements which may from time to time be established

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Transferred Account means each account into which an Account is transferred, provided that (i) such transfer is made in accordance with the Credit Card Guidelines and (ii) such account can be traced or identified as an account into which an Account has been transferred.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Investment Account As defined in Section 3.12(a).

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Cardholder Account is the account of a Cardholder as represented by a Card.

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Designated Account means the Deposit Account of Borrower identified on Schedule D-1 to the Agreement (or such other Deposit Account of Borrower located at Designated Account Bank that has been designated as such, in writing, by Borrower to Agent).

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Collection Accounts As defined in Section 3.10(a).

  • Note Account As defined in the Indenture.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.