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

  • 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 the event that the Contractor does not own, lease or hire any automobiles used in connection with performance under the Contract, the Contractor does not need to obtain Comprehensive Business Automobile Liability Insurance, but must attest to the factthat the Contractor does not own, lease or hire any automobiles used in connection with performance under the Contract.

  • 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.

  • 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on any Reassigned Factored Account, and all credit approvals previously issued by CIT with respect thereto are hereby withdrawn and rescinded.

  • For monthly purchases > $200,000.00, the purchase price of each Factored Account will be the Net Face Amount thereof, less a discount computed as a percentage of the Net Face Amount (the “Discount”).

  • 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.

  • An unredacted copy has been provided to the Committee, the Lender and the United States Trustee.an Order and if the approval with respect to such Order is in effect when an Account arises, thereafter CIT is responsible for the Customer Credit Risk on such Factored Account unless there is a breach of warranty with respect thereto (“Factor Risk Account”).

  • Fractals in the Fundamental and Applied Sciences (Honorary Chairman; Keynote Speaker).

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

  • Seller shall have no power or authority to deposit or in any way deal with the proceeds of any Factored Account.


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 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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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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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 credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.

  • 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.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.

  • Unallocated Account means the portion of the Trust to which Employer Contributions are made during the Plan Year, in which shares of Company Stock will be held prior to allocation to Participant Accounts, to which dividends paid on such shares of Company Stock will be paid, and from which will be paid expenses of the Plan and Under-Payment Expenses as defined in Section 3.5.

  • 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, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • 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 owing solely to the Company which meets the following requirements at the time it comes into existence and continues to meet the same until collected in full: (a) it arose from the performance of services by the Company, or from a bona fide sale or lease of goods, which have been delivered or shipped to an Account debtor in the United States, to Volvo, or a foreign debtor which has issued a transferable letter of credit acceptable to the Bank to secure payment, and for which the Company has genuine invoices, shipping documents or receipts; (b) it is not more than 60 days past due; (c) it is not owed by an Account debtor which has 50% or more of its aggregate dollar amount of Accounts owed to the Company unpaid more than 90 days past the earlier of performance of the services, delivery of goods or date(s) of invoice; (d) it is owned by the Company and not subject to any assignment, claim, lien, encumbrance or security interest whatsoever other than those securing the Company's obligations to the Bank; (e) it is a valid and legally enforceable obligation of an Account debtor which is (i) satisfactory to the Bank, (ii) not an Affiliate of the Company and (iii) not the United States of America or any department, agency or instrumentality thereof unless the Company has complied with the Assignment of Claims Act of 1940, to the satisfaction of the Bank; (f) it is not subject to setoff, counterclaim, credit allowance, or adjustment by the Account debtor thereunder, except for discount for prompt payment, or to any claim by such Account debtor denying liability thereunder in whole or in part, and such Account debtor has not refused to accept and has not returned or offered to return any of the goods which are subject to such Account; (g) it arose in the ordinary course of the Company's business and in compliance with all Requirements of Law; (h) the Company has no notice or knowledge of the bankruptcy, insolvency, or similar proceeding of the Account debtor thereunder, or of the inability of the Account debtor thereunder to pay its debts as they become due, or of anything which might impair the credit standing of the Account debtor; (i) it is assignable to the Bank and it does not arise out of a contract or order which by its terms forbids or makes void or unenforceable the assignment by the Company to the Bank of the Account arising with respect thereto; (j) it is not evidenced by instruments or chattel paper unless the same has been endorsed and delivered to the Bank; (k) it does not arise from a sale on consignment, sale on return, bill and hold sale or any other type of conditional sale except as perxxxxed in writing by the Bank; and (l) it is certified by the Company within fifteen days after the end of each month (or at such more frequent intervals as the Bank shall request) as to the amount thereof and all other matters set forth herein or reasonably required by the Bank. A Qualified Account which subsequently fails to meet any of the foregoing requirements, shall forthwith cease to be a Qualified Account.

  • 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.

  • 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 personalised account of the Client consisting of all Completed Transactions, Open Positions and Orders in the Trading Platform, the balance of the Client money and deposit/withdrawal transactions of the Client money.