Factored Accounts definition

Factored Accounts means the trade accounts receivable of Designers, Item-Eyes and, with the approval of the Agent and the Required Banks, any other existing or future Subsidiary of the Borrower, created in the ordinary course of business which have been purchased and/or assigned to the Factor under a Factoring Agreement, which may include trade accounts receivable for which the Factor has no credit risk.

Factored Accounts means trade accounts receivable of Borrowers created in the ordinary course of business which have been purchased by the Factor pursuant to a Factoring Agreement.

Factored Accounts shall have the meaning set forth under "Eligible Accounts."

Examples of Factored Accounts in a sentence

• Upon the actual sale of Identified Accounts pursuant to such factoring arrangement (such sold accounts being "Factored Accounts"), the Lien of the Collateral Agent shall be automatically released pursuant to the Security Agreement.

• Company shall maintain, and shall furnish to Factor on request, such other supporting documents and reports with respect to the Factored Accounts as Factor may reasonably request from time to time.

• 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.

• Each of your invoices with respect to the Factored Accounts shall bear a notice (in form and content approved by us) that the Account represented thereby has been sold, assigned and transferred to us or our assignee, and is owned by and payable only to us or our assignee.

• In addition to the foregoing, at any time and from time to time upon our request, in our sole and absolute discretion, we may require that any or all of your invoices with respect to Accounts that are not Factored Accounts (such Accounts herein called “Pledged Accounts”) shall bear a notice (in form and substance approved by us) that the Pledged Account represented thereby has been assigned to us or our assignee as collateral, and must be paid only to us or our assignee.

More Definitions of Factored Accounts

Factored Accounts means all Accounts, Instruments, Documents, Chattel Paper and General Intangibles which are (a) initially owing to Company by a Customer, and (b) subsequently purchased by Factor from Company pursuant to this Agreement. Factored Accounts shall include all returned or repossessed goods arising out of or relating to the sale or other disposition of goods giving rise thereto, all proceeds thereof and the merchandise represented thereby, and all invoices and other records evidencing or pertaining to the Factored Accounts.

Factored Accounts means all accounts of any Borrower actually purchased by a Permitted Factor in connection with a factoring program approved by the Required Lenders, which factoring program, among other things, shall not provide for any loans or advances to be made to any of the Borrowers on account of accounts to be purchased by such Permitted Factor or any Lien on accounts or related assets not purchased or identified for purchase by such Factor.

Factored Accounts means any of Sellers’ accounts and/or receivables sold to a factor or otherwise factored by Sellers within 60 days prior to Closing that remain uncollected by the factor as of the Closing.

Factored Accounts as defined in Section 10.19(f).

Factored Accounts means all accounts of the Borrower or any Subsidiary purchased or approved by a Permitted Factor in connection with a factoring program approved by the Lender.

Factored Accounts are accounts receivable or other xxxxxxxx factored or sold pursuant to the Factoring Agreement.

Factored Accounts has the meaning specified in Section 7.3(d).