Factoring Account definition

Factoring Account means a special account that is opened by Party A under Party B’s services and used for collecting account receivables, deducting principal and interests of factoring financing, paying factoring balance, which is the solely legitimate account for collecting account receivables under this Contract;
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Factoring Account. The designated account that Party B opens under the Contract with Party A for the purposes of collecting accounts receivable, deducting factoring financing principal and interests and payment of factoring balance; the only eligible account for collecting the accounts receivable under this Contract;
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Factoring Account. Account on which the purchased Receivables are booked in their aggregate amount.
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Examples of Factoring Account in a sentence

  • Fees may be charged to your Factoring Account as incurred or billed to you, at our option.

  • All factoring fees or charges are due when posted and charged to your Factoring Account.

  • Without Party A’s consent, Party B is not allowed to withdraw any amount from the Factoring Account or issue an order of payment from such Factoring Account.

  • All factoring commissions or surcharges are due when posted and charged to the Factoring Account.

  • No. 33-2.Regarding the Minimum Commission Fee, Paragraph 23 provides: If the actual factoring fees or charges paid to [CIT] by [the Debtor] during any Contract Year, or part thereof, are less than $35,000, [CIT] shall charge [the Debtor’s] Factoring Account as of the end of such Contract Year with an amount equal to the difference between the actual factoring fees or charges paid during such Contract Year and the Minimum Commission Fees.

  • In the event that you elect to terminate this Agreement other than in accordance with the provisions hereof or if we terminate this Agreement as the result of an Event of Default terminates, you shall pay to us, any we may charge the Factoring Account with, an amount equal to twenty-five percent (25%) of the Reserve, not as a penalty but as liquidated damages to compensate us for loss of profits, recovery of expenses, and other damages resulting from such termination.

  • If the Factoring Account is overdrawn, the Client shall immediately, and without a notice of default being required, repay the amount by which the account is exceeded to the Factor.

  • Accounts: The accounts maintained in the factoring procedure: Factoring Account, Incoming Payment Settlement Account, Purchase Price Reserve Account, Reserve Account, Settlement Account, Special Account, Special Settlement Account, Special Purchase Price Reserve Account.

  • Fakat böyle bir önerme neredeyse tüm ülkelerin patent yasaları ile getirdiği çeşitli sınırlamalar nedeniyle geçerliliğini yitirir.

  • Accounts: The Accounts maintained in the factoring procedure: Factoring Account, Incoming Payment Settlement Account, Purchase Price Reserve Account, Reserve Account, Settlement Account, Special Account, Special Settlement Account, Special Purchase Price Reserve Account.


More Definitions of Factoring Account

Factoring Account has the meaning attached to it in article 6.6 of these General Terms and Conditions; Factoring Agreement — General Terms and Conditions 1/8 Factoring Fee has the meaning attached to it in the Special Terms and Conditions; Financing Limit has the meaning attached to it in the Special Terms and Conditions; Financing Percentage has the meaning attached to it in the Special Terms and Conditions;
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Factoring Account means an account established and maintained by the Bank to record all sums payable or paid to the Seller, all payments received in relation to Debts and all charges, expenses and other sums payable or paid by the Seller to the Bank under this Agreement;
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Factoring Account is the account with the Bank on which the credit is booked.
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Factoring Account means any contract or agreement (including any schedule, addendum or amendment thereto or assignment, assumption, renewal or novation thereof) and any ancillary agreements, documents or instruments relating thereto, pursuant to which a Person (i) agrees to acquire (whether initially or as an assignee) or assume a risk of nonpayment for Receivables, whether or not relating to the purchase of Receivables or the advancing of funds in anticipation of payment of Receivables, or (ii) agrees to grant credit in respect of Receivables which the Person has the right or obligation to acquire.
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Factoring Account has the meaning ascribed thereto in Clause 11.1;
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Related to Factoring Account

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

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

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

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

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

  • Checking Account means a Demand Deposit account (DDA), a Negotiable Order of Withdrawal (NOW) account, a Savings account and a Money Market account at the Bank that you open through the Bank website; "Account" includes any Checking, Certificate of Deposit, or Savings account at the Bank opened through the Website or in person; "Card" means an automated teller machine card and/or a VISA debit card that accesses your Checking, Savings, Money Market, or NOW account; "PIN" means the personal identification number you use in connection with your Card; "Password" means the password you use to access the Website and your Bank Accounts through a personal computer or other electronic terminal; "Access Device" means your Card, Password, or other device or code we make available to you to access your Accounts; "Business Day" means Monday through Friday, except federal holidays; and "Authorized User" means any person you authorize or permit to use your Card, Password or other Access Device to access your Accounts, whether that person uses the Access Device to obtain information or to conduct a transaction. This EFT Agreement is part of the Banking Documents. Other terms used in this EFT agreement may be defined elsewhere in the Banking Documents. • ATM Safety • Funds Transfers • Other Electronic Fund Transfer Services • Liability For Unauthorized Electronic Transfers • Other Electronic Fund Transfer Services Types of Transactions‌ We offer the following types of Electronic Fund Transfers (EFT) Services for your Checking Account. • Direct Deposits. You can arrange for direct deposits to your checking and savings account(s). • Preauthorized Credits/Debits. We accept, on your behalf preauthorized Credits/Debits drawn on your Deposit Accounts which allow unrestricted activity. Through our electronic bill payment service, you are able to electronically transfer funds from your Deposit Account to other parties, provided the account allows such activity. We may conduct these transactions via Automated Clearinghouse (ACH) transfer. We may also accept and direct funds by wire transfer. Each of these services has unique fees associated with the transaction. Please consult our Schedule of Fees herein. When you provide the party initiating the withdrawal or deposit with advance authorization to make recurring ACH transfers to or from your Account, the transfers are referred to as "preauthorized transfers." Because these preauthorized transfers are performed electronically through the ACH, they are governed by federal regulations pertaining to EFT Services, which entitle you to certain benefits and protections in connection with the EFT Services, such as the right to receive a copy of your written authorization to make preauthorized transfers from your Account from the party that obtains it. • ATM and Point-of-Sale Transactions. ATM Transactions. ATM Cards issued by us to you remain our property and you may be requested to return the Card to us at any time for any reason. Each card is used in conjunction with an authorizing Personal Identification Number ("PIN"). To guard against someone initiating a transaction that you have not authorized, you must take all reasonable precautions to prevent any other person from learning your PIN. If you permit or authorize another person to use your Card and PIN, you will be liable for all resulting transactions. You may use your Card at ATMs which are a part of an Electronic Funds Transfer service network to which the Bank belongs ("EFT network"). ATM withdrawals are available up to the daily authorization limits disclosed below, provided the available balance in the Deposit Account associated with your card is greater than or equal to the amount requested, plus any fees that may be charged along with the cash disbursement. • Withdraw cash from your Checking Account. • Find out your Checking Account balances. • Transfer funds between your own accounts at the Bank (if available on the ATM in use). • Withdraw cash from your Savings Account. • Make deposits to your own accounts.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

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

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Control Account means a Securities Account or Commodities Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodities Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

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

  • Facility Account means the account numbered 0000000 maintained by Seller in the name of “PDC Funding Company, LLC” at JPMorgan, together with any successor account or sub-account.

  • Control Account Agreement means any tri-party agreement by and among a Loan Party, the Administrative Agent and a depositary bank or securities intermediary at which such Loan Party maintains a Controlled Account, in each case in form and substance satisfactory to the Administrative Agent.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • 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.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

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

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

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Financial Account means an account maintained by a Financial Institution, and includes: (1) in the case of an Entity that is a Financial Institution solely because it is an Investment Entity, any equity or debt interest (other than interests that are regularly traded on an established securities market) in the Financial Institution; (2) in the case of a Financial Institution not described in subparagraph 1(q)(1) of this Article, any equity or debt interest in the Financial Institution (other than interests that are regularly traded on an established securities market), if (i) the value of the debt or equity interest is determined, directly or indirectly, primarily by reference to assets that give rise to U.S. Source Withholdable Payments, and (ii) the class of interests was established with a purpose of avoiding reporting in accordance with this Agreement; and (3) any Cash Value Insurance Contract and any Annuity Contract issued or maintained by a Financial Institution, other than a noninvestment- linked, nontransferable immediate life annuity that is issued to an individual and monetizes a pension or disability benefit provided under an account that is excluded from the definition of Financial Account in Annex II. Notwithstanding the foregoing, the term “Financial Account” does not include any account that is excluded from the definition of Financial Account in Annex II. For purposes of this Agreement, interests are “regularly traded” if there is a meaningful volume of trading with respect to the interests on an ongoing basis, and an “established securities market” means an exchange that is officially recognized and supervised by a governmental authority in which the market is located and that has a meaningful annual value of shares traded on the exchange. For purposes of this subparagraph 1(q), an interest in a Financial Institution is not “regularly traded” and shall be treated as a Financial Account if the holder of the interest (other than a Financial Institution acting as an intermediary) is registered on the books of such Financial Institution. The preceding sentence will not apply to interests first registered on the books of such Financial Institution prior to July 1, 2014, and with respect to interests first registered on the books of such Financial Institution on or after July 1, 2014, a Financial Institution is not required to apply the preceding sentence prior to January 1, 2016.