Net Face Amount means, with respect to an Account, the gross face amount of such Account less all trade discounts or other deductions to which the Account Debtor is entitled.
Net Face Amount of Receivables means the gross face invoice amount thereof, less returns, discounts (the calculation of which shall be determined by Lender where optional terms are given), anticipation or any other unilateral deductions taken by Customers, and credits and allowances to Customers of any nature.
Net Face Amount means the face amount of an Account less any allowances, discounts or deductions available to an Account Debtor or any other deduction that Borrower may make available, including so called 2/10 (or similar) discounts.
Examples of Net Face Amount in a sentence
Borrower shall pay, on demand, (a) the Net Face Amount of all Delinquent Accounts; or (b) the Net Face Amount of Accounts more than sixty (60) days past due.
On demand, Borrower shall pay to Lender (a.) the Net Face Amount of all Delinquent Accounts; or (b.) the Net Face Amount of Accounts more than sixty (60) days past due.
The words “Borrowing Base” mean an amount equal to the total of (a) ONE HUNDRED PERCENT (100%) of the unpaid Net Face Amount (further net of such reserves and allowances as the Lender deems necessary in its discretion) of all Eligible Accounts owned by Borrower, plus (b) the positive collected balance in the Collection Account.
The purchase price of Accounts is the Net Face Amount thereof less Factor's commission.
The purchase price of Accounts is the Net Face Amount thereof less Factor’s commission.
More Definitions of Net Face Amount
Net Face Amount the gross amount of a Purchased Account, based on shortest selling terms, less all credits, discounts, and allowances to which the Account Debtor is entitled.
Net Face Amount means the gross amount of an Account, less any returns, allowance or discount allowed in the ordinary course of business.
Net Face Amount means the gross amount of Receivables, less trade and cash discounts to customers (which shall be computed on the shortest terms where optional terms are given) and credits and allowances to customers of any nature. After purchase of Receivables by you, a discount, credit or allowance may be claimed solely by the customer and the customer and the undersigned will not issue or grant any discounts, credits or allowances to a customer without your prior consent. At the time of purchase of Receivables and periodically thereafter, you may in your sole and absolute discretion make advances to us and/or arrange for the issuance of letters of credit for our benefit which advances and letters of credit, in the aggregate and at anytime outstanding, will not exceed the lesser of (i) $3,500,000 (the "Maximum Revolving Amount"), or (ii) eighty percent (80%) of the purchase price, and you will credit to our account the balance of said purchase price less any monies remitted, paid or otherwise advanced by you for our account and less returns, trade and cash discounts, credits or allowances of any nature at anytime issued, owed, granted or outstanding, upon the respective collection of such Receivables, after adding thereto five (5) banking days to cover mailing time, delays in remittances and clearance of checks, or, in the case of approved Receivables, upon their respective uncollectability because of the customer's financial inability at maturity to pay same. Notwithstanding the foregoing, it is understood that you may, at our request, from time to time advance a sum that is more or less than the sum determined by the application of the above percentage of the purchase price and may, in fact, make advances in excess of the Maximum Revolving Amount but you are under no obligation to do so; all advances in excess of the aforesaid percentage, less all applicable deductions, charges, chargebacks and reserves, and all advances in excess of the Maximum Revolving Amount, are repayable on demand. Amounts taken by customers for anticipation shall be charged to our account by you. The minimum aggregate factoring charges payable under this Agreement for each contract year hereof shall be two hundred thousand dollars ($200,000), which, to the extent of any deficiency, shall be chargeable to our account with you on a monthly basis (i.e., to the extent the monthly factoring charge is less than $16,666.66, the deficiency shall be chargeable to our account). You shall be entitled to h...
Net Face Amount with respect to an Account , the gross face amount of such Account less all trade discounts or other deductions to which the Account Debtor is entitled.
Net Face Amount means the gross face amount of the invoice, less returns, discounts (which shall be determined by us where optional terms are given), anticipation reductions or any other unilateral deductions taken by customers, and credits, and allowances to customers of any nature. The purchase price will be payable on the "Maturity Date" (hereinafter described). At the close of each month, we will compute the average due date of all Receivables purchased by us during the month. In computing the average due date we will take into account all credits issued to customers. The Maturity Date for all such Receivables will be five (5) business days after the average due date. We may deduct, from the amount payable to you on any Maturity Date, reserves for all Obligations then chargeable to your account and Obligations which, in our sole judgment, may be chargeable to your account thereafter including, but not limited to, ineligible Receivables, Receivables which are not credit approved, disputes, deductions, allowances, credits, xxxx and hold and consignment sales, other offsets asserted or granted, ineligible Inventory and such additional amounts as we in our sole judgment deem appropriate (collectively, "Reserves").
Net Face Amount means, with respect to any Eligible Obligor Receivable as of any date of determination, the product of (x) the Face Amount of such Eligible Obligor Receivable multiplied by (y) the applicable Net Face Percentage for the relevant Eligible Obligor Group as of such date of determination.
Net Face Amount means, with respect to any Purchased Asset, the face amount of such Purchased Asset less all Trade Discounts, if applicable, and less an established rate for chargebacks of eight percent (8%).