Examples of Sold Receivable in a sentence
Except as set forth in Section 3.1.B(3), without the prior written consent of Purchaser, Seller will not amend, modify or waive any term or condition of any Contract underlying any Sold Receivable, which amendment, modification or waiver would adversely affect the validity, enforceability or collectibility of such Receivable or adversely affect Purchaser's right to collect any Sold Receivables.
Not (i) make any material change in the character of its business which change would impair the collectability of any Sold Receivable or (ii) make any change in the Credit and Collection Guidelines that would materially and adversely affect the collectability of the Sold Receivables, the credit quality of the Sold Receivables or the enforceability of any Contract.
The Collection Agent will endeavor to collect the amount owing to Purchaser on each Sold Receivable in accordance with terms hereof, as and when the same becomes due, at Seller's cost and expense and as agent for Purchaser, but subject to the right of Purchaser to direct and control such activities in accordance with the terms hereof.
All payments and all amounts received in settlement, adjustment or liquidation of any Sold Receivable will be credited by Purchaser on the Business Day good funds are received by Purchaser.
With respect to any Sold Receivable as of any date, the total outstanding principal balance thereof as of such date.