Common use of Assignment of Accounts Receivable Clause in Contracts

Assignment of Accounts Receivable. Client hereby sells, transfers and assigns to A/R Funding as absolute owner, and A/R Funding hereby purchases and accepts from Client, except as set forth hereafter, certain accounts receivable now or hereafter created by Client's sales or services to customers acceptable to and approved by A/R Funding and represented by Client to be bonafide existing obligations of its customers arising out of and acquired by it in its ordinary course of its business, which receivables are or will be due and owing to Client without defense, offset or counterclaim.

Assignment of Accounts Receivable. Client hereby sells, transfers and assigns to A/R Funding as absolute owner, and A/R Funding hereby purchases and accepts from Client, except as set forth hereafter, certain accounts receivable now or hereafter created by Client's sales or services to customers acceptable to and approved by A/R Funding and represented by Client to be bonafide bona fide existing obligations of its customers arising out of and acquired by it in its ordinary course of its business, which receivables are or will be due and owing to Client without defense, offset or counterclaim.