Collection Arrangement Clause Samples

A Collection Arrangement clause defines the procedures and responsibilities for collecting payments or receivables under an agreement. Typically, it outlines which party is authorized to collect funds, how those funds should be handled or distributed, and any specific instructions regarding timing or method of collection. For example, it may require that payments be deposited into a designated account or that a third party acts as a collection agent. The core function of this clause is to ensure clarity and prevent disputes by specifying exactly how and by whom collections are managed.
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Collection Arrangement. (i) The Borrower shall direct all of its Account Debtors to make all electronic payments on the Accounts directly to a special account maintained by Borrower with Libertyville Bank (the “Collection Account”) which shall be under the control of Lender as provided for in the Blocked Account Agreement. Borrower will immediately deposit all payments made on the Accounts, and received by the Borrower, in the identical form in which such payments were made, whether by cash or check, into the Collection Account. If the Borrower, a Subsidiary or any director, officer, employee, agent or the Borrower or any Subsidiary, or any other Person acting for or in concert with the Borrower shall receive any monies, checks, notes, drafts or other payments relating to or as proceeds of Accounts or other Collateral, the Borrower and each such Person shall receive all such items in trust for, and as the sole and exclusive property of, the Lender and, immediately upon receipt thereof, shall remit the same (or cause the same to be remitted) in kind to the Collection Account. The Borrower agrees that all payments made to such Collection Account or otherwise received by Borrower, whether in respect of the Accounts or as proceeds of other Collateral or otherwise, will be applied as provided in this Agreement. The Borrower agrees to pay all fees, costs and expenses in connection with opening and maintaining the Collection Account (including, but not limited to, any fees or expenses of Lender). (ii) So long as no Unmatured Default or Event of Default shall have occurred hereunder and remain continuing, Borrower shall be permitted to withdraw from the Collection Account collected funds therein up to an amount equal to the amount by which the Borrowing Base exceeds the outstanding principal balance of the Revolving Loans at such time, subject to demonstration thereof by submission of a new Borrowing Base Certificate and AR Report for that purpose.
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Collection Arrangement. 2.1 The Products may only be collected or delivered within the territory of Hong Kong. 2.2 Upon agreement by both Parties, Party B may collect goods at Party A’s warehouse, or Party A may deliver the Products to a receiving address designated by Party B in the order. Party B shall bear the costs arising from the collection or delivery of goods. 2.3 Unless otherwise agreed to by both Parties, Party A shall deliver the Products to Party B within 15 working days. 2.4 Party B shall begin to sell the Products upon its receipt thereof. 2.5 After the collection or delivery of goods, Party B may not return relevant Products, unless any problem occurs in the customs declaration for the export thereof.
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Collection Arrangement. Each Account Debtor shall be instructed by the Borrower to remit payments on all Accounts Receivable owing by it (other than Takeover Accounts Receivable owing by it) to a post office box owned and designated by CIT. All proceeds from the collection of Accounts Receivable and the sale of the Inventory and other Collateral of the Borrower received each day in such post office box shall be deposited in Depository Accounts established by CIT. CIT shall cause all available funds contained in the Depository Accounts to be transferred on a daily basis to the Funds-in-Use Account. Any collection by the Borrower of the proceeds of Accounts Receivable and proceeds of the sale of the Inventory and other Collateral of the Borrower shall be made for CIT, and the Borrower shall receive all payments thereon as CIT's trustee, and immediately transfer all such payments in kind, with proper endorsement, if necessary, directly to CIT or into a Depository Account.
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Collection Arrangement. GE CAPITAL is – in particular prior to the occurrence of an enforcement event – entitled to solely collect the pledged claims. The ORIGINATOR may only demand payment to GE CAPITAL;
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Related to Collection Arrangement

  • Distribution Arrangements Subject to compliance with the 1940 Act, the Trustees may retain underwriters and/or placement agents to sell Trust Shares. The Trustees may in their discretion from time to time enter into one or more contracts, providing for the sale of the Shares of the Trust, whereby the Trust may either agree to sell such Shares to the other party to the contract or appoint such other party its sales agent for such Shares. In either case, the contract shall be on such terms and conditions as the Trustees may in their discretion determine not inconsistent with the provisions of this Article IV or the By-Laws; and such contract may also provide for the repurchase or sale of Shares of the Trust by such other party as principal or as agent of the Trust and may provide that such other party may enter into selected dealer agreements with registered securities dealers and brokers and servicing and similar agreements with persons who are not registered securities dealers to further the purposes of the distribution or repurchase of the Shares of the Trust.

  • Escrow Arrangement The Company and the Purchaser shall enter into an escrow arrangement with ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ & Green, P.C. (the "Escrow Agent") in the Form of EXHIBIT B hereto respecting payment against delivery of the Shares.

  • PAYMENT ARRANGEMENTS If the Distributor is required to indemnify the Trader under section 46A of the Consumer Guarantees Act 1993, the Distributor must promptly pay the Trader the amounts due under that Act.

  • Implementation Arrangements Institutional Arrangements

  • Escrow Arrangements (a) The Parties agree that an aggregate amount equal to ten percent (10%) of the Aggregate Purchase Price, as apportioned among the Selling Shareholders as set out in Column 5 of Schedule II (including Appendix A thereto) (the “Tax Escrow Amount”), shall be deducted from the Aggregate Purchase Price payable at Closing and deposited in an escrow account (the “Tax Escrow Account”) at the Closing pursuant to an escrow agreement (the “Escrow Agreement”) to be entered into among JPMorgan Chase Bank, N.A. (the “Escrow Agent”), Purchaser and the Shareholders Representative. Purchaser and the Shareholders Representative shall enter into the Escrow Agreement with the Escrow Agent as promptly as practicable following the date hereof. Any administrative fees and expenses of the Escrow Agent (“Tax Escrow Fees”) will be paid using funds distributed from the Tax Escrow Account (for the avoidance of doubt, each Selling Shareholders’ obligation to the Tax Escrow Fees shall be several but not joint). The Tax Escrow Fees will be allocated among each of the Selling Shareholders in accordance with its Seller Pro Rata Share thereof. After a Selling Shareholder (or Purchaser, on behalf of such Selling Shareholder) has filed the Tax Returns in accordance with Section 7.08, the relevant Tax Escrow Amount allocated to such Selling Shareholder (net of such Selling Shareholder’s allocated portion of the Tax Escrow Fees) shall be (and Purchaser shall deliver written instructions to instruct the Escrow Agent to cause the relevant Tax Escrow Amount to be): (i) released and paid to the Relevant PRC Tax Authority to settle any Selling Tax of such Selling Shareholder directly from the Tax Escrow Account pursuant to written instruction by Purchaser to the Escrow Agent, subject to the prior written consent of such Selling Shareholder or the Shareholders Representative, within five (5) Business Days after Purchaser has received an explanation letter prepared by the Qualified Tax Advisor together the account details of the tax collection account of such Relevant PRC Tax Authority, with any balance remaining out of such relevant portion of the Tax Escrow Amount to be concurrently released and distributed to such Selling Shareholder within ten (10) Business Days thereafter, (ii) released and distributed to such Selling Shareholder within ten (10) Business Days after Purchaser has received the tax payment receipt (“税收缴款书” in Chinese) or such other adequate evidence to its reasonable satisfaction that such Selling Shareholder has fully paid the relevant Selling Tax, or (iii) released and distributed to such Selling Shareholder within ten (10) Business Days after Purchaser has received adequate evidence to its reasonable satisfaction that no such Taxes are required to be paid by such Selling Shareholder in connection with the Transactions. (b) The Parties further agree that an aggregate amount equal to nine percent (9%) of the Aggregate Purchase Price, as apportioned among each Selling Shareholder as set out in Column 6 of Schedule II (including Appendix A thereto) (the “Audit and Indemnity Escrow Amount”), shall be deducted from the Aggregate Purchase Price payable at Closing and deposited in an escrow account (the “Audit and Indemnity Escrow Account”) at the Closing pursuant to the Escrow Agreement. Any administrative fees and expenses of the Escrow Agent (“Audit and Indemnity Escrow Fees”) will be paid using funds distributed from the Audit and Indemnity Escrow Account (for the avoidance of doubt, each Selling Shareholders’ obligation to the Audit and Indemnity Escrow Fees shall be several but not joint). The Audit and Indemnity Escrow Fees will be allocated among each of the Selling Shareholders in accordance with its Seller Pro Rata Share thereof. The Escrow Agent shall make disbursements from the Audit and Indemnity Escrow Account pursuant to written instruction by Purchaser to the Escrow Agent in accordance with Section 2.05 and Section 9.04.