COLLECTION MANDATE AND CASHING MANDATE Sample Clauses

The Collection Mandate and Cashing Mandate clause authorizes a party, typically a bank or agent, to collect payments or cash instruments on behalf of another party. In practice, this means the authorized party can receive funds, deposit checks, or process other negotiable instruments as instructed by the principal. This clause ensures that payments are efficiently managed and received by the correct party, reducing administrative burdens and minimizing the risk of misdirected or delayed funds.
POPULAR SAMPLE Copied 1 times
COLLECTION MANDATE AND CASHING MANDATE. Each of the French Sellers has well-proven administrative structures and methods for the management of its Receivables and the Parties agree that each French Seller should retain control of collection and cashing in respect of its Debtors. Consequently, the Factor accepts to grant each of the French Sellers mandates (mandats) under the terms specified below and subject to compliance by each of the French Sellers with the Credit and Collection Procedures, which form an integral part of the Agreement.
View SourceView Similar (3)
COLLECTION MANDATE AND CASHING MANDATE. The Company possesses well-proven administrative structures and methods for the management of its Receivables and it wishes to retain control of collection and cashing in respect of its Debtors. Consequently, the Factor accepts to grant the Company Mandates under the terms specified below and subject to compliance by the Company with the Collection Procedures, which form an integral part of the Agreement. 6.1. Common interest and onerous nature
View Source
COLLECTION MANDATE AND CASHING MANDATE. Each of the French Sellers has well-proven administrative structures and methods for the management of its Receivables and the Parties agree that each French Seller should retain control of collection and cashing in respect of its Debtors. Consequently, the Factor accepts to grant each of the French Sellers mandates (mandats) under the terms specified below and subject to compliance by each of the French Sellers with the Credit and Collection Procedures, which form an integral part of the Agreement. 72208170 35 7.1 Common interest The Mandates are stipulated in the joint interest of both Parties. Consequently, the Parties agree that the Mandates are not without consideration, since each of the French Sellers has an essential commercial interest in keeping control of collection and cashing from its Debtors and the terms and conditions of the Mandates have been considered by the Parties in the context of the global economy of the Agreement. In particular, the remuneration to be paid by the French Sellers to the Factor takes into account the fact that there is no collection fee to be paid by the Factor to the French Sellers in consideration for the collection of the Transferred Receivables.
View Source

Related to COLLECTION MANDATE AND CASHING MANDATE

  • Direction to Account Debtors; Contracting Parties; etc Subject to the Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default (but without limiting the provisions of the Credit Agreement), if the Collateral Agent so directs any Grantor, such Grantor agrees (x) to cause all payments on account of the Accounts and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Accounts and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x), and (z) that the Collateral Agent may enforce collection of any such Accounts and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as such Grantor. Subject to the Intercreditor Agreement, without notice to or assent by any Grantor, the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account toward the payment of the Obligations in the manner provided in Section 5.4 of this Agreement. The reasonable out-of-pocket costs and expenses of collection (including reasonable out-of-pocket attorneys’ fees), whether incurred by a Grantor or the Collateral Agent, shall be borne by the relevant Grantor. The Collateral Agent shall deliver a copy of each notice given to any such obligors referred to in the preceding clause (y) to the relevant Grantor, provided that (x) the failure by the Collateral Agent to so notify such Grantor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created by this Section 3.3 and (y) no such notice shall be required if an Event of Default of the type described in Section 8.01(f) of the Credit Agreement has occurred and is continuing.

  • Income Collection, Transaction Processing, Account Administration of a basis point per annum on the average net assets of the Fund.

  • Data Collection, Processing and Usage Personal data collected, processed and used by the Company in connection with Awards granted under the Plan includes the Grantee’s name, home address, email address, telephone number, date of birth, social insurance number or other identification number, salary, citizenship, job title, any shares of Common Stock or directorships held in the Company, and details of all Awards granted, cancelled, exercised, vested, or outstanding. In granting Awards under the Plan, the Company will collect the Grantee’s personal data for purposes of allocating shares of Common Stock in settlement of the Awards and implementing, administering and managing the Plan. The Company collects, processes and uses the Grantee’s personal data in compliance with Company’s Employment Data Protection Standards and the Uses of Employment Data for the Company’s Entities. The Grantee may exercise rights to access, correction, or restriction or deletion where applicable, by contacting the Grantee’s local HR manager or initiating a request through ▇▇▇.▇▇▇▇.gehealthcare.com.

  • Transaction Processing All orders are subject to acceptance by us and by the Fund or its transfer agent, and become effective only upon confirmation by us. If required by law, each transaction shall be confirmed in writing on a fully disclosed basis and if confirmed by us, a copy of each confirmation shall be sent to you if you so request. All sales are made subject to receipt of shares by us from the Funds. We reserve the right in our discretion, without notice, to suspend the sale of shares of the Funds or withdraw the offering of shares of the Funds entirely. Orders will be effected at the price(s) next computed on the day they are received if, as set forth in the applicable Fund’s current Prospectus, the orders are received by us or an agent appointed by us or the Fund prior to the close of trading on the New York Stock Exchange, generally 4:00 p.m. eastern time (“Close of Trading”). Orders received after that time will be effected at the price(s) computed on the next business day. All orders must be accompanied by payment in U.S. Dollars. Orders payable by check must be drawn payable in U.S. Dollars on a U.S. bank, for the full amount of the investment. If you have entered into a FundSERV Agreement with us to effect transactions in Fund shares through FundSERV, you are hereby authorized to act on our behalf for the limited purpose of receiving purchase, exchange and redemption orders for Fund shares executed through FundSERV. You represent and warrant that all orders for the purchase, exchange or redemption of Fund shares transmitted to FundSERV for processing on or as of a given business day (Day 1) shall have been received by you prior to the Close of Trading on Day 1. Such orders shall receive the share price next calculated following the Close of Trading on Day 1 .You represent and warrant that orders received by you after the Close of Trading on Day 1 shall be treated by you and transmitted to FundSERV as if received on the next business day (Day 2). Such orders shall receive the share price next calculated following the Close of Trading on Day 2. You represent that you have systems in place reasonably designed to prevent orders received after the Close of Trading on Day 1 from being executed with orders received before the Close of Trading on Day 1.

  • Deposit Accounts; Credit Card Arrangements (a) Annexed hereto as Schedule 5.21(a) is a list of all DDAs maintained by the Loan Parties as of the Closing Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository, and (iv) the identification of each Blocked Account Bank. (b) Annexed hereto as Schedule 5.21(b) is a list describing all arrangements as of the Closing Date to which any Loan Party is a party with respect to the processing and/or payment to such Loan Party of the proceeds of any credit card charges and debit card charges for sales made by such Loan Party.