Common use of Purchase of Accounts Receivable Clause in Contracts

Purchase of Accounts Receivable. a. For Customer Accounts listed under the Company’s SATC Rate Schedule : (1) Residential, (2) Small Commercial and Public Authority with annual consumption less than 250 Mcf per year, (3) Small Commercial and Public Authority with annual consumption between 250 and 1,000 Mcf per year, and (4) Small Volume Industrial customers with annual consumption less than 1,000 Mcf per year and subject to the other terms and conditions of this Agreement: Marketer hereby assigns, sells and conveys to Company free and clear of all liens, claims and encumbrances, and Company agrees to purchase without recourse except as described in sections B.11 and B.12 below, Marketer’s right, title and interest in all accounts receivable, being amounts due from all such Customers as shown on CBS bills issued by Company on and after the later of July 17, 2010 or the effective date of this Agreement and past due amounts due from such Customers on consolidated bills issued previously under any prior consolidated billing service agreement with Company, provided that such prior amounts are included in the consolidated ▇▇▇▇ balance as of July 17, 2010 (“Purchased Customer Accounts”). b. Title to Marketer’s Purchased Customer Accounts shall pass to Company as of the date bills are issued by Company (the “Billing Date”), and as of such Billing Date Marketer shall have no rights in or to the Purchased Customer Accounts and shall not seek to collect in any manner such amounts from Customers or pledge or attempt to encumber such amounts as security. Provided, however, that title shall pass back to Marketer to the extent that such receivables are returned to Marketer pursuant to Section B.12.a.

Purchase of Accounts Receivable. a. For Customer Accounts listed under the Company’s SATC Rate Schedule Schedule: (1) Residential, (2) Small Commercial and Public Authority with annual consumption less than 250 Mcf per year, (3) Small Commercial and Public Authority with annual consumption between 250 and 1,000 Mcf per year, and (4) Small Volume Industrial customers with annual consumption less than 1,000 Mcf per year and subject to the other terms and conditions of this Agreement: Marketer hereby assigns, sells and conveys to Company free and clear of all liens, claims and encumbrances, and Company agrees to purchase without recourse except as described in sections B.11 and B.12 below, Marketer▇▇▇▇▇▇▇▇’s right, title and interest in all accounts receivable, being amounts due from all such Customers as shown on CBS bills issued by Company on and after the later of July 17, 2010 or the effective date of this Agreement and past due amounts due from such Customers on consolidated bills issued previously under any prior consolidated billing service agreement with Company, provided that such prior amounts are included in the consolidated ▇▇▇▇ bill balance as of July 17, 2010 (“Purchased Customer Accounts”). b. Title to Marketer’s Purchased Customer Accounts shall pass to Company as of the date bills are issued by Company (the “Billing Date”), and as of such Billing Date Marketer shall have no rights in or to the Purchased Customer Accounts and shall not seek to collect in any manner such amounts from Customers or pledge or attempt to encumber such amounts as security. Provided, however, that title shall pass back to Marketer to the extent that such receivables are returned to Marketer pursuant to Section B.12.a.