Accounts Receivable Contract With Nike In Middlesex

• Category: Loans and Lending - Accounts Receivables
• State: Multi-State
• County: Middlesex
• Control #: US-00402
• Format: Word; Rich Text

Description

The Accounts Receivable Contract with Nike in Middlesex outlines the sale of accounts receivable between a seller and buyer. It details that the seller agrees to transfer all rights and interests in specified accounts, which must be clearly listed in an attached exhibit. Key features include seller representations about the validity and status of the accounts, assurance that there are no contingencies on payments, and a clause regarding any defenses or offsets related to the sold accounts. This document allows the buyer to inspect the accounts within a set timeframe and cancel the contract if dissatisfied. Additionally, it specifies whether the sale is 'with or without recourse,' which impacts the buyer's ability to reclaim funds if accounts default. This contract serves as a vital tool for attorneys, partners, and legal assistants involved in financial transactions, ensuring clarity and security when dealing with receivables. Owners and partners benefit from a structured approach to selling receivables, while associates and paralegals gain essential insights into contractual obligations and rights pertaining to such agreements.