Accounts Receivable Contract With Nike In San Antonio

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

Description

The Accounts Receivable Contract with Nike in San Antonio is a formal agreement between a seller and a buyer concerning the sale of accounts receivable. This contract outlines key features such as the seller's obligation to transfer all rights, titles, and interests in the specified accounts, as detailed in Exhibit 'A.' It includes seller representations regarding the accuracy of account balances and the conditions under which payments are made. The form provides options for the assignment of accounts with or without recourse, allowing buyers a degree of flexibility based on their due diligence. Buyers have a specified period to inspect the accounts, ensuring they can assess the quality of the receivables before finalizing the sale. The contract stipulates that any funds received after a certain date must be transferred to the buyer, along with provisions for repurchase if accounts default. Attorneys, partners, and owners will find this document crucial for establishing clear terms in the sale process, while associates, paralegals, and legal assistants can utilize it to ensure compliance with legal standards and proper documentation throughout the transaction.