Receivable Contract With Nike In Los Angeles

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

Description

The Receivable Contract With Nike In Los Angeles is a legal agreement outlining the sale of accounts receivable between a seller and Nike as the buyer. The contract specifies that the seller is transferring all rights, titles, and interests in accounts listed in an attached exhibit, alongside all associated invoices and funds due. Key features include seller representations regarding the completeness of the accounts, the status of goods or services, and warranty against any defenses or claims. The contract also contains clauses on the recourse nature of the sale, providing a mechanism for the buyer to reconvey accounts in default. A due diligence period of ___ days allows the buyer to inspect the accounts and cancel the agreement if unsatisfied. The form is particularly useful for attorneys, partners, and paralegals who need to ensure compliance and enforceability, as well as owners who may be negotiating terms. Legal assistants can benefit from guidance on filling out the form accurately, while associates may find it pivotal in closing sales. This document is essential for anyone engaging in the sale of accounts in a commercial context, especially in complex transactions involving large corporations like Nike.