Accounts Receivable Contract With Nike In Minnesota

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

Description

The Accounts Receivable Contract with Nike in Minnesota is a legal document that facilitates the sale of accounts receivable from a seller to a buyer. This agreement confirms the seller's obligation to transfer all rights, titles, and interests in specified accounts, which are detailed in an attached exhibit. Key features include representations by the seller regarding the ownership and status of the accounts, with specific terms concerning any contingencies, defenses, or offsets. Additionally, the form stipulates the recourse conditions under which accounts may be resold to the seller if they become defaulted. For completion, users must fill in the names of the parties, account details, and relevant dates, while ensuring they conduct due diligence within a specified inspection period. This form is particularly useful for attorneys, partners, and owners involved in financial transactions, as it provides a clear framework for the sale of accounts receivable while ensuring compliance with Minnesota laws. Paralegals and legal assistants can utilize this document for facilitating contract drafting and ensuring all necessary details are captured accurately.