This agreement of sale, transfer & assignment of accounts receivable template has 4 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our agreement of sale, transfer & assignment of accounts receivable template:
AGREEMENT OF SALE, TRANSFER AND ASSIGNMENT OF ACCOUNTS RECEIVABLE This Agreement of Sale, Transfer and Assignment of Accounts Receivable (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Assignor"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the "Assignee"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS the Assignee has, as of [DATE] at [TIME am/pm], entered into an Asset Sale Agreement (the "Sale Agreement") pursuant to which the Assignor sold, transferred, conveyed and assigned to the Assignee certain assets of the Assignor, including inter alia, the accounts receivable relating to the business and operations of the [NUMBER] (the "Division") of the Assignor, upon the terms and conditions set out in the said Sale Agreement; WHEREAS the Assignee has entered into this Agreement in order to record their mutual understanding as to the manner in which the said accounts receivable of the Division are sold, transferred, conveyed and assigned by the Assignor to the Assignee; NOW THEREFORE THE PARTIES HEREBY AGREE AS FOLLOWS: 1. PREAMBLE The preamble hereof forms an integral part of this Agreement. 2. SALE, TRANSFER, CONVEYANCE AND ASSIGNMENT As of [DATE] (the "Effective Date"), the Assignor hereby sells, transfers, conveys and assigns to the Assignee, hereby accepting, all of the Accounts Receivable of the Division (as defined at section 2.2 hereof) due as of [DATE] or to become due thereafter. The term Accounts Receivable as used herein shall mean all debts, claims and demands of the Division, including, but without limiting the generality of the foregoing, all book debts, together with all judgments and other securities for the said debts, claims and demands of the Division and all other rights in respect thereof which as of the Effective Date or thereafter become vested in the Assignor. As of the Effective Date, the Assignor hereby sells, transfers, conveys and assigns to the Assignee, hereby accepting, all books and accounts, letters, invoices, papers and documents in any way evidencing or relating to all or any of the Accounts Receivable hereby sold, transferred, conveyed and assigned. 3. RIGHTS OF ASSIGNEE 3.1 As of the Effective Date, the Assignee shall have the right to collect, demand, sue for, enforce, recover and receive the Accounts Receivable and to give valid and binding receipts and discharges therefore and in respect thereof. 3.2 All moneys received by the Assignor on or after the Effective Date from the collection of the Accounts Receivable, shall be received in trust for the Assignee and remitted to it forthwith. 4. CONSIDERATION The present sale, transfer, conveyance and assignment is made for and in consideration of the payment of the sum of [AMOUNT] and other good and valuable consideration by the Assignee to the Assignor, receipt whereof is hereby acknowledged by the Assignor, whereof quit. 5. EFFECT ON SALE AGREEMENT 5
