Agreement of Absolute Transfer and Assignment of Accounts Receivable Template

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Agreement of Absolute Transfer and Assignment of Accounts Receivable

This Agreement of Absolute Transfer and Assignment of Accounts Receivable is duly effective on [EFFECTIVE DATE].

BETWEEN:

[COMPANY NAME], a [DETAILS] company that is responsible for [DETAIL 1]. It is a company organized under the [STATE]. The headquarters is located at [COMPANY ADDRESS].

AND:

[NAME], a [DETAIL 2] company that is responsible for [DETAIL 3]. It is a company organized under the laws of the [STATE 1]. The headquarters is located at [ADDRESS].

Both parties hereby agree as follows:

[DETAIL 4]

PREAMBLE

On [DATE 1], an asset purchase agreement was made, [NAME] to sell specific [DETAIL 5] to [NAME 1]. This will be amounting to [NUMBER] and on the terms and conditions. These terms and conditions are listed clearly in this Agreement, [NAME] in transferring out all equipment, including all of the [DETAIL 6] authorized by [NAME]. Certain payments thereunder will be facilitated by [COMPANY NAME 1], hence all monetary expenses amounting to [NUMBER 1] will be delivered to [COMPANY NAME 2]. Any agreement describing the performance by [DETAIL 7] will be monitored under by the law of [STATE] thereunder.

For valuable consideration, the receipt of which is hereby acknowledged by [NAME] will be moved to [NAME 1]. This is the accounts receivable listed in [DETAIL 8]. The transferee may collect with the assigned accounts or any part thereof in such manner. It is highly advisable to take action to such commitment hereto. Without notice to the undersigned, there is a possible charge on its own behalf and further pay in reasonable sums. Notice of this agreement shall be e-mailed by [NAME 1] towards each leaseholder with a [DETAIL 9]. The right of the Transferor as well as the title, and interest in and to essentially will hereby subject for [DETAIL 10].

Pursuant to this Agreement, [NAME], agreed to [DETAIL 11], to [NAME 1]. As discussed and
further defined in this Agreement for Absolute Transfer.

THE AGREEMENT WITNESSETH

The payment receipt whereof is hereby agreed by [NAME], hence,
there will be transferring, assigning, and making over of [DETAIL 12] to [NAME 1]. The transferee should be present upon accepting the same and all of the [NAME]’s right and interest in the Accounts Receivable. With respect to the purchased [DETAIL 12] and rules shall be imposed. All deeds, documents, and other [DETAIL 13] relating to this Agreement are hereby acknowledged in forming [DETAIL 14] for [NAME 1]. The Agreement may allow
extensions of time and other related elements and furthermore take compositions and releases and otherwise deal with the terms and conditions of this Agreement to which a part thereof shall not be exempted to any necessary compositions hereof.

[INSERT NAME OF TRANSFEROR] and [INSERT NAME OF TRANSFEREE] are made subject to the said terms and conditions of which are vital.

All [DETAIL 15] collected by [NAME] in respect of the Accounts Receivable shall be obtained as a trust for [NAME 1]. Furthermore, it shall be paid and assigned to the Transferee hereto.

The Transferor shall select and submit to the Transferee all essential information requested. This information should be related to the Accounts Receivable and [NAME]. There will be major checking of proceedings necessary for both Transferor and Transferee.

[NAME] shall make and perform all financing statements on [NAME 1]’s favor. There will be assignments, documents, and other essential things required by [NAME1].

[NAME] hereby constitutes [NAME 1] the legal council that authorizes the Transferee all the substitution and execute all statements and documents with the right to use the name of the Transferor. This is applicable whenever it is deemed needed.

The provision hereof shall go to [NAME 1]’s successors and assignees. This shall be binding upon the assignees of [NAME].

[NAME 2]
[POSITION]

[DATE 2]

Agreement of Absolute Transfer and Assignment of Accounts Receivable