![]() ![]() Upon full repayment of the Loan, Lender shall return to Borrower, within ten (10) business days, all material documents including the Media Credit as described in the Collateral Assignment of Media Credit and the Prepaid Purchase Order.ĭisagreements over filtering or categorisation of papers were highlighted as “unsure” papers. To secure the payment to Lender of the interest and principal on the Loan, Borrower hereby grants to Lender and Lender hereby accepts, the media credit as described in the Collateral Assignment of Media Credit and the Prepaid Purchase Order, attached together hereto as Exhibit "B" and incorporated herein by this reference. ![]() Pre-paid Purchase Order – An executed purchase order for which the goods and/or services must be paid for prior to delivery.ĭelivery of the Prepaid Purchase Order representing the Collateral pursuant to the Escrow Agreement will convey to Lender and to the Escrow Agent good and valid title to such Credit, free and clear of any Liens, and will entitle Lender to all the rights of a holder of such Credit, subject in each case to the restrictions and obligations set forth in the Media Purchase Agreement between Borrower and Proxhill Marketing Ltd.īorrower shall deposit with Lender the Prepaid Purchase Order for Media Credit upon the closing of this Agreement, the title to which shall be transferred to Lender upon default of the terms of the Notes in accordance with the Collateral Assignment of Media Credits as set forth above.Īs used in this Note, the term "Collateral" shall mean the Prepaid Purchase Order representing the media credit owned by Maker as shall be conveyed upon default of this Note by the Collateral Assignment of Media Credit as set forth on Exhibit "B" annexed to the Loan Agreement and hereby incorporated herein by reference. Examples of Prepaid Purchase Order in a sentence
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