Receivables arise when a company uses its investment as collateral for a loan, usually a line of credit. When receivables are used in this way, the lender generally limits the amount of the loan to either: under a pawning contract, the company reserves ownership of the receivables and is responsible for them, not the lender. Although the lender now has a legal interest in the receivables, there is no need to inform customers of this interest. A percentage of receivables that decreases on the basis of the age of the receivables. 8.10. Advantage of the agreement. The terms and conditions of the security agreement are binding and favourable to the beneficiaries, the administrative officer and the insured parties, as well as their respective beneficiaries and beneficiaries (including all persons bound as debtors of this security agreement), except that the beneficiaries do not have the right to transfer their rights or delegate their obligations under this guarantee agreement or any interest agreement. , without the prior written permission of the administrative officer. No sale of interests, assignments, divestitures or other orders of an agreement relating to guaranteed commitments or parties to those commitments or interests may in any way affect the Link granted to the administrative officer in favour of the administrative officer and other insured parties. 7.1. Lock-box. At the request of the administrative officer after the occurrence and during the continuation of a late or accelerating payment event, each grantor executes irrevocable locking agreements, in the form provided by the administrative officer or by some other acceptable means, accompanied by confirmation by the bank in which the Imobus safe is blocked and irrevocable instructions of wiring. be confiscated from a special security account with the administrative officer.
[Add a description of securities accounts or agreements with securities intermediaries, if applicable] The latter option is safer from the lender`s point of view (and is therefore more used) because it allows to identify more precisely the claims least likely to be recovered.