Office Depot 2012 Annual Report Download - page 121

As soon as the above mentioned operations are settled ABN AMRO COM gives up to the transfer of the receivables credited to these cashing
accounts.
Pursuant to the terms of a particular functioning agreement to be concluded with each of the aforementioned banks, the Client shall refrain from
operating those cashing accounts in debit or changing the domiciliation of the payments without having obtained ABN AMRO COM FIN’s prior
consent.
Disclosure: The Client shall report on the performance of the mandate, at the first remittance of receivables and at least twice a month, by
communicating to ABN AMRO COM FIN the information set out below in a format agreed by the Parties (ABN AMRO COM FIN shall
therefore supply the Client with a specifications document allowing it to prepare the corresponding files).
ABN AMRO COM FIN shall be entitled to conduct any necessary verification regarding the transferred receivables that could be on its premises
and on detailed documents, after the appointment made with the Client to be decided within 48 (forty-eight) business hours from the request by
ABN AMRO COM FIN, except in case of justified emergency. The Client shall provide all assistance necessary.
Cancellation of the mandate: ABN AMRO COM FIN may revoke the mandate 15 (fifteen) business days after a formal notice sent by registered
letter with acknowledgment of receipt, left unremedied, in the event of:
If the mandate is revoked, ABN AMRO COM FIN shall have to take over collection of the transferred receivables; the Client hereby agrees to do
everything to help inform debtors of the revocation of the mandate and notify new payment account details.
Therefore, in the event of revocation, all invoices issued must strictly include the following text in a prominent position:
To ensure full settlement, payment is to be made to ABN AMRO Commercial Finance and sent to 39, Rue Anatole France 92532 Levallois-Perret
Cedex
Tel: [phone] / Fax: [phone]
B
ank details: Neuflize OBC – 3, Avenue Hoche 75008 PARIS
R
IB: (sent under separate cover)
R
eceivable transferred to ABN AMRO Commercial Finance in accordance with articles L.313-23 to L.313-35 of the French Monetary and
Financial Code
In return of the taking over of the collection by ABN AMRO COM FIN, the factoring fee shall be increased by 0.20%. (zero point two percent)
and this pricing shall apply as of the effective date of mandate revocation and shall be applied to all receivable outstanding at this date.
In the event that ABN AMRO COM FIN receives payments relating to invoices whose title has not been transferred to it, even after termination
of this Agreement, shall be deemed to receive them on behalf of the Client and in the capacity of its agent.
In the event of a serious breach of contract by the Client, defined as any behaviour likely to prevent ABN AMRO COM FIN from benefiting
from its rights according to the present document, ABN AMRO COM FIN shall have the right to revoke the mandate without prior notice.
The Client undertakes not to revoke this power before the final balance of the current account has been established.
The Client grants ABN AMRO COM FIN full powers to endorse all payment title that might be made out to the order of the Client. The Client
undertakes not to revoke such powers for so long as its current account in ABN AMRO COM FIN’s books remains open. The power shall be
used by ABN AMRO COM FIN only in case the mandate is revoked.
In the case of the cancellation of the mandate the client commits to communicate to ABN AMRO COM FIN, at its request, a copy of the bills of
order and deliver
y
within a reasonable time.
- The general ledger with the unmatched invoices of debtors included in the scope of the Agreement; the Client shall maintain the invoices
settled with bills of exchan
g
e
p
a
y
able on a future date in the
g
eneral led
g
er submitted to ABN AMRO COM FIN.
-The u
p
-to-date list of active debtors included in the sco
p
e of the a
pp
lication.
- List of the bad debts accounted over the past fortnight and registered in the “416” account category.
-The u
p
-to-date statement of accruals for
y
ear-end rebates and advertisin
g
costs.
-Si
g
nificant Unfavourable Event;
- dilutions (as defined in Preliminary Title) exceeding 10 % of the nominal amount including VAT of the transferred receivables, the
calculation bein
g
established accordin
g
to a method communicated b
y
ABN AMRO COM FIN and a
pp
ended hereto (A
pp
endix 4);
- arrears above 30 (thirty) days as from the due date exceeding 10% (ten percent) of the outstanding amount of transferred receivables, after
deduction of the unallocated credits, the calculation being established according to a method communicated by ABN AMRO COM FIN and
a
pp
ended hereto (A
pp
endix 4);
- DSO recorded in ABN AMRO COM FIN’s books of more than 75 (seventy-five) days, according to a calculation method communicated
b
y
ABN AMRO COM FIN and a
pp
ended hereto (A
pp
endix 4).