Thursday, May 20, 2021

Domestic agents and domestic merchants

 Domestic agents and domestic merchants 

Domestic Agent means Wells Fargo, acting in the manner and to the extent described in Article X, and any successor domestic agent appointed pursuant to Article X hereof.

On each Domestic Settlement Date, payment shall be made by or to each Lender in the manner provided herein and in accordance with a written report delivered by the Domestic Agent to the Lenders with respect to such Domestic Settlement Date so that, as of each Domestic Settlement Date, each Lender shall hold its Pro Rata Share of all Domestic Syndicated Loans then outstanding. The Domestic Agent shall notify the Lenders of the outstanding balance of Domestic Syndicated Loans prior to 12:00 noon, Charlotte, North Carolina, time, on such funding date. 

If such Lender does not pay such corresponding amount forthwith upon the Domestic Agents demand therefor, the Domestic Agent shall promptly notify the Borrower, and Borrower shall immediately pay such corresponding amount to the Domestic Agent, together with interest at the rate specified for the Borrowing which includes such amount paid.

The New Obligor will, upon the request of the Domestic Agent from time to time, execute, acknowledge and deliver, and file and record, all such instruments, and take all such action, as the Domestic Agent may reasonably request to carry out the intent and purpose of this Agreement and any other Credit Document.

Intermediaries

Intermediaries, also known as distribution intermediaries, marketing intermediaries, or middlemen, are an extremely crucial element of a company’s product distribution channel. Without intermediaries, it would be close to impossible for the business to function at all. This is because intermediares are external groups, individuals, or businesses that make it possible for the company to deliver their products to the end user. For example, merchants are intermediaries that buy and resell products.

There are four generally recognized broad groups of intermediaries: agents, wholesalers, distributors, and retailers.

Agents/Brokers

Agents or brokers are individuals or companies that act as an extension of the manufacturing company. Their main job is to represent the producer to the final user in selling a product. Thus, while they do not own the product directly, they take possession of the product in the distribution process. They make their profits through fees or commissions.

Wholesalers

Unlike agents, wholesalers take title to the goods and services that they are intermediaries for. They are independently owned, and they own the products that they sell. Wholesalers do not work with small numbers of product: they buy in bulk, and store the products in their own warehouses and storage places until it is time to resell them. Wholesalers rarely sell to the final user; rather, they sell the products to other intermediaries such as retailers, for a higher price than they paid. Thus, they do not operate on a commission system, as agents do.

Distributors

Distributors function similarly to wholesalers in that they take ownership of the product, store it, and sell it off at a profit to retailers or other intermediaries. However, the key difference is that distributors ally themselves to complementary products. For example, distributors of Coca Cola will not distribute Pepsi products, and vice versa. In this way, they can maintain a closer relationship with their suppliers than wholesalers do.

Retailers

Retailers come in a variety of shapes and sizes: from the corner grocery store, to large chains like Wal-Mart and Target. Whatever their size, retailers purchase products from market intermediaries and sell them directly to the end user for a profit.

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