Account Receivables. (a) Seller will retain and be responsible for collecting on all account receivables for products delivered and services provided to customers prior to and at Closing (“Retained A/R”). Purchaser will purchase and be responsible for collecting on all account receivables for products delivered and services provided to customers after Closing.
Account Receivables. No amount exceeding $50,000 and payable to such Grantor under or in connection with any account is evidenced by any instrument, promissory note, chattel paper, and no account exceeding $50,000 has been settled by the account debtor granting to such Grantor Pledged Stock which has not been delivered to the Purchaser.
Account Receivables. The Company shall, and shall cause its Subsidiaries to, use commercially reasonable efforts in accordance with past practice to collect all accounts receivable of the Business and the VAB Business.
Account Receivables. (a) Parent hereby acknowledges and agrees that, immediately prior to the Closing, the Company distributed to Shareholder all Company account receivables then outstanding, which account receivables are identified (by name, invoice number and amount) in Schedule 7.7 of the Company Disclosure Statement (the "Pre-Closing A/R's"). The parties hereto acknowledge and agree that the Pre-Closing A/R's do not include account receivables from Macmillan pertaining to Macmillan's holdback for potential products return, which amount to $116,126 in the aggregate as of the date hereof (the "Macmillan Holdback Receivables"). The Macmillan Holdback Receivables shall remain as assets of the Company. Following the Closing, Surviving Corporation shall collect the Pre-Closing A/R's on Shareholder's behalf and, in doing so, Surviving Corporation shall, and Parent shall cause Surviving Corporation to, use the same diligence in attempting to collect the Pre-Closing A/R's as the Surviving Corporation uses in attempting to collect account receivables arising after the Closing. At such point as the Surviving Corporation receives payment for a Pre-Closing A/R, Surviving Corporation shall, and Parent shall cause Surviving Corporation to, pay such collected amounts to the Shareholder within 15 days after the month in which the amount is collected.
Account Receivables. (i) get in and realize all account receivables, book, other debts and sums of money owing to the Chargor charged pursuant to Section 2 in the ordinary course of its business;
Account Receivables. The accounts receivable, notes receivable, other receivables and rights to xxxx and receive payment for products shipped or delivered by the Business and/or services performed by the Business but unbilled or unpaid as of the Closing to be identified on Schedule 1.1(e) to be delivered by Seller to Purchaser at the Closing (but expressly excluding the right to receive payment of royalties arising under Seller Contracts, which right to receive royalties is retained by Seller) (the “Transferred Receivables”).
Account Receivables. Borrower shall provide to Lender semi-annual aging report of consolidated accounts receivable and a listing of government and foreign accounts receivable that represent more than fifteen percent (15%) of total consolidated accounts receivable. The Lender may, from time to time and in its sole discretion, require Borrower to provide more frequent reporting. (ix)
Account Receivables. (a) The Company and/or Sheinwald shall promptly endorse all checks received by the Company for any payment made in connection with an Acquired Asset, including, without limitation, account receivables, to the order of the Buyer, or as otherwise directed by the Buyer in writing. The Company shall give an officer of the Buyer or Parent power of attorney to endorse such checks promptly upon request of the Buyer.
Account Receivables. The Seller agrees that at the end of each fiscal quarter following the Closing Date, the Seller will determine the aggregate amount of all payments received in respect of billed but uncollected receivables of the Business and will notify the Purchaser of such amount, by means of an invoice within five (5) Business Days of the end of such fiscal quarter. Such amounts shall be treated as a Cash Payment and the Purchaser shall enter such Cash Payment as a credit payable to the Purchaser in the Ledger. The Seller agrees to notify customers of changes to remittance instructions as promptly as practicable following the Closing.
Account Receivables. Seller will retain and be responsible for collecting on all account receivables for services supplied prior to Completion Date (“Retained A/R”). Purchaser will purchase and be responsible for collecting on all account receivables arising from or relating to the period after Completion Date. As of the Completion Date, subject to the terms of Section 3, the Purchaser shall retain all revenues (and profits) and bear all costs and liabilities relating to the operation of the Transferred Assets.
