Accounts Payable and Receivable. All accounts payable and expenses related to operations of the Property which have accrued before the Closing Date shall, except as otherwise expressly provided herein, be paid by Seller on or before the Closing Date or credited to Buyer in escrow, and all accounts payable and expenses arising after the Closing Date which are incurred by or at the direction of Buyer outside of this Agreement will be Buyer's sole responsibility. Buyer shall not acquire accounts receivable from Seller, and there shall be no adjustments or prorations therefor; provided, however, that Buyer shall use reasonable efforts (excluding litigation and other collection procedures) for a period of six months after the Closing Date to collect on behalf of Seller all accounts receivable outstanding as of Closing. Buyer shall remit all amounts collected therefor to 3102/001/106725 Seller upon Buyer's receipt of same. Buyer shall also remit to Seller, upon Buyer's receipt of the same, all other amounts received by Buyer in payment of Seller's accounts receivable, at any time thereafter. For the period from the Closing Date to six months thereafter, Seller shall have the right, but not the obligation, to institute a lawsuit or other collection procedure or action to collect any past due rents or other amounts due under the Tenant Leases prior to Closing. Any past due rents or other amounts due under the Tenant Leases prior to Closing paid directly to Seller specifically in settlement of such amounts shall be retained by Seller. Any rents collected from former tenants whose lease was terminated prior to Closing shall be Seller's property.
Accounts Payable and Receivable. The Company and, prior to the Spin-Off Matrix, shall, and shall cause their respective Subsidiaries to, process and pay all of their respective accounts payable and process and collect all of their respective accounts receivable, in each case, in the ordinary course of business consistent with the applicable payment terms, including with respect to applicable payment terms for each particular vendor and customer, and including as to the timing of payment or collection (in each case solely with respect to the SpinCo Business, the SpinCo Assets and the SpinCo Liabilities).
Accounts Payable and Receivable. 4.1. Responsible for completion of, end to end- single point of contact, daily processing of accounts receivable requests and tasks including invoicing and credit control for delegated cost centres and projects.
Accounts Payable and Receivable. A true, accurate, and complete statement of the accounts payable and receivable of the Company as of November 30, 2007 is as set forth on Schedule 3.30 hereto. There has been no material change in the balance of accounts payable and accounts receivable since that date other than changes consistent with past practices of the Company in the ordinary course of business. All accounts payable and receivable are valid obligations arising from sales actually made or services actually performed by the Company in the ordinary course of business. All accounts receivable are collectible in the ordinary course of business.
Accounts Payable and Receivable. All accounts payable or receivable of the Business existing as of the Closing Date or relating to any periods prior to the Closing Date shall remain the accounts payable or receivable of SELLER.
Accounts Payable and Receivable. None of the Corporations has any accounts payable or receivable, book debts or other debts owing by it or due or accruing to it.
Accounts Payable and Receivable. Set forth on Schedule 4.1(S) under the sub-heading “Payables” is a true and accurate list of all payables owed by the Seller as of June 19, 2020 (the “Payables”), excluding the Excluded Payables. Set forth on Schedule 4.1(S) under the sub-heading “Receivables” is a true and accurate list of all receivables owing to the Seller as of June 19, 2020 (other than the Negative Customer Receivables and the Subsidiary Receivables), (the “Receivables”). All of the Receivables arose from bona fide transactions entered into in the Ordinary Course of Business and, to Seller’s knowledge, there exists no fact or circumstance that would reasonably be expected to result in the Receivables not being collected in full when due, without any counterclaim or set off. Any payables owed by the Seller that are not included on the list of Payables are considered to be Excluded Liabilities retained by the Seller.
Accounts Payable and Receivable. The DDA shall be responsible for all materials, supplies, and services rendered that were ordered or contracted for or by DDA for the performance of any service, duty, responsibility or obligation to be provided herein by DDA.
Accounts Payable and Receivable. All of the accounts receivable and accounts payable of the Company reflected in the Financial Statements are bona fide and represent accounts receivable and accounts payable, as applicable, validly due for goods sold or services rendered. Except as set forth on Schedule 3.27, to the Knowledge of the Company, such accounts receivable and accounts payable, taken as a whole, are collectible or payable in all material respects in the ordinary course of business at the aggregate recorded amounts thereof, net of any applicable allowances for doubtful accounts reflected on the Financial Statements. All accounts receivable and accounts payable have been recorded and paid or collected, as applicable, in the ordinary course of business and consistent with past practice up to and including the date of this Agreement, without any material variance in the payment or collection thereof.
Accounts Payable and Receivable. (a) From and after the Closing, (i) if the Company Group receives any payment, refund or other amount that is properly due and owing in respect of the Seller Business, the Company Group promptly shall remit, or shall cause to be remitted, such amount to Seller or its designee and (ii) if the Seller Group receives any payment, refund or other amount that is properly due and owing to the Business, the Seller Group promptly shall remit, or shall cause to be remitted, such amount to Buyer or its designee.
