Common use of ACCOUNTS RECEIVABLE PROCESSING Clause in Contracts

ACCOUNTS RECEIVABLE PROCESSING. Accounts receivable records will be maintained on the NMI computer system. NMI will be responsible for all collections of accounts receivable and will remit to bank accounts specified by GALAGEN all customer payments owed to GALAGEN for sales made by GALAGEN hereunder on a weekly basis. All payments will be applied to open customer invoices in accordance with the customer's instructions, and if no such instructions are specified the parties will contact such customer to determine such instructions. NMI will provide to GALAGEN periodically a list of all open customer accounts receivable assigned to GALAGEN.