Aging Clause Samples
The "Aging" clause defines how outstanding amounts owed under a contract are tracked over time, typically by categorizing unpaid invoices based on the length of time they have been outstanding (e.g., 30, 60, or 90 days past due). In practice, this clause may require the parties to maintain records or provide reports showing the age of receivables or payables, helping both sides monitor payment performance and identify overdue accounts. Its core function is to facilitate effective credit management and ensure timely follow-up on unpaid obligations, thereby reducing the risk of bad debts and improving cash flow oversight.
POPULAR SAMPLE Copied 1 times
Aging. Such Purchased Mortgage Loan has not been subject to a Transaction hereunder for more than the applicable Aging Limit.
Aging. For Month#1 and Month#2, obtain the reconciliation of the aging per monthly report to the aged trial balance & the general ledger. Describe the nature of any significant reconciling items. Note the timeliness of completion. Summarize each of the reconciliations and include the details for each significant reconciling item in the report. Include a description of the aging methodology in your report (i.e. DPI). Describe how unapplied amounts and/or partial payments affect an account’s aging status. Select 10 invoices from among the various aging categories at month end Month#2, and: · Determine if the accounts are being properly aged in accordance with the terms and methodology. Note any accounts that may be aged in a non-conforming manner. · Determine whether the terms of payment on the sale receipt would make the sales receipt ineligible for purchase. If so, determine if the company is properly excluding such invoices from sale to the conduits. · Obtain the related documentation pertaining to proof of delivery. Determine that the invoices were issued either coincident with or subsequent to the purchase of goods. · Prepare a listing of the accounts analyzed with an indication of the aging accuracy, the payment terms as stated on the face of the invoice, which entity the invoice relates to, and reason for delinquency, if any. · Verify the originator name listed on each invoice and whether the name matches the name of an Originator listed in the underlying transaction documents and indicate whether the Originator is eligible. Discuss with management the magnitude of accounts/invoices in the aging at the end of Month#2 that have been extended, modified or restructured. Ask management to provide an aging of debit balances only as of a recent month end (i.e. no credits in the aging buckets). Compare debit balance aging totals to the aging on the monthly report. Recalculate the delinquency ratio based on debit balance aging and compare it to the ratio reported on the monthly report.
Aging. Such Purchased Mortgage Loan has not been subject to a Transaction hereunder for more than 180 days.
Aging. No Receivable has been owned by the Issuer for more than 364 days.
Aging. Upon reasonable request by the Required Lenders, the Loan Parties shall deliver a summary aging, by vendor, of each Loan Party’s accounts payable, any book overdraft, and any held checks, in form and substance reasonably satisfactory to the Required Lenders and consistent with the Loan Parties’ historical practices.
Aging. Varig shall perform the Service Bulletin ("SB") ----- tasks, which can be performed on a best effort basis during upcoming checks on all the Aircraft. During the checks on 21005/PP-VMJ and 21003/PP-VMH the Aging work will be terminated on a best effort basis. This may leave an adjustment in favor of PLM, which shall be calculated as per the man-hours listed in Schedule "A" hereto multiplied by a man-hour rate of $45.00. Varig shall provide the required parts/kits for specific SBs, or compensation equaling the current list price from the manufacturer.
Aging. Other than the Receivables sold and contributed by the Receivables Seller on the Closing Date, each Receivable was originated at least 31 days but not more than 60 days prior to the Transfer Date.
Aging. Only updated Weekly, not Daily 10) 0-30 dpi 11) 31-60 dpi 12) 61-90 dpi 13) 91-120 dpi 14) 121-150 dpi 14a) 151+ dpi
Aging. Third Party Credit Card A/R Direct Billing National Tire Account Exchange Card Wholesale/Franchise Access TA Billed Other Income $ — Access TA Unbilled
Aging. Such Purchased Mortgage Loan has not been held by the Custodian on behalf of Buyer (either in its capacity as Buyer hereunder or as a secured lender) for more than 180 days.