Common use of Collection of Accounts Receivable Clause in Contracts

Collection of Accounts Receivable. With respect to the accounts receivable for the placement of employees, Sellers shall be entitled to all monies owed Sellers, as evidenced by the accounts receivable list at time of Closing covering all work completed through Friday, October 25, 1996, to be followed by a subsequent report covering accounts receivable up to Closing, which shall be due Purchaser by Thursday, November 7, 1996. Purchaser shall be entitled to all monies received from the generation of accounts receivable subsequent to November 3, 1996; and