Common use of Outstanding Checks Clause in Contracts

Outstanding Checks. Funds shall remain on deposit at the Closing in each checking account maintained by each of the Subsidiaries sufficient in amount to cover all outstanding checks or drafts against such accounts.

Outstanding Checks. Funds shall remain on deposit at the Closing Effective Time in each checking account maintained by the Company and each of the its Subsidiaries sufficient in amount to cover all outstanding checks or drafts drawn against such accounts.