Purchased Accounts. During the Initial Term, if this Agreement is terminated due to a material breach by Elan, Elan shall continue to pay Additional Income on Purchased Accounts until such time as the Initial Term would have ended had the material breach by Elan not occurred.
Purchased Accounts. Accounts purchased hereunder which have not been Repurchased.
Purchased Accounts. Purchased Accounts" means the Accounts to be purchased herein whose outstanding balances (excluding accrued and unpaid interest), as of the Effective Time shall aggregate no more than $8,200,000 but no less than $7,400,000, and in any event not less than the average balance of the Purchased Accounts over the ten day period prior to the Closing Date, unless the Buyer agrees to accept a total outstanding balance greater or lesser than the stated amounts. There shall be excluded from the Purchased Accounts any deposits which are not consistent with the Seller's now current practices unless Buyer consents to their inclusion.
Purchased Accounts. The Purchased Accounts of Seller are insured by FDIC to the fullest extent permitted by federal law and no action is pending or has been threatened by FDIC against Seller with respect to the termination of such insurance. The Purchased Accounts (i) are in all respects genuine and enforceable obligations of Seller and have been acquired and maintained in full compliance with all applicable Laws, including (but not limited to) the Truth in Savings Act and regulations promulgated thereunder; (ii) were acquired in the ordinary course of Seller's business and without the services of a deposit broker, and (iii) are not subject to any Claims with respect to such Accounts that are superior to the rights of Persons shown on the records delivered to Buyer indicating the owners of the Accounts, other than claims against such Account owners, such as state and federal tax liens and claims for money judgments, which may mature into claims against the respective Accounts. All Share Loans are fully secured by a like amount on deposit in an Account, even if the Share Loan is delinquent.
Purchased Accounts. (i) All of the Purchased Accounts were validly and lawfully established, and remain currently open and eligible for charging.
Purchased Accounts. Upon receipt of any Assignment with the ------------------ aforementioned accompanying documents, Factor, at Factor's sole discretion, shall determine which, if any, of the Eligible Accounts Factor wishes to purchase (the "Purchased Accounts"). Upon Factor's determination that it shall obtain title to the Purchased Accounts free and clear of all liens, encumbrances and conflicting claims, Factor shall pay Company, by bank check or wire transfer, the "Purchase Price" (as defined below in Section 4.1.2) for the Purchased Account(s) in accordance with Section 4 hereof.
Purchased Accounts. The Purchased Accounts are and will remain:
Purchased Accounts. Lovelace shall sell, assign and transfer to Heritage, and Heritagx xxxxx purchase and accept from Lovelace, Lovelace's right, title and interest in and to all assexx xxxx or xxxxxx xx the operation of Lovelace's home healthcare business, including, but not limited tx xxx xxxxowing ("Assets"):
Purchased Accounts. (a) Borrower represents and warrants that it has heretofore delivered to Agent, or made available to Agent for review, true and correct copies of all of its Factoring Documentation and all of such Factoring Documentation is in full force and effect on the date hereof. Borrower further represents and warrants that it has filed appropriate financing statements in all appropriate jurisdictions with respect to Purchased Accounts against all Sellers and that Borrower has a first priority lien on all Purchased Accounts existing on the date hereof.
Purchased Accounts. If any Purchased Account shall remain unpaid after ninety (90) days from the date of Seller's original invoice evidencing same, or if Purchaser shall otherwise deem itself insecure for any reason whatsoever, or if any Account Debtor shall become bankrupt, insolvent or the subject of a reorganization, or makes an assignment for the benefit of creditors, then or any time thereafter, Purchaser, upon notice to Seller, may require Seller to repurchase within five (5) days thereafter, such Purchased Account(s) in which event Seller shall pay to Purchaser an amount equal to the uncollected balance of such Purchased Account plus Purchaser's costs relating to the collection of such Purchased Account plus all other Charges and amounts owed to Purchaser hereunder with respect thereto. Seller's obligations hereunder shall not be affected by Purchaser's actions or inaction with respect to such Accounts.
