Repurchase of Accounts Receivable. Within 10 days following the expiration of the Collection Period, Buyer shall deliver to Seller one or more statements setting forth a list of Closing Date Receivables (which has clearly identified thereon the names of the customers, invoice numbers and uncollected amounts by invoice, together with copies of all invoices and, if required, supporting documentation) that were not collected during the Collection Period and the total of such uncollected amounts. Such statement shall not include the amount of any balances owed on notes or accounts receivable that have been paid down in accordance with their terms but the statement shall reflect as a deduction from total uncollected amounts shown thereon (i) the total amount of any credit balances included in the Closing Date Receivables not applied against invoices for the same customer included in the Closing Date Receivables and (ii) the amount of the reserve for bad debts determined as of the Closing Date. The net amount set forth on the statement remaining, after giving effect to the exclusions, if any, and deductions set forth in the preceding sentence, shall be the net amount of receivables to be repurchased by the Seller (the "Uncollected Receivables"); provided that, with respect to those Closing Date Receivables that Buyer made a good faith effort to collect but were not collected because Buyer reasonably concluded that the customer may have a bona fide claim with respect thereto (the "Contested Receivables"), Buyer shall have the option to sell such Closing Date Receivable to Seller for 75% of the amount thereof, provided that Seller shall immediately cancel and not at any time make any efforts to collect such Closing Date Receivable. Within ten (10) business days following Seller's receipt of such statement, Seller shall pay to Buyer, by wire transfer of immediately available funds, to the account specified in writing by Buyer to Seller, the amount of the Uncollected Receivables. Upon receipt of such payment, Buyer shall assign to Seller, without recourse to the Buyer and subject to the second previous sentence, the claims included in the Uncollected Receivables, including any lien or other rights related thereto.
Repurchase of Accounts Receivable. After the Closing, Buyers agree to use their normal and customary collection procedures (excluding institution of litigation) as in effect on the Closing Date, to collect the accounts receivable of Sellers existing on the Closing Date and reflected on the Closing Balance Sheet (the "Transferred Receivables"). In the event any Transferred Receivables remain uncollected in whole or in part, above the amount reserved for on the Closing Balance Sheet, on the later of one hundred fifty calendar (150) days after (i) the Closing; or (ii) after the time which such Transferred Receivable was due and payable according to its terms, Sellers shall repurchase from Buyers such uncollected Transferred Receivables at a purchase price equal to ninety percent (90%) of the difference between (x) the aggregate uncollected face amount of the Transferred Receivables, minus (y) the reserve for uncollectible receivables on the Closing Balance Sheet.
Repurchase of Accounts Receivable. Promptly following the --------------------------------- expiration of the Collection Period, Intermec shall deliver to Amtech a statement setting forth (i) a list and description of the Transfer Date Receivables that were not collected during the Collection Period (the "Uncollected Receivables"), and (ii) a schedule setting forth the calculation of the aggregate amount of Uncollected Receivables less the reserve provided for Uncollected Receivables on the Final Closing Balance Sheet plus interest on such net amount from the Closing Date to the date of payment to Intermec at the Purchase Price Adjustment Interest Rate. Within 10 business days following Amtech's receipt of such statement, Amtech shall pay to Intermec, by wire transfer of immediately available funds, the amount of such statement, including applicable interest, and upon receipt of such payment, Intermec and French Subsidiary shall (and shall cause the relevant members of TSG to) assign without recourse the Uncollected Receivables to Amtech. Following such assignment, (i) Intermec and French Subsidiary shall (and shall cause the relevant members of TSG to) remit to Amtech any payments it shall receive on such Uncollected Receivables, and (ii) Amtech shall consult with Intermec prior to instituting any legal proceedings or taking any other extraordinary measures to collect the Uncollected Receivables, and if requested by Intermec, shall refrain from instituting such legal proceedings or taking such other extraordinary measures if Intermec, French Subsidiary or the relevant member of TSG retains or repurchases the Uncollected Receivable in question.
Repurchase of Accounts Receivable. (a) For the period commencing on the Closing Date and ending on November 30, 1997 (the "Collection Period"), the Buyer shall use its reasonable efforts to collect the Accounts Receivable. The Buyer may, but shall not be obligated to, use a collection agency or commence legal actions in connection with such collection efforts. Promptly after the expiration of the Collection Period, the Buyer shall give notice to the Seller designating those Accounts Receivable in excess of $2,500 which have not been collected as of the end of the Collection Period and which the Buyer wishes the Seller to purchase. Within ten days after receipt of such notice from the Buyer, the Seller shall purchase (without recourse to the Buyer) such designated Accounts Receivable then remaining unpaid for a purchase price equal to the face amount thereof.
Repurchase of Accounts Receivable a. Pursuant to Section 3.10 of the Purchase Agreement, Buyer has certain rights to require XLSource to repurchase the Receivables, including the PBTH Receivables, purchased by GE Acquisition that remain uncollected on a date 120 days following the Closing Date. In the event that any of the PBTH Receivables are required by GE Acquisition so to be repurchased, XLConnect agrees, within two business days of notice from XLSource, to repurchase such receivables from XLSource for a purchase price equal to the purchase price paid by XLSource to GE Acquisition.
Repurchase of Accounts Receivable. 14 (c) REMEDY FOR UNCOLLECTED RECEIVABLES................. 14
Repurchase of Accounts Receivable. Any Guaranteed Accounts Receivable which are not collected in full two hundred seventy (270) days (or one (1) year in the case of the Red Hill Receivable) from the Closing Date shall immediately be repurchased from Buyer by Seller for an amount equal to the aggregate outstanding balance of such receivables (i.e., discounted for any Accounts Receivable Allowances). The outstanding aggregate balance of any such Accounts Receivable on such date shall hereinafter be referred to as the "Remaining Balance" of such Accounts Receivable. The procedure for such repurchase is set forth in Section 8.8 below. Any payments received by Buyer thereafter from a customer relating to a transferred account shall be transferred to Seller.
Repurchase of Accounts Receivable. If an account receivable that was included in the Transferred Assets is not paid in full within ninety (90) days after the Effective Date, then upon the written request of the Company the Transferor that transferred such account receivable to the Company shall within thirty (30) days after such written report repurchase such account receivable from the Company for cash in an amount equal to the unpaid balance of such account receivable. With respect to any account receivable of Transferor that is not paid in full within ninety (90) days after the Effective Date, upon the written request of the Company, such Transferor shall repurchase such account receivable from the Company for cash in an amount equal to the unpaid balance of such account receivable.
Repurchase of Accounts Receivable. After the Closing Date, Buyer shall provide Shareholder with written notice in the event that certain of the accounts and notes receivable of the Company as of the Closing Date are not collected in full within ninety (90) days after the Closing Date, less any allowance for doubtful accounts reflected in the Interim Financial Statements. Shareholder shall thereafter have ninety (90) days from the date of such notification to collect in full on behalf of the Company all such outstanding accounts and notes receivable; and to the extent that any such accounts and notes receivable remain outstanding (less the allowance for doubtful accounts reflected in the Interim Financial Statements), Shareholder shall, within ten (10) days thereafter, purchase from the Company, for cash, the face value of all such outstanding accounts and notes receivable.
Repurchase of Accounts Receivable. 1. If the following circumstances are discovered regarding accounts receivable that a Credit Card Company has received assignment of from Applicant pursuant to a Merchant Agreement or the Agreement, the Credit Card Company may demand the repurchase of receivables without conditions, and Applicant and DEGICA agree that the receivables will be deemed to have been automatically repurchased when there has been such a demand. 1 If receivables are found to be based on sales data that was produced using procedures that breach the provisions of a Merchant Agreement or the Agreement; 2 If sales data was not legitimate, or the content of sales data was untrue or incomplete;
