Trade Creditors. To trade creditors, including Members who are trade creditors, to the extent otherwise permitted by Applicable Law, in satisfaction of amounts due and owing in respect of the Company’s ordinary course trade payables. Any reserves set up by the Liquidator may be paid over by the Liquidator to an escrow agent or trustee, to be held in escrow or trust for the purpose of paying any such contingent or unforeseen liabilities or obligations, and, at the expiration of such period as the Liquidator may deem advisable, such reserves shall be distributed to the Members or their assigns in the manner set forth in this Section 13.3(d).
Trade Creditors. The Company shall have restructured at least Seven Hundred Thousand and No/100 ($700,000.00) of past due trade accounts payable owing by the Company to its trade creditors, in accordance with the following terms and conditions:
Trade Creditors. Pursuant to an Acceptable Plan of Reorganization, the Peregrine Parties may propose to repay trade creditors on a deferred basis, including without limitation on a basis similar or identical to the basis of repayment of the Notes. Without limitation, the Peregrine Parties may secure any obligations to such trade creditors with a lien junior to that of Purchasers on intercreditor subordination terms reasonably acceptable to Purchasers as determined by the Bankruptcy Court in the event of any disagreement as to the reasonableness thereof
Trade Creditors. Trade creditors and accruals are recognised at their nominal amounts, be- ing the amounts at which the liabilities will be settled . Accounting standards require that an item be recognized as a liability when “it is probable that …. future economic benefit associated with the item will flow ….. from the entity” [AIFRS Framework Paragraph 83]. Further, the Commonwealth Finance Ministers Orders, “REQUIREMENTS AND GUIDANCE FOR THE REPARATION OF FINANCIAL STATEMENTS OF AUSTRALIAN GOVERNMENT ENTITIES”, [2006] is instructive in determining what liabilities are to be brought to account for the purposes of Commonwealth grant funds:- “While most obligations are contractual, others are equitable or constructive . An equitable obligation is governed by social or moral sanctions or custom rather than legal sanctions . A constructive obligation is created, inferred or construed from the facts in a particular situation rather than contracted by agreement or imposed by government”. [FMO Paragraph 4B.1.2] Liabilities have been raised in accordance with these Standards .
Trade Creditors. Each Obligor shall pay all amounts owing to trade creditors when due in the ordinary course of business, consistent with good industry practices, or within such period as may be agreed to or acquiesced to by any trade creditors, except for any amounts which are being actively and diligently contested in good faith and for which adequate reserves have been made.
Trade Creditors. A list of all trade creditors of the Target who are owed amounts, which are outstanding as at 30 April 2013 is attached to the Disclosure Letter.
Trade Creditors. The Franchisee must pay the Franchisee’s trade creditors from time to time strictly in accordance with the supplier’s applicable terms of trade.
Trade Creditors. A list of all creditors of the Target who are owed amounts which are outstanding as at the date being 5 Business Days prior to the date of this agreement is attached to the Disclosure Letter.
Trade Creditors. A list of all trade creditors of the Target which are outstanding as at one Business Day prior to the date of this agreement is contained on the Data Site.
Trade Creditors. All Trade Creditors of the Group Companies as at the Completion Date shall be included.
