Uncollectible Accounts Sample Clauses

Uncollectible Accounts. The provision for uncollectible accounts associated with the Accounts Receivable;
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Uncollectible Accounts. A list of all material accounts receivable of the Corporation deemed uncollectible by the Corporation, stating the name and address of the account debtor, the amount unpaid and the reason for uncollectability and the amount, if any, reserved in respect thereof on the Financial Statements for 1996. (Schedule vii)
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Uncollectible Accounts. Uncollectible Accounts" shall mean losses due to credit card chargebacks, bad checks and, other uncollectible debts.
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Uncollectible Accounts. Contractor shall bear no responsibility for bad debts for events that are catered within PCC.
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Uncollectible Accounts. The Sale Price of Licensed Products that are disposed of other than by sale or lease is LICENSEE’s gross invoice selling price for products of similar kind and quality, sold in similar quantities. If LICENSEE is not currently offering comparable products for sale, then the Sale Price is the average gross invoice selling price at which products of similar kind and quality, sold in similar quantities, are currently offered for sale by other manufacturers. If comparable products are not currently sold or offered for sale by others, then the Sale Price will be LICENSEE’s cost of manufacture, determined by LICENSEE’s customary accounting procedures, plus LICENSEE’s standard markup.
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Uncollectible Accounts. Distributor shall manage the invoicing and collection of amounts due Distributor for its Distribution of Products. Distributor shall take such steps as it deems reasonable and appropriate to collect any such amount which is overdue. Distributor shall determine in its sole discretion exercised in good faith (but in any event no later than six (6) months after such amount was due) when an amount may be deemed uncollectible. In the event that all or any portion of an amount deemed uncollectible is later collected, Distributor shall remit such amount in conjunction with the statements and payments to be made pursuant to Paragraph 5.3(a) below.
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Uncollectible Accounts. Purchaser shall use commercially reasonable efforts to collect the trade and other receivables of Seller that are included in the Acquired Assets; provided, however, that Purchaser shall not be required to threaten or institute legal proceedings or to employ a collection agency to collect such receivables. Promptly following the expiration of the six-month period following the Closing Date, Purchaser shall deliver to Seller a written notice setting forth the aggregate amount of such trade and other receivables of Seller, less the recorded allowance for collection losses as of the Closing Date, that were not paid in full prior to the expiration of such six-month period (the "Receivable Amount"), together with an itemized list thereof. Seller agrees to pay the Receivable Amount to Purchaser in cash or immediately available funds within three business days following the delivery by Purchaser of such notice to Seller. If the Receivable Amount is not paid within such three business day period, such amount shall accrue interest at the prime rate per annum (as published on such date by the Wall Street Journal in the "Money Rates" column of such publication), for the period commencing upon the expiration of such three business day period and ending on the date the Receivable Amount, plus accrued interest thereon, is paid. Upon receipt of the Receivable Amount by Purchaser, Purchaser shall assign to Seller the uncollected receivables in respect of which the Receivable Amount was paid and shall provide such records Seller may reasonably request from time to time in connection with its collection of such uncollected receivables. Purchaser and Seller agree that all sums collected by Purchaser from any customer (who is obligated with respect to both Seller's and Purchaser's accounts receivable) after the Closing shall be applied to the specific invoice referenced on such customer's payment or remittance; provided, however, that if no specific invoice is referenced on such payment or remittance and Purchaser cannot otherwise reasonably determine in good faith the intent of such customer, Purchaser shall make a good faith inquiry of such customer who shall instruct Purchaser as to the appropriate invoice relating to such payment or remittance. Neither Purchaser nor Seller shall instruct any customer to pay such party's invoices in lieu of paying the other party's invoices.
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Related to Uncollectible Accounts

  • Eligible Accounts The words “Eligible Accounts” mean at any time, all of Borrower’s Accounts which contain selling terms and conditions acceptable to Lender. The net amount of any Eligible Account against which Borrower may borrow shall exclude all returns, discounts, credits, and offsets of any nature. Unless otherwise agreed to by Lender in writing, Eligible Accounts do not include:

  • Accounts Receivable; Accounts Payable All accounts receivable of Emergent and its Subsidiaries reflected in the Interim Financial Statements and all accounts receivable that are reflected on the books of Emergent and its Subsidiaries as of the Closing Date (net of allowances for doubtful accounts as reflected thereon and as determined in accordance with GAAP) are obligations arising from sales actually made or services actually performed in the Ordinary Course of Business arising in connection with bona fide arm’s length transactions with Persons who are not Affiliates of Emergent or any of its Subsidiaries, constitute valid undisputed claims and are not, by their terms, subject to defenses, set-offs or counterclaims. Neither Emergent nor any of its Subsidiaries has received written notice from or on behalf of any obligor of any such accounts receivable that such obligor is unwilling or unable to pay a material portion of such accounts receivable. All accounts payable and notes payable of Emergent and its Subsidiaries arose in bona fide arm’s length transactions in the Ordinary Course of Business and with Persons who are not Affiliates of Emergent or any of its Subsidiaries, and no such account payable or note payable is materially delinquent in its payment.

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account.

  • Accounts Receivables Each existing Account constitutes, and each hereafter arising Account will, when such Account arises, constitute, the legally valid and binding obligation of the Account Debtor, except where the failure to do so could not reasonably be expected, individually or in the aggregate, to materially adversely affect the value or collectability of the Accounts included in the Collateral, taken as a whole. No Account Debtor has any defense, set-off, claim or counterclaim against any Grantor that can be asserted against the Administrative Agent, whether in any proceeding to enforce the Administrative Agent’s rights in the Accounts included in the Collateral, or otherwise, except for defenses, setoffs, claims or counterclaims that could not reasonably be expected, individually or in the aggregate, to materially adversely affect the value or collectability of the Accounts included in the Collateral, taken as a whole. None of the Grantors’ accounts receivables are, nor will any hereafter arising account receivable be, evidenced by a promissory note or other Instrument (other than a check) that has not been pledged to the Administrative Agent in accordance with the terms hereof.

  • Accounts Receivable All accounts receivable of the Acquired Companies that are reflected on the Balance Sheet or the Interim Balance Sheet or on the accounting records of the Acquired Companies as of the Closing Date (collectively, the "Accounts Receivable") represent or will represent valid obligations arising from sales actually made or services actually performed in the Ordinary Course of Business. Unless paid prior to the Closing Date, the Accounts Receivable are or will be as of the Closing Date current and collectible net of the respective reserves shown on the Balance Sheet or the Interim Balance Sheet or on the accounting records of the Acquired Companies as of the Closing Date (which reserves are adequate and calculated consistent with past practice and, in the case of the reserve as of the Closing Date, will not represent a greater percentage of the Accounts Receivable as of the Closing Date than the reserve reflected in the Interim Balance Sheet represented of the Accounts Receivable reflected therein and will not represent a material adverse change in the composition of such Accounts Receivable in terms of aging). Subject to such reserves, each of the Accounts Receivable either has been or will be collected in full, without any set-off, within ninety days after the day on which it first becomes due and payable. There is no contest, claim, or right of set-off, other than returns in the Ordinary Course of Business, under any Contract with any obligor of an Accounts Receivable relating to the amount or validity of such Accounts Receivable. Part 3.8 of the Disclosure Letter contains a complete and accurate list of all Accounts Receivable as of the date of the Interim Balance Sheet, which list sets forth the aging of such Accounts Receivable.

  • Delinquent Accounts Collections: In the event GROUP’s account becomes delinquent, SHOP shall undertake collections per State Accounting Manual (XXX) Section 8776.6 (non-employee accounts receivable).

  • Collection of Accounts Receivable (a) At the Closing, Sellers' Agents shall designate Purchaser as its agent solely for the purposes of collecting the MMP Accounts Receivable. Purchaser will collect the MMP Accounts Receivable during the period beginning on the Closing Date and ending on the 180th day after the Closing Date (the "Collection Period") with the same care and diligence Purchaser uses with respect to its own accounts receivable and hold all such MMP Accounts Receivable in trust for Sellers until remitted by Purchaser to the Indemnification Escrow Agent or the Collections Account pursuant hereto. Purchaser shall not make any referral or compromise of any of the MMP Accounts Receivable to a collection agency or attorney for collection and shall not settle or adjust the amount of any of the MMP Accounts Receivable without the written approval of Sellers' Agent. If, during the Collection Period, Purchaser receives monies from an account debtor of Purchaser that is also an account debtor of MMP with respect to any MMP Accounts Receivable, Purchaser shall credit the sums received to the oldest account due, except where an account is disputed by the account debtor as properly due, and the account debtor has so notified Purchaser in writing, in which case, payments received shall be applied in accordance with the account debtor's instructions; provided that upon resolution of such dispute if any amounts in dispute are received by Purchaser, Purchaser shall remit such amounts to the Indemnification Escrow Agent in accordance with the Indemnification Escrow Agreement up to the amount of the Additional Indemnification Amount Deposit and, thereafter, to the Collections Account.

  • Accounts Receivable and Accounts Payable 7 (a) General.....................................................7 (b)

  • Business Accounts If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to: • enter into this Agreement, as amended from time to time; • access each account of yours in any manner and for any purpose available through the Service, whether now available or available at some time in the future; and • use any Online banking service in any manner and for any purpose available through the Service, whether now available or available at some time in the future.

  • Bona Fide Eligible Accounts The Eligible Accounts are bona fide existing obligations. The property and services giving rise to such Eligible Accounts has been delivered or rendered to the account debtor or to the account debtor’s agent for immediate and unconditional acceptance by the account debtor. Borrower has not received notice of actual or imminent Insolvency Proceeding of any account debtor that is included in any Borrowing Base Certificate as an Eligible Account.

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