Current Receivable definition
Examples of Current Receivable in a sentence
The Owner shall cause all sums hereafter received or recovered by or for it in respect of any Current Receivable to be directly credited to a separate and distinct account as the Collateral Agent may from time to time designate and, if called upon to do so by notice in writing from the Collateral Agent, shall execute an absolute assignment of any such Current Receivable in favor of the Collateral Agent, all at the cost of the Owner.
The Owner shall cause all sums hereafter received or recovered by or for it in respect of any Current Receivable to be directly credited to a separate and distinct account as the Indenture Trustee may from time to time designate and, if called upon to do so by notice in writing from the Indenture Trustee, shall execute an absolute assignment of any such Current Receivable in favor of the Indenture Trustee, all at the cost of the Owner.
The Purchaser acknowledges and agrees that it is not entitled to the Collection Fee for any Retained Current Receivable collected by the Seller nor for any uncollected Retained Current Receivable.
Purchaser acknowledges and agrees that it is responsible for paying Seller's payroll in the amount of $113,950 for the two weeks ended September 19, 1997.
Any amounts received after the Closing by the Seller from an account debtor in respect of a Current Receivable shall be remitted promptly to the Purchaser.
In order to confirm whether the Minimum Stockholders' Equity has been met and the amount of the Net Current Receivable Assets, not later than 30 days following the Closing Balance Sheet Date, Seller, in cooperation with The Source, shall prepare the Closing Balance Sheet and the related statements of income for the period from May 31, 1996 to the Closing Balance Sheet Date in accordance with generally accepted accounting principles, consistently applied.
In the event that the Purchaser requests that the Seller consent to a settlement, modification or compromise of an Assigned Current Receivable, the Seller agrees to respond to such request within five (5) Business Days after such request is received by the Seller.
In the event that the Purchaser requests that the Seller consent to a settlement, modification or compromise of a Retained Current Receivable, the Seller agrees to respond to such request within five (5) Business Days after such request is received by the Seller.
UPass Partner Reimbursement Due Current Receivable Credit Impact to 2012/13 Revenue Dalhousie $331,397 $331,397 $0.00 NSCAD $2,486 $2,486 $0.00 NSCC $107,030 $107,030 $0.00 MSVU $24 $24 $0.00 SMU $66,035 $66,035 $23,240 The amount of $23,240 will negatively impact 2012/13 Metro Transit Bus Fare Revenue in cost centre R631, G/L 5201.
In collecting such Retained Current Receivables, the Purchaser shall: (A) use commercially reasonable efforts and, in any event, no less effort that the Purchaser uses to collect its own accounts receivable; (B) shall not interfere with or prejudice the payment or collection of such Retained Current Receivables; and (C) not settle, modify or compromise any Retained Current Receivable without the prior consent of the Seller.