Current Receivables definition

Current Receivables means (a) all obligations of the trade debtors of the Owner due or owing to the Owner on account of the prevailing debit balances of the present book debts of the Owner and (b) all rights relating to the aforesaid property specified in clause (a), including, INTER ALIA, negotiable instruments, legal and equitable charges, reservations of property rights, rights of action, collection, recovery or security, rights of tracing an unpaid vendor's liens and similar and associated rights (and each reference to a "Current Receivable" shall be construed as a reference to the whole or any part of any one or more of them).

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Current Receivables means only those Accounts Receivable that are outstanding for 60 days or less.

Current Receivables means, as of 11:59 p.m. on the calendar day prior to the Test Date or the Closing Date, as applicable, all receivables due from customers for (A) each payday loan or advance (i) made in the ordinary course of business; (ii) that is then less than five (5) days past its initial contractual payment due date; (iii) for which the customer check or ACH authorization has not been presented or deposited by the applicable Seller or returned or otherwise denied by the bank; and (iv) has not been or should not be re-aged or written-off using the aging and write-off rules and related business policies and accounting practices of the applicable Seller; and (B) each installment loan (i) made in the ordinary course of business; (ii) that is then less than six (6) days past an unpaid contractual payment due date; (iii) for which the customer check or ACH authorization has not been presented or deposited by the applicable Seller or returned or otherwise denied by the bank; and (iv) has not been or should not be re-aged or written-off using the aging and write-off rules and related business policies and accounting practices of the applicable Seller. For purposes of clarity, Current Receivables excludes any voided or rescinded loans where the customer has repaid the loan. The calculation of Current Receivables shall be made using the SQL scripts required to produce the output for the period of June 2, 2011 through July 1, 2011, as set forth on Schedule 2.04, subject to normal and customary deviations due to changes in historical data.

Examples of Current Receivables in a sentence

• If the Principal Balance of the Delinquent Receivable proposed to be replaced by one or more Current Receivables is greater than the aggregate Principal Balances of such Current Receivables, the Seller shall deposit cash into the Concentration Account in an amount equal to such excess.

• At the Closing, the Seller shall cause the Company and the Subsidiary to have Working Cash in its accounts in an amount that is no less than the greater of either: (a) Current Liabilities minus Current Receivables of the Company and the Subsidiary as of the Closing Date and (b) $200,000.

• Permit, on the last day of any fiscal quarter, the ratio of (i) Consolidated Net Current Receivables (including billed and unbilled account receivables) and cash and Cash Equivalents not subject to any Lien to (ii) Indebtedness on such day to be less than 1.25 to 1.00.

• During the Collection Period, upon reasonable notice, the Purchaser shall afford the Seller reasonable access, during normal business hours, to the books and records of the Purchaser relating to the Retained Current Receivables.

• The total purchase price for the inventory and the Current Receivables is hereinafter referred to as the "Property." The Purchase Price and the Inventory and Receivables Price shall be payable at Closing.

More Definitions of Current Receivables

Current Receivables means Receivables represented by

Current Receivables has the meaning set forth in the Transaction Accounting Principles.

Current Receivables means the aggregate face amount of the Company’s Receivables (including all fees related thereto) on the balance sheet as of the Effective Time with respect to which the Company has not as of the Effective Time deposited or attempted to deposit the related check. Current Receivables do not include any amounts relating to uncollected checks, returned checks or loans for which the Company would have otherwise deposited the check as of the Effective Time in the Ordinary Course of Business of the Company or any NSF receivables.

Current Receivables. As used herein, the term "Current Receivables" shall mean each of the Receivables that are Current Assets.

Current Receivables means all Accounts Receivable that as of the Closing Date are not more than 90 days past due. For the sake of clarity, Current Receivables shall not include any accounts receivable associated with the ETONIC business or the Sporting Goods Business.

Current Receivables means Receivables (as defined in subparagraph (e)): (i) with respect to which not more than 90 days have elapsed since the date of the original invoice applicable thereto, (ii) with respect to which the account debtor (A) is not an affiliate of Lessee and (B) has not filed bankruptcy or gone out of business, (iii) with respect to which the services covered thereby have been rendered and accepted by the account debtor and the finished goods covered thereby have been delivered to the account debtor and accepted by such account debtor, (iv) which are owing from the same account debtor or its affiliates so long as not more than 50% of such Receivables are unpaid more than 90 days after the original invoice date applicable thereto, and (v) in which the Bank has a first priority security interest.

Current Receivables means, as of any Cut-Off Date, the aggregate Outstanding Balance of Receivables as to which no payment, or part thereof, remains unpaid on or after the due original due date.