Overdue A/R definition

Overdue A/R means the aggregate amount of uncollected Accounts Receivable (excluding accounts receivable of the type recorded by Seller as "unearned revenue," consistent with past practices) that are more than sixty (60) days past due as of the Overdue A/R Measurement Date.
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Examples of Overdue A/R in a sentence

  • Any Aged Accounts Receivable of the Company and its Subsidiaries as of the Closing Date that is not reflected on the Statement of Aged Accounts Receivable, if any (“Excess Overdue AR”), shall be paid to Parent if, and only to the extent that, such Excess Overdue AR causes the Balance Sheet Adjustment Amount to be greater than zero, and shall not be limited to the Threshold Amount or the Deductible Amount.

  • On the date hereof, Buyer is depositing with the Escrow Agent (the "A/R Escrow Account") Two Hundred Fifty Seven Thousand One Hundred Ninety One Dollars ($257,191) (the "A/R Escrow Amount"), which represents the excess of the Overdue A/R over the sum of (a) the reserves established by Seller for Accounts Receivable as of the Overdue A/R Measurement Date, and (b) the aggregate amount in respect of Overdue A/R collected between the Overdue A/R Measurement Date and the Closing Date.

  • Parent shall have the right to require that the Excess Debt and Excess Overdue AR be paid to it (i) first, as an offset from any amount payable under the Aged Accounts Receivable Adjustment pursuant to Section 1.5 hereof and (ii) thereafter from (A) the Escrow Fund or (B) the Shareholders and Participating Optionholders based on their respective Pro Rata Portion.