Overdue Receivables definition

Overdue Receivables as defined in Section 13.1.
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Overdue Receivables means, as of 11:59 p.m. Eastern Time on the date preceding the Closing Date, (i) all accounts receivable of the Companies and the Company Subsidiaries which are more than 45 days past their scheduled payment date (whether or not such amounts have been billed) and (ii) all rents and other amounts which are payable under the Tenant Leases and which are 45 days or more past their scheduled payment date (whether or not such amounts have been billed).
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Overdue Receivables has the meaning set forth in Section 2.1.
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Examples of Overdue Receivables in a sentence

  • The Overdue Receivables fall into Receivables Real for Collection, Bad Receivables.

  • Overdue Receivables in relation to which there exist grounds for considering it to be voluntary paid within reasonable time, or enforced by action.

  • It is the intention of the parties hereto that the arrangements with respect to the Overdue Receivables shall constitute a purchase and sale of such Overdue Receivables and not a loan.

  • The parties hereto intend that the conveyance of the Bank's right, title and interest in and to the Overdue Receivables shall constitute an absolute sale, conveying good title free and clear of any liens, claims, encumbrances or rights of others from the Bank to the Company and that the Overdue Receivables shall not be a part of the Bank's estate in the event of the insolvency of the Bank or a conservatorship, receivership or similar event with respect to the Bank.

  • As of the date hereof, the Bank hereby sells, assigns, transfers, sets over and otherwise conveys to the Company, all of the Bank's right, title and interest in, to and under all the Overdue Receivables (other than the Excluded Accounts and the Excluded Assets).

  • The capitalized terms used in this Article II but not otherwise defined in this Agreement shall have the respective meanings assigned to them in the Overdue Receivables Purchase Agreement.

  • For the avoidance of doubt, it is agreed and understood that all costs incurred to attempt to recover the Overdue Receivables, shall be borne by the Vendors.

  • Except for the litigation described on Schedule 4.6, which is attached hereto and made a part hereof, there are no actions, suits or proceedings pending or, to the knowledge of the Seller, threatened against or affecting the Seller which would reasonably be expected to cause any material adverse effect on the Overdue Receivables.

  • Notwithstanding the foregoing, the Seller is not transferring to the Purchaser and the Purchaser is not acquiring pursuant to this Agreement, and the term "Overdue Receivables" shall not include, any other assets of Seller not specifically referenced in Section 2.1 (the "Excluded Assets") or any Overdue Receivables generated by or related to accounts which are secured accounts, commercial or business accounts ("Excluded Accounts").

  • In consideration of the foregoing, BKB or such Affiliates of BKB as BKB may designate, shall receive an amount equal to the sum of all such credit card receivables sold to Receivables LLC pursuant to this Section 3.3, all as more fully set forth in the BKB Overdue Receivables Purchase Agreement.


More Definitions of Overdue Receivables

Overdue Receivables means the amount of all trade receivables of the Group under any agreement in respect of the supply of assets or services where payment is more than 90 days past due.
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Related to Overdue Receivables

  • Receivables means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

  • Purchased Receivables means all those accounts, receivables, chattel paper, instruments, contract rights, documents, general intangibles, letters of credit, drafts, bankers acceptances, and rights to payment, and all proceeds thereof (all of the foregoing being referred to as "receivables"), arising out of the invoices and other agreements identified on or delivered with any Invoice Transmittal delivered by Seller to Buyer which Buyer elects to purchase and for which Buyer makes an Advance.

  • Warranty Receivable means a Receivable which the Seller is required to repurchase pursuant to Section 3.02.

  • Finance Charge Receivables means Receivables created in respect of periodic finance charges, late fees, returned check fees and all other similar fees and charges billed or accrued and unpaid on an Account.

  • Principal Receivables means all Receivables other than Finance Charge Receivables. In calculating the aggregate amount of Principal Receivables on any day, the amount of Principal Receivables shall be reduced by the aggregate amount of credit balances in the Accounts on such day.