Pre-Closing Accounts Receivable means all accounts receivable with respect to sales of Toner Products that occurred prior to the Closing Date other than accounts receivable arising from Pending Customer Purchase Orders.
Examples of Pre-Closing Accounts Receivable in a sentence
Any excess remaining after such Pre-Closing Accounts Receivable shall have been paid shall be applied to satisfaction of the Post-Closing Accounts Receivable.
All payments received by Buyer or Seller for services or goods performed or provided by the Facilities which have indicated on the check or other information accompanying the payment the period of care for which the payment is being made shall be applied to satisfaction of the Pre-Closing Accounts Receivable or the accounts receivable of Buyer arising on or after the Closing Date (Post-Closing Accounts Receivable), as the case may be, in accordance with the specification made by the payor.
In the event any of the Pre-Closing Accounts Receivable are paid to, or collected by, Buyer, Buyer shall immediately remit such Pre-Closing Accounts Receivable amount to Seller, and in any case, within fifteen (15) days after receipt thereof.
Buyer shall perform the initial billing, rebilling and collections in the ordinary course of business of Pre-Closing Accounts Receivable for the benefit of Sellers for a period of two (2) months following the Closing Date in respect of which Buyer shall be entitled to indemnity pursuant to Section 7.2 hereof for Buyers documented costs of the personnel performing such services.
From and after the Closing, Buyer shall collect payments on all Accounts Receivable, including those due and payable to Company as of the Closing Date (the Pre-Closing Accounts Receivable).