Purchaser Accounts definition
Examples of Purchaser Accounts in a sentence
If the Seller or any of its Affiliates receives a sum in respect of a Purchaser Accounts Receivable or part thereof incurred in connection with sales of Strimvelis by the Purchaser or its Affiliates after the Completion Date, the Seller shall hold it, or such part, on trust for the Purchaser and shall, within [***], pay it to the Purchaser.
It undertakes not to open any accounts, in its name or otherwise, into which Obligors will be directed to make payments in respect of Purchased Receivables other than the Master Purchaser Accounts.
Seller shall present to Purchaser Accounts for purchase pursuant to this Agreement in the Assignment Schedule.
The Purchaser has delivered the Purchaser Balance Sheets which accurately, correctly and completely reflect the aggregate amount of the Purchaser's accounts payable (the "Purchaser Accounts Payable") at the respective dates thereof.
All of the Purchaser Accounts Payable are current (within 30 days), arose out of bona fide transactions in the ordinary course of business, and are the valid and binding obligations of and are enforceable against the Purchaser, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect.
Purchaser may send a monthly statement to all Account Debtors itemizing their account activity during any preceding billing period; however, Purchaser Accounts Receivable Purchasing Agreement is under no obligation to do so.
All the Purchaser Accounts Receivable result from bona fide business transactions and services actually rendered without, to the knowledge and belief of Purchaser, any claim by the obligor for set-off or counterclaim.
Transactional accounting as recorded from Tila Top UpTM’s Commercial or Purchaser Accounts shall be the final record and accounting of all transactions made by Tila Top UpTM.
Notwithstanding anything to the contrary hereinabove, the following assets and properties shall be retained by Seller and shall not be sold or transferred to Purchaser: Accounts and notes receivable, prepaid insurance and other prepaid assets, antiques, personal effects, dealer finance reserves, earned factory rebates, earned credits, manufacturer holdbacks or other allowances or incentives relating to vehicles sold prior to Final Closing, bank deposits and cash.
In addition, on or prior to the Initial Transfer Date, the Primary Servicer, the Providers, the Purchaser, the Program Manager, the Collateral Agent, and the Local Banks shall have entered into the Control Agreements with respect to each of the Local Purchaser Accounts and shall have caused the Local Banks to establish each Local Purchaser Account.