Refunds Payable definition

Refunds Payable means the unpaid balance of the Two Million Eight Hundred Forty-Seven Thousand Six Hundred Fifty-Two ($2,847,652.00) Dollars "refunds payable" amount reflected on Horizon's March 31, 1997 balance sheet.
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Examples of Refunds Payable in a sentence

  • The Escrowed Funds may be disbursed to Purchaser or by check made payable directly to the governmental agencies to which the Refunds Payable are due as directed in the Purchaser's statement referenced above.

  • Company may set off any amount to which it is entitled under the Article VII (except Section 7.03 (a)) against the escrowed funds in the Escrow Agreement and may set off amounts to which it is entitled under Section 7.03(a) against the escrowed funds in the Refunds Payable Escrow Agreement.

  • The funds held in escrow by the escrow agent pursuant to the Refunds Payable Escrow Agreement are intended to give security to Company and Horizon in case either of the Sellers shall become liable, after the Closing Date, for any amounts for which Company or Horizon is entitled to indemnification by such Seller pursuant to Section 7.03 (a) hereof.

  • However, Company and Horizon agree that they will first exhaust their rights to receive the funds in the Escrow Agreement and the Refunds Payable Escrow Agreement, as applicable, before seeking to recover damages against the Sellers under this Article VII.

  • REPORT # REPORT NAME REPORT PURPOSE -------------------------------------------------------------------------------- ACT900R Refunds Payable This report enables you to track and balance the amount of payables carried on a daily basis resulting from refunds.

  • The rights and remedies of Company and Horizon under the Escrow Agreement and the Refunds Payable Escrow Agreement shall be in addition to, and not exclusive of, any other rights and remedies that Company and Horizon may have against either of the Sellers for a breach of any provision of this Agreement or with respect to any of the items enumerated above.

  • So long as Seller remains responsible for Refunds Payable in connection with the operation of the Business prior to the Closing Date, Buyer shall provide Seller, the Shareholder and their respective representatives access to such information, data and records as they may reasonably request in order for Seller to administer and pay such liability and Buyer shall provide such cooperation as Seller or Shareholder may reasonably request in connection with administering such liability.

  • If ▇▇▇▇ ▇▇▇▇▇▇▇▇ shall no longer serve as President of Horizon, ▇▇▇▇▇ shall cause the law firm of ▇▇▇▇ ▇▇▇▇▇ & ▇▇▇▇, PLC, acting through its healthcare section, or such other law firm (the "Designated Law Firm")as ▇▇▇▇▇ shall designate and Company shall approve, shall, on behalf of ▇▇▇▇▇, and at Sellers' cost, prepare a recommendation as to how to settle and resolve the Refunds Payable so that Horizon shall have no further liability for said Refunds Payable.