Residual Accounts definition

Residual Accounts has the meaning set forth in the Residual Account Side Letter.
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Residual Accounts means the Company’s accounts receivable as of the Closing Date which are related to the assets and operations of the Company that are excluded from the WAG Transaction as the same shall be reflected on the Closing Date Balance Sheet.
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Examples of Residual Accounts in a sentence

  • Thereafter, within two (2) Business Days after the Borrower’s receipt thereof, it shall deposit all proceeds that it receives with respect to the Residual Accounts into the Residual Account Deposit Account.

  • Promptly after opening the Residual Account Deposit Account, the Borrower shall deposit all proceeds that it shall have received from the Residual Accounts on or after Closing Date.

  • Prior to the implementation of this Agreement, ISO/MSP shall establish the Residual Account(s), which shall consist of one or more commercial checking accounts at Bank in the name of ISO/MSP, for settlement of residuals and charge-backs, if any, and to hold funds representing any reserve required by Bank.

  • Promptly after opening the Residual Account Deposit Account the Borrower shall deposit all proceeds that it shall have received from the Residual Accounts on or after Closing Date.