Specified Payables definition

Specified Payables means the accounts payable owed by Borrower that are listed on Schedule 1 hereto, in the amounts listed on such Schedule.
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Specified Payables means the difference between (i) the aggregate amount of all trade payables aged in excess of (A) 60 days past due (other than the ▇▇▇▇▇ Premiums) and all book overdrafts and (ii) $1,500,000; in accordance with their customary practice and as reflected on the most recent Accounts Payable report provided under Section 5.1(s).
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Specified Payables means those obligations owing by the Borrowers pursuant to the Specified Note.
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Examples of Specified Payables in a sentence

  • Borrower anticipates that additional Specified Payables will hereafter remain outstanding for more than 90 days past the original invoice or billing date therefor, and Borrower's failure to pay the same may constitute additional Events of Default under the Credit Agreement.

  • Borrower has paid all Specified Payables (other than the listed payables owing to Marine Drilling and Schlumberger Technology Corporation).

  • Certain Specified Payables have been outstanding for more than 90 days past the original invoice or billing date therefor, and Lender contends that Borrower failed to disclose to Lender the incurring of additional Indebtedness through the aging of accounts payable beyond ninety (90) days subsequent to the closing of the Original Agreement.

  • If, following the determination of the Actual Specified Payables Adjustment Amount (as agreed between the Parties or as determined by the Independent Accounting Firm), the Estimated Specified Payables Adjustment Amount minus the Actual Specified Payables Adjustment Amount is a positive number, then Buyer shall be obligated to pay Seller a cash payment equal to the positive number.

  • Should such negotiations not result in an agreement within thirty (30) days after receipt by Seller of such written objection from Buyer, then the disputed items of the Actual Specified Payables Adjustment Amount (such items, the “disputed items”) shall be submitted to the Independent Accounting Firm, and all other items on the Actual Specified Payables Adjustment Amount shall be final, binding and conclusive on the Parties.

  • Any such payment will be due and payable within three (3) Business Days after the Actual Specified Payables Adjustment Amount is finally determined as provided in this Section ‎2.3, and will be payable by wire transfer of immediately available funds to such account or accounts as shall be specified by Buyer or Seller, as applicable.

  • If the Estimated Specified Payables Adjustment Amount minus the Actual Specified Payables Adjustment Amount is a negative number, then Seller shall be obligated to pay Buyer a cash payment equal to the absolute value of such negative number.

  • At the Closing, Buyer shall pay to Seller the Initial Amount minus the Estimated Specified Payables Adjustment Amount in accordance with Section ‎2.2(b), without deduction or withholding of any kind, by wire transfer of immediately available funds in U.S. Dollars to such account or accounts specified by Seller to Buyer in writing at least two (2) Business Days prior to the Closing (the “Closing Payment”).

  • The Initial Amount payable at the Closing will be decreased by an amount equal to the absolute value of such Estimated Specified Payables Adjustment Amount.

  • Within sixty (60) days after the Closing, Seller will prepare and deliver to Buyer a computation of the actual Specified Payables Adjustment Amount (the “Actual Specified Payables Adjustment Amount”), such Actual Specified Payables Adjustment Amount being an absolute value.


More Definitions of Specified Payables

Specified Payables means the aggregate amount of all trade payables aged in excess of 60 days past the applicable invoice date and all book overdrafts, in each case as reasonably determined by Administrative Agent.”
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