Accounts and Other Receivables. There are no accounts receivable of the Business except as reflected in the unaudited interim balance sheet for the Business as of July 31, 2005 or as otherwise incurred in the ordinary course of business since July 31, 2005 or as set forth on Schedule 5.16, an updated copy of which Schedule will be delivered to Buyer at Closing.
Accounts and Other Receivables. All accounts receivable of the Business reflected in the Most Recent Balance Sheet, or existing at the Closing Date, have been collected or are collectible within 120 days after the date incurred in the amounts at which they are carried on the books of Seller, subject to the reserve for bad debts reflected in the Most Recent Balance Sheet as adjusted for operations and transactions through the Closing Date in accordance with the past custom and practice of Seller.
Accounts and Other Receivables. (a) Such Grantor shall not, other than in the ordinary course of business, (i) grant any extension of the time of payment of any Receivable, (ii) compromise or settle any Receivable for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any Receivable, (iv) allow any credit or discount on any account or (v) amend, supplement or modify any Receivable in any manner that could adversely affect the value thereof.
Accounts and Other Receivables. 28 5.16 Inventory............................................. 29 5.17
Accounts and Other Receivables. The accounts receivable of the Business reflected in the 1998 Balance Sheet have been collected or are collectible within 180 days after the date invoiced, and the accounts receivable of the Business existing at the Closing Date will have been collected or will be collectible within 180 days after the date invoiced, in each case in the aggregate amount at which such receivables are carried on the 1998 Balance Sheet or Closing Balance Sheet (as the case may be), in each case less in the aggregate the reserves specifically provided for in the 1998 Balance Sheet or Closing Balance Sheet, as the case may be, for doubtful accounts. Seller issues invoices on a regular basis within 30 days after the date any transaction covered thereby occurs.
Accounts and Other Receivables. All accounts receivable of the Business and included in the Transferred Assets represent bona fide transactions made in the ordinary course of business of the Company. The Company has delivered to Buyer an aging report with respect to all accounts receivable of the Business existing as of the date that is two Business Days immediately preceding the date of this Agreement.
Accounts and Other Receivables. All accounts, notes, receivables, and other rights to receive money, arising out of or relating to the Business;
Accounts and Other Receivables. Seller and Buyer agree that all accounts receivable of Seller as of the Pre-Effective Moment (including commissions earned but not paid on business billed by Seller which was written and having an effective date prior to the Effective Date, but excluding direct xxxx commissions not received by Seller prior to the Effective Date) to be attached hereto at Closing (and to be updated, if necessary, as soon thereafter as is practicable) as Schedule 11 belong to Seller and shall be paid to Seller in the manner described
Accounts and Other Receivables. Seller and Buyer agree that all accounts receivable of Seller as of the Pre-Effective Moment (including commissions earned but not paid on business billed by Seller which was written and having an effective date prior to the Effective Date, but excluding direct bill commissions not rxxxxved by Seller prior to the Effective Date) to be attached hereto at Closing (or as soon thereafter as is practicable) as Schedule 11 belong to Seller and shall be paid to Seller in the manner described below. Buyer shall collect for a period of six months after the Effective Date all receivables paid to it which belong to Seller as determined by specific invoice. If there is no invoice enclosed or to which such payment is attributable and neither Seller nor Buyer is aware of a dispute as to the oldest balance of such account, then each payment shall be applied to the oldest balance of that account first. Not later than twenty (20) days after the end of any month, Buyer shall remit to Seller all receivables so collected for the Seller, or if the escrow account to be established pursuant to Section 12 is underfunded, then, and to such extent to such escrow
Accounts and Other Receivables. The Company Stockholder shall promptly forward to the Buyer any and all proceeds from accounts and other receivables of the Business that are received by the Company Stockholder or any of its Affiliates after the Closing Date, and the Buyer shall promptly forward to the Company Stockholder any and all proceeds from accounts and other receivables of the Company Stockholder that are received by the Surviving Company after the Closing Date.
