Excess accounts payable definition

Excess accounts payable means accounts payable of an Act 60 school district that exceed available funding; and
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Excess accounts payable means accounts payable of an Act
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Excess accounts payable means the aggregate amount by which (1) the total Accounts Payable, Accrued and Current Liabilities exceeds (2) the amount determined by multiplying (A) 0.123288 by (B) SRC's gross revenues as computed in accordance with GAAP consistently applied for the four quarters ending on March 26, 1999.
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Examples of Excess accounts payable in a sentence

  • Any excess (the "Excess Accounts Payable") in Transcell's open accounts payable over $463,497.01 (the "Capital Lease Amount") that has not been paid within thirty days of the invoice date, calculated in accordance with GAAP will serve to reduce the amount of book cash balance to be wired to Interneuron at or prior to closing.

  • The Seller shall have delivered evidence to Buyer together with a duly executed certificate from the President of the Seller certifying that it has paid or made arrangement for payment of the Excluded Liabilities described in Section 1.4(b) (Transaction Expenses, Taxes, Etc.), Section 1.4(c) (Indebtedness), Section 1.4(d) (Excess Accounts Payable and Accrued Expenses), Section 1.4(k) (Severance) and Section 1.4(l) (Pre-Closing Compensation).

  • For purposes of Section 2.03, the Cash Purchase Price, and for purposes of Section 1060 of the Code, the Purchase Price, shall be allocated among the Zartic Purchased Assets, the Zar Xxxx Purchased Assets, the JEM Sales Property and the JEM Sales Lab Equipment, and the MNM Assets, respectively, in the manner set forth on Schedule 2.08 hereto, as the same may be adjusted to reflect the Working Capital Adjustments and the Excess Accounts Payable Adjustments in accordance with Sections 2.04 and 2.05.

  • The parties acknowledge that Transcell has wire transferred its book cash balance as of the close of business of May 7, 1998 less the Excess Accounts Payable (approximately $13,000) to Interneuron.

  • At the Closing, the Cash Purchase Price shall be decreased by an amount equal to the Estimated Excess Accounts Payable for each Company.

  • There are no material Payables of either Company that are unpaid past their stated terms and not included in the Excess Accounts Payable for such Company.

  • Any excess (the "Excess Accounts Payable") in Transcell's open accounts payable over $463,497.01 (the "Capital Lease Amount") that has not been paid within thirty days of the invoice date, calculated in accordance with GAAP will serve to reduce the amount of book cash balance to be wired to Interneuron at or prior to Closing.

  • In the event that IMM Accounts Payable exceed the amount of Phone Inventory (such difference being referred as “Excess Accounts Payable”), the Purchase Price will be adjusted downward by the amount of such Excess Accounts Payable.


More Definitions of Excess accounts payable

Excess accounts payable means that portion of the accounts payable of the Company that has been outstanding greater than 60 days as of the Closing Date.
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Excess accounts payable means all (a) accounts payable for beef, poultry, pork, or veal that remain outstanding more than seven (7) days from the date of the invoice and (b) all accounts payable relating to anything other than beef, poultry, pork, or veal which remain outstanding more than thirty (30) days from the date of the invoice.
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Excess accounts payable has the meaning given such term in Section 2.5(d).
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Related to Excess accounts payable

  • Trade Accounts Payable means accounts payable or other obligations of the Company or any Restricted Subsidiary to trade creditors created or assumed by the Company or such Restricted Subsidiary in the ordinary course of business in connection with the obtaining of goods or services.

  • Accounts Payable means all trade and other accounts payable, including accrued expenses, owed by the Company.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

  • Collection Accounts As defined in Section 3.10(a).

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Eligible Accounts Receivable means Accounts, Instruments, Documents, Chattel Paper, Contracts, and General Intangibles from customers of Borrowers or any Approved Subsidiary in which Bank has a perfected first priority security interest subject to Bank's credit approvals thereof other than the following: (i) Accounts which remain unpaid ninety (90) days after the date of the applicable invoice; (ii) Accounts with respect to which the Account Debtor is an Affiliate of any of the Borrowers, or a director, officer or employee of any of the Borrowers; (iii) Accounts with respect to which the Account Debtor is the United States of America or any department, agency or instrumentality thereof, unless filings in accordance with the Assignment of Claims Act have been completed and filed in a manner satisfactory to the Agent or, as to any government contract entered into after the date of this Agreement, concurrently with the execution and delivery of that government contract; (iv) Accounts with respect to which the Account Debtor is not a resident of the United States or Canada except if such Accounts (1) are secured by irrevocable trade letter(s) of credit in form and content acceptable to Bank and confirmed by a United States financial institution acceptable to Bank, (2) are secured by standby letters of credit with an expiration of date of at least one hundred twenty (120) days from the date of shipment confirmed by United States Bank acceptable to Bank and otherwise in form and content acceptable to Bank, or (3) are insured by a company acceptable to Bank, which insurance covers business and political risk; (v) Accounts arising with respect to goods which have not been shipped and delivered to and accepted as satisfactory by the Account Debtor or arising with respect to services which have not been fully performed and accepted as satisfactory by the Account Debtor; (vi) Accounts for which the prospect of payment in full or performance in a timely manner by the Account Debtor is or is likely to become impaired as determined by the Bank in its reasonable discretion; (vii) Accounts which are not invoiced (and dated as of the date of such invoice) and sent to the Account Debtor within fifteen (15) days after delivery of the underlying goods to, or performance of the underlying services for, the Account Debtor; (viii) Accounts with respect to which Bank does not have a first and valid fully perfected security interest; (ix) Accounts with respect to which the Account Debtor is the subject of bankruptcy or a similar insolvency proceeding or has made an assignment for the benefit of creditors or whose assets have been conveyed to a receiver or trustee, except if Bank is delivered evidence acceptable to Bank as to the collectability in the normal course of business of such Accounts; (x) Accounts with respect to which the Account Debtor's obligation to pay the Account is conditional upon the Account Debtor's approval or is otherwise subject to any repurchase obligation or return right, as with sales made on a xxxx-and-hold, guaranteed sale, sale-and-return, sale on approval (except with respect to Accounts in connection with which Account Debtors are entitled to return Inventory solely on the basis on the quality of such Inventory) or consignment basis; (xi) Accounts with respect to which the Account Debtor is located in Minnesota unless the applicable Borrower has filed a Notice of Business Activities Report with the Secretary of State of Minnesota for the then current year; (xiv) all Accounts of any Account Debtor if twenty-five percent (25.0%) or more of all Accounts of such Account Debtor have ceased to be Eligible Accounts Receivable; and (xii) Accounts with respect to which the Account Debtors are residents of Canada to the extent the aggregate sum exceeds $750,000.00. The approvals of Account Debtors and Accounts shall be for Bank purposes only and shall not constitute any representation by Bank as to the credit worthiness of any such Account Debtor or the advisability or profitability of doing business with such Account Debtor.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Special Payments Account Means, with respect to the Class A Certificates, the account or accounts created and maintained for such series pursuant to Section 4.01(b) of the Basic Agreement (as modified by Section 7.01(c) of this Trust Supplement) and this Trust Supplement.

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (i) the amount of cash or other immediately available funds in the Reserve Account on such Payment Date (prior to giving effect to any withdrawals therefrom relating to such Payment Date) over (ii) the Specified Reserve Balance with respect to such Payment Date.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Excluded Accounts means any Xxxxx Cash Account and any other deposit account used for (a) funding payroll or segregating payroll taxes or funding other employee wage or benefit payments, (b) segregating 401(k) contributions or contributions to an employee stock purchase plan or (c) funding other employee health and benefit plans.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Financing Accounts means, collectively, the Credit Account and the Grant Account (or, where the context so requires, either of the Credit Account or the Grant Account).”