Uncollected Accounts Receivable definition

Uncollected Accounts Receivable has the meaning ascribed to it in Section 1.06.

Uncollected Accounts Receivable shall have the meaning ascribed to such term in Section 2.05(c).

Uncollected Accounts Receivable means any portion of any billed or unbilled accounts receivable of the Company that (a) is ninety (90) or more days old (measured from the date of invoice) as of the Effective Time, excluding the accounts receivable expressly set forth on Schedule 1.1(d) attached hereto, or (b) is unpaid as of the Effective Time (regardless of age) and is ninety (90) or more days old (measured from the date of invoice) as of the date that Buyer delivers to Seller the Preliminary Closing Statement.

Examples of Uncollected Accounts Receivable in a sentence

• Following the Closing Date, the Company shall, and Buyer shall cause the Company to, use reasonable best efforts to collect all Uncollected Accounts Receivable; provided, that such efforts shall not require Buyer or the Company to initiate any Proceedings to collect any such Uncollected Accounts Receivable.

• Notwithstanding anything in this Agreement to the contrary, Buyer may elect in its sole discretion to exclude any Uncollected Accounts Receivable from the calculation of the Preliminary Working Capital Determination and any resulting payments due and payable pursuant to Section 2.4 of this Agreement (if any).

• Upon any Uncollected Accounts Receivable becoming one hundred fifty (150) days old (measured from the date of invoice), the Company shall, and Buyer shall cause the Company to, engage a third-party debt collection service to collect such Uncollected Accounts Receivable; provided that, Buyer and the Company may request that Seller consent to waiving the foregoing requirement that the Company engage a third-party debt collection service, which consent Seller may grant in its sole discretion.

• To the extent the one of the Purchasers receives a payment for a specifically identifiable Uncollected Accounts Receivable after the Receivables Date, such Purchaser shall promptly forward such payment to the applicable Company.

• For purposes of determining the Uncollected Accounts Receivable hereunder, to the extent that one of the Purchasers receives a payment for an account receivable after the Closing Date which can be specifically identified to a particular invoice, such payment shall be allocated to that particular invoice; in all other cases, the Purchasers shall contact the applicable account debtor and apply the payment as directed by the account debtor.

More Definitions of Uncollected Accounts Receivable

Uncollected Accounts Receivable means the Accounts Receivable or portions thereof which are not collected by the Buyer, payable in cash or other forms of payment (e.g. note, securities), within one hundred twenty (120) days subsequent to the Closing Date.

Uncollected Accounts Receivable means the accounts receivable of the Company as of the Signing Date, excluding the Company’s bad debt reserves and credit accounts receivable balance as recorded on the Company’s balance sheet, which have not been collected by the Company as of the second Business Day prior to the Closing Date.

Uncollected Accounts Receivable shall have the meaning provided in Section 3.10(b) hereof.

Uncollected Accounts Receivable has the meaning set forth in Section 5.04.

Uncollected Accounts Receivable means any Accounts Receivable included in the Assets that have not been paid to Buyer within 150 days of the Closing Date. Commencing ten (10) days after the first full calendar month following the Closing Date, Buyer shall deliver monthly reports to Seller showing the aging of Accounts Receivables included in the Assets. Buyer shall also deliver a notice to Seller identifying the Uncollected Accounts Receivable in reasonable detail within 165 days of the Closing Date. Provided Buyer has complied with the provisions of Section 3.7(b) below, Seller shall pay an amount equal to the aggregate amount of the Uncollected Accounts Receivable submitted by Buyer to Seller for payment to Buyer within fifteen (15) days of receiving the Buyer's notice relating thereto by wire transfer of immediately available funds to an account designated by Buyer, and Buyer shall thereupon assign all of its right, title and interest in such Uncollected Accounts Receivables. For the avoidance of doubt, if Buyer does not submit a particular Uncollected Account Receivable for payment by Seller within such 165 day period, Buyer shall not have any right to, and shall not be obligated to, assign it to Seller in accordance with the foregoing sentence and Seller shall have no obligation to make any payment to Buyer relating thereto.

Uncollected Accounts Receivable shall have the meaning given to such term in Section 8.9 herein.

Uncollected Accounts Receivable is defined in Section 10.3(d).