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. (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.
(b) Except as otherwise provided in this Agreement, such Grantor will make commercially reasonable efforts to collect and enforce, at such Grantor’s sole expense, all amounts due or hereafter due to such Grantor under the Receivables owned by it.
(c) Such Grantor will deliver to the Administrative Agent immediately upon its request during the continuation of an Event of Default duplicate invoices with respect to each Account owned by it bearing such language of assignment as the Administrative Agent shall specify.
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. All accounts, notes, receivables, and other rights to receive money, arising out of or relating to the Business;
Accounts and Other Receivables. (a) Reserved.
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. 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.
Accounts and Other Receivables. All accounts receivable of the Business and included in the Assets represent bona fide transactions made in the Ordinary Course of Business of Seller and are collectible within 90 days of the date of their respective creation. Seller has delivered to Buyer an aging report with respect to all accounts receivable of the Business existing as of the date two Business Days immediately preceding the date hereof and, prior to the Closing, shall have delivered to Buyer an aging report with respect to the accounts receivable of the Business existing as of the Business Day immediately preceding the Closing Date.
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. (a) Such Debtor will hold and preserve its Records concerning its Accounts and the originals of all Chattel Paper and Instruments in a commercially reasonable manner and will permit representatives of Administrative Agent or any Lender to visit and inspect its properties and make abstracts from and copies of such Records and Chattel Paper and Instruments in accordance with Section 8.08 of the Credit Agreement.
(b) Except as otherwise provided in this Section 4.6, such Debtor shall continue to collect, in accordance with commercially reasonable procedures and at its own expense, all amounts due or to become due to such Debtor under its Accounts, Chattel Paper, and Instruments. In connection with such collections, such Debtor may take (and, at Administrative Agent’s direction, shall take) such action as such Debtor or Administrative Agent may deem reasonably necessary or advisable to enforce collection of such Debtor’s Accounts, Chattel Paper, and Instruments; provided, however, that Administrative Agent shall have the right, if an Event of Default exists, without notice to any Debtor, to notify the Account Debtors or obligors under any Accounts, Chattel Paper, and Instruments of the assignment to Administrative Agent of such Accounts, Chattel Paper, and Instruments, to direct such Account Debtors or obligors to make payment of all amounts due or to become due to such Debtor thereunder directly to Administrative Agent and, at the expense of such Debtor, to enforce collection of any such Accounts, Chattel Paper, and Instruments, and to adjust, settle or compromise the amount or payment thereof, in the same manner and to the same extent as such Debtor might have done or as Administrative Agent reasonably deems appropriate.
(c) If any Event of Default exists, all amounts and proceeds (including Instruments) received by such Debtor in respect of any Receivable shall be received in trust for the benefit of Administrative Agent hereunder, shall be segregated from other funds and property of such Debtor and shall be forthwith paid or delivered over to Administrative Agent in the same form as so received (with any necessary endorsement) to be held as cash collateral, thereafter to be applied as provided in the Credit Agreement and the other Loan Documents.
(d) Such Debtor will not adjust, settle, or compromise the amount or payment of any Receivable, release wholly or partly any Account Debtor or obligor thereof, or allow any credit or discount thereon, except in th...
