Accounts Payable and Receivable. All accounts payable and expenses related to operations of the Property which have accrued before the Closing Date shall, except as otherwise expressly provided herein, be paid by Seller on or before the Closing Date or credited to Buyer in escrow, and all accounts payable and expenses arising after the Closing Date which are incurred by or at the direction of Buyer outside of this Agreement will be Buyer's sole responsibility. Buyer shall not acquire accounts receivable from Seller, and there shall be no adjustments or prorations therefor; provided, however, that Buyer shall use reasonable efforts (excluding litigation and other collection procedures) for a period of six months after the Closing Date to collect on behalf of Seller all accounts receivable outstanding as of Closing. Buyer shall remit all amounts collected therefor to 3102/001/106725 Seller upon Buyer's receipt of same. Buyer shall also remit to Seller, upon Buyer's receipt of the same, all other amounts received by Buyer in payment of Seller's accounts receivable, at any time thereafter. For the period from the Closing Date to six months thereafter, Seller shall have the right, but not the obligation, to institute a lawsuit or other collection procedure or action to collect any past due rents or other amounts due under the Tenant Leases prior to Closing. Any past due rents or other amounts due under the Tenant Leases prior to Closing paid directly to Seller specifically in settlement of such amounts shall be retained by Seller. Any rents collected from former tenants whose lease was terminated prior to Closing shall be Seller's property.
Accounts Payable and Receivable. The Company and, prior to the Spin-Off Matrix, shall, and shall cause their respective Subsidiaries to, process and pay all of their respective accounts payable and process and collect all of their respective accounts receivable, in each case, in the ordinary course of business consistent with the applicable payment terms, including with respect to applicable payment terms for each particular vendor and customer, and including as to the timing of payment or collection (in each case solely with respect to the SpinCo Business, the SpinCo Assets and the SpinCo Liabilities).
Accounts Payable and Receivable. 4.1. Responsible for completion of, end to end- single point of contact, daily processing of accounts receivable requests and tasks including invoicing and credit control for delegated cost centres and projects.
Accounts Payable and Receivable. (a) From and after the Closing, (i) if the Company Group receives any payment, refund or other amount that is properly due and owing in respect of the Seller Business, the Company Group promptly shall remit, or shall cause to be remitted, such amount to Seller or its designee and (ii) if the Seller Group receives any payment, refund or other amount that is properly due and owing to the Business, the Seller Group promptly shall remit, or shall cause to be remitted, such amount to Buyer or its designee.
Accounts Payable and Receivable. A summary statement of the accounts payable and receivable of the Company as of September 30, 2007 is as set forth on Schedule 3.29 hereto. There has been no material change in the balance of accounts payable and accounts receivable since that date other than changes consistent with past practices of the Company in the ordinary course of business. All accounts receivable are collectible in the ordinary course of business.
Accounts Payable and Receivable. A true, accurate, and complete statement of the accounts payable and receivable of the Company as of November 30, 2007 is as set forth on Schedule 3.30 hereto. There has been no material change in the balance of accounts payable and accounts receivable since that date other than changes consistent with past practices of the Company in the ordinary course of business. All accounts payable and receivable are valid obligations arising from sales actually made or services actually performed by the Company in the ordinary course of business. All accounts receivable are collectible in the ordinary course of business.
Accounts Payable and Receivable. Accelerate or delay the payment of any material accounts payable or extend or make any agreement to extend the payment terms of any accounts receivable.
Accounts Payable and Receivable. All Accounts Payable accrued through and including the Closing Date shall be borne by Transferor. All Accounts Payable resulting from the operation of the EMS Operations and incurred after the date of Closing Date shall be the responsibility of the Transferee. All Accounts Receivable existing as of the Closing Date, which are attributable to the operation of the EMS Operations (the “Pre-Closing Accounts Receivable”), shall be retained by Transferor. Transferee shall make reasonable efforts to collect the Pre-Closing Accounts Receivable on behalf of Transferor. Transferee further agrees that if at any time after the Closing Transferee shall receive any payments or reimbursements relating to the Pre-Closing Accounts Receivable, Transferee shall remit such payment or reimbursement to Transferor. All Accounts Receivable resulting from the operation of the EMS Operations following the Closing shall be the property of and collected by Transferee. Transferor agrees that if at any time after the Closing Transferor receives any payments or reimbursements relating to Accounts Receivable attributable to the operation of the EMS Operations after the Closing Date, Transferor shall remit such payment or reimbursement to Transferee. For a period of 24 months after the Closing Date, Transferee shall not classify any Pre-Closing Accounts Receivable as “not collectible” or record any Pre-Closing Accounts Receivable as “bad debt” without the prior written consent of the Transferor.
Accounts Payable and Receivable. All accounts payable and accounts receivable in connection with the Vendor's Business arising prior to Closing shall be for the account of the Vendor, and save as aforesaid all transactions of the Vendor's Business on and after Closing shall be for the account of the Purchaser.
Accounts Payable and Receivable. All accounts payable or receivable of the Business existing as of the Closing Date or relating to any periods prior to the Closing Date shall remain the accounts payable or receivable of SELLER.
