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Accounts Payable and Receivable Sample Clauses

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 as a reduction of the Purchase Price, 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 one hundred eighty (180) calendar days after the Closing Date to collect on behalf of Seller all accounts receivable outstanding as of Closing. Any rents collected by Buyer after the Cutoff Time from any tenant who owes rents for periods prior to the Closing Date, shall be applied (1) first, to Seller and Buyer, in an amount equal to the rents payable by such tenant for the month in which the Closing Date occurs, apportioned as of the Closing Date, (2) second, to Buyer in an amount equal to rents owed by such tenant for all periods from and after the Closing Date to the date of receipt, and (3) third, to Seller in an amount equal to rents owed by such tenant to Seller. Each such 3102/001/117988.10 amount, less any costs of collection (including reasonable counsel fees and customary disbursements) reasonably allocable thereto, shall be adjusted and prorated as provided above, and the party who receives such amount shall promptly pay over to the other party the portion thereof to which it is so entitled. Seller shall have the right, upon notice to Buyer, to pursue tenants to collect such delinquencies (including, without limitation, the prosecution of one or more lawsuits), but Seller shall not be entitled to evict (by summary proceedings or otherwise) any such tenants.
Accounts Payable and ReceivableThe 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. 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. The DDA shall be responsible for all materials, supplies, and services rendered that were ordered or contracted for or by DDA for the performance of any service, duty, responsibility or obligation to be provided herein by DDA.
Accounts Payable and Receivable. Set forth on Schedule 4.1(S) under the sub-heading “Payables” is a true and complete list of all payables owed by the Seller as of the Closing Date, totaling $56,081 in the aggregate (the “Payables”). Payables shall also include (i) any amounts accrued but not yet due or payable under any of the Purchased Commitments for the purchase of inventory and (ii) any amounts accrued but not yet due or payable under any of the Purchased Commitments not involving the purchase of inventory provided that such amounts shall not exceed $3,000 in the aggregate. Set forth on Schedule 4.1(S) under the sub-heading “Receivables” is a true and complete list of all receivables owing to the Seller as of the Closing Date, totaling $201,959 in the aggregate (the “Receivables”). There are no other payables owing by the Seller or receivables owing to the Seller.
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. (b) To the extent the Company Group receives any invoices or statements evidencing amounts owed to another Person in respect of the Seller Business, the Company Group shall promptly deliver such documents to Seller or its designee unless otherwise set forth in the Transition Services Agreement. To the extent the Seller Group receives any invoices or statements evidencing amounts owed to another Person in respect of the Business, Seller shall promptly deliver such documents to Buyer or its designee unless otherwise set forth in the Transition Services Agreement. (c) Following the Closing, the parties shall cooperate in promptly advising customers and vendors to direct to the appropriate party any future payments by such customers and vendors.
Accounts Payable and Receivable. Stereophile shall remain obligated for and shall pay all accounts payable incurred in connection with the publication of the Publications through the Closing. Stereophile shall also remain obligated for and shall pay all wages, benefits, vacation, sick leave and other benefit accruals through the date of Closing for all employees who cease being employees of Stereophile, whether or not they become employees of NewCo. Stereophile shall be entitled to collect and retain all accounts receivable or other rights to receive money or property earned or accrued prior to Closing.
Accounts Payable and Receivable. All of the accounts receivable and accounts payable of the Company reflected in the Financial Statements are bona fide and represent accounts receivable and accounts payable, as applicable, validly due for goods sold or services rendered. Except as set forth on Schedule 3.27, to the Knowledge of the Company, such accounts receivable and accounts payable, taken as a whole, are collectible or payable in all material respects in the ordinary course of business at the aggregate recorded amounts thereof, net of any applicable allowances for doubtful accounts reflected on the Financial Statements. All accounts receivable and accounts payable have been recorded and paid or collected, as applicable, in the ordinary course of business and consistent with past practice up to and including the date of this Agreement, without any material variance in the payment or collection thereof.
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. 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.