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. 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. 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. 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. 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. (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. 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. 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. The National Skills Fund uses a policy whereby advances should be paid back in the same year that it is granted. There was no movement in the accounts payable, amounting to R3 091 000 and the accounts receivable, amounting to R1 141 000 between the current and prior year. The NSF could not provide any supporting documentation to support these amounts. For the items included in 3.2 to 3.4 no alternative audit procedures could be performed.
Accounts Payable and Receivable. 4.1. Responsible for completion of daily processing of accounts receivable requests and tasks including invoicing and credit control for delegated cost centres and projects.
4.2. Responsible for completion of payable tasks for delegated cost centres and projects.
