Accounts Receivable Adjustments. In accordance with Miami-Dade County Implementing Order 3-9, Accounts Receivable Adjustments, if money is owed by the Awarded Bidder to the County, whether under this Contract or for any other purpose, the County reserves the right to retain such amount from payment due by County to the Awarded Bidder under this Contract. Such retained amount shall be applied to the amount owed by the Awarded Bidder to the County. The Awarded Bidder shall have no further claim to such retained amounts which shall be deemed full accord and satisfaction of the amount due by the County to the Awarded Bidder for the applicable payment due herein.
Accounts Receivable Adjustments. (a) Buyer will (i) use reasonable efforts to collect all of the Accounts Receivable pursuant to the terms of this Section 1.5; (ii) not extend additional credit to customers who have not paid Accounts Receivable owed by them as of the time such Accounts Receivable are returned to the Sellers by the Buyer pursuant to this Section 1.5, unless Buyer determines, in its reasonable discretion, that (A) the uncollected Accounts Receivable from such customer are an insignificant portion of the total sales made to such customer or (B) the customer is a significant customer of Buyer.
Accounts Receivable Adjustments. (a) The Cash Purchase Price shall be subject to adjustment, as set forth in this Section 1.4, to reflect the difference, if any, between the book value of the Accounts Receivable determined as of the Closing Date (the "Closing Date Accounts Receivable"), and the net cash dollar amount of the Accounts Receivable which has been collected by Buyer ("Collected Accounts Receivable") during the period from the Closing Date through the date that is the six-month anniversary of the Closing Date (the "Collection Period Date").
Accounts Receivable Adjustments. 4 1.5 Adjustments for Inventory Shrinkage or Diminishment During Distribution Services Period......4 1.6
Accounts Receivable Adjustments. At Closing, Seller Group shall deliver to Purchaser a schedule of all Accounts Receivable as of the close of business on the day immediately prior to the Closing. Seller shall promptly turn over to Purchaser all payments it receives with respect to any Accounts Receivable as of the Closing Date. The Purchaser shall use its best efforts to collect the Accounts Receivable during a period of 180 days from the Closing Date (the "Collection Period"). If Purchaser is required to institute legal proceedings in connection therewith, the reasonable costs thereof (including legal fees) shall be borne by Seller. Purchaser shall give Seller 20 days notice prior to instituting any action to collect any account receivable. All amounts collected from customers shall be first applied to the oldest receivable of such customer unless the payment identifies the invoice for which payment is being made or disputes the validity or amount of any receivable due to Seller. If the amount of Account Receivables collected by the Purchaser during the Collection Period is less than the amount thereof reflected as Accounts Receivable (net or reserves for uncollectible accounts) on the Closing Date Net Working Capital Statement, the Purchaser shall provide to Seller a report certified as correct by an Officer of Purchaser, within 180 days after Closing, of all uncollected accounts, and Seller Group shall pay such amount. Seller Group shall not be required to reimburse the Purchaser with respect to any concessions or adjustments given by the Purchaser to the customer relating to any such unpaid receivable, unless the Seller Group has previously consented to such adjustment in writing, or (ii) any amount not paid by a customer directly resulting from any action taken by Purchaser with respect to the sale of products to that customer after Closing. Upon such reimbursement, Purchaser shall assign such uncollected accounts receivable to Seller, and Seller shall have the right to undertake such collection efforts as Seller, in its discretion, may elect. All payments received by Purchaser after the Collection Period for which Seller Group has reimbursed Purchaser, shall promptly be paid to Seller. To the extent Purchaser collects Seller's Accounts Receivable in excess of the Net Accounts Receivable shown on the Closing Date Balance Sheet, Purchaser shall remit that excess to Seller.
Accounts Receivable Adjustments. In accordance with Miami-Dade County Implementing Order 3-9, Accounts Receivable Adjustments, if money is owed by Management to the County, whether under this Contract or for any other purpose, the County reserves the right to retain such amount from payment due by County to Management under this Contract. Such retained amount shall be applied to the amount owed by Management to the County. Management shall have no further claim to such retained amounts which shall be deemed full accord and satisfaction of the amount due by the County to Management for the applicable payment due herein.
Accounts Receivable Adjustments. It is important to know the proper A/R adjustments to be made and the purpose of each. Following are the various adjustments, the intent of each and resulting activity codes.
Accounts Receivable Adjustments. Purchaser shall use its best efforts to collect the Accounts Receivable during a period of 180 days from the Closing Date (the “Collection Period”). All amounts collected from customers shall be first applied to the oldest receivable of such customer unless the payment identifies the invoice for which payment is being made or disputes the validity or amount of any receivable due to Seller. If the amount of Account Receivables collected by the Purchaser during the Collection Period is less than the amount thereof reflected as Accounts Receivable (net of reserves for uncollectible accounts) on the Closing Date Net Working Capital Statement, the Purchaser shall provide to Seller a report certified as correct by an Officer of Purchaser, within 210 days after Closing, of all uncollected accounts. To the extent that the Accounts Receivable collected by Seller are less than the Accounts Receivable (net of reserves) shown on the Closing Date Working Capital Statement, such difference shall be paid by Seller Group to Purchaser on or before April 15, 2009. To the extent that the Accounts Receivable collected by Seller are greater than the Accounts Receivable (net of reserves) shown on the Closing Date Working Capital Statement, such difference shall be paid by Purchaser to Seller on or before April 15, 2009.
Accounts Receivable Adjustments. Returns A customer notifies CA that a purchased product is incorrect, defective, damaged, or otherwise unusable and needs to be returned. The CA fills out a “Return Materials Authorization” (RMA) in M2K, and a sequential RMA number is automatically assigned by the system. The RMA requires the following information: customer, part number, quantity, and any description or comments required to describe the reason for the RMA. After the RMA has been entered into M2K, an ECA is sent to the following staff: Receiving Clerk, Supply Chain Manager, Production Manager, Director of Quality, and the Administrative Assistant. All RMA’s require Supply Chain Manager approval (REV 38). All returned goods must have an RMA present in the system to be received and processed (REV 41). If a replacement or rework is required the appropriate sales order activity takes place. Material Review Board (MRB) dispositions goods returned by customers issuing a Discrepancy Report (DR) as documentation. An independent carrier (e.g. UPS) delivers the item to the receiving department. Receiving notifies QA of the RMA delivery. MRB physically verifies the part number and quantity of the returned goods, and then inspects the goods to determine disposition (e.g. scrap, rework, resale) (REV 42). Once the quantity and part number are verified, the goods are processed in M2K by the CA against the RMA, which triggers the creation of a credit memo and populates the appropriate fields (REV 43). If the item is defective or otherwise unable to be sold, it is segregated and disposed of in the system by a member of production control. MRB forwards the DR with the findings of the inspection, to the Sales Department for approval by the Supply Chain Manager and records retention with the original copy of the claim form, and the credit memo (REV 44). Credits processing Billing adjustments can be initiated by customers and/or internal personnel. The CA responsible for the specific customer fills out a “Billing Adjustment Form.” This form details the customer, the type of adjustment, and any description or comments required to describe the reason for the adjustment. Adjustments of this type are reviewed and approved by Supply Chain Manager (REV 45). If the claim requires authorization, it is forwarded to the appropriate person, who reviews the form and signs off as approved. Once authorized, the form is forwarded to the Administrative Assistant who enters the customer information into M2K, and prints the cred...
Accounts Receivable Adjustments. The parties agree that Purchaser expects to receive four million dollars ($4,000,000) in cash payments from Distributors between the closing date and the last day of the third fiscal quarter 2001, which ends September 30, 2001, such payments to be in compensation for the distribution of products included in the Purchased Assets and listed on Schedule 2.1(d). The parties additionally agree that Purchaser expects to receive five million dollars ($5,000,000) in cash payments from Distributors between October 1, 2001 and the last day of the fourth fiscal quarter, which ends on December 31, 2001, for distribution of products included in the Purchased Assets and listed on Schedule 2.1(d). In the event that the actual cash payments in either the third or fourth fiscal quarter, which are attributable to distribution of these Purchased Assets, exceeds the expected cash payments, Purchaser shall pay 50% of the amount above the expected amount to Seller within 15 days of the end of each fiscal quarter. Seller shall have the right to receive reports with respect to these payments reasonably satisfactory to Seller and the right to audit such reports pursuant to the procedure and within the time periods described in Section 3.2(a) and 3.2(b).
