Accounts Receivable Collections. Following the Closing, the Seller shall permit the Buyer to collect, in the name of the Seller, all accounts receivable included in the Acquired Assets and to endorse with the name of the Seller for deposit in the Buyer’s account any checks or drafts received in payment thereof. The Seller shall promptly deliver to the Buyer any cash, checks or other property that the Seller may receive after the Closing in respect of any accounts receivable or other assets constituting part of the Acquired Assets.
Accounts Receivable Collections. After the Closing, the Company shall permit the Buyer to collect, in the name of the Company, all Accounts Receivable and to endorse with the name of the Company for deposit in the Buyer’s account any checks or drafts received in payment thereof. The Company shall promptly deliver to the Buyer any cash, checks or other property that the Company may receive after the Closing in respect of any Accounts Receivable or other assets constituting part of the Acquired Assets.
Accounts Receivable Collections. The Sellers shall promptly deliver to the Buyer any cash, checks or other property they may receive after the Closing in respect of the Transferred Accounts Receivable, including any credit card receipts.
Accounts Receivable Collections. (a) B will continue to collect outstanding commercial accounts receivable in accordance with B's current collection practices. All related collection charges approved by C and telephone charges will be for the account of C.
(b) B will mail account statements to customers at the end of each month. Postage will be paid by C.
(c) B will have authority to assign accounts to third parties for collection for the account of C when C deems it necessary.
(d) B will not be responsible for any uncollected accounts at the end of the transition period.
(e) B will provide C with a copy of its standard detailed accounts receivable aging and a listing of identified problem accounts no later than five (5) business days after the close of each month.
Accounts Receivable Collections. Seller shall be responsible for billing and shall have the right to collect and keep proceeds with respect to Spinal Products sales orders that are filled by Seller prior to the Closing and for the payment of all Manufacturing Costs and other costs related to such Spinal Products sales filled by Seller through the Closing. The parties further understand and agree that any and all proceeds received from Customers with respect to orders filled by Buyer after the Closing shall remain the property of Buyer, regardless of whether such orders were placed before the Closing.
Accounts Receivable Collections. (a) The Borrower shall not permit the average daily amount collected by the Borrower and its Subsidiaries in respect of Accounts Receivable for each Collection Day during any consecutive three-month period (the "CURRENT THREE-MONTH PERIOD") to be less than the Applicable Three-Month Percentage (as hereinafter defined) of the average daily Adjusted Net Revenues for each Collection Day during the consecutive three-month period immediately preceding the commencement of such Current Three-Month Period. For purposes of this Section 8.17(a), the term "APPLICABLE THREE-MONTH PERCENTAGE" shall mean (i) for any Current Three-Month Period ending during the fourth fiscal quarter of 2000, 87%, and (ii) for any Current Three-Month Period ending during the first fiscal quarter of 2001 or thereafter, 90%.
Accounts Receivable Collections. (a) Within thirty days of eighteen months after the Closing Date, the parties will determine whether (a) the actual collections of the accounts receivable existing on the Closing Date (the "Closing Accounts Receivable") exceeded or were less than the Closing Accounts Receivable less the allowance for doubtful accounts therefor (the "Net Receivables"). If actual collections of Closing Accounts Receivable during such eighteen month period (i) exceeded Net Receivables, Purchaser shall promptly pay Seller the difference or (ii) are less than Net Receivables, Seller shall promptly pay Purchaser the difference. The payment provided for in the preceding sentence shall be made with interest at the prime rate (in the case of clause (i), measured from dates of such excess collections to the date of payment hereunder and in the case of clause (ii) from the dates such amounts were due to the date of payment hereunder). Within 30 days after the end of such eighteen month period, the Purchaser shall assign to the Seller or its nominee Closing Accounts Receivable in the amount paid by the Seller pursuant to this Section 2.08 with such Closing Accounts Receivable or a portion thereof as specified by the Seller which equals such amount. For the purposes of this Section 2.08(a), the allowance for doubtful accounts referred to above shall be applied first to the oldest unpaid Closing Accounts Receivable, and therefore (y) the interest paid on the Net Receivables shall be based upon those unpaid Closing Accounts Receivable remaining after such application and (z) for the purposes of the immediately preceding sentence, the Closing Accounts Receivable assigned to Seller shall be from among the list of unpaid Closing Accounts Receivable remaining after such application.
(b) Except when exercising rights with respect to a Bankrupt Obligor, Purchaser shall not compromise, waive any rights with respect to, or settle any such Closing Accounts Receivable, without Seller's written consent, which shall not be unreasonably withheld or delayed. Purchaser agrees to use efforts reasonably consistent with its general collection efforts to collect the Closing Accounts Receivable in the ordinary course of business, provided that Purchaser shall not be obligated to institute any litigation, employ counsel or any collection agency, or expend (other than incidental expenses such as phone calls and follow up letters and the costs reasonably related to employees conducting such activities) any fun...
Accounts Receivable Collections. From and after the Closing, Buyer will remit to Seller all accounts receivable received for services rendered up to the Closing Date. Seller shall promptly (but no later than thirty days upon receipt) pay all amounts owed as accounts payable as of the Closing Date.
Accounts Receivable Collections. After the Closing, Sellers shall permit, and hereby authorize, Purchasers to collect, in the name of Sellers, all Accounts Receivable constituting part of the Acquired Assets and to endorse with the name of any applicable Seller for deposit in any Purchaser's account any checks or drafts received in payment thereof. Sellers shall promptly deliver to Purchasers any cash, checks or other property that they may receive after the Closing in respect of any Accounts Receivable or other asset constituting part of the Acquired Assets. Sellers shall promptly deliver to Purchasers any cash, proceeds or refunds that they may receive after the Closing in respect of insurance policies to the extent related solely to the Acquired Assets.
Accounts Receivable Collections. The Buyers shall (a) promptly deliver to Sellers, any mail or other communication received by it after the Closing Date, (b) promptly wire transfer in immediately available funds to the Sellers, any cash, electronic credit or deposit received by the Buyers and (c) promptly forward to the Sellers, any checks or other instruments of payment that it receives, in each case relating to the Excluded Assets or Excluded Liabilities except for the avoidance of the doubt the parties agree that the Buyers need not remit to the Sellers cash and cash equivalents or other collections generated from operation of the Acquired Assets and the Transition Period Contracts after the Closing Date and the Buyers’ Fraction of Net Delinquent Accounts Receivable Collections. Notwithstanding anything to the contrary herein, cash and cash equivalents and other collections generated from the operation of the Acquired Assets and the Transition Period Contracts after the Closing Date shall be for the account of the Buyers and not the Sellers.
