Accounts Receivable Collections. After the Closing, the Seller shall permit the Buyer to collect, in the name of the Seller all Accounts Receivable. 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. 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) 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.
Accounts Receivable Collections. Seller, solely for the purpose of enabling Buyer to collect the Receivables generated from services provided by Buyer after the Effective Date, not less than forty-five (45) days following Closing Buyer shall grant signatory power and the sole power to issue instructions relating to those certain bank accounts set forth on Exhibit A attached hereto (collectively, the “Deposit Accounts”) into which deposits for any Receivables and other rights of payment for goods and services provided by the Facility are made and all outstanding checks and deposits in transit relating to Receivables and other rights of payment for goods and services provided by the Facility shall be deposited. Seller shall ensure that Seller, and its employees, agents or affiliates shall not have signatory power or the power to issue instructions relating to the Deposit Accounts following Closing. Seller shall execute and deliver any additional documents or agreements, including but not limited to any additional documents or agreements required by any bank or financial institution necessary to effectuate this provision. Seller agrees to cause all payments relating to any Receivables and payments by Medicare, Medicaid and other state and federal healthcare programs to be deposited promptly into the Deposit Accounts. To the extent any payments are made with respect to any Receivables for the Facility by the use of any electronic funds transfer or wire transfer method of payment currently in place with Medicare, any Fiscal Intermediary, Medicaid or other payor on account of services rendered at the Facility, Seller agrees to cause all such payments to be made into the Deposit Accounts, and shall provide Buyer with any account codes or passwords reasonably necessary for Buyer to access all data and information related to such funds transfers. Notwithstanding anything herein to the contrary, all rights granted to Buyer hereunder are expressly subject to Section 2.14, including without limitation Section 2.14(e), of the APA snd Section 2.7 hereinafter.
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 8.19A, the term "
Accounts Receivable Collections. After the Closing, the Company shall permit, and hereby authorizes, Buyer to collect, in the name of the Company, and shall not attempt to collect, Accounts Receivable and to endorse with the name of the Company for deposit in Xxxxx's account any checks or drafts received in payment thereof. The Company shall promptly deliver to Buyer any cash, checks or other property that it may receive after the Closing in respect of any Accounts Receivable or other asset constituting part of the Purchased Assets. Buyer shall use its commercially reasonable efforts consistent with Buyer's ordinary business practices when engaging in such collection efforts.
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. After the Closing, Seller shall promptly (and in any event within five Business Days during the first week following the Closing and thereafter in any event within three Business Days) turn over all checks, drafts, funds, monies and other cash proceeds, including those received by wire transfer, relating to the payment or collection of accounts receivable comprising part of the Business Assets (the “Accounts Receivable Collections”), including, but not limited to, those Accounts Receivable Collections received at, in or through the bank accounts listed on Schedule 5.2.4 (the “Seller Accounts Receivable Collection Accounts”). Seller hereby grants Buyer an irrevocable power of attorney to endorse such checks, drafts and other matters and any check, draft or other matter arising after the Closing relating to Buyer’s business issued in the name of Seller. Seller shall also provide to Buyer, upon request, copies of any and all books, records, account statements, account reconciliations and other documents relating to the Accounts Receivable Collections, whether through Seller Accounts Receivable Collection Accounts or otherwise.
