Accounts Receivable/Payable. The accounts receivable of the Company relating to the ownership and operation of the Practice reflected on the Company Balance Sheet, to the extent uncollected on the date hereof, are, and the accounts receivable of the Company relating to the ownership and operation of the Practice to be reflected on the books of the Company on the Closing Date (the "Accounts Receivable") will be, valid, existing and collectible within six months from the Closing Date (taking into consideration the allowance for doubtful accounts set forth in the Financial Statements) using reasonably diligent collection methods taking into account the size and nature of the receivable, and represent amounts due for goods sold and delivered or services performed. There are not, and on the date of Closing there will not be, any refunds, discounts, set-offs, defenses, counterclaims or other adjustments payable or assessable with respect to the Accounts Receivable. The Company has collected Accounts Receivable only in the ordinary course and has not changed collection procedures or methods nor accelerated the pace of such collection efforts in anticipation of the transactions contemplated in this Agreement. The Company has paid accounts payable in the ordinary course and has not changed payment procedures or methods nor delayed the timing of such payments in anticipation of the transactions contemplated in this Agreement.
Accounts Receivable/Payable. Except as set forth in the Company Financial Statements and Section 2.12 of the Company Disclosure Schedule, the Company has no accounts receivable, unbilled invoices and other debts. There have been no material adverse changes the date of the Company Financial Statements in any accounts receivable or other debts due the Company or the allowances with respect thereto or accounts payable of the Company from that reflected in the Financial Statements.
Accounts Receivable/Payable. The Balance Sheet reflects the amount, as of the Balance Sheet Date of the Company's (i) accounts receivable, net of allowances for uncollectible and doubtful amounts ("Accounts Receivable"), and (ii) current accounts payable and current accrued liabilities (other than the current portion of long-term debt) ("Accounts Payable"). Exhibit 2.16 contains a true and accurate (i) list of all Accounts Receivable, and (ii) list of all Accounts Payable and (iii) statement of the working capital ("Working Capital") of the Company as of the Balance Sheet Date. The Company maintains its accounting records in sufficient detail to substantiate the accounts receivable reflected on the Balance Sheet and has given and will give to Premier full and complete access to those records, including the right to make copies therefrom. Since the Balance Sheet Date, the Company has not changed any principle or practice with respect to the recordation of accounts receivable or the calculation of reserves therefor, or any material collection, discount or write-off policy or procedure. Accounts Receivable are not recorded in amounts estimated to be net of contractual allowances related to third-party payor arrangements. The Company is in substantial compliance with the terms and conditions of such third-party payor arrangements, and the reserves established by the Company are adequate to cover any liability resulting from lack of compliance.
Accounts Receivable/Payable. The Balance Sheet reflects the amount, as of the Balance Sheet Date and determined in conformity with GAAP and the past practices employed by Seller, of the Division's (i) accounts receivable, net of allowances for uncollectible and doubtful amounts ("Accounts Receivable") and (ii) current accounts payable and current accrued liabilities (other than the current portion of long-term debt) ("Accounts Payable"). Exhibit 3.16 contains a true and accurate (i) summary list of all Accounts Receivable, (ii) summary list of all Accounts Payable and (iii) statement of the working capital of the Division as of the Balance Sheet Date. The Division maintains its accounting records in sufficient detail to substantiate the accounts receivable reflected on the Balance Sheet and has given and will give to Purchaser full and complete access to those records, including the right to make copies therefrom. Since the Balance Sheet Date, neither Seller nor the Division has changed any principle or practice with respect to the recordation of accounts receivable or the calculation of reserves therefor, or any material collection, discount or write-off policy or procedure. Accounts Receivable are recorded in amounts estimated to be net of contractual allowances related to third-party payor arrangements. Seller is in substantial compliance with the terms and conditions of such third-party payor arrangements, and the reserves established by Seller are adequate to cover any liability resulting from lack of compliance.
Accounts Receivable/Payable. All of the accounts receivable and accounts payable reflected on the most recent Frontier Financial Statements or arising thereafter as reflected on the books of Frontier have arisen only from bona fide transactions in the ordinary course of business, represent valid obligations owing to or from, as the case may be, Frontier and have been accrued and recorded in accordance with GAAP. Schedule 4.06 sets forth as of October 31, 1997, the accounts receivable and accounts payable balances of Frontier, together with an aging schedule of such balances as of such date.
Accounts Receivable/Payable. Except as set forth in Section 2.13 of the Company Disclosure Schedule, since December 31, 2006 the Company has no accounts receivable, unbilled invoices and other debts. There have been no material adverse changes since September 30, 2006 in any accounts receivable or other debts due the Company or the allowances with respect thereto or accounts payable of the Company from that reflected in the Financial Statements.
Accounts Receivable/Payable. The Balance Sheet reflects the amount, as of the Balance Sheet Date and determined in conformity with generally accepted accounting principles and the past practices employed by Seller of the Seller s (i) accounts receivable, net of allowances for uncollectible and doubtful amounts ( Accounts Receivable ) and (ii) current accounts payable and current accrued liabilities (other than the current portion of long-term debt) ( Accounts Payable ). Seller has provided PRG and PRG Sub with a true and accurate (i) list of all Accounts Receivable, (ii) list of all Accounts Payable and (iii) statement of the working capital ( Working Capital ) of the Seller as of the Balance Sheet Date. The Seller maintains its accounting records in sufficient detail to substantiate the accounts receivable reflected on the Balance Sheet and has given and will give to PRG Sub full and complete access to those records, including the right to make copies therefrom. Since the Balance Sheet Date, the Seller has not changed any principle or practice with respect to the recordation of accounts receivable or the calculation of reserves therefor, or any material collection, discount or write- off policy or procedure. Accounts Receivable are recorded in amounts estimated to be net of contractual allowances related to third-party payor arrangements. The Seller is in substantial compliance with the terms and conditions of such third-party payor arrangements, and the reserves established by the Seller are adequate to cover any liability r e s u lting from lack of compliance. Following Closing, the administration of the collection of Accounts Receivable and the payment of Accounts Payable shall be as set forth in Section 7.3(c) of the Service Agreement.
Accounts Receivable/Payable a. The accounts receivable of the Acquired Companies and the Subsidiaries relating to the operation of the Acquired Companies reflected on the Acquired Companies Balance Sheet, to the extent uncollected on the date hereof, are, and the accounts receivable of the Acquired Companies and the Subsidiaries relating to the operation of the Acquired Companies to be reflected on the books of the Acquired Companies on the Closing Date (the "Accounts Receivable") will be, valid, existing and collectible (taking into consideration the allowance for doubtful accounts set forth in the Financial Statements) using reasonably diligent collection methods taking into account the size and nature of the receivable, and represent amounts due for goods sold and delivered or services performed. The Acquired Companies are in compliance with all third party payor and eye care professional arrangements relating to the Accounts Receivable. There are not, and on the date of Closing there will not be, any refunds, discounts, set-offs, defenses, counterclaims or other adjustments payable or assessable with respect to the Accounts Receivable. The Acquired Companies and the Subsidiaries have collected Accounts Receivable only in the ordinary course and has not changed collection procedures or methods nor accelerated the pace of such collection efforts in anticipation of the transactions contemplated in this Agreement. The Acquired Companies and the Subsidiaries have paid accounts payable in the ordinary course and has not changed payment procedures or methods nor delayed the timing of such payments in anticipation of the transactions contemplated in this Agreement.
Accounts Receivable/Payable. The Balance Sheet reflects the amount, as of the Balance Sheet Date, of the Company's (i) accounts receivable, net of allowances for uncollectible and doubtful amounts ("Accounts Receivable"), and (ii) current accounts payable and current accrued liabilities (other than the current portion of long-term debt) ("Accounts Payable"). Exhibit 2.16 contains a true and accurate (i) list of all Accounts Receivable, and (ii) list of all Accounts Payable and (iii) statement of the working capital ("Working Capital") of the Company as of the Balance Sheet Date. Since the Balance Sheet Date, the Company has not changed any principle or practice with respect to the recordation of accounts receivable or the calculation of reserves therefor, or any material collection, discount or write-off policy or procedure. Accounts Receivable are not recorded in amounts estimated to be net of contractual allowances related to third-party payor arrangements. The Company is in substantial compliance with the terms and conditions of such third-party payor arrangements, and the reserves established by the Company are adequate to cover any liability resulting from lack of compliance.
Accounts Receivable/Payable. A. This sale includes all accounts receivable of Seller for room, food and beverage and other guest charges incurred at the Properties as of the Closing Date, as shown on Exhibit G-1 hereof (the "Accounts Receivable"). If Seller receives or collects any Accounts Receivable after the Closing Date, Seller shall hold same in trust for the benefit of Purchaser and shall deliver same promptly to Purchaser upon receipt thereof.
