Additional Information Regarding Accounts Payable Processing Clause Samples

Additional Information Regarding Accounts Payable Processing. The processing of any accounts payable pursuant to this Section 3.7 shall be performed utilizing bank accounts of Specialty funded by Specialty, it being understood that Conexant shall have no obligation to make any payments or advance any funds with respect to such accounts payable processing. For accounts payable payments approved by Specialty for payment by Conexant pursuant to this Section 3.7, Specialty shall provide Conexant with all necessary authorizations. Specialty also shall supply checks, as directed by Conexant, containing Specialty's name and bank account number thereon for purposes of making such accounts payable payments to be made by check. Upon completion of weekly processing of accounts payable and direct disbursement transaction and determination of the cash funding requirement, Conexant shall provide Specialty with the appropriate funding requirements information. Once funding requirement information is furnished to Specialty by Conexant, Specialty shall confirm that sufficient uncommitted funds remain in the relevant accounts payable account, or ensure that sufficient funds are promptly transferred into the relevant accounts payable account no later than 24 hours prior to each projected disbursement. To the extent Conexant and Specialty agree that Conexant shall make payments for accounts payable on behalf of Specialty for administrative convenience, Specialty shall reimburse Conexant therefore by wire transfer of immediately available funds prior to mailing of such payments by Conexant.