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and which date shall be December 30, 2020 for the November 30, 2020 deliveries), agings of Borrowers' Receivables and accounts payable, in scope and detail satisfactory to Agent, as of the last day of the preceding month; provided that, upon the occurrence of an Increased Reporting Event, and continuing on a weekly basis until the end of the corresponding Increased Reporting Period, Borrower Agent shall deliver such report weekly, on the second Business Day of each calendar week, as of the last Business Day of the preceding calendar week.", "hash": "d273c3be5f1cf20bbdd9d8b6bd83ee75", "id": 8}, {"size": 2, "snippet_links": [{"key": "day-of", "type": "clause", "offset": [43, 49]}, {"key": "the-receivables", "type": "clause", "offset": [92, 107]}, {"key": "the-us", "type": "clause", "offset": [111, 118]}, {"key": "the-cdn", "type": "clause", "offset": [134, 141]}, {"key": "accounts-payable", "type": "definition", "offset": [156, 172]}, {"key": "scope-and", "type": "clause", "offset": [177, 186]}, {"key": "the-agent", "type": "clause", "offset": [210, 219]}, {"key": "last-day", "type": "definition", "offset": [231, 239]}, {"key": "in-the-event-the", "type": "clause", "offset": [288, 304]}, {"key": "average-borrowing-availability", "type": "definition", "offset": [305, 335]}, {"key": "day-period", "type": "clause", "offset": [362, 372]}, {"key": "the-request", "type": "clause", "offset": [443, 454]}], "samples": [{"hash": "fbHfUsvMTVI", "uri": "/contracts/fbHfUsvMTVI#agings", "label": "Loan and Security Agreement (Grant Prideco Inc)", "score": 18.0, "published": true}], "snippet": "Monthly, not later than the tenth Business Day of each month, agings and reconciliations of the Receivables of the U.S. Borrowers and the Cdn. Borrower and accounts payable, in scope and detail satisfactory to the Agent, as of the last day of the preceding month; provided, however, that in the event the average borrowing availability for any consecutive sixty-day period is less than US$10,000,000, such agings and reconciliations shall, at the request of the Agent, be provided weekly.", "hash": "77524b25f324fd184020f90d7d92e0f0", "id": 9}, {"size": 2, "snippet_links": [{"key": "as-soon-as-possible", "type": "definition", "offset": [0, 19]}, {"key": "days-after", "type": "definition", "offset": [73, 83]}, {"key": "accounts-receivable-aging", "type": "clause", "offset": [110, 135]}, {"key": "accounts-payable-aging", "type": "clause", "offset": [143, 165]}, {"key": "principal-financial-officer", "type": "clause", "offset": [183, 210]}, {"key": "to-bank", "type": "definition", "offset": [255, 262]}], "samples": [{"hash": "gcisbZbEJWk", "uri": "/contracts/gcisbZbEJWk#agings", "label": "Line of Credit, Term Loan and Security Agreement (Orthovita Inc)", "score": 18.0, "published": true}], "snippet": "As soon as possible, but in any event not later than ------ fifteen (15) days after the end of each month, an accounts receivable aging and an accounts payable aging certified by the principal financial officer of Borrower in form reasonably satisfactory to Bank.", "hash": "d5268592e51f2c148b3acc86ea0db52b", "id": 10}], "next_curs": "Ck8SSWoVc35sYXdpbnNpZGVyY29udHJhY3RzcisLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ig9hZ2luZ3MjMDAwMDAwMGEMogECZW4YACAA", "clause": {"title": "Agings", "size": 52, "parents": [["affirmative-covenants", "Affirmative Covenants"], ["financial-reporting", "Financial Reporting"], ["covenants", "COVENANTS"], ["covenants-of-the-borrower", "Covenants of the Borrower"], ["financial-statements-and-other-reports", "Financial Statements and Other Reports"]], "children": [], "id": "agings", "related": [["reconciliations", "Reconciliations", "Reconciliations"], ["verifications", "Verifications", "Verifications"], ["collection-of-accounts-receivable", "Collection of Accounts Receivable", "Collection of Accounts Receivable"], ["verification-of-accounts", "Verification of Accounts", "Verification of Accounts"], ["statement-of-accounts", "Statement of Accounts", "Statement of Accounts"]], "related_snippets": [], "updated": "2026-05-10T05:39:37+00:00", "also_ask": ["What are the essential elements that must be included in an 'Agings' clause to ensure clarity and enforceability?", "How can the 'Agings' clause be strategically negotiated to benefit my client\u2019s position in payment or performance timelines?", "What are the most common risks or ambiguities in 'Agings' clauses that could lead to disputes or unenforceability?", "How do 'Agings' clauses in this agreement compare to industry standards or similar contracts?", "What factors do courts typically consider when interpreting or enforcing 'Agings' clauses in litigation?"], "drafting_tip": "Define 'Agings' precisely to avoid ambiguity; specify calculation methods to ensure consistency; clarify reporting obligations to facilitate compliance.", "explanation": "The \"Agings\" clause defines the process and requirements for tracking the duration or status of outstanding items, such as invoices or receivables, over time. Typically, this clause outlines how parties must categorize and report items based on how long they have been outstanding, often using time intervals like 30, 60, or 90 days. By establishing a standardized method for monitoring and reporting aged items, the clause helps ensure transparency in financial dealings and facilitates timely resolution of overdue obligations."}, "json": true, "cursor": ""}}