Allocation of Accounts Receivable Sample Clauses

Allocation of Accounts Receivable. All payments received shall be applied first to the invoice to which it relates; if however, it is unclear which invoice the payment relates to, BTL shall seek to clarify with the customer the payments intended beneficiary. If BTL is unable to reasonably determine the proper invoice to allocate received payments, such payments shall be applied first to the oldest outstanding accounts receivable from such customer regardless of when incurred, provided any credits on an account must be applied to open invoices prior to the application of such cash receipts; and provided that such payments shall not be applied to contested payments or invoices. BTL will use best efforts to assure that customer complies with NASI collection policy of applying payments to oldest invoices first.
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Allocation of Accounts Receivable. And Pre-Paid Accounts. All accounts receivable owed by Subscribers to the Seller that are due prior to the Closing and all amounts that were prepaid by Subscribers to the Seller in the ordinary course of business prior to the Closing will remain the property of the Seller. All amounts due from any Subscriber on or after the Closing will be the property of the Buyer.
Allocation of Accounts Receivable. As of the Closing Date, Lattice shall be entitled to collect all invoices sent to the customers and clients of its Government Services Division for work done on the Contracts prior to the Closing Date. In addition, Lattice shall be paid by Blackwatch for all revenue collected by Blackwatch which was created by the employees and contractors working on the Contracts for which Lattice has paid these employees and contractors to create and which may not have been invoiced by Lattice prior to the Closing Date (and is invoiced by Blackwatch after the Closing Date). For all work done after the Closing Date for which Lattice has not paid its contractors and employees, Blackwatch shall be entitled to collect the revenue resulting from said work as long as Blackwatch pays the employees and contractors for the work which is to be invoiced by Blackwatch after the Closing Date.
Allocation of Accounts Receivable. The accounts receivable of the Facility shall be handled as set forth in the Operations Transfer Agreement.
Allocation of Accounts Receivable 

Related to Allocation of Accounts Receivable

  • Collection of Accounts Receivable Without limiting the generality of the provisions of Section 5.2, prior to the Closing, Seller and its Subsidiaries shall collect all Accounts Receivable in the ordinary course of business, consistent with Seller’s and its Subsidiaries’ past practice with respect to the Acquired Assets. From and after the Closing, Purchaser shall have the sole right and authority to collect for its own account all Accounts Receivable and to endorse with the name of Seller and its Subsidiaries any checks or drafts received with respect to any such Accounts Receivable. Seller agrees to deliver promptly to Purchaser all cash, checks or other property received directly or indirectly by Seller and its Subsidiaries with respect to such Accounts Receivable, including, without limitation, any amounts payable as interest thereon. From and after the Closing, unless specifically requested by Purchaser, Seller and its Subsidiaries shall not contact any current or former customer regarding any Accounts Receivable and shall refer promptly to Purchaser all inquiries with respect to any Accounts Receivable. If and to the extent requested by Purchaser, Seller and its Subsidiaries shall take such actions as may be reasonably necessary or advisable to facilitate the collection of any Accounts Receivable; it being agreed and understood that customers of the Acquired Business may also be customers of Seller’s and its Subsidiaries’ businesses with whom Seller and its Subsidiaries may have continuing business relationships. If not collected within 90 days from the Closing Date, Seller and its Subsidiaries shall pay promptly to Purchaser the amount of any uncollected Accounts Receivable in cash, and Purchaser shall assign and transfer back to Seller and its Subsidiaries each such Accounts Receivable for collection by Seller and its Subsidiaries; provided that Seller and its Subsidiaries shall not take any action in connection with such collection that would adversely affect Purchaser’s ongoing business relationship with the customer(s).

  • Accounts Receivable All accounts receivable of the Acquired Companies that are reflected on the Balance Sheet or the Interim Balance Sheet or on the accounting records of the Acquired Companies as of the Closing Date (collectively, the "Accounts Receivable") represent or will represent valid obligations arising from sales actually made or services actually performed in the Ordinary Course of Business. Unless paid prior to the Closing Date, the Accounts Receivable are or will be as of the Closing Date current and collectible net of the respective reserves shown on the Balance Sheet or the Interim Balance Sheet or on the accounting records of the Acquired Companies as of the Closing Date (which reserves are adequate and calculated consistent with past practice and, in the case of the reserve as of the Closing Date, will not represent a greater percentage of the Accounts Receivable as of the Closing Date than the reserve reflected in the Interim Balance Sheet represented of the Accounts Receivable reflected therein and will not represent a material adverse change in the composition of such Accounts Receivable in terms of aging). Subject to such reserves, each of the Accounts Receivable either has been or will be collected in full, without any set-off, within ninety days after the day on which it first becomes due and payable. There is no contest, claim, or right of set-off, other than returns in the Ordinary Course of Business, under any Contract with any obligor of an Accounts Receivable relating to the amount or validity of such Accounts Receivable. Part 3.8 of the Disclosure Letter contains a complete and accurate list of all Accounts Receivable as of the date of the Interim Balance Sheet, which list sets forth the aging of such Accounts Receivable.

  • Accounts Receivable; Accounts Payable All accounts receivable of Emergent and its Subsidiaries reflected in the Interim Financial Statements and all accounts receivable that are reflected on the books of Emergent and its Subsidiaries as of the Closing Date (net of allowances for doubtful accounts as reflected thereon and as determined in accordance with GAAP) are obligations arising from sales actually made or services actually performed in the Ordinary Course of Business arising in connection with bona fide arm’s length transactions with Persons who are not Affiliates of Emergent or any of its Subsidiaries, constitute valid undisputed claims and are not, by their terms, subject to defenses, set-offs or counterclaims. Neither Emergent nor any of its Subsidiaries has received written notice from or on behalf of any obligor of any such accounts receivable that such obligor is unwilling or unable to pay a material portion of such accounts receivable. All accounts payable and notes payable of Emergent and its Subsidiaries arose in bona fide arm’s length transactions in the Ordinary Course of Business and with Persons who are not Affiliates of Emergent or any of its Subsidiaries, and no such account payable or note payable is materially delinquent in its payment.

  • Collection of Accounts 43 5.4 Payments ............................................................................. 44 5.5 Authorization to Make Loans .......................................................... 44 5.6

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