Book Debts. 4.1 Subject to the provisions of the Finance Documents, an Obligor shall be free to deal with book debts (that are not the subject of any other specific form of security under the Transaction Security Documents) (“General Book Debts”) in the ordinary course of its business (to the extent permitted under the Finance Documents) until the occurrence of an Enforcement Event, except that all book debts and moneys received shall be paid into one or more accounts that are subject to Transaction Security (or, where any Finance Document requires such book debts and/or moneys to be paid into any specific account that is subject to Transaction Security, into that account).
4.2 No notice of Transaction Security over General Book Debts shall be required to be served on the debtors owing such General Book Debts until the occurrence of an Enforcement Event.
4.3 If required under local law, Transaction Security over trade receivables will be registered subject to the general principles set out in these Security Principles.
Book Debts. (i) No part of the amount shown in the books of account of any Group Company in respect of debtors is represented by debts which are more than six months overdue for payment or by debts in respect of arrangements made otherwise than in the ordinary course of any such Group Company’s business.
(ii) No debt has been released by any Group Company on terms that the debtor paid less than the book value of his debt and no debt owing to any such Group Company has been deferred, subordinated or written off or has proved to any extent to be irrecoverable.
Book Debts all present and future book and other debts, revenues, receivables and monetary or other claims both present and future due or owing or which may become due or owing to the Company, and the benefit of all security, guarantees and other rights of any nature enjoyed or held by the Company in relation to any of them.
Book Debts. We agree that if any records of accounts receivable used by you at the premises for the purpose of the business should sustain damage during the period of insurance and in consequence income is lost resulting from your inability to trace or establish their outstanding debit balances then the insurer will indemnify you for the loss of income resulting from your inability to trace or establish their outstanding debit balances as a direct result of damage by any insured peril provided that:
a) our liability under this section shall not exceed the sum insured for book debts stated in the schedule;
b) if at the time of any damage the sum insured for book debts is less than the actual balances, the amount payable by us will be proportionately reduced. In addition, we will pay expenses incurred with our consent in tracing and establishing customers’ debit balances after the damage. After payment of any claim hereunder, all amounts recovered by you on accounts receivable for which you have been indemnified under this section will belong and be paid immediately to us by you up to the total amount of loss paid by us.
Book Debts. The Grantor must pay all money generated by its book debts into the account, if any, specified by the Secured Party from time to time. In addition, the Grantor must deal with that money in accordance with the directions, if any, given by the Secured Party.
Book Debts. (A) The Vendor has no reason to believe that any debt in excess of (pound)250,000 owing to any Company or, in relation to the US Business, to any member of the Vendor's Group at the date of this Agreement (other than the debts included in the Accounts) will not in the ordinary course of collection realise its nominal amount plus any accrued interest.
(B) Each debt in excess of (pound)250,000 included in the Accounts has realised or, to the extent not realised at the Completion Date, the Vendor has no reason to believe that any such debt will not realise, in the ordinary course of collection, its nominal amount plus any accrued interest less any provisions for bad and doubtful debts included in the Accounts.
Book Debts. The debts owing to the Company included in the Accounts have realised or will realise, in the ordinary course of collection, their nominal amounts plus any accrued interest less any provisions for bad and doubtful debts included in the Accounts.
Book Debts. (a) The debts included in the Accounts have realised or will realise, in the ordinary course of collection, their nominal amounts plus any costs of collection and any accrued interest less any provisions for bad and doubtful debts included in the Accounts.
(b) None of the Sellers has any reason to believe that any debt owing to the Company at the date of this agreement (other than the debts included in the Accounts) will not in the ordinary course of collection realise its nominal amount plus any costs of collection and any accrued interest.
Book Debts. The insurance under this item is limited to the loss sustained by The Insured in respect of outstanding debit balances directly due to Insured Damage and the amount payable as indemnity under this item in respect of any one occurrence of Insured Damage shall not exceed:
Book Debts. No part of the amounts included in the Accounts or subsequently recorded in the books of the Company as owing by any debtor is or shall at the Completion Date be overdue by more than 12 weeks or has been released on terms that any debtor pays less than the full book value of his debt or has been written off or has proved to any extent to be irrecoverable or is now regarded by the Company and its subsidiaries as irrecoverable in whole or in part.
