Common use of Cash Accounts Receivable, Advertising and Programming Revenues Clause in Contracts

Cash Accounts Receivable, Advertising and Programming Revenues. As of the Effective Date, the Licensee will turn over to the Programmer, for collection only, the accounts receivable of the Station owing to the Licensee as of the close of business on the day before the Effective Date. A schedule of such accounts receivable will be delivered by the Licensee to the Programmer on the Effective Date or as soon thereafter as possible. The Programmer agrees to use commercially reasonable efforts in the ordinary course of business (but without responsibility to institute legal or collection proceedings) to collect such accounts receivable during the 120-day period following the Effective Date, and will remit all payments received on such accounts at the end of this 120-day period, together with an accounting of all payments received within such period. The Programmer shall have the sole right to collect such accounts receivable during such 120-day period. In the event the Programmer receives monies during the 120-day period following the Effective Date from an advertiser who, after the Effective Date, is advertising on the Station, and that advertiser was included among the accounts receivable as of the Effective Date, the Programmer shall apply said monies to the oldest outstanding balance due on the particular account, except in the case of a "disputed" account receivable. For purposes of this Section 9.2, a "disputed" account receivable means one which the account debtor refuses to pay because he asserts that the money is not owed or the amount is incorrect. In the case of such a disputed account, the Programmer shall immediately return the account to the Licensee prior to expiration of the 120-day period following the Effective Date. If the Programmer returns a disputed account to the Licensee, the Programmer shall have no further responsibility for its collection and may accept payment from the account debtor for advertising carried on the Station after the Effective Date. At the end of the 120-day period following the Effective Date, the Programmer will turn back to the Licensee all of the accounts receivable of the Station as of the Effective Date owing to the Licensee which have not yet been collected, and the Programmer will thereafter have no further responsibility with respect to the collection of such receivables. During the 120-day period following the Effective Date, the Programmer shall afford the Licensee reasonable access to the accounts receivable "aging list." The Licensee acknowledges and agrees that the Programmer is acting as collection agent hereunder for the sole benefit of the Licensee and that Programmer has accepted such responsibility for the accommodation of the Licensee. The Programmer shall not have any duty to inquire as to the form, manner of execution or validity of any item, document, instrument or notice deposited, received or delivered in connection with such collection efforts, nor shall the Programmer have any duty to inquire as to the identity, authority or rights of the persons who executed the same. The Licensee shall indemnify Programmer and hold it harmless from and against any judgments, expenses (including attorney's fees) costs or liabilities which the Programmer may incur or sustain as a result of or by reason of such collection efforts, except in the event of Programmer's gross negligence or willful misconduct. Programmer's obligation to collect and remit Accounts Receivable hereunder shall continue, at the option of Licensee, in the event of termination of this Agreement pursuant to Section 11.5 hereof.

Cash Accounts Receivable, Advertising and Programming Revenues. As of the Effective Date, the Licensee will turn over to the Programmer, for collection only, the accounts receivable of the Station owing to the Licensee as of the close of business on the day before the Effective Date. A schedule of such accounts receivable will be delivered by the Licensee to the Programmer on the Effective Date or as soon thereafter as possible. The Programmer agrees to use commercially reasonable efforts in the ordinary course of business (but without responsibility to institute legal or collection proceedings) to collect such accounts receivable during the 120-day period following the Effective Date, and will remit all payments received on such accounts at the end of during this 120-day period within ten (10) days of the close of each thirty-day period, together with an accounting of all payments received within such period. The Programmer shall have the sole right to collect such accounts receivable during such one hundred twenty (120-) day period. In the event the Programmer receives receive monies during the 120-day period following the Effective Date from an advertiser who, after the Effective Date, is advertising on the Station, and that advertiser was included among the accounts receivable as of the Effective Date, the Programmer shall apply said monies to the oldest outstanding balance due on the particular account, except in the case of a "disputed" account receivable. For purposes of this Section 9.26(b), a "disputed" account receivable means one which the account debtor refuses to pay because he asserts that the money is not owed or the amount is incorrect. In the case of such a disputed account, the Programmer shall immediately return the account to the Licensee prior to expiration of the 120-day period following the Effective Date. If the Programmer returns a disputed account to the Licensee, the Programmer shall have no further responsibility for its collection and may accept payment from the account debtor for advertising carried on the Station after the Effective Date. At the end of the 120-day period following the Effective Date, the Programmer will turn back to the Licensee all of the accounts receivable of the Station as of the Effective Date owing to the Licensee which have not yet been collected, and the Programmer will thereafter have no further responsibility with respect to the collection of such receivables. During the 120-day period following the Effective Date, the Programmer shall afford the Licensee reasonable access to the accounts receivable "aging list." The Licensee acknowledges and agrees that the Programmer is acting as collection agent hereunder for the sole benefit of the Licensee and that Programmer has accepted such responsibility for the accommodation of the Licensee. The Programmer shall not have any duty to inquire as to the form, manner of execution or validity of any item, document, instrument or notice deposited, received or delivered in connection with such collection efforts, nor shall the Programmer have any duty to inquire as to the identity, authority or rights of the persons who executed the same. The Licensee shall indemnify Programmer and hold it harmless from and against any judgments, expenses (including attorney's fees) costs or liabilities which the Programmer may incur or sustain as a result of or by reason of such collection efforts, except in the event of Programmer's gross negligence or willful misconduct. Programmer's obligation to collect and remit Accounts Receivable hereunder shall continue, at the option of Licensee, in the event of termination of this Agreement pursuant to Section 11.5 hereof.