Certain Accounts Payable Clause Samples
The 'Certain Accounts Payable' clause defines specific obligations regarding the payment of outstanding debts or invoices owed to suppliers or service providers. Typically, this clause outlines which accounts payable are recognized, the timing and method of payment, and any exceptions or exclusions that may apply. For example, it may specify that only accounts payable incurred in the ordinary course of business up to a certain date are included. The core function of this clause is to ensure clarity and agreement between parties about which payables are to be honored, thereby preventing disputes over financial liabilities.
Certain Accounts Payable. Concurrently with the delivery of the monthly financial statements required under Section 5.1(a), a monthly trial balance showing accounts payable with respect to Farm Products or subject to Growers’ Liens , in each case outstanding aged from invoice date as follows: 1 to 30 days, 31 to 60 days, 61 to 90 days and 91 days or more, accompanied by such supporting detail and documentation as shall be requested by Administrative Agent in its reasonable discretion.
Certain Accounts Payable. For each well whose reserves or projected cash flow are from time to time included in any Reserve Report, there shall be no outstanding accounts payable under or in connection with an authorization for expenditure that are associated with such well.
Certain Accounts Payable. Sellers shall cause each Subsidiary of Basic Parent and each Affiliate of either Seller that in each case is the payee of any accounts payable that are retained by Sellers as Excluded Liabilities (a) not to assert mechanics’ liens against customers of Basic Parent, Parent or any of their respective Subsidiaries in respect of such accounts payable or (b) if such Subsidiary or Affiliate has previously asserted any such mechanics’ liens against customers of Basic Parent, Parent or any of their respective Subsidiaries in respect of such accounts payable, to release and terminate any such liens promptly following the Closing and to promptly deliver notice of such release and termination to Buyer.
Certain Accounts Payable. For each proved developed producing well whose reserves or projected cash flow are from time to time included in any Reserve Report, there shall be no outstanding accounts payable under or in connection with an authorization for expenditure that are associated with such well.
(g) Section 9.1 of the Credit Agreement is hereby amended to delete the reference to “3.50” and to replace it with “3.00”.
Certain Accounts Payable. Notwithstanding Section 2.2(a)(ii), if any invoice, ▇▇▇▇ or other similar statement with respect to any account payable arising in the Ordinary Course of the Business prior to the Closing Date is received by the Purchaser more than 30 but fewer than 90 days following the Closing Date and is not taken into account in the determination of Modified Working Capital pursuant to Section 2.3(b), the Purchaser shall promptly remit such invoice, ▇▇▇▇ or statement to the Seller and the Seller shall, within five Business Days of such receipt, cause payment to be made to the issuer of such invoice, ▇▇▇▇ or statement, provided, that there shall be no corresponding asset attributable to such payable that solely benefits the Purchaser and such asset is either not reflected on the September 30, 2004 balance sheet included in the Seller Financial Statements or the Final MWC Statement.
Certain Accounts Payable. Sellers covenant and agree to pay all negative Seller Imbalances and accounts payable of each Company to the extent validly incurred and attributable to the period prior to the Effective Time (other than (i) accounts payable of the Companies for capital expenditures relating to the projects listed in Section 1.3(a)(i)(D) of the Disclosure Schedule, (ii) for any negative Company Imbalances, as the parties agree that such accounts payable and imbalances are subject to adjustment pursuant to Section 1.3, and (iii) for any negative Third Person Imbalances which are being retained by the Companies), including any accounts payable that were not included in the Final Settlement Statement as a result of a good faith dispute as provided in Section 1.3(a)(ii)(C), but which amounts are subsequently determined to be payable and any settlement payments due with respect to liquids product inventory that are subject to the adjustment set forth in Section 1.3(a)(i)(E).
Certain Accounts Payable. (a) On or before September 30, 2019, for each well whose reserves or projected cash flow are from time to time included in any Reserve Report, there shall be no accounts payable outstanding more than 90 days after the due date under or in connection with an authorization for expenditure that are associated with such well, other than those that are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been established.
(b) Commencing as of October 1, 2019 and thereafter, there shall be no accounts payable outstanding more than 90 days after the due date, other than accounts payable that are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been established.
(b) New Section 9.3
Certain Accounts Payable. Buyer and Seller agree to cooperate to instruct any vendor to re-invoice Buyer regarding any Accounts Payable related to goods and services that have not yet been delivered as of the Closing.