Common use of CLOSING ADJUSTMENTS OF NET ACCOUNTS RECEIVABLE CONSIDERATION Clause in Contracts

CLOSING ADJUSTMENTS OF NET ACCOUNTS RECEIVABLE CONSIDERATION. On the six month anniversary of the Closing Date, AMP will review the estimate of net accounts receivable. If AMP has collected more than the estimated accounts receivable, such amount will be paid to the Owners according to their percentage ownership in the Company as of the Closing Date. If AMP has collected less than the estimate of net accounts receivable, the Owners will be jointly and severally liable and will repay the deficit amount. All amounts under this Section 2.3(b) shall be payable in cash within sixty (60) days of written notice sent by AMP to the Owners. The Owners agree that AMP may offset the accounts receivable deficit against any other amounts owed by AMP to Owners under any other agreements.