Designated Receivables Sample Clauses
The 'Designated Receivables' clause defines specific accounts receivable that are identified and set aside for particular purposes within a contract, such as collateral for a loan or as assets to be sold or assigned. In practice, this clause will list or describe the receivables that are subject to the agreement, ensuring that only those specified are affected by the contract’s terms. Its core function is to clearly identify which receivables are involved, thereby reducing ambiguity and preventing disputes over which assets are covered.
Designated Receivables. The Transferor shall designate certain Deferred Payment Plan Receivables to be treated as each having a Principal Receivable balance of zero on each Business Day on which the aggregate principal balance of Deferred Payment Plan Receivables exceeds 15% of the balance of the Aggregate Principal Receivables on such day (or for any such day in February, June and October, the limit shall be 20%), such that following such designation the Principal Receivables balance of all Deferred Payment Plan Receivables not so designated shall not exceed 15% of the balance of the Aggregate Principal Receivables on such day (or for any such day in February, June and October, the limit shall be 20%); provided, however, that this 15% limit (or for any such day in February, June and October, the limit shall be 20%) may be increased to 25% subject to satisfaction of the Rating Agency Condition. The Transferor shall designate certain Foreign Receivables to be treated as each having a Principal Receivable balance of zero on each Business Day on which the aggregate Outstanding Balance of Foreign Receivables exceeds 1% of the aggregate Outstanding Balance of all Receivables on such day, such that following such designation the Outstanding Balance of all Foreign Receivables not so designated shall not exceed 1% of the aggregate Outstanding Balance of all Receivables on such day. Receivables so designated by the Transferor will not be treated as Eligible Receivables, their principal balances will not be credited toward the Aggregate Principal Receivables in the Trust, and Collections with respect to such Receivables will be treated as Finance Charge Collections.
Designated Receivables. (a) From and after the Closing Date until the first anniversary of the Closing Date, Purchaser and the Companies shall use reasonable commercial efforts, consistent with the Companies’ past practice, to collect the Designated Receivables.
(b) If any Designated Receivables are collected by or on behalf of Purchaser or the Companies prior to the first anniversary of the Closing Date, then within thirty (30) days after the first anniversary of Closing, Purchaser shall pay such collected amount, net of reasonable collection costs, to the Selling Stockholders in accordance with such Selling Stockholders’ Pro Rata Portion.
(c) From and after the Closing Date until the first anniversary of the Closing Date, Purchaser shall not enter into any amendment with respect a Designated Receivable that would extend the payment date for any such Designated Receivables.
Designated Receivables. 21 6.11 Records.............................................................................................. 22
Designated Receivables. Disney owns each of the Designated Receivables, free and clear of any adverse claim. On making the Advances (assuming the Lock Box Notice has been duly acknowledged by the depositary bank at which the Lock Box Account is maintained) and upon Oriental Land making payment into the Lock Box Account of any Designated Receivables constituting Collateral hereunder, the Company shall acquire a valid and perfected security interest in such Collateral. No effective financing statement or other instrument similar in effect covering the Basic Agreement, any Designated Receivables or the proceeds thereof is or shall at any time during the term of this Agreement be on file in any relevant recording office except the financing statement in favor of the Company with respect to this Agreement and the other Disney Agreements.
Designated Receivables. 4. The Crockers hereby assign to Crdentia and/or Arizona Home Health all of their right, title, and interest, if any, in and to the Designated Receivables (as defined in the Allocation Agreement), including but not limited to any and all receivables listed on the exhibit attached hereto as Exhibit “A.”
5. The Crockers agree that any monies previously collected by Crdentia and/or Arizona Home Health and not previously remitted to the Shareholder Representative (as defined in the Allocation Agreement) in respect of the Designated Receivables shall remain the sole property of Crdentia and/or Arizona Home Health, and the Crockers agree that they shall have no rights whatsoever to such monies. Further, the Crockers agree that any monies collected by Crdentia and/or Arizona Home Health in respect of the Designated Receivable in the future shall be the sole property of Crdentia and/or Arizona Home Health, and the Crockers agree that they shall have no rights whatsoever to such monies.
6. The Crockers agree that Crdentia and/or Arizona Home Health shall have no further obligations to the Crockers under’ the Allocation Agreement.
Designated Receivables. Buyer and Seller acknowledge that certain of the Target Group Companies have certain outstanding receivables that remain pending as further described in Section 6.14 of the Disclosure Schedules (the “Designated Receivables”). Buyer acknowledges that the Designated Receivables were not taken into account in determining the Purchase Price and agrees to cooperate with Seller as reasonably necessary (not to require Buyer to incur any out-of-pocket expense) to obtain such Designated Receivables and promptly pay over to Seller any Designated Receivables actually received by Seller or the applicable Target Group Companies.