Outstanding Accounts Payable Sample Clauses

Outstanding Accounts Payable. Permit Nationwide or any Restricted Subsidiary formed under the laws of the United States of America or any state thereof to have (i) more than twenty-five percent (25%) of its past due accounts payable outstanding for more than 75 days, or (ii) any accounts payable outstanding for more than 120 days, other than, in each case, accounts payable which are being disputed in good faith by appropriate proceedings and for which a Borrower or a Restricted Subsidiary has provided adequate reserves in accordance with GAAP.
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Outstanding Accounts Payable. Buyer agrees to settle and pay within thirty (30) days of the Effective Date of the closing of the proposed business combination all accounts payable owed by Buyer to Seller’s affiliate (the “Outstanding Accounts Payable”) that are past due. The payment term set forth in clause 3(3) herein shall be applicable to all other Outstanding Accounts Payable not yet past due.
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Outstanding Accounts Payable. Annex B sets forth a complete and correct list of all Outstanding Accounts Payable (including, without limitation the applicable vendor and outstanding balance in respect thereof) known to Borrower on the Initial Closing Date.
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Outstanding Accounts Payable 
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Related to Outstanding Accounts Payable

  • Accounts Receivable; Accounts Payable All accounts receivable of Emergent and its Subsidiaries reflected in the Interim Financial Statements and all accounts receivable that are reflected on the books of Emergent and its Subsidiaries as of the Closing Date (net of allowances for doubtful accounts as reflected thereon and as determined in accordance with GAAP) are obligations arising from sales actually made or services actually performed in the Ordinary Course of Business arising in connection with bona fide arm’s length transactions with Persons who are not Affiliates of Emergent or any of its Subsidiaries, constitute valid undisputed claims and are not, by their terms, subject to defenses, set-offs or counterclaims. Neither Emergent nor any of its Subsidiaries has received written notice from or on behalf of any obligor of any such accounts receivable that such obligor is unwilling or unable to pay a material portion of such accounts receivable. All accounts payable and notes payable of Emergent and its Subsidiaries arose in bona fide arm’s length transactions in the Ordinary Course of Business and with Persons who are not Affiliates of Emergent or any of its Subsidiaries, and no such account payable or note payable is materially delinquent in its payment.

  • Accounts Receivable and Payable The accounts receivable reflected on the Financial Statements arose in the ordinary course of business and, except as reserved against on the Financial Statements, are collectible in the ordinary course of business and consistent with past practices, free of any claims, rights or defenses of any account debtor. No accounts payable of the Company are over forty-five (45) days old.

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