Outstanding Checks. A report regarding each Borrower’s outstanding checks and similar payment items, substantially in the form as that being provided to the Banks prior to the Sixth Amendment Closing Date; such report to be delivered within three Business Days after the end of each week.
Outstanding Checks. Funds shall remain on deposit at the Closing in each checking account maintained by each of the Subsidiaries sufficient in amount to cover all outstanding checks or drafts against such accounts.
Outstanding Checks. Notwithstanding anything to the contrary herein or in the Disclosure Schedule, the Company shall (and the Shareholders shall cause the Company to) ensure that, as of the Closing, each checking account maintained by the Company has a balance equal to or in excess of the aggregate amount of all outstanding checks or other withdrawals against such checking account.
Outstanding Checks. To the extent any checks issued by Xxxxxxx or Norshield prior to the Closing Date have not cleared as of the Closing Date, Seller will provide funds to the accounts on which such checks are drawn sufficient to honor such checks, said accounts constituting Excluded Assets.
Outstanding Checks. Exclusive of any amounts used in the calculation of the Net Working Capital as described in Section 2, Parent shall ensure that the BHG Companies have adequate cash to pay any outstanding and unpaid checks issued by the BHG Companies as of the Closing Date.
Outstanding Checks. At the Closing, Seller will have sufficient cash in the appropriate bank account(s) to ensure that there are sufficient funds in each such account to pay, when presented, all the outstanding checks of Seller.
Outstanding Checks. The Seller shall make available in its appropriate bank accounts cash adequate to cover any checks, wires, electronic transfers and payroll of the Seller outstanding as of the Closing Date, and shall, subject to disbursements in respect thereof, maintain such amounts in such accounts.
Outstanding Checks. After the Closing Date, Buyer shall honor all Outstanding Checks which are cashed by the applicable payees.
Outstanding Checks. While Seller has agreed to transfer legal title to certain predecessor operating accounts (with 7/31/98 balances of $952,036) at First Union Bank to PLAN prior to Closing, Buyer acknowledges that checks on those accounts totaling $360,297 are still outstanding and that Seller will retain cash in such amount to cover such checks when presented or to escheat same to the Commonwealth of Pennsylvania.
Outstanding Checks. Shareholder represents that no checks have been cut or mailed by the Company since Friday, April 25, 2003, without the Purchaser's prior consent. The Shareholder shall pay or cause to be paid upon presentation prior to August 1, 2003, all of the Outstanding Checks. The Shareholder will not be required to honor any Outstanding Check presented on or after August 1, 2003. Shareholder shall deliver to the Purchaser a list of all checks which it reasonably believes are Outstanding Checks on the Closing Date. On a monthly basis the Shareholder shall provide the Purchaser with a list of the Outstanding Checks that have cleared that month. By August 15, 2003, the Shareholder and the Purchaser shall calculate the difference between the amount paid to the Shareholder for the Outstanding Checks at the Closing and the aggregate amount actually paid by the Shareholder for such checks upon presentation prior to August 1, 2003. In the event the amount paid by the Purchaser at Closing exceeds the aggregate amount Shareholder paid for such checks upon presentation the Shareholder shall reimburse the Purchaser for such overage by August 31, 2003. If the amount paid by the Purchaser at Closing was less than the amount paid by the Shareholder for such checks upon presentation prior to August 1, 2003, the Purchaser shall pay such shortfall to the Shareholder by August 31, 2003.
