Payment of Accounts. (a) Company will irrevocably direct all of its present and future Account Debtors and other Persons obligated to make payments constituting Collateral to make such payments directly to the lockbox maintained by Company (the "Lockbox") with Xxxxx Fargo pursuant to the terms of the Clearing Account Agreement dated August , 2003 among the Company, Laurus and Xxxxx Fargo Bank, (the "Lockbox Agreement")or such other financial institution accepted by Laurus in writing as may be selected by Company (the "Lockbox Bank"). On or prior to the Closing Date, Company shall and shall cause the Lockbox Bank to enter into all such documentation acceptable to Laurus pursuant to which, among other things, the Lockbox Bank agrees to: (a) sweep the Lockbox on a daily basis and deposit all checks received therein to an account designated by Laurus in writing and (b) comply only with the instructions or other directions of Laurus concerning the Lockbox. All of Company's invoices, account statements and other written or oral communications directing, instructing, demanding or requesting payment of any Account of Company or any other amount constituting Collateral shall conspicuously direct that all payments be made to the Lockbox or such other address as Laurus may direct in writing. If, notwithstanding the instructions to Account Debtors, Company receives any payments, Company shall immediately remit such payments to Laurus in their original form with all necessary endorsements. Until so remitted, Company shall hold all such payments in trust for and as the property of Laurus and shall not commingle such payments with any of its other funds or property. Company shall pay Laurus five percent (5%) of the amount of any payment so received by Company and not delivered in kind to Laurus within five (5) Business Days following Company's receipt thereof.
(b) At Laurus' election, following the occurrence of an Event of Default, Laurus may notify Company's Account Debtors of Laurus' security interest in the Accounts, collect them directly and charge the collection costs and expenses thereof to Company's account.
Payment of Accounts. Except payees named on any check or other item drawn on Your Account, such Account may only be paid to You and not any director, shareholder, partner or authorized signer as may be applicable.
Payment of Accounts. Each account or other item of Collateral, other than inventory and equipment, will be paid in full on or before the date shown as its due date in the schedule of Collateral, in the copy of the invoice(s) relating to the account or other Collateral or in contracts relating thereto. Upon any suspension of business, assignment or trust mortgage for the benefit of creditors, dissolution, petition in receivership or under any chapter of the Bankruptcy Code as amended from time to time by or against any Debtor, any Debtor becoming insolvent or unable to pay its debts as they mature or any other act of the same or different nature amounting to a business failure, the Borrower will immediately notify the Bank thereof.
Payment of Accounts. 10 9. Collection and Maintenance of Collateral................................11
Payment of Accounts. 27.01 An employee shall not be responsible for an unpaid customer account if:
(i) the account is one to which the Company has extended credit; or
(ii) the Manager has authorized the employee to leave product at the customer's premises who is otherwise an unauthorized account.
27.02 Employees shall be notified by the Company, in writing, of accounts that are authorized to receive credit. The employee shall also be notified, in writing, of any change in the status of an authorized credit account.
27.03 No employee shall be disciplined by the Company for failing to leave product with a customer when the customer does not have authorized credit status pursuant to either 27.01 (i) or 27.01 (ii) above.
Payment of Accounts. 7.1. All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer's account. In exchange for such application, we shall charge your account monthly with the cost of two (2) additional business days on all such payments at the rate charged by us in section 14.1 below on debit balances. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
7.2. The amount of the Purchase Price of any Factor Risk Account which remains unpaid will be deemed collected and will be credited to your account as of the earlier of the following dates:
(a) the date of the Account's longest maturity if a proceeding or petition is filed by or against the customer under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or
(b) the last day of the third month following the Account's longest maturity date if such Account remains unpaid as of said date without the occurrence of any of the events specified in clause (a) above. If any Factor Risk Account credited to you was not paid for any reason other than Credit Risk, we shall reverse the credit and charge your account accordingly, and such Account is then deemed to be a Client Risk Account.
Payment of Accounts. A. Housing charges for the fall and spring semesters may be made according to the payment schedules set forth by the Xxx Houston State University Bursar’s Office (xxxx://xxx.xxxx.xxx/~csh_www). Housing charges will follow University tuition payment schedules. Rates are as published in the current rate schedules and brochures and are subject to change as approved by the Board of Regents, Texas State University System.
B. All housing charges, fees, and damage charges are due immediately upon request and will be considered delinquent if not paid within ten (10) days. Failure to meet financial obligations to the University may result in any or all of the following non-inclusive sanctions: dismissal from the University, withholding future registration privileges, withholding the issuance of an official transcript, withholding the conferring of a degree, and/or barring readmission.
C. If amounts become past due, the University reserves the right to report the account to the Credit Bureau. This will also initiate internal collection efforts and could cause the University to employ an outside collection agency to recover the debt. If any collection efforts must be made, the Resident will be required to pay all collection costs, including collection agency fees, legal fees, and other costs incurred in collecting the amounts due.
Payment of Accounts. Payment Methods
(a) The preferred payment method for the Room Fee is an upfront payment for either the full year or per Term. Alternatively, You may pay the Room Fee on an installment basis via a direct debit or other approved payment method agreed to by Us.
(b) If You pay the Accommodation Fees by direct debit, You must complete, sign and promptly return to Us any request or authority form or other document We reasonably require from You to give effect to the direct debit arrangements
(c) As this agreement is with You, We will contact You in relation to any financial matters such as unpaid Accommodation Fees, regardless of who pays the fees (such as Your parents, guardians or any other third party).
(d) It is Your responsibility to ensure payments are made and cleared by the payment dates (You should allow at least two working days for BPAY payments).
Payment of Accounts. 7.1. All payments received by us on the Accounts will be promptly applied to your account with us after crediting your customer’s account. The Purchase Price for Accounts with respect to which such remittances have been received and applied by us during a week, less any amounts due us, will be transferred and disbursed to you on Thursday of the following week, or on the next business day thereafter, if said Thursday is not a business day. No checks, drafts or other instruments received by us will constitute final payment of an Account unless and until such items have actually been collected.
7.2. The amount of the Purchase Price of any Factor Risk Account which remains unpaid will be deemed collected and will be credited to your account as of the earlier of the following dates:
(a) the date of the Account’s longest maturity if a proceeding or petition is filed by or against the customer under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or
(b) the last day of the third month following the Account’s longest maturity date if such Account remains unpaid as of said date without the occurrence of any of the events specified in clause (a) above. If any Factor Risk Account credited to you was not paid for any reason other than Credit Risk, we shall reverse the credit and charge your account accordingly, and such Account is then deemed to be a Client Risk Account.
Payment of Accounts. 7.1. All payments received in the Blocked Account in respect of the Accounts will be promptly applied to your account with us after crediting your customer’s account. The Blocked Account shall be subject to the Blocked Account Agreement to be entered into between you, the Blocked Account Bank, the SPV and the Agent (as amended and supplemented, the “Blocked Account Agreement”). With respect to any CIT Risk Account that has become past due, or with respect to which a customer has undergone an adverse change in its financial condition or business prospects, or has called a meeting of creditors or ceased to do business, we shall have the right at any time in such an instance, at our sole option, to purchase the Accounts of the customer from the SPV (which right shall be in addition to our obligation, if any, to purchase such Account pursuant to the Purchase Provisions), subject to Section 9.1 below, by paying the Purchase Price of the customer’s CIT Risk Accounts to the Blocked Account, regardless of whether payment on such CIT Risk Accounts has been received from the customer, and regardless of whether any of the circumstances described in Section 7.2 below have occurred. The Blocked Account Agreement shall additionally provide, among other considerations, for the receipt by us, in form and substance and in a timely manner acceptable to us in all respects, of all such information as we may require in order for us to fully comply with and perform under this Agreement.
7.2. We shall pay the amount of the Purchase Price of any CIT Risk Account to the Blocked Account as of the earlier of the following dates:
(a) the date of the CIT Risk Account’s longest maturity if a proceeding or petition is filed by or against the customer under any state or federal bankruptcy or insolvency law, or if a receiver or trustee is appointed for the customer; or
(b) the last day of the third month following the longest maturity date of the CIT Risk Account if such Account remains unpaid as of said date without the occurrence of any of the events specified in clause (a) above. If we have purchased any CIT Risk Account and such Account was not paid for any reason other than Credit Risk, we shall reverse the credit and chargeback the Account accordingly and such Account shall then be deemed to be a Client Risk Account.
