Common use of Payment of Accounts Receivable Clause in Contracts

Payment of Accounts Receivable. All payments of Accounts Receivable and other payments on behalf of Company received by Factor shall be credited to Company's Reserve Account. No check, draft or other instrument received by Factor shall constitute final payment unless and until such check, draft or other instrument shall have been actually collected by Factor in immediately available funds. The amount of the Purchase Price of any Factor Risk Account Receivable which remains unpaid will be deemed collected and will be credited to Company's account as of the earlier of the following dates: (a) the date of the Account Receivables longest maturity if any proceeding or petition is instituted or filed by or against the Customer for relief under any federal or state bankruptcy or insolvency law, code or act, or if a receiver or trustee is appointed for the Customer; or (b) as of the last day of the fourth (4th) month following its longest maturity date if such Factor Risk Account Receivable remains unpaid as of such date without the happening of any of the events specified in the preceding clause (a). If any Factor Risk Account Receivable credited to Company's Reserve Account is not paid for any reason other than the Customer's financial inability to pay, Factor shall reverse the credit and charge Company's Reserve Account accordingly and such Account Receivable shall then be deemed a Company Risk Account Receivable. BN 1086443v3

Payment of Accounts Receivable. All payments of Accounts Receivable and other payments on behalf of Company Client received by Factor shall be credited to CompanyClient's Reserve Accountaccount on the day of receipt by Factor. No check, draft or other instrument received by Factor shall constitute final payment unless and until such check, draft or other instrument shall have been actually collected by Factor in immediately available fundscollected. The amount of the Purchase Price of any Factor Risk Account Receivable which remains unpaid will be deemed collected and will be credited to CompanyClient's account as of the earlier of the following dates: (a) the date of the Account Receivables Receivable's longest maturity if any proceeding or petition is instituted or filed by or against the Customer customer for relief under any federal or state bankruptcy or insolvency law, code or act, or if a receiver or trustee is appointed for the Customercustomer; or (b) as of the last day of the fourth (4th) month following its longest maturity date if such Factor Credit Risk Purchased Account Receivable remains unpaid as of such date without the happening of any of the events specified in the preceding clause (a). If any Factor Risk Account Receivable credited to CompanyClient's Reserve Account account is not paid for any reason other than the Customercustomer's financial inability to pay, Factor shall reverse the credit and charge CompanyClient's Reserve Account account accordingly and such Account Receivable shall then be deemed a Company Client Risk Account Receivable. BN 1086443v3, and Client shall pay interest thereon as provided for herein.

Payment of Accounts Receivable. All payments of Accounts Receivable and other payments on behalf of Company received by Factor shall be credited to Company's Reserve Account. No check, draft or other instrument received by Factor shall constitute final payment unless and until such check, draft or other instrument shall have been actually collected by Factor in immediately available funds. The amount of the Purchase Price of any Factor Risk Account Receivable which remains unpaid will be deemed collected and will be credited to Company's account as of the earlier of the following dates: (a) the date of the Account Receivables longest maturity if any proceeding or petition is instituted or filed by or against the Customer for relief under any federal or state bankruptcy or insolvency law, code or act, or if a receiver or trustee is appointed for the Customer; or (b) as of the last day of the fourth (4th) month following its longest maturity date if such Factor Risk Account Receivable remains unpaid as of such date without the happening of any of the events specified in the preceding clause (a). If any Factor Risk Account Receivable credited to Company's Reserve Account is not paid for any reason other than the Customer's financial inability to pay, Factor shall reverse the credit and charge Company's Reserve Account accordingly and such Account Receivable shall then be deemed a Company Risk Account Receivable. BN 1086443v3.

Payment of Accounts Receivable. All payments of Accounts Receivable and other payments on behalf of Company Client received by Factor shall be credited to CompanyClient's Reserve Accountaccount. No check, draft or other instrument received by Factor shall constitute final payment unless and until such check, draft or other instrument shall have been actually collected by Factor in immediately available fundscollected. The amount of the Purchase Price of any Factor Risk Account Receivable which remains unpaid will be deemed collected and will be credited to CompanyClient's account as of the earlier of the following dates: (a) the date of the Account Receivables Receivable's longest maturity if any proceeding or petition is instituted or filed by or against the Customer customer for relief under any federal or state bankruptcy or insolvency law, code or act, or if a receiver or trustee is appointed for the Customercustomer; or (b) as of the last day of the fourth third (4th3rd) month following its longest maturity date if such Factor Risk Account Receivable remains unpaid as of such date without the happening of any of the events specified in the preceding clause (a). If any Factor Risk Account Receivable credited to CompanyClient's Reserve Account account is not paid for any reason other than the Customercustomer's financial inability to pay, Factor shall reverse the credit and charge CompanyClient's Reserve Account account accordingly and such Account Receivable shall then be deemed a Company Client Risk Account Receivable. BN 1086443v3.