Payments of Accounts Receivable. In the event Seller shall receive any instrument of payment of any of the Accounts Receivable, Seller shall forthwith deliver it to Purchaser, endorsed where necessary, without recourse, in favor of Purchaser.
Payments of Accounts Receivable. In the event that the Seller shall receive any instruments of payment of any of the accounts receivable of the Company, Seller shall forthwith deliver such instruments to Purchaser, endorsed where necessary, without recourse, in favor of Purchaser. In the event Purchaser, the Company or any of their respective Affiliates shall receive any instruments of payment properly payable to the Seller, Purchaser shall deliver, or shall cause the Company or Purchaser’s or the Company’s respective Affiliates, as applicable, to deliver, such instruments to the Seller or its Affiliate, as applicable, endorsed where necessary, without recourse, in favor of such Person.
Payments of Accounts Receivable. In the event Sellers shall receive any instrument of payment of any of the Accounts Receivable, Sellers shall forthwith deliver it to Purchaser, endorsed where necessary, without recourse, in favor of Purchaser.
Payments of Accounts Receivable. At the Closing Seller shall provide Purchaser with a detailed aging report of Seller's Accounts Receivable. Purchaser shall use reasonable efforts, consistent with its existing business practices to collect such Accounts Receivable. Purchaser shall within fifteen days after the end of each calendar month following the calendar month of the Closing, deliver to Seller an accounting showing for such month the amount received in collections on Seller's Accounts Receivable, specifying the amount received on each invoice of Seller (the "Collection Report"). If the amount of Accounts Receivable collected by Purchaser exceeds the Accounts Receivable Amount, then Purchaser shall remit to Seller the amount of such excess. Such payment(s) shall be made simultaneously with Purchaser's delivery of the Collection Reports. If by the sixtieth day following the Closing, Purchaser has not received payments with respect to Seller's Accounts Receivable equal to Accounts Receivable Amount, then Xxxxxxxx Xxxxxx shall pay to Purchaser within ten (10) days after receipt of written demand therefor, an amount equal to the difference between Seller's Accounts Receivable collected and the Accounts Receivable Amount.
Payments of Accounts Receivable. In the event Seller shall receive subsequent to the Closing Date any instrument of payment of any of amounts that belong to the Purchaser, the Seller shall immediately deliver it to the Purchaser, endorsed where necessary, without recourse, in favor of the Purchaser, including but not limited to collecting from advertisers under corporate agreements for advertising in the newspapers for which advertiser remits payment to Seller under such corporate agreement.
Payments of Accounts Receivable. 33 9.6 Transactional Costs/Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 9.7
Payments of Accounts Receivable. At or prior to the Closing, except as set forth on Schedule 4.2(k) (other than the exercises of Stock Options pursuant to Section 1.8(d) hereof) all accounts receivable of the Company from Stockholders of the Company and their Affiliates shall be been paid in full, whether or not it is then due.
Payments of Accounts Receivable. All payments of accounts receivable of Seller included in the Purchased Assets, which are listed on SCHEDULE 1.1(A)(1), which have been or will be received by Seller on or after the Closing Date from any third party in the name of or to Seller in connection with or arising out of the GAP Business, shall be held by Seller in trust for the benefit of Buyer, and within five (5) business days after receipt by Seller of any such payment, Seller shall pay over to Buyer the aggregate amount of each such payment, endorsed where necessary, together with all corresponding notes, documentation and information received in connection therewith. From and after the Closing Date, if Buyer or Parent receives or collects any accounts receivable, notes receivable or other receivables of Seller that are not included in the Purchased Assets, within five (5) business days after receipt by Buyer or Parent, as applicable, of any such payment, Buyer or Parent, as applicable, shall pay over to Seller the aggregate amount of each such payment, endorsed where necessary, together with all corresponding notes, documentation and information received in connection therewith.
Payments of Accounts Receivable. At or prior to the Closing, except as set forth on Schedule 5.2(k), all accounts receivable of the Company from Parent and Parent’s Affiliates, if any, shall be been paid in full, whether or not then due and payable, subject to Section 6.3(c).
Payments of Accounts Receivable. ON OR IMMEDIATELY FOLLOWING THE CLOSING DATE, THE SELLER SHALL SEND TO EACH PAYOR OF AN ELIGIBLE PURCHASED RECEIVABLE A NOTICE, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO NCFE (AS DEFINED BELOW), WHICH SHALL DIRECT SUCH PAYOR TO REMIT ALL PAYMENTS WITH RESPECT TO SUCH PURCHASED RECEIVABLE FOR DEPOSIT IN THE LOCKBOX ACCOUNT. DURING THE PERIOD FROM THE CLOSING DATE UNTIL THE FIRST ANNIVERSARY OF THE CLOSING DATE (THE "ACCOUNTS RECEIVABLE TRANSITION PERIOD"), DISBURSEMENTS FROM SELLER'S LOCKBOX ACCOUNTS SHALL TAKE PLACE ACCORDING TO THE PROCEDURES SET FORTH IN THE LOCKBOX AGREEMENT AND EXHIBITS THERETO. FROM AND AFTER THE CLOSING DATE, (I)IN THE EVENT SELLER SHALL RECEIVE ANY INSTRUMENT OF PAYMENT OF ANY OF THE PURCHASED RECEIVABLES, SELLER SHALL DELIVER IT TO PURCHASER, ENDORSED WHERE NECESSARY, WITHOUT RECOURSE, IN FAVOR OF PURCHASER AND (II)IN THE EVENT PURCHASER SHALL RECEIVE ANY INSTRUMENT OF PAYMENT OF ANY RECEIVABLE OF SELLER THAT IS NOT A PURCHASED RECEIVABLE, PURCHASER SHALL DELIVER IT TO SELLER, ENDORSED WHERE NECESSARY, WITHOUT RECOURSE, IN FAVOR OF SELLER. FROM TIME TO TIME DURING THE ACCOUNTS RECEIVABLE TRANSITION PERIOD, PURCHASER AND SELLER SHALL COOPERATE TO DETERMINE WHICH OF PURCHASER OR SELLER IS ENTITLED TO ANY OF THE UNMATCHED REMITTANCES (AS DEFINED IN THE LOCKBOX AGREEMENT). IF PURCHASER AND SELLER ARE UNABLE TO DETERMINE WHICH OF THEM IS ENTITLED TO ANY UNMATCHED REMITTANCE AND SUCH UNMATCHED REMITTANCE(S) IS LESS THAN $10,000 IN THE AGGREGATE, PURCHASER AND SELLER AGREE THAT EACH OF THEM SHALL BE ENTITLED TO ONE HALF OF SUCH UNMATCHED REMITTANCE(S). IF PURCHASER AND SELLER ARE UNABLE TO DETERMINE WHICH OF THEM IS ENTITLED TO ANY UNMATCHED REMITTANCE AND SUCH UNMATCHED REMITTANCE(S) GREATER THAN OR EQUAL TO $10,000 IN THE AGGREGATE, PURCHASER AND SELLER AGREE THEY SHALL SUBMIT SUCH INFORMATION REGARDING SUCH UNMATCHED REMITTANCES AS IS IN EACH OF THEIR POSSESSION TO A NATIONALLY RECOGNIZED FIRM OF CERTIFIED PUBLIC ACCOUNTANTS (A "CPA FIRM") AND AGREE TO BE BOUND BY THE DETERMINATION OF SUCH CPA FIRM AS TO WHICH PORTION OF SUCH UNMATCHED REMITTANCE(S) EACH OF PURCHASER AND SELLER IS ENTITLED. PURCHASER AND SELLER SHALL EACH PAY ONE HALF OF THE FEES OF SUCH CPA FIRM. UPON ANY SUCH DETERMINATION DESCRIBED ABOVE, WHETHER BY AGREEMENT OF PURCHASER AND SELLER OR BY A DECISION OF A CPA FIRM, PURCHASER AND SELLER SHALL PROMPTLY AUTHORIZE BANK (AS DEFINED IN THE LOCKBOX AGREEMENT) TO MAKE SUCH DISBURSEMENTS AS ARE APPROPRIATE, BASED ON SU...
