Prior Writeoffs Clause Samples

Prior Writeoffs. In calculating the liability of Perstorp in respect of any Claim relating to the accounts receivable or inventory of any Acquired Company, applying the accounting policies, principles and practices adopted in relation to preparation of the Last Accounts (and ignoring the effect of any change in Law made after Completion), such Claim will be reduced to the extent that any account receivable or inventory specifically written off in the Completion Date Balance Sheet has been actually recovered (net of any related costs) prior to the payment of such Claim and not previously credited (pursuant to this sentence) against a Claim relating to the accounts receivable or inventory of any Acquired Company. For purposes of the preceding sentence, (a) recoveries of accounts receivable may not be credited against claims relating to inventories or recoveries of inventories credited against claims relating to accounts receivable, and (b) write-ups of accounts receivable or inventories shall not constitute actual recoveries of such assets.
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Related to Prior Writeoffs

  • Allowances 25.1 Site allowances shall be paid in accordance with the allowances set out in Appendix C, or as determined by the Disputes Panel pursuant to the provisions of Appendix C.

  • Amortization Such Mortgage Loan does not provide for negative amortization unless such Mortgage Loan is an ARD Mortgage Loan, in which case it may occur only after the Anticipated Repayment Date.

  • Restructuring 24.1 In the event that all or part of the work undertaken by the employee will be affected by the employer entering into an arrangement whereby a new employer will undertake the work currently undertaken by the employee, the employer will meet with the employee, providing information about the proposed arrangement and an opportunity for the employee to comment on the proposal, and will consider and respond to their comments. The employee has the right to seek the advice of their union or to have the union act on their behalf. 24.2 The employer will negotiate with the new employer, including whether the affected employees will transfer to the new employer on the same terms and conditions, and will include in the agreement reached with the new employer a requirement that the employee be offered a position with the new employer at the same or similar terms of employment. 24.3 Where the employee either chooses not to transfer to the new employer, or is not offered employment by the new employer, the employer will activate the staff surplus provisions of this agreement.

  • PRODUCTIVITY The Union shall place no limitations upon the amount of work which an Employee shall perform during the working day and there shall be no restrictions imposed against the use of any type of machinery, tools or labour saving devices.

  • ASSISTANCE IN RELATED PROCUREMENTS 5.1. Where a Relevant Supplier is bidding to provide New Services in circumstances where the Supplier or an Affiliated Company of the Supplier is already providing (or due to provide Legacy Services to a Contracting Body, the Supplier shall promptly provide the relevant Contracting Body and/or the Relevant Supplier with all reasonable information and assistance as may be required from time to time to enable the relevant Contracting Body and/or the Relevant Supplier, as appropriate, to: 5.1.1. carry out appropriate due diligence with respect to the provision of the New Services; 5.1.2. effect a smooth transfer and/or inter-operation (as the case may be) between the Legacy Services and the New Services; 5.1.3. carry out a fair Further Competition Procedure for the New Services; and 5.1.4. make a proper assessment as to the risk related to the New Services. 5.2. When performing its obligations in Clause 5.1 the Supplier shall act consistently, applying principles of equal treatment and non-discrimination, with regard to requests for assistance from and dealings with each Relevant Supplier.