Common use of Purchase of Certain Receivables Clause in Contracts

Purchase of Certain Receivables. If any accounts receivable included ------------------------------- in current assets of the Company for purposes of determining Working Capital (as defined in Exhibit 1) remain unpaid in full on the date that is 60 days following the Closing, the Shareholders shall, upon written request by the Surviving Corporation made on or before the date that is 90 days following the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof (net of any reserve for bad debts on the books of the Company on the Closing).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Group Maintenance America Corp)

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Purchase of Certain Receivables. If any accounts receivable included ------------------------------- -------------------------------- in current assets of the Company for purposes of determining Working Capital (as defined in Exhibit 1) remain unpaid in full on the date that is for 60 days following after the Closing, the Shareholders shall, upon written request by the Surviving Corporation made on or before the date that is within 90 days following after the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof (net of any reserve for bad debts on the books of the Company on the Closing)thereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Group Maintenance America Corp)

Purchase of Certain Receivables. If any accounts receivable ------------------------------- included ------------------------------- in current assets of the Company for purposes of determining Working Capital (as defined in Exhibit 1) remain unpaid in full on the date that is for 60 days following or more after the Closing, the Shareholders shall, upon written request by the Surviving Corporation made on or before the date that is within 90 days following after the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof (net of any reserve for bad debts on the books of the Company on the Closing)thereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Group Maintenance America Corp)

Purchase of Certain Receivables. If any accounts receivable included ------------------------------- in current assets of the Company for purposes of determining Working Capital (as defined in Exhibit 1) remain unpaid in full on the date that is 60 for 120 days following after the Closing, the Shareholders shall, upon written request by the Surviving Corporation made on or before the date that is 90 within 150 days following after the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof (net of any reserve for bad debts on the books of the Company on the Closing)thereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Group Maintenance America Corp)

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Purchase of Certain Receivables. If any accounts receivable included ------------------------------- -------------------------------- in current assets of the Company for purposes of determining Working Capital (as defined in Exhibit 1) remain unpaid in full on the date that is for 60 days following or more after the Closing, the Shareholders shall, upon written request by the Surviving Corporation made on or before the date that is within 90 days following after the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof (net of any reserve for bad debts on the books of the Company on the Closing)thereof.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Group Maintenance America Corp)

Purchase of Certain Receivables. If any accounts receivable included ------------------------------- in current assets of the Company for purposes of determining Working Capital (as defined in Exhibit 1) remain unpaid in full on the date that is 60 occurs 120 days following the Closing, the Shareholders Shareholder shall, upon written request by the Surviving Corporation made on or before the date that is 90 occurs 150 days following the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof (net of any reserve for bad debts on the books of the Company on the Closing).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Group Maintenance America Corp)

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