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 for 60 days or more after the Closing, the Shareholders shall, upon written request by the Surviving Corporation made within 90 days after the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof.

Appears in 1 contract

Samples: Merger Agreement (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 for 60 120 days or more after the Closing, the Shareholders shall, upon written request by the Surviving Corporation made within 90 150 days after the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof.

Appears in 1 contract

Samples: Merger Agreement (Group Maintenance America Corp)

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

Appears in 1 contract

Samples: Merger Agreement (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 for 60 days or more after the Closing, the Shareholders shall, upon written request by the Surviving Corporation made within 90 days after the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof.

Appears in 1 contract

Samples: Merger Agreement (Group Maintenance America Corp)

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

Appears in 1 contract

Samples: Merger Agreement (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 for 60 days or more after the Closing, the Shareholders shall, upon written request by the Surviving Corporation made within 90 days after the Closing, purchase the same from the Surviving Corporation, without recourse, for the uncollected amount thereof.

Appears in 1 contract

Samples: Merger Agreement (Group Maintenance America Corp)

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