Repurchase of Unpaid Receivables. The Shareholders jointly and severally guarantee that the Closing Accounts Receivable, net of any reserve established on the Latest Balance Sheet in accordance with GAAP on a basis consistent with the accounting practice of PentaStar, shall be fully paid to the Acquiror in accordance with their terms at their recorded amounts not later than 180 days from the Closing Date. Upon demand by PentaStar at any time after 180 days from the Closing Date, the Shareholders shall jointly and severally pay to the Acquiror the full amount of any unpaid Closing Accounts Receivable which is the subject of such demand. Upon such payment to the Acquiror, the Closing Accounts Receivable which are so paid for by the Shareholders shall, without further action of any party, become the property of the Shareholders, who may pursue collection thereof; provided, however, that the Shareholders shall notify the account obligor that such collection efforts are not being undertaken on behalf of PentaStar. From the Closing until 180 days after the Closing Date, PentaStar (through the Acquiror) shall apply its standard accounts receivable collection procedures to the Closing Accounts Receivable; provided, however, neither the Acquiror nor PentaStar shall not be required to institute suit, utilize third-party collection agencies or other agents or take other extraordinary collection actions with respect to the Closing Accounts Receivable; and, provided further, that any failure of any collection activities of the Acquiror, PentaStar or any such collection agency or other agent shall not relieve the Shareholders from their guarantee of the Closing Accounts Receivable as described in this Section 5.8.
Repurchase of Unpaid Receivables. The Sellers and the Shareholder jointly and severally guarantee that the Closing Accounts Receivable will be fully paid to the Buyer in accordance with their terms at their recorded amounts not later than 120 days from the Closing Date. Upon demand by the Buyer at any time after 120 days from the Closing Date, the Sellers and the Shareholder shall jointly and severally pay to the Buyer the full amount of any unpaid Closing Accounts Receivables which are the subject of such demand. Upon such payment to the Buyer, the Closing Accounts Receivable which are so paid for by the Sellers and the Shareholder shall, without further action of any party, become
Repurchase of Unpaid Receivables. The Seller and the Shareholders jointly and severally guarantee that 90% of the aggregate amount of the Closing Accounts Receivable will be fully paid to the Buyer in accordance with their terms at their recorded amounts not later than 120 days from the Closing Date. Upon demand by the Buyer at any time after 120 days from the Closing Date, the Seller and the Shareholders shall jointly and severally pay to the Buyer the full amount of any unpaid Closing Accounts Receivables which are the subject of such demand. Upon such payment to the Buyer, the Closing Accounts Receivable
Repurchase of Unpaid Receivables. The Company and the Shareholder jointly and severally guarantee that Closing Accounts Receivable in at least the aggregate net amount set forth on Exhibit 1.1
Repurchase of Unpaid Receivables. The Shareholders severally, but not jointly, guarantee that the Closing Accounts Receivable, net of any reserve established on the Latest Balance Sheet in accordance with GAAP on a basis consistent with the historical accounting practice of PentaStar, shall be fully paid to the Acquiror in accordance with their terms at their recorded amounts not later than 180 days from the Closing Date. Upon such payment to the Acquiror, the Closing Accounts Receivable which are so paid for by the Shareholders shall, without further action of any party, become the property of the Shareholders, who may pursue collection thereof; provided, however, that the Shareholders shall notify the account obligor that such collection efforts are not being undertaken on behalf of PentaStar. From the Closing until 180 days after the Closing Date, PentaStar shall apply its standard accounts receivable collection procedures to the Closing Accounts Receivable (which efforts shall be overseen by Mr. Xxxxxxx); xrovided, however, neither the Acquiror nor PentaStar shall not be required to institute suit, utilize third-party collection agencies or other agents or take other extraordinary collection actions with respect to the Closing Accounts Receivable; and, provided further, that any failure of any collection activities of PentaStar or any such collection agency or other agent shall not relieve the Shareholders from their guarantee of the Closing Accounts Receivable as described in this Section 5.8.
Repurchase of Unpaid Receivables. The Company guarantees (a) that the Closing Accounts Receivable (other than those which are the subject of clause (b) of this sentence) shall be fully paid to the Acquiror in accordance with their terms at their recorded amounts not later than 180 days from the Closing Date, and (b) that the residual payments due from Ameritech with respect to contracts existing on the Closing Date shall be made no later than 120 days after the date that they are due as set forth in the schedule of residual payments attached as Exhibit 5.7 (or, in the case of Ameritech contracts which are not on Exhibit 5.7 due to the fact that they were entered into between the time Exhibit 5.7 was prepared and the Closing Date, not later than 120 days after the date each such payment thereunder is due in accordance with its normal, stated terms). Upon demand by PentaStar or the Acquiror (a) at any time after the date which is 180 days after the Closing Date, the Company shall pay to the Acquiror the full amount of any unpaid Closing Account Receivable (other than those which are the subject of clause (b) of this sentence) which is the subject of such demand, and (b) at any time after the date which is 120 days after the date that a residual payment is due from Ameritech with respect to contracts existing on the Closing Date as set forth on Exhibit 5.7 (or, in the case of Ameritech contracts which are not due to the fact that they were entered into between the time Exhibit 5.7 was prepared and the Closing Date, at any time which is 120 days after the date such payment thereunder was due in accordance with its normal, stated terms) Company shall pay to the Acquiror the full amount of any unpaid residual which is due and payable as set forth on Exhibit 5.7 (or, for residual payments due from Ameritech under contracts which are not set forth on Exhibit 5.7, the full amount of any unpaid residual as set forth in such contract). Notwithstanding anything to the contrary set forth in the first two sentences of this Section 5.7, after the period ending 36 months after the Closing Date the Company's guarantee of residual payments due from Ameritech shall not apply to residual payments which, by their normal, stated terms are due after such 36-month period (for example, assume a contract that is in place as of the Closing Date and has payments due for 48 months after the Closing Date, then after 36 months has elapsed from the Closing Date the last 12 months of payments due would not be guaranteed; ...
Repurchase of Unpaid Receivables. The Shareholder guarantees that the Closing Accounts Receivables, net of any reserve established in accordance with GAAP on the Latest Balance Sheet, will be fully paid to PentaStar in accordance with their terms at their recorded amounts not later than 180 days from the Closing Date. Upon demand by PentaStar at any time after 180 days from the Closing Date, the Shareholder will pay to PentaStar the full amount of any unpaid Closing Accounts Receivable which is the subject of such demand. Upon such payment to PentaStar, the Closing Accounts Receivable which are so paid for by the Shareholder shall, without further action of any party, become the property of the Shareholder. From the Closing until 180 days after the Closing Date, PentaStar will apply its standard accounts receivable collection procedures to the Closing Accounts Receivables; provided, however, that PentaStar will not be required to institute suit, utilize third-party collection agencies or other agents or take other extraordinary collection actions with respect to the Closing Accounts Receivables; and, provided further, that any failure of any collection activities of PentaStar or any such collection agency or other agent will not relieve the Shareholder from his guarantee of the Closing Accounts Receivables as described in this Section 5.8.
Repurchase of Unpaid Receivables. The Shareholders jointly and severally guarantee that the Closing Accounts Receivable, net of any reserve established on the Latest Balance Sheet in accordance with
Repurchase of Unpaid Receivables. The Shareholders and Eide xxxntly and severally guarantee that 91.5% of the Closing Accounts Receivable will be fully paid to the Buyer in accordance with their terms at their recorded amounts not later than 120 days from the Closing Date. Upon demand by the Buyer at any time after 120 days from the Closing Date, the Shareholders and Eide xxxll jointly and severally pay to the Buyer the full amount of any unpaid Closing Accounts Receivables which are the subject of such demand. Upon such payment to the Buyer, the Closing Accounts Receivable which are so paid for by the Shareholders or Eide xxxll, without further action of any party, become the property of the Shareholders and Eide.
Repurchase of Unpaid Receivables. 14 5.10. Use of Certain Assets and Services . . . . . . . . . . . . . . 15 5.11. Location 7 . . . . . . . . . . . . . . . . . . . . . . . . . . 15
