Common use of Repurchase of Unpaid Receivables Clause in Contracts

Repurchase of Unpaid Receivables. The Seller, the Corporation 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, the Corporation 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 which are so paid for by the Seller, the Corporation and the Shareholders shall, without further action of any party, become the property of the Seller.

Repurchase of Unpaid Receivables. The Seller, the Corporation Seller and the Shareholders jointly and severally guarantee that 90% of the aggregate amount of the Closing Accounts Receivable Receivable, less $25,000, 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, the Corporation 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 which are so paid for by the Seller, the Corporation Seller and the Shareholders shall, without further action of any party, become the property of the Seller.

Repurchase of Unpaid Receivables. The Seller, the Corporation 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, the Corporation 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 which are so paid for by the Seller, the Corporation Seller and the Shareholders shall, without further action of any party, become the property of the Seller.

Repurchase of Unpaid Receivables. The Seller, the Corporation and the Shareholders jointly and severally guarantee that 90% of the aggregate amount of the all Closing Accounts Receivable which are less than 90 days old on the Closing Date 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, the Corporation 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 which are so paid for by the Seller, the Corporation and the Shareholders shall, without further action of any party, become the property of the SellerShareholders, without recourse to the Company.