Seller’s Accounts Receivable. For a period of 6 months after Closing, Buyer shall, on Seller's behalf, and at no-charge to Seller, accept any payment with respect to Seller's customer receivables and other receivables arising out of the operation of Seller's Business pdor to Closing. All collected receivables from vehicle sales shall be delivered to Seller within ten (1 0) days after collection, and all other collected receivables shall be delivered to Seller on a monthly basis. Buyer shall have no obligation to undertake collection efforts with respect to Sellers receivables, and Buyer's only obligation shall be to account for and pay over Seller's receivables which are actually received by Buyer.
Seller’s Accounts Receivable. The parties agree that Buyer shall have the sole and exclusive right to Collect on any and all of Seller's accounts receivable (the "Accounts Receivable") from the Closing Date and for 120 days thereafter. The following procedure shall apply. Seller shall assign to Buyer Seller's Accounts Receivable at Closing. Buyer agrees that after the Closing Date it will use efforts to collect the Accounts Receivable comparable to those efforts Buyer uses to collect trade accounts receivable arising out of its security monitoring business which are similar in amounts and ages; provided that Buyer will not be required to retain or use legal counsel or any collection service, or to institute legal proceedings, as a part of its collection efforts. If Buyer receives any of Seller's accounts receivable during the period of 120 days immediately following the Closing Date, Buyer shall pay to the Seller on the tenth day after collection in good funds the said accounts receivable collected by Buyer. At the end of the said 120 day period, Buyer shall assign to Seller, without recourse, the Seller's accounts receivable which remain uncollected. Upon Seller's request made within 90 days after the expiration of such 120 day period, Buyer will provide Seller's accountant with access during Buyer's normal business hours to Buyer's books and records related to the accounts receivable. The entire cost of such verification and report (whether there be one or more often) shall be borne by Seller and the Shareholders. Buyer may require as a condition to furnishing any information to such independent accountant that such independent accountant agree to confidentiality agreement reasonably satisfactory to Buyer. If an obligor on any of the accounts receivable is also an obligor on one or more trade accounts receivable of Buyer at the time such obligor makes a payment to Buyer (a "Double Obligor") to be applied toward the accounts receivable or toward such obligor's trade account payable to Buyer, such amount will, unless otherwise indicated by such obligor, be applied to the accounts receivable or such trade account payable to Buyer in chronological order. An obligor may indicate an application of the amount paid by it either expressly by reference to a particular invoice or implicitly because the amount paid corresponds to one or more to the unpaid invoices owed to Buyer or comprising the account receivable. Buyer may undertake to obtain direction from such obligor if payments are not acc...
Seller’s Accounts Receivable. Except as otherwise provided herein, it is expressly agreed by and between Purchaser and Seller that Seller is not selling to Purchaser, and Purchaser is not purchasing from Seller, any of Seller’s Accounts Receivable. All of Seller’s Accounts Receivable shall be and remain the property of Seller, subsequent to the Closing of the transaction contemplated hereby. At the Closing, Seller shall prepare a list of its outstanding Accounts Receivable as of midnight on the date prior to the Closing, specifying the name of each account and the amount due to Seller. Purchaser shall hold any amounts received by Purchaser as payment of such accounts receivable, in trust, if Purchaser actually collects any such amounts, and shall pay the monies collected in respect thereof (less credit card fees) to Seller at the end of the week, accompanied by a statement showing the amount collected on each such account. Other than the foregoing, Purchaser shall have no obligation with respect to any such account, and Purchaser shall not be required to take any legal proceeding or action to effect collection on behalf of Seller. It is generally the intention of Purchaser and Seller that although all of Seller’s Accounts Receivable shall be and remain the property of the Seller, still, if any such accounts are paid to Purchaser, then Purchaser shall collect same and remit to Seller in the manner above provided, but Purchaser shall have no obligation to pursue and Seller reserves the right to collect its Accounts Receivables by all means it deems appropriate, at no cost to Purchaser.
Seller’s Accounts Receivable. Following the Closing, Buyer shall use its reasonable commercial efforts to collect the Sellers’ Accounts Receivables. Seller agrees to maintain accurate records of each such Account Receivable and the balance remaining on the same and to provide such reasonable documentation as may be requested from time to time by the Purchaser or any obligor under the same. Seller agrees to forebear taking any legal action, including the filing of any claim, to collect any Accounts Receivable following the Closing Date. Purchaser shall, within the first ten (10) days of each calendar month, remit to Seller all amounts collected on any Seller’s Accounts Receivable during the immediately preceding calendar month. During any calendar month, should an obligor under any of the Seller’s Accounts Receivable also have an account with the Purchaser, the Purchaser shall apply any sums collected from such obligor first against such obligor’s Seller’s Accounts Receivable until paid in full and then against the amounts owed the Purchaser. Notwithstanding anything contained herein to the contrary, in no event, whatsoever, shall the Purchaser have any liability for any of the Sellers’ Account Receivable that are uncollected or determined to be uncollectible, nor shall the Purchaser be obligated to expend any funds in furtherance of such collection efforts. On and after the first (1st) anniversary of the Closing Date, Purchaser shall have no further obligations to collect any sums under any of the Sellers’ Accounts Receivable.
Seller’s Accounts Receivable. 1.1.4 Seller's goodwill;
Seller’s Accounts Receivable. Purchaser, upon receipt, shall promptly remit to Seller all sums received by Purchaser in payment of any of Seller’s Accounts Receivables. All sums received by Purchaser from a customer, guest or patron owing Seller under a Seller’s Account Receivable shall be credited, first, to the sums owing Seller, and then, to the extent any sums remain, to Purchaser. For a period of one (1) year after the Close of Escrow, Seller shall have the right, from time to time, to inspect and audit the books and records of the Hotel that pertain to income and collections, at Seller’s sole cost (unless it is determined from such audit or inspection that Purchaser has withheld Seller’s Accounts Receivable, then Purchaser shall pay the costs of such audit and inspection), and Purchaser shall provide full and complete access thereto to Seller during normal business hours upon not less than three (3) business days prior Notice, to verify receipt and payment of Seller’s Accounts Receivable.
Seller’s Accounts Receivable. Not withstanding any other provision of this Agreement, Buyer agrees that following Closing, Buyer shall cooperate with Seller in the collection of outstanding accounts receivable owed to Seller. In the event any of Seller’s account receivables are paid to Buyer, Buyer shall immediately remit Buyer’s account receivables to Seller.
Seller’s Accounts Receivable. All accounts receivable of RxPA, including third-party receivables, which accrue prior to the Closing Date shall remain the property of Seller. For a period of ninety (90) days from and after the Closing Date, Buyer agrees to accept payment of accounts receivable for and on behalf of Seller, and shall make an accounting of and transmit such collected receivables to the Company on Friday of each week, whether received during such 90-day period or thereafter (“A/R Payments”). On the 91st day after the Closing Date, Buyer shall return all records of A/R Payments to the Company. A/R Payments received, unless otherwise specified by any payer, shall be allocated on a first in first out basis. Notwithstanding any of the above, Buyer shall have no duty actively to attempt to collect such receivables, but will cooperate with Seller in such collection.
Seller’s Accounts Receivable. Buyer is purchasing all of Seller's accounts receivable, including patient accounts receivable, long-term patient accounts receivable, income guarantee advances, amounts receivable from third party payor programs (governmental or commercial), notes, other receivables, whether or not written off. After the Closing, Seller shall remit to Buyer any payments received by Seller with respect to the accounts receivable sold to Buyer. Any funds so collected will be remitted to Buyer within fifteen (15) days following receipt of such payments.
Seller’s Accounts Receivable. For a period of six (6) months after Closing, Buyer shall, on Seller's behalf, and at no charge to Seller, accept any payment with respect to Seller's customer receivables and other receivables arising out of the operation of Seller's Business prior to Closing. All collected receivables from vehicle sales shall be delivered to Seller within ten (10) days after collection, and all other collected receivables shall be delivered to Seller on a monthly basis. Buyer shall have no obligation to undertake collection efforts with respect to Seller's receivables, and Buyer's only obligation shall be to account for and pay over Seller's receivables which are actually received by Buyer. Seller shall be provided with reasonable access to Buyer's Ford and Mazda communication equipment for the above time period, at no cost to Seller, for purposes of processing claims with the Franchisors.
