Trade Creditors. To trade creditors, including Members who are trade creditors, to the extent otherwise permitted by Applicable Law, in satisfaction of amounts due and owing in respect of the Company’s ordinary course trade payables. Any reserves set up by the Liquidator may be paid over by the Liquidator to an escrow agent or trustee, to be held in escrow or trust for the purpose of paying any such contingent or unforeseen liabilities or obligations, and, at the expiration of such period as the Liquidator may deem advisable, such reserves shall be distributed to the Members or their assigns in the manner set forth in this Section 13.3(d).
Trade Creditors. As of the Closing there will be outstanding bills or debts payable to trade creditors of Seller with respect to the Business and such bills will be the responsibility of Seller.
Trade Creditors. As of the date of this Letter of Intent, Antex has outstanding payables of $1,547,607, in the aggregate, to the trade creditors listed on Schedule A to this Letter of Intent. At the Closing, each trade creditor would have the option of either (i) receiving a payment in cash equal to $0.60 for each $1.00 of obligation owed by Antex to such trade creditor or (ii) receiving a promissory note issued by Acquisition Sub (with a payment guaranty by BioPort) with a principal amount equal to $0.80 for each $1.00 of obligation owed by Antex to such trade creditor, payable in 2 equal annual installments from the Closing with simple interest at the rate of 3 percent per annum.
Trade Creditors. So far as the Warrantor is aware, none of the Group's trade creditors whose supply is significant to any member of the Group have in the last twelve months indicated to any member of the Group that it intends to or has threatened to cease trading with the Group.
Trade Creditors. A list of all trade creditors of the Target who are owed amounts, which are outstanding as at 30 April 2013 is attached to the Disclosure Letter.
Trade Creditors. All amounts owed by SW immediately before the relevant Initial Transfer Date to, or in respect of, trade creditors and periodic charges and outgoings in respect of each Transferred Business, whether or not an invoice has been received by SW, and for this purpose any necessary apportionment of charges or outgoings attributable:
(a) partly to the period before the Initial Transfer Date and partly to the period after the Initial Transfer Date; and
(b) partly to a Transferred Business and partly to another business activity or activities of SW, shall be made.
Trade Creditors. Trade creditors and accruals are recognised at their nominal amounts, be- ing the amounts at which the liabilities will be settled . Accounting standards require that an item be recognized as a liability when “it is probable that …. future economic benefit associated with the item will flow ….. from the entity” [AIFRS Framework Paragraph 83]. Further, the Commonwealth Finance Ministers Orders, “REQUIREMENTS AND GUIDANCE FOR THE REPARATION OF FINANCIAL STATEMENTS OF AUSTRALIAN GOVERNMENT ENTITIES”, [2006] is instructive in determining what liabilities are to be brought to account for the purposes of Commonwealth grant funds:- “While most obligations are contractual, others are equitable or constructive . An equitable obligation is governed by social or moral sanctions or custom rather than legal sanctions . A constructive obligation is created, inferred or construed from the facts in a particular situation rather than contracted by agreement or imposed by government”. [FMO Paragraph 4B.1.2] Liabilities have been raised in accordance with these Standards .
Trade Creditors. All Trade Creditors of the Group Companies as at the Completion Date shall be included.
Trade Creditors. A list of all trade creditors of the Target which are outstanding as at one Business Day prior to the date of this agreement is contained on the Data Site.
Trade Creditors. Trade debts incurred by the Target in the ordinary course of business since the Management Accounts Date do not exceed £100,000 in aggregate.
