Trade Debts Sample Clauses

Trade Debts. (i) The receivables owing from trade debtors included in the audited accounts owed to the Company have realised or will be realised in the Ordinary Course of Business (but in respect of each debt, no later than 90 (ninety) days after it first arose). (ii) Each receivable (other than those due from trade debtors) shown as an asset of the Company in the audited accounts represent bona fide sales made in Ordinary Course of Business. (iii) The receivables owing from trade debtors owed to the Company at the Closing Date (other than debts included in the audited accounts) will be realised within 90 (ninety) days of the date of invoice. (iv) Each receivable (other than those due from trade debtors) shown as an asset of the Company in the Delivered Financial Statements is a valid and subsisting debt and the Company will realise the nominal amount of the debt (and all interest and other charges payable) in accordance with its terms. (v) The receivables (other than those owing from trade debtors) owed to the Company at the Closing Date be realised within 90 (ninety) days of the date of invoice. (vi) No receivable owed to the Company has been written down or written off.
Sample 1Sample 2Sample 3See All (10)
AutoNDA by SimpleDocs
Trade Debts. (a) The receivables owing from trade debtors included in the Accounts owed to the Company or the Subsidiaries have been realised or are expected to be realised in a manner consistent with past performance of the Company or the Subsidiaries, as applicable. (b) Each receivable (other than those due from trade debtors) shown as an Asset of the Company or the Subsidiaries in the Accounts is a valid and subsisting debt and is either realised is expected to be realised in accordance with its terms. (c) Since the Accounts Date, no receivable in aggregate not exceeding INR 10,00,000 (Indian Rupees Ten Lakhs) owed to the Company or to the Subsidiaries have been written down or written off.
Sample 1Sample 2Sample 3
Trade Debts. Once all Trade Debts (as defined in the Purchase Agreement) have been settled pursuant the terms and conditions of the Purchase Agreement, Medco shall acquire all of the Participating Interests (as defined in the Joint Operating Agreement) held by Purchaser, so that Medco becomes the direct owner of the Assets (as defined in the Purchase Agreement). Notwithstanding any provision in this Guarantee to the contrary, this Guarantee shall be deemed to have been fully discharged and shall cease to be valid or of any force or effect immediately following acquisition by Medco of the Participating Interests and Vendor shall forthwith thereafter cancel and return the original of this Guarantee to Medco.
Sample 1
Trade Debts. (a) The Trade Debts will remain the absolute property of the Vendor following Completion. (b) The Vendor must provide the Purchaser with a written record of the Trade Debts on or before Completion, listing in respect of each of those Trade Debts the name and address of the party owing the Trade Debt, the amount of the Trade Debt and the due date for payment (“the TD List”). (c) If, after Completion, the Purchaser receives:- (i) any amount which is tendered in payment of a Trade Debt; or (ii) a payment which is not expressly appropriated by the payer in favour of the Vendor or the Purchaser, then the Purchaser must, as soon as reasonably practicable, deposit all such amounts and payments so received into a bank account nominated in writing to the Purchaser by the Vendor. (d) If the Vendor provides notice in writing to the Purchaser that any particular Trade Debt (“Overdue Trade Debt”) has not been paid by a Client (“the Relevant Trade Debtor”) as and when due following Completion the Purchaser will, if requested by the Vendor, place that Relevant Trade Debtor on “stop supply”. This means the Purchaser will not provide to that Relevant Trade Debtor the next Registration Code due thereby precluding on line access to the Relevant Trade Debtor for the supply of support services until payment of the Overdue Trade Debt has been made. In this case the Vendor must immediately notify the Purchaser once payment of the Overdue Trade Debt has been made, and also indemnify the Purchaser in respect of any claims or demands which may be made against the Purchaser by a Relevant Trade Debtor who can establish that at the time the Vendor requested for “stop supply” to be imposed on the basis of a particular Overdue Trade Debt, that Overdue Trade Debt had in fact been paid by the Relevant Trade Debtor to the Vendor in cleared funds.
Sample 1
Trade Debts. All trade debts accounted for as such in any financial document referred to above, are normal trade debts incurred in the normal course of business on normal terms relevant thereto, and are fully payable and not overdue.
Sample 1

Related to Trade Debts

  • Other Debts Not to have outstanding or incur any direct or contingent liabilities or lease obligations (other than those to the Bank), or become liable for the liabilities of others, without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Liabilities, lines of credit and leases in existence on the date of this Agreement disclosed in writing to the Bank.

  • Trade Payables Except to the extent an adjustment or proration is made under another subsection of this SECTION 9.1, (i) the Seller shall pay (or caused to be paid) in full prior to the Closing all amounts payable to vendors or other suppliers of goods or services to the Hotel (the “Trade Payables”) which are due and payable as of the Cut-Off Time for which goods or services have been delivered to the Hotel prior to Closing, and (ii) the Buyer shall receive a credit for the amount of such Trade Payables which have accrued, but are not yet due and payable as of the Cut-Off Time, and the Buyer shall pay all such Trade Payables accrued as of the Cut-Off Time when such Trade Payables become due and payable up to the amount of such credit; provided, however, the Seller and the Buyer shall reprorate the amount of credit for any Trade Payables and pay any deficiency in the original proration to the other party promptly upon receipt of the actual xxxx for such goods or services. The Seller shall receive a credit for all advance payments or deposits made with respect to FF&E, Retail Merchandise, Property and Equipment and Inventories ordered, but not delivered to the Hotel prior to the Closing Date, and the Buyer shall pay the amounts which become due and payable for such FF&E, Retail Merchandise, Property and Equipment and Inventories which were ordered but not delivered prior to Closing.

  • Debts Each party agrees to be separately liable for his or her debts incurred prior to the marriage. During the course of the marriage, both parties shall be responsible for any expenses incurred for the basic necessities of life, such as food, basic clothing needs, shelter, and medical care. With respect to credit card accounts, each party shall retain separate credit card accounts for his or her respective use, if desired.

  • Payment of Debts Contractor must pay all amounts shown as due to the City on the City’s accounts, even if a dispute exists as to the debt’s validity or enforceability.

  • Solvency, Payment of Debts Borrower is able to pay its debts (including trade debts) as they mature; the fair saleable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; and Borrower is not left with unreasonably small capital after the transactions contemplated by this Agreement.

  • Payables Pay when due in accordance with past practices all of its accounts payables and trade obligations;

  • No Insolvent Obligors As of the Cut-off Date, no Obligor on a Receivable is shown on the Receivable Files as the subject of a bankruptcy proceeding.

  • Contracts; Debt Instruments 32 4.12. Litigation........................................................... 32 4.13.

  • Inability to Pay Debts The Borrower or any Restricted Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due;

  • Hedging Contracts No Restricted Person will be a party to or in any manner be liable on any Hedging Contract except: (a) Hedging Contracts (excluding Floor Contracts covered by the following subsection (b)) entered into with the purpose and effect of fixing prices on oil, natural gas, or natural gas liquids expected to be produced by Restricted Persons, provided that at all times: (i) no such Hedging Contract fixes a price for a period later than 60 months after such contract is entered into; (ii) the aggregate monthly production covered by all such contracts (determined, in the case of contracts that are not settled on a monthly basis, by a monthly proration acceptable to Administrative Agent) for any single month does not in the aggregate exceed 85% of Restricted Persons’ aggregate Projected Oil and Gas Production (calculated separately for oil, natural gas, and natural gas liquids) anticipated (at the time such Hedging Contract is entered into) to be sold in the ordinary course of the Restricted Persons’ businesses for such month, determined separately with respect to oil and gas, (iii) except for the Collateral under the Security Documents with respect to Lender Hedging Obligations, no such contract requires any Restricted Person to put up money, assets, or other security against the event of its nonperformance prior to actual default by such Restricted Person in performing its obligations thereunder, and (iv) each such contract is with an Approved Counterparty; (b) Floor Contracts, provided that (i) no such contract has a term of more than 60 months after such contract is entered into, (ii) the aggregate monthly production covered by all such contracts for any single month does not in the aggregate exceed 100% of Restricted Persons’ aggregate Projected Oil and Gas Production anticipated (at the time such Hedging Contract is entered into) to be sold in the ordinary course of the Restricted Persons’ businesses for such month, and (iii) each such contract is with an Approved Counterparty; (c) Hedging Contracts entered into by a Restricted Person with the purpose and effect of fixing interest rates on a principal amount of indebtedness of such Restricted Person that is accruing interest at a variable rate, provided that (i) at the time such Hedging Contract is entered into, the aggregate notional amount of such contracts does not exceed 75% of the anticipated outstanding principal balance of the indebtedness to be hedged by such contracts or an average of such principal balances calculated using a generally accepted method of matching interest swap contracts to declining principal balances, (ii) the floating rate index of each such contract generally matches the index used to determine the floating rates of interest on the corresponding indebtedness to be hedged by such contract and (iii) each such contract is with an Approved Counterparty; and (d) Hedging Contracts entered into by a Restricted Person with the purpose and effect of fixing prices on currency expected to be exchanged (x) from U.S. Dollars into Australian dollars or (y) from Australian dollars into U.S. Dollars, in each case in the ordinary course of the Credit Parties’ business and not for speculative purposes, provided that at all times: (i) no such Hedging Contract fixes a price for a period later than 12 months after such contract is entered into, (ii) the Credit Parties must maintain at all times Cash Equivalents at least equal to the aggregate notional amount of all such contracts, (iii) if any monthly notional amount of currency subject to any such Hedging Contract is on deposit in any Section 1031 tax-deferred exchange account (or other similar restricted account), then such amount must be permanently released from such account or restrictions prior to the date on which the Hedging Contract for such month is settled, (iv) except for the Collateral under the Security Documents with respect to Lender Hedging Obligations, no such contract requires any Restricted Person to put up money, assets, or other security against the event of its nonperformance prior to actual default by such Restricted Person in performing its obligations thereunder, and (v) each such contract is with an Approved Counterparty.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!