Uncollectible Receivables Sample Clauses

Uncollectible Receivables. Without limitation, a Receivable shall be deemed to be uncollectible ("Uncollecttble Receivable") upon the earlier of any of the following events: 9.3.1.1
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Uncollectible Receivables. Before the occurrence of an Accelerated Amortisation Event, the Seller shall be entitled to request the Management Company to transfer back to it (without penalty) any Purchased Receivable which is an Uncollectible Receivables, together with their related Ancillary Rights. The transfer back to the Seller of the Uncollectible Receivables identified in the relevant request, together with their related Ancillary Rights, shall take place on the Payment Date following the delivery of such request. The purchase price of the Uncollectible Receivables repurchased by the Seller shall be the value of such Uncollectible Receivables, as registered in the balance sheet of the Compartment, provided that the Management Company and the Seller can also negotiate and agree any other purchase price.
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Uncollectible Receivables. All Receivables specified in the books and records of the Seller are collectable completely in the ordinary course of the Seller's business.
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Uncollectible Receivables. Buyer may assign to the Shareholders any and all receivables that the Buyer reasonably determines are uncollectible after the Closing Date (the "Uncollectible Receivables"). In exchange for the assignment of Uncollectible Receivables to the Shareholders, the Shareholders shall pay to Buyer (on a pro rata basis) the total face amount of the Uncollectible Receivable. All Uncollectible Receivables are not subject to the indemnification limitations set forth in Section 10.5. and shall be handled solely through the mechanisms set forth in this Section 7.5 or through the right of offset in Section 2.5. PROFIT SHARING PLAN. Following the Closing, the Shareholders, the Company and the Buyer shall take such steps as are necessary to terminate the Plan consistent with applicable law. The Shareholders hereby assume all liabilities and obligations the Company, the Buyer and any of their employees, officers, directors or agents have or may have relating to the Plan, and the Shareholders, severally and not jointly, shall indemnify and hold harmless the Company, the Buyer and any of their employees, officers, directors or agents against any and all costs, liabilities and expenses relating to the Plan and its termination, including but not limited to attorneys' fees and costs in defending against any such costs, liabilities or expenses.
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Uncollectible Receivables. The parties recognize that it may be difficult to collect certain of the Receivables. At any time, Digimedics may indicate in writing to Continental that it is not able to collect a Receivable for which customer work has been completed at which point Digimedics will be relieved from any obligation to collect such Receivable, which obligation will fall to Continental. In any event, should Digimedics not be able to collect a Receivable within twelve (12) months after Digimedics has completed the work Continental is contracting with Digimedics to do under paragraph 2 below, then Continental may by written notice require that Digimedics cease its efforts and be relieved from any obligation to collect such Receivable, which obligation will fall to Continental. In the event the obligation to collect a Receivable falls on Continental, then whatever amount Continental collects shall be for the sole benefit of Continental.
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Uncollectible Receivables. (a) The Buyer shall promptly assign each Receivable to the Seller upon the end of the 120-day period following the Closing Date.
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Uncollectible Receivables. General Dynamics undertakes to hold the Fund harmless from any risk of loss due to uncollectibility of General Dynamics Receivables or Affiliate Receivables. Should any General Dynamics Receivables or Affiliate Receivables be determined in accordance with General Dynamics's or such Qualified Affiliate's normal business practices to be uncollectible, such receivable shall no longer be deemed to be an Eligible Receivable, and accordingly, the General Dynamics Percentage or the Affiliate Percentage in the remaining General Dynamics Receivables or such Affiliate Receivables, as appropriate, shall be increased in compensation therefor.
Sample 1
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Related to Uncollectible Receivables

  • Reassignment of Ineligible Receivables (a) In the event any representation or warranty under Subsection 4.02(a)(ii), (iii), (iv), (vi), (vii) or (viii) is not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and as a result of such breach RFC III is required under Subsection 2.05(a) of the Pooling and Servicing Agreement to accept reassignment of such Receivables previously sold by Centurion to RFC III pursuant to this Agreement, Centurion shall accept reassignment of such Receivables on the terms and conditions set forth in Subsection 6.01(b).

  • Eligible Receivables Each Receivable included as an Eligible Receivable in the calculation of the Net Receivables Pool Balance as of any date is an Eligible Receivable as of such date.

  • Receivables (a) Other than in the ordinary course of business consistent with its past practice, such Grantor will not (i) grant any extension of the time of payment of any Receivable, (ii) compromise or settle any Receivable for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any Receivable, (iv) allow any credit or discount whatsoever on any Receivable or (v) amend, supplement or modify any Receivable in any manner that could adversely affect the value thereof.

  • Reassignment of Purchased Receivables Upon deposit in the Collection Account of the Purchase Amount of any Receivable repurchased by Seller under Section 5.1 hereof, Purchaser and the Issuer shall take such steps as may be reasonably requested by Seller in order to assign to Seller all of Purchaser’s and the Issuer’s right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to Purchaser and the Issuer directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of Purchaser or the Issuer. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Seller may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Issuer shall, at the expense of Seller, take such steps as Seller deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser’s or in the Issuer’s name.

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account.

  • Accounts Receivables Each existing Account constitutes, and each hereafter arising Account will, when such Account arises, constitute, the legally valid and binding obligation of the Account Debtor, except where the failure to do so could not reasonably be expected, individually or in the aggregate, to materially adversely affect the value or collectability of the Accounts included in the Collateral, taken as a whole. No Account Debtor has any defense, set-off, claim or counterclaim against any Grantor that can be asserted against the Administrative Agent, whether in any proceeding to enforce the Administrative Agent’s rights in the Accounts included in the Collateral, or otherwise, except for defenses, setoffs, claims or counterclaims that could not reasonably be expected, individually or in the aggregate, to materially adversely affect the value or collectability of the Accounts included in the Collateral, taken as a whole. None of the Grantors’ accounts receivables are, nor will any hereafter arising account receivable be, evidenced by a promissory note or other Instrument (other than a check) that has not been pledged to the Administrative Agent in accordance with the terms hereof.

  • No Delinquent Receivables As of the Cutoff Date, no payment due under any Receivable was more than 30 days past due.

  • Accounts Receivable; Inventories The accounts receivable of Seller reflected in the Unaudited Financial Statements and the accounts receivable aging report set forth in Schedule 5.21, as well as such additional accounts receivable as are reflected on the books of Seller on the date hereof, are (except to the extent reserved in accordance with GAAP) valid, genuine and subsisting, arise out of bona fide sales and deliveries of goods, performance of services or other business transactions and to Seller's Knowledge, are not subject to defenses, deductions, set-offs or counterclaims. The inventories reflected on the Unaudited Financial Statements and held by Seller on the date hereof, net of reserves therefor in accordance with GAAP, are usable or saleable in the ordinary course of Business. Such inventories have been reflected on the Unaudited Financial Statements at the lower of cost or market value (taking into account the usability or salability thereof) in accordance with GAAP. None of such inventories have been written up in value or repurchased by, or returned to, Seller at an increased value. All such inventories are owned free and clear and are not subject to any Lien except to the extent reserved against or reflected in the Financial Statements. Since the Financial Statement Date, inventories of raw materials, supplies and products have been purchased by Seller in the ordinary course of the Business, consistent with anticipated seasonal requirements, and the volumes of purchases thereof and orders therefor have not been reduced or otherwise changed in anticipation of the transactions contemplated by this Agreement. Except as set forth in Schedule 5.21 hereto, Seller does not have any Knowledge of any conditions affecting the supply of materials or products available to Seller and, to the Knowledge of Seller, the consummation of the transactions contemplated hereby will not adversely affect any such supply.

  • Accounts Receivable All accounts receivable of the Acquired Companies that are reflected on the Balance Sheet or the Interim Balance Sheet or on the accounting records of the Acquired Companies as of the Closing Date (collectively, the "Accounts Receivable") represent or will represent valid obligations arising from sales actually made or services actually performed in the Ordinary Course of Business. Unless paid prior to the Closing Date, the Accounts Receivable are or will be as of the Closing Date current and collectible net of the respective reserves shown on the Balance Sheet or the Interim Balance Sheet or on the accounting records of the Acquired Companies as of the Closing Date (which reserves are adequate and calculated consistent with past practice and, in the case of the reserve as of the Closing Date, will not represent a greater percentage of the Accounts Receivable as of the Closing Date than the reserve reflected in the Interim Balance Sheet represented of the Accounts Receivable reflected therein and will not represent a material adverse change in the composition of such Accounts Receivable in terms of aging). Subject to such reserves, each of the Accounts Receivable either has been or will be collected in full, without any set-off, within ninety days after the day on which it first becomes due and payable. There is no contest, claim, or right of set-off, other than returns in the Ordinary Course of Business, under any Contract with any obligor of an Accounts Receivable relating to the amount or validity of such Accounts Receivable. Part 3.8 of the Disclosure Letter contains a complete and accurate list of all Accounts Receivable as of the date of the Interim Balance Sheet, which list sets forth the aging of such Accounts Receivable.

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