Unrecorded Payables Sample Clauses

Unrecorded Payables. The parties anticipate that Sellers will incur trade payables in the ordinary course after Closing which relate to goods delivered to or services performed for the Engineering Division prior to Closing but which were not recorded on Schedule 1.01(b)(5) and the Interim ED Balance Sheet because of non-receipt of invoice or delay in Sellers' internal routing and recording of such payables. Sellers agree that prompt payment of certain of accounts payable that are from utility services (including telephone) or from vendors, subcontractors or suppliers of direct materials related to purchased accounts receivable or work in process (the "Payables in Process") are of material importance to Purchaser, and Sellers accordingly agree to either: (i) pay any Payable in Process within seven (7) days after receipt; or (ii) provide notice to Purchaser within seven (7) days of Sellers' receipt of such Payable in Process and of its intention not to pay it within seven (7) days. If Purchaser then requests Sellers to pay such Payable in Process, Sellers shall use its best efforts to pay the same within seven (7) days. If Sellers are unable to, or otherwise do not, so pay, Purchaser shall be authorized to pursue its rights under Section 1.01(b)(5), and if such remedy is not available, its other rights and remedies under this Agreement. Any dispute between the parties under this section or Section 1.01(b)(5) shall be resolved as provided in Section 2.03(c). - 41 of 49 - 42 V. RELATED AGREEMENTS
Sample 1
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Related to Unrecorded Payables

  • Capital Leases No Covered Person has an interest as a lessee under any Capital Leases other than Capital Leases that are Permitted Indebtedness.

  • Capitalized Lease Obligations Sale and Leaseback Transactions, export credit facilities with a maturity of at least one year and Purchase Money Indebtedness of, including Guarantees of any of the foregoing by, the Issuer and/or any Restricted Subsidiary, in an aggregate principal amount at any one time outstanding not to exceed U.S.$1 billion;

  • Capital Lease Obligations With respect to any Person, the obligations of such Person to pay rent or other amounts under any Capitalized Lease.

  • Accounts Receivable and Payable The accounts receivable reflected on the Financial Statements arose in the ordinary course of business and, except as reserved against on the Financial Statements, are collectible in the ordinary course of business and consistent with past practices, free of any claims, rights or defenses of any account debtor. No accounts payable of the Company are over forty-five (45) days old.

  • Capitalized Leases Leases under which the Borrower or any of its Subsidiaries is the lessee or obligor, the discounted future rental payment obligations under which are required to be capitalized on the balance sheet of the lessee or obligor in accordance with GAAP.

  • Capitalized Lease Obligation 3 Commission................................................................ 4

  • Funded Indebtedness 2 GAAP............................................................ 6

  • Operating Lease Obligations On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).

  • 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.

  • Receivables and Payables Lessee shall be entitled to retain all cash, bank accounts and house banks, and to collect all Gross Revenues and accounts receivable accrued through the termination date. Lessee shall be responsible for the payment of Rent, all Gross Operating Expenses and all other obligations of Lessee accrued under this Lease as of the termination date, and Lessor or Lessor’s nominee shall be responsible for all Gross Operating Expenses of the Hotel accruing after the termination date.

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