Examples of Assumed Payables in a sentence
On the tenth (10th) day of each month, the Buyer shall provide the Seller with an accounting of the Accounts Receivable collected by the Buyer and the Assumed Payables paid by the Buyer during the preceding calendar month.
If the Accounts Receivable collected by the Buyer are less than the Assumed Payables paid by the Buyer during such one hundred eighty (180) day period, the Seller shall send a check payable to the Buyer for the amount of such deficiency within ten (10) days after receiving the final monthly accounting from the Buyer.
The Buyer shall collect the Accounts Receivable and shall pay the Assumed Payables in the Ordinary Course of Business for one hundred eighty (180) days after the Closing.
Buyer agrees to pay and discharge in the ordinary course all such Assumed Payables and, upon request, provide evidence of such payment to Seller.
If the Accounts Receivable collected by the Buyer exceeds the Assumed Payables paid by the Buyer during such one hundred eighty (180) day period, the Buyer shall include a check payable to the Seller for the amount of such excess with the final monthly accounting due one hundred ninety (190) days after the Closing.