Current Accounts Receivable definition
Current Accounts Receivable means all sums owed to the Company from Customers which are not more than 90 days past due.
Current Accounts Receivable means $809,384.56, which is the current accounts receivable amount owed by Borrower to DE and unpaid as of the Closing Date.
Current Accounts Receivable means (i) any Accounts Receivable which, whether or not set forth in the aging report attached to Schedule 3.22(a) or the Accounts Receivable Schedule delivered pursuant to Section 5.2(a), originated (including by issuance of an invoice) on or after December 1, 2024, and (ii) any Comingled Accounts Receivable.
Examples of Current Accounts Receivable in a sentence
For example, if the Closing Date is October 15, Current Accounts Receivable would include accounts receivable and any unbilled amounts relating to services rendered, in each case, for dates of service beginning August 1.
The Buyer will also verify the amount of Cash and Cash Equivalents, Current Accounts Receivable, Deferred Revenues and Other Liabilities as of the Closing Date.
Example 1: If the Estimated Accounts Receivable and the Current Accounts Receivable reflected in the Closing AR Schedule equal or exceed $16,000,000, no further adjustment to the Purchase Price will be made (Purchaser having paid $95,000,000 on the Closing Date).
For example, if the Current Accounts Receivable outstanding at the Effective Time are $15,000,000, the Purchase Price shall be reduced by $1,000,000 ($16,000,000 minus $15,000,000).
Seller will immediately upon receipt forward to Buyer any and all monies received or collected by the Seller on or after the Closing Date related to Customers and/or the Current Accounts Receivable.
More Definitions of Current Accounts Receivable
Current Accounts Receivable means all accounts receivable of the Company and its Subsidiaries outstanding as of the Closing Date and less than 90 days past due that are owed to the Company and its Subsidiaries by customers determined in accordance with GAAP (net of reserves), which are set forth on the Adjusted Net Cash Amount Certificate.
Current Accounts Receivable means accounts receivable of the Group Companies that are aged 120 days or less as of the Closing Date.
Current Accounts Receivable has the meaning set forth in Section 11.3.2.
Current Accounts Receivable has the meaning set forth in Section 10.2(b) of this Agreement.
Current Accounts Receivable means all Accounts Receivable within the 89 calendar days preceding the date hereof. “Disclosure Schedule” has the meaning set forth in Article 3 below. “Employees” means the employees of the Business. “Environmental Law” means a legal rule pertaining to land use, air, soil, surface water, groundwater (including the protection, cleanup, removal, remediation or damage thereof), public or employee health or safety or any other environmental matter, including, without limitation, the following laws as the same have been amended from time to time: (i) Clean Air Act (42 U.S.C. § 7401, et seq.); (ii) Clean Water Act (33 U.S.C. § 1251, et seq.); (iii) Resource Conservation and Recovery Act (42 U.S.C. § 6901, et seq.); (iv) Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. § 9601, et seq.); (v) Safe Drinking Water Act (42 U.S.C. § 300f, et seq.); and (vi) Toxic Substances Control Act (15 U.S.C. § 2601, et seq.); (vii) Rivers and Harbors Act (33 U.S.C. § 401, et seq.); together with all other legal rules regulating emissions, discharges, releases or threatened releases of any hazardous substance into ambient air, land, surface water, groundwater, personal property or structures, or otherwise regulating the manufacture, processing, distribution, use, treatment, storage, disposal, transport, discharge or handling of any hazardous substance. 4 “Excluded Liabilities” means all liabilities of PTI of any nature whatsoever and wherever situated not included in “Included Liabilities”, including without limitation: (a) bank lines of credit, accrued liabilities and any liabilities or obligations that should have been paid prior to the Closing Date in PTI’s ordinary course of business relating to any employee, any Plan, any employee benefits or commissions, salaries, wages or other compensation arrangements existing on or prior to the Closing Date with respect to PTI or the Business; (b) any Taxes of PTI and any other Taxes accruing on or prior to the Closing Date; (c) any liabilities relating to any current pending or threatened litigation, arbitration or any other Proceeding against PTI or any future litigation, arbitration or Proceeding relating to the Acquired Assets to the extent related to events occurring prior to the Closing Date; (d) any liabilities arising out of any violation of Environmental Law; (e) any liabilities for legal fees and expenses of PTI related to the transactions contemplated hereby. (f) any amount due related to life i...
Current Accounts Receivable means those domestic consolidated receivables of the Companies, for inventory sold or services rendered in the ordinary course of business, payable in cash and the customer's full balance is outstanding less than 121 days after the first invoice date.
Current Accounts Receivable means those accounts receivable that as of the Closing are fewer than sixty (60) days old and excluding any receivables as to which Company has reason to suspect that collection is unlikely.