Current Accounts Receivable definition

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 means all sums owed to the Company from Customers which are not more than 90 days past due.

Examples of Current Accounts Receivable in a sentence

• Any accounts receivable in excess of the Current Accounts Receivable referred to in 2(a) the “ Excluded Accounts Receivable”) will be retained and collected by Securityholders.

• 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.

• Within ten (10) days following the end of each calendar month, furnish to each Investor a certificate of its chief financial officer that, as of the end of the preceding calendar month, the Current Accounts Receivable exceeded $1,500,000, and specifying the amount of the Current Accounts Receivable as of month end.

• If the Current Accounts Receivable is not enough to achieve One Million Dollars ($1,000,000) of Working Capital then the amount will be offset with cash to complete the One Million Dollars ($1,000,000) of Working Capital to be delivered to Focus Universal.

• Within one (1) business days before the Closing, Securityholders will delivery to Focus Universal a schedule of all Current Accounts Receivable and Excluded Accounts Receivable.

More Definitions of Current Accounts Receivable

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 has the meaning set forth in Section 11.3(b).

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 the Accounts Receivable excluding such Accounts Receivable outstanding more than 90 days from the date of invoice.

Current Accounts Receivable means Accounts Receivable whose invoice date is less than ninety (90) days before the Closing Date.

Current Accounts Receivable means an amount equal to the lesser of (i) the aggregate of all amounts due from clients to Intagio as of the Closing Date from accounts marked as either “Active,” “Restricted,” or “Sales Restricted” on Exhibit A, to the extent such accounts are either current or are no more than 90 days past due, or (ii) $150,000.

Current Accounts Receivable means accounts receivable that are current within the applicable Seller’s terms and do not exceed 45 days.