Current Receivables definition
Current Receivables means (a) all obligations of the trade debtors of the Owner due or owing to the Owner on account of the prevailing debit balances of the present book debts of the Owner and (b) all rights relating to the aforesaid property specified in clause (a), including, INTER ALIA, negotiable instruments, legal and equitable charges, reservations of property rights, rights of action, collection, recovery or security, rights of tracing an unpaid vendor's liens and similar and associated rights (and each reference to a "Current Receivable" shall be construed as a reference to the whole or any part of any one or more of them).
Current Receivables means only those Accounts Receivable that are outstanding for 60 days or less.
Current Receivables means, as of 11:59 p.m. on the calendar day prior to the Test Date or the Closing Date, as applicable, all receivables due from customers for (A) each payday loan or advance (i) made in the ordinary course of business; (ii) that is then less than five (5) days past its initial contractual payment due date; (iii) for which the customer check or ACH authorization has not been presented or deposited by the applicable Seller or returned or otherwise denied by the bank; and (iv) has not been or should not be re-aged or written-off using the aging and write-off rules and related business policies and accounting practices of the applicable Seller; and (B) each installment loan (i) made in the ordinary course of business; (ii) that is then less than six (6) days past an unpaid contractual payment due date; (iii) for which the customer check or ACH authorization has not been presented or deposited by the applicable Seller or returned or otherwise denied by the bank; and (iv) has not been or should not be re-aged or written-off using the aging and write-off rules and related business policies and accounting practices of the applicable Seller. For purposes of clarity, Current Receivables excludes any voided or rescinded loans where the customer has repaid the loan. The calculation of Current Receivables shall be made using the SQL scripts required to produce the output for the period of June 2, 2011 through July 1, 2011, as set forth on Schedule 2.04, subject to normal and customary deviations due to changes in historical data.
Examples of Current Receivables in a sentence
All loans secured by mortgage are recorded under Current Receivables, as they have been advanced on the basis that they are recoverable in full within 30 days of service by the mortgagee of written demand.
Data were validated using double entry comparison (SAS Proc Compare).
A footnote also includes an analysis of (the same) Net Current Receivables including, among other details, amounts for Gross and Allowances.
Current Receivables: Current receivables are £12.2m at 30th April 2017, £6.6m below plan.
The results of this practice would increase the risk of company default and consequently the higher the probability of bankruptcy loans to the Non- Current Receivables and as a result it would lead to higher bankruptcy risk and further instability.
More Definitions of Current Receivables
Current Receivables means Receivables represented by
Current Receivables means, as at any date with respect to any Person, the aggregate amount of all accounts (as defined in the Uniform Commercial Code) of such Person arising from the sale by such Person of Inventory in the ordinary course of its business and which accounts are not subject to any Lien, other than the following accounts (determined without duplication):
Current Receivables has the meaning given to such term in Section 6.2 of this Agreement.
Current Receivables means all Accounts meeting all of the following criteria as of the date of any determination of Current Receivables: (a) the Account shall be (1) due and payable not more than 120 days from the date of the invoice or agreement evidencing same and (2) billed within 30 days after the shipment of the goods or rendering of services giving rise to the Account; (b) the Account shall arise from the performance of services by the obligee of the Account which have been fully and satisfactorily performed, or from the absolute sale of goods by the obligee of the Account in which such obligee had the sole and complete ownership, and the goods have been shipped and delivered to the Account debtor, evidencing which such obligee has possession of shipping documents and/or evidence of shipping, delivery or customer pick-up; (c) the Account is not subject to set-off, counterclaim, defense, allowance or adjustment other than discounts for prompt payment shown on the invoice, or to dispute, objection or complaint by the Account debtor concerning its liability on the Account, and the goods, the sale of which gave rise to the Account, have not been returned, rejected, lost or damaged, and (d) the Account arose in the ordinary course of business of the obligee thereon, and no notice of bankruptcy or insolvency of the Account debtor has been received by the obligee of such Account.
Current Receivables is defined in Section 4.5(b).
Current Receivables has the meaning set forth in the Transaction Accounting Principles.
Current Receivables. As used herein, the term "Current Receivables" shall mean each of the Receivables that are Current Assets.