Daily Receipts definition

Daily Receipts means all amounts received by the Borrower and the Subsidiary Guarantors, whether in the form of cash, checks, any moneys received or receivable in respect of charges made by means of credit cards, and other negotiable instruments, in each case as a result of the sale of Inventory.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Daily Receipts means all amounts received by the Grantors, whether in the form of cash, checks, any moneys received or receivable in respect of charges made by means of credit cards, and other negotiable instruments, in each case as a result of the sale of Inventory or in respect of Accounts Receivable.

Daily Receipts the amount of Future Receipts (as defined below) received by Seller on a daily basis;

Examples of Daily Receipts in a sentence

Each Grantor shall use all reasonable efforts to prevent any funds that are not Daily Receipts from being deposited into, or otherwise commingled with, the funds held in the Collection Deposit Accounts or the Cash Concentration Accounts.
The amount of the Scheduled Remittance is calculated based upon the information concerning an average amount of Daily Receipts collected by the Seller’s business immediately prior to the Effective Date of this Agreement, as well as representations regarding the Seller’s estimated Future Receipts provided by the Seller to the Purchaser.
The amount of Seller’s future Daily Receipts may increase or decrease over time.
If at any time during the term of this Agreement Seller shall experience unforeseen decreases to their Daily Receipts, the Seller shall have the right, at its sole and absolute discretion, to request a modification to their Scheduled Remittance.
At such time as the Replacement Carrier’s Average Daily Receipts are at least ****% of Contractor’s Average Daily Receipts, then from that day and thereafter the Daily United Lost Receipts will be reduced to zero.
The amount of Seller's future Daily Receipts may increase or decrease over time.
Borrowers may not use any of the Daily Receipts or any other amounts at any time received by any of the Borrowers, whether into the Borrower Account or any other accounts of any of the Borrowers, for any purpose, unless and until such Daily Receipts and other amounts first get deposited into the Borrower Account, and such amounts are then swept into the Lock Box Account.
If at any time during the term of thi s Agreement Seller shall experience unforeseen decreases to their Daily Receipts, the Seller shall have the right, at its sole and absolute discretion , to request a modification to their Scheduled Remittance.
A request for a Loan may only be made if no default or Event of Default shall have occurred or be continuing and shall be subject to Lender’s review and acceptance of the amount and type of Accounts that are to be Eligible Accounts, the amounts of Daily Receipts being historically swept into the Lock Box Account and the value of the Collateral.
To the extent that on any Business Day it has established a Collection Deposit Account which is reasonably convenient for the deposit of the Daily Receipts from each location at which it conducts business, each Operating Grantor shall deposit such Daily Receipts in such Collection Deposit Account on a daily basis.

More Definitions of Daily Receipts

Daily Receipts means the amount of Future Receipts received by Seller on a daily basis.

Daily Receipts means all amounts received by the Borrowers and their -------------- Subsidiaries, whether in the form of cash, checks, any moneys received or receivable in respect of charges made by means of credit cards, and other negotiable instruments on account of goods sold or services delivered. Funds received solely as a matter of administrative convenience or necessity (so-called "pass throughs") shall not be considered as Daily Receipts.

Daily Receipts means the amount of Future Receipts received by Seller on a daily basis . d. “ Purchased Amount ” shall mean the total amount of the Specified Percentage of the Future Receipts that Seller shall be under obligation to deliver and pay over to Buyer pursuant to this Agreement . The Purchased Amount shall be the amount set forth under “Purchased Amount” in the preamble to this Agreement .

Daily Receipts means all revenues, receipts, receivables, collections or any other funds at any time received by any of the Borrowers in connection with any of their respective businesses, operations or from any other source.