Disputed Account definition

Disputed Account means: (i) an Account wherein any Responsible Party has sought protection under the Bankruptcy Act; (ii) an Account wherein any Responsible Party is deceased; (iii) an Account that has been recalled by Hospital; (iv) an Account wherein any Responsible Party has retained legal counsel, threatened or initiated legal action against IFS or the Hospital; (v) Account wherein, after reasonable effort, any Responsible Party cannot be located; (vi) an Account wherein fraud is reasonably suspected; (vii) any other Account that IFS determines to be uncollectible; and (viii) an Account that is determined to qualify for charity or indigent care.

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Disputed Account means any Account for which ▇▇▇▇▇▇▇▇ are under investigation by the Loan Parties, including without limitation, (x) Accounts subject to rebates made from vendors to a Loan Party, which rebates are passed through to the Account Debtor of such Loan Party that correspond with such Accounts, and (y) Accounts of the Borrower that are subject to any counterclaim, deduction, defense or dispute. Disputed Accounts shall not include Accounts owing from certain Account Debtors disclosed to the Administrative Agent prior to the Closing Date that pay by end customer purchase order or stock keeping unit instead of by invoice.

Disputed Account means an Account: (a) as to which any Responsible Party has sought protection under the federal Bankruptcy Code or any similar state law; (b) owed by any Responsible Party who is deceased; (c) that has been recalled by Hospital; (d) as to which any Responsible Party has threatened or initiated legal action against IFS or Hospital; (e) wherein, after reasonable effort, any Responsible Party cannot be located; (f) wherein fraud is reasonably suspected; (g) that IFS determines to be uncollectible; (h) that is determined to qualify for charity or indigent care; (i) as to which the Responsible Party disputes the nature, quality, quantity, use or fitness of the services rendered and/or goods sold by Hospital, or alleges that Hospital has breached the terms of the contract of service or sale, or disputes that the contract of service or sale was entered into by the Responsible Party; (j) not submitted by Hospital for Settlement; and (k) arising from use of an IFS issued Hospital Revolving Credit Card that is not a Valid Hospital Revolving Credit Card.

Examples of Disputed Account in a sentence

• Without losing our rights under this Agreement, we may accept late payments, partial payments and payments marked “payment in full” that are not sent to the address set forth below Risk Management Representative – Payment on Disputed Account 8.

• As used herein, the term "Disputed Account" shall mean any Account subject to any deduction, defense, offset or claim asserted by the subject account debtor, regardless of whether Seller agrees with such assertion.

• To the extent that on the First Closing Date, any such account payable other than a Disputed Account Payable has not been paid within 60 days of its Due Date, the Buyer may make such payments directly to the applicable payee and debit the amounts so paid from the cash portion of the Initial Purchase Price.

• Further, with respect to those Accounts as to which the customer has asserted some defense, setoff or other claim that the Account is not due and payable ("Disputed Accounts"), Buyer shall not be obligated to apply payments received from such customer against the Disputed Account.

• Any shares in the Disputed Account which are not the subject of such joint instructions or order shall remain in the Disputed Account until such joint instruction or order has been received.

• If, following the Closing, the Company or any Subsidiary shall receive written evidence of a Disputed Account Receivable from the customer that is the debtor with respect thereto, the Company shall provide to the Seller a copy of such written evidence within 45 days of the Company's or such Subsidiary's receipt thereof.

• For all purposes hereunder and under the Escrow Agreement, the amount of any claim by Sanwa under the Indemnity Agreement shall be treated in the same manner as an uncollectible Receivable and as a Disputed Account (as that phrase is defined in the Escrow Agreement).

• If the actual or estimated amount in the Claim Notice is less than the then value of the Escrow Property, the parties will agree upon which type of Escrow Property will be set aside in any Disputed Account.

• All amounts received from Customers having a Disputed Account will be applied to the Customer's account as directed by the Customer or as directed by the final order of a court or arbitrator or the binding direction of any other tribunal.

• The Escrow Agent shall take no action with respect to the amounts deposited in the Disputed Account and such amounts shall continue to be held in accordance with the provisions of this Agreement except (i) upon the joint written instructions of the Principal Stockholder, the Executive and Paladyne, or (ii) upon a final non-appealable order (or an order from which the time to appeal has expired) of a court of competent jurisdiction.

More Definitions of Disputed Account

Disputed Account means any Account subject to any deduction, defense, offset or claim asserted by the subject account debtor, regardless of whether Seller agrees with such assertion.

Disputed Account has the meaning set forth in Section 8.3 of this Agreement.