Good Accounts Receivable means accounts receivable excluding (i) the entire amount of accounts, any portion of which is outstanding more than 90 days after billing date, provided that the under 90 day portion may be included where the Bank has designated such portion as nevertheless good, (ii) all amounts due from any affiliate, (iii) bad or doubtful accounts, (iv) accounts subject to any security interest or other encumbrance ranking or capable of ranking in priority to the Bank's security, (v) accounts subject to all holdbacks, contra accounts or rights of set-off on the part of any account debtor, or (vi) any accounts which the Bank advises the Borrower to be ineligible;
Good Accounts Receivable means trade accounts receivable of the Borrower owing by Persons whose chief operating activities are located in Canada excluding EDC Accounts Receivable and excluding (i) the entire amount of accounts, any portion of which is outstanding more than 60 days after billing date, provided that the under 60 day portion may be included where the over 60 day portion is less than 10% of the amount of accounts, or where the Bank has designated such portion as nevertheless good, (ii) all amounts due from any affiliate, (iii) bad or doubtful accounts, (iv) accounts subject to any security interest or other encumbrance ranking or capable of ranking in priority to the Bank’s security, (v) the amount of all holdbacks, contra accounts or rights of set-off on the part of any account debtor, (vi) accounts receivable relating to account debtors not domiciled in jurisdictions approved by the Bank (except where supported by Letters of Credit or Export Insurance) or (vii) any accounts which the Bank has previously advised to be ineligible;
Good Accounts Receivable means NLEC's bona fide claims against ------------------------ debtors for services performed or other charges arising within 180 days prior to the Closing Date, including all equipment lease receivables, and that all ser- vices performed which gave rise to said accounts were performed in accordance with the applicable contracts or customer requirements; and that said accounts receivable are subject to no defenses, counterclaims or rights of setoff and are fully collectible in the ordinary course of business and in all events within 180 days after such accounts receivable arose, consistent with past practices, without cost to Buyer in collection efforts therefor. "Good New Inventory" shall consist only of NLEC's Machines and Equipment ------------------ used in connection with the Business of quality and quantity commercially usable and salable in the ordinary course of business and purchased by Seller no more than 270 days prior to the Closing Date.
Examples of Good Accounts Receivable in a sentence
Possession and control of the Specified Assets, including, without limitation, all of the Good Inventory, Good Accounts Receivable, and all of the Boss Supplemental Assets.
The Accounts Receivable ---------------------------- Schedule shall identify which of the accounts receivable are Good Accounts Receivable.
All Good Inventory sold for cash, C.O.D. or via credit card and Good Accounts Receivable collected after the Effective Date, (the “Additional Cash”) shall be reduced for expenses for rent paid, for employees and other goods and services used to support the normal and customary business operations of the BOSS Division, as reasonably agreed upon by Buyer and Seller (the “Additional Expenses”).
Within 5 days after the Reconciliation Date of the Final Quarter, Buyer shall assign to Sellers or Sellers' designee any Good Accounts Receivable not collected as of such date.
If, at the end of the final Quarter in the 12- month period after the Closing Date (the "Final Quarter"), the aggregate amount ------------- of the Collections is less than the Good Accounts Receivable Payment, Sellers shall pay such deficient amount to Buyer within 5 days of the Reconciliation Date of such final Quarter.
More Definitions of Good Accounts Receivable
Good Accounts Receivable shall have the definition set forth in Section 2.1.1.1(B).
Good Accounts Receivable means all the Accounts Receivable derived from the operation of the Boss Division, excluding those (1) that are more than 60 days old; (2) for which the corresponding customer has raised any claim or defense to the payment; (3) for which Seller has reasonable grounds to believe that the corresponding customer will raise a claim or defense to payment provided that the underlying reason for such claim or defense arose prior to the Closing Date; or (4) for which Seller has recognized or booked on their “Allowance for Bad Debt” account schedule. For the avoidance of doubt, Good Accounts Receivable shall include accounts receivable generated by the Boss Division subsequent to the Effective Date from the sale of Good Inventory.
Good Accounts Receivable means unencumbered accounts receivable of Borrower from Canadian [or U.S. if permitted by AFC] debtors excluding (i) bad or doubtful accounts; (ii) all amounts due from any affiliate, (iii) the entire amount of accounts, any portion of which is outstanding more than 90 days after billing date, provided that the under 90 day portion may be included where the over 90 day portion is less than 10% of the entire account, and provided that the entire account may be included where Xxxxxx has nevertheless designated the account as good, (iv) the amount of all holdbacks or contra accounts, and (v) any accounts which Xxxxxx has previously advised to be ineligible.
Good Accounts Receivable means accounts receivable of the Borrower excluding (i) the entire amount of accounts receivables, any portion of which is outstanding more than 90 days after billing date, (ii) all amounts due from any affiliate, including the Parent Company and all subsidiaries of the Parent Company or Borrower, (iii) bad or doubtful accounts, (iv) the amount of any holdbacks, contra accounts or rights of set-off on the part of any account debtor, or (v) any accounts which the Bank has previously advised to be ineligible.
Good Accounts Receivable means accounts receivable excluding (i) the entire amount of accounts, any portion of which is outstanding more than 90 days after billing date, provided that the under 90 day portion may be included where the Bank has designated such portion as nevertheless good (which shall include those on which no more than 5% of the amount of the account has been outstanding for more than 90 days), (ii) all amounts due from any affiliate, (iii) bad or doubtful accounts, (iv) accounts subject to any security interest or other encumbrance ranking or capable of ranking in priority to the Bank's security, (v) accounts subject to all holdbacks, contra accounts or rights of set-off on the part of any account debtor, or (vi) any accounts which the Bank advises the Borrower to be ineligible;"
Good Accounts Receivable means accounts receivable of the Borrower excluding (i) the entire amount of accounts, any portion of which is outstanding more than 90 days after billing date (or 120 days according to the EDC policy), provided that the under 90 day portion (or 120 days according to the EDC policy) may be included where the Bank has designated such portion as nevertheless good, (ii) all amounts due from any affiliate, (iii) bad or doubtful accounts, (iv) accounts subject to any security interest or other encumbrance ranking or capable of ranking in priority to the Bank's security, (v) the amount of all holdbacks, contra accounts or rights of set-off on the part of any account debtor, or (vi) any accounts which the Bank has previously advised to be ineligible;
Good Accounts Receivable means accounts receivable of the Borrowers excluding (i) Thomas Equipment Receivables, (ii) the entire amount of accounts, any portion of which is outstanding more than 90 days after billing date, provided that the under 90 day portion may be included where the over 90 day portion is less than 10% of the amount of accounts, or where the Bank has designated such portion as nevertheless good, and provided that the entire amount of accounts owing by Camoplast Inc. will be excluded where any portion of such accounts is outstanding more than 140 days from billing date, (iii) all amounts due from any affiliate, (iv) bad or doubtful accounts, (v) accounts subject to any security interest or other encumbrance ranking or capable of ranking in priority to the Bank's security, (vi) the amount of all holdbacks, contra accounts or rights of set-off on the part of any account debtor, or (vii) any accounts which the Bank has previously advised to be ineligible;