Seller Accounts definition

Seller Accounts shall have the meaning set forth in Section 5.4.11

Seller Accounts means the accounts receivable of Seller as of the close of business on the Business Day immediately prior to the Closing Date (which shall include any accounts receivable arising out of any testing performed in the conduct of the Business with a final report date that is on or prior to such Business Day).

Seller Accounts means all Sears Portfolio Accounts the receivables in which have been transferred from Sears to the Seller pursuant to the Purchase Agreement, the Contribution Agreement or the Receivables Warehouse Agreement.

Examples of Seller Accounts in a sentence

• At the closing, Seller and its Subsidiaries shall appoint ATS its agent for the purpose of collecting all Accounts Receivable relating to the Seller Business (the "Seller Accounts Receivable").

• ATS shall not be obligated to use any extraordinary efforts to collect any of the Seller Accounts Receivable assigned to it for collection hereunder or to refer any of such Seller Accounts Receivable to a collection agency or to any attorney for collection, and ATS shall not make any such referral or compromise, nor settle or adjust the amount of any such Seller Accounts Receivable, except with the approval of Seller.

• Any payment received by ATS during the Collection Period from any customer with an account which is a Seller Accounts Receivable shall first be applied in reduction of the Seller Accounts Receivable, unless the customer contests the validity of such application.

• ATS shall use the same procedures and efforts which it uses with respect to its own accounts receivable to collect the Seller Accounts Receivable for a period of one hundred twenty (120) days after the Closing Date (the "Collection Period").

• Subject to and limited by the following, revenues relating to the Seller Accounts Receivable will be for the account of Seller and the Seller Subsidiaries.

More Definitions of Seller Accounts

Seller Accounts means any of the bank accounts notified to the Purchaser by any Seller for any payments due to the Sellers under the relevant Receivables Purchase Agreement or Servicing Agreement.

Seller Accounts means the audited accounts of the Seller for the financial year which ended on the Accounting Date, comprising a consolidated balance sheet, consolidated statement of operations and comprehensive loss, consolidated statement of shareholder’s deficit, consolidated statement of cash flows, management’s discussion and analysis of financial condition and results of operations and auditors’ report, all in accordance with US GAAP;

Seller Accounts has the meaning set forth in Section 1.5(c).

Seller Accounts has the meaning set forth in Section 1.2(d).

Seller Accounts means all bank accounts that Seller uses for maintaining its Cash or to which it instructs Insurance Companies to make commission payments.

Seller Accounts has the meaning set forth in Section 9.6.

Seller Accounts has the meaning given to such term in clause 3.1.3.