Third Party Receivables definition
Examples of Third Party Receivables in a sentence
With respect to the Unpaid Third Party Receivables assigned to Seller or its designee, Seller and any designee shall be free to institute such collection efforts, including, without limitation, initiating such legal proceedings with respect thereto as it or they shall determine; provided that Seller and any such designee shall exercise reasonable care to avoid causing damage to Purchaser's relationships with such clients, customers and other obligors.
The Third Party Receivables of the EU Business ("EU Receivables") are valid and enforceable claims against customers for goods or services delivered or rendered in the ordinary course of business consistent with past practice.
Purchaser agrees to cooperate with Seller and its designees to provide access to records to assist in the collection, rebilling and auditing (by Seller or its representatives) of the Third Party Receivables.
Any payments received by the Company or its successors and assigns after the Closing Date from any client, customer or other party who is an obligor on any Third Party Receivables transferred as of the Closing Date (each an "Account Party"), shall, unless any such Account Party objects or specifies otherwise, be applied to the oldest remaining undisputed Third Party Receivables transferred as of the Closing Date from such Account Party in the order in which they arose.
The Company shall not agree to set-off or otherwise discount any uncollected Third Party Receivables, in excess of the reserve amount for each Account Party, without Seller's approval in its sole and absolute discretion.
The Borrower shall not deposit or permit the ----------- deposit of any funds that do not constitute Collections of Transferred Receivables into any Lockbox Account (other than collections related to Third- Party Receivables).