Trade Accounts definition
Examples of Trade Accounts in a sentence
Upon the sale, exchange, or other disposition of Inventory, as herein provided, the security interest in the Inventory provided for herein shall, without break in continuity and without further formality or act, continue in, and attach to, all proceeds, including any instruments for the payment of money, Trade Accounts Receivable, documents of title, shipping documents, chattel paper and all other cash and non-cash proceeds of such sale, exchange or disposition.
The Seller agrees that it will pay any and all outstanding Trade Accounts Payable, Shared Accounts Payable and Accrued Payroll and Benefits following the Closing in accordance with their terms, but in all circumstances within one hundred twenty (120) days following the Closing.
With respect to all such reports, the Company will provide to the Agent such additional information and material as the Agent may reasonably request to effectively evaluate the Trade Accounts Receivable and the collectability thereof and the mix of the Inventory and such other information as the Agent may reasonably require to evaluate the Company's Trade Accounts Receivable and Inventory, such as returns, claims, credits, allowances and information identifying and describing the Trade Accounts Receivable.
Without any prejudice to the generally of the foregoing terms of this Clause, the Company shall be entitled to initially debit any and all dormant (inactive) Trade Accounts within the term specified in Fee introduction notice.
In addition, and without limitation, promptly pay all Trade Accounts Payable.
The Company may determine types of Trade Accounts which do not fall within the provisions of this paragraph.
In no event shall prior recourse to any Trade Accounts Receivable or other security granted to or by the Companies be a prerequisite to CIT's right to demand payment of any of the Obligations.
Except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, the Borrower is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required, or where the failure to so qualify would have a material adverse effect on the ability of the Borrower to enforce collection of Trade Accounts Receivable due from customers residing in that jurisdiction.
The Company also warrants and represents that it is a duly and validly existing corporation and is qualified to transact business in all states where the failure to so qualify would have a material adverse effect on the business of the Company or the ability of such Company to enforce collection of Trade Accounts Receivable due from Persons residing in that state.
From time to time at the request of the Sellers' Representative, the Buyer shall supply the Sellers with such information as the Sellers' Representative may reasonably request concerning the aging of the Reimbursable Trade Accounts Receivable of the Company and its Subsidiaries and any conversion of the Company's computer system referred to below.