Certain Accounts Payable Clause Samples

The 'Certain Accounts Payable' clause defines specific obligations regarding the payment of outstanding debts or invoices owed to suppliers or service providers. Typically, this clause outlines which accounts payable are recognized, the timing and method of payment, and any exceptions or exclusions that may apply. For example, it may specify that only accounts payable incurred in the ordinary course of business up to a certain date are included. The core function of this clause is to ensure clarity and agreement between parties about which payables are to be honored, thereby preventing disputes over financial liabilities.
Certain Accounts Payable. Concurrently with the delivery of the monthly financial statements required under Section 5.1(a), a monthly trial balance showing accounts payable with respect to Farm Products or subject to Growers’ Liens , in each case outstanding aged from invoice date as follows: 1 to 30 days, 31 to 60 days, 61 to 90 days and 91 days or more, accompanied by such supporting detail and documentation as shall be requested by Administrative Agent in its reasonable discretion.
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Certain Accounts Payable. For each well whose reserves or projected cash flow are from time to time included in any Reserve Report, there shall be no outstanding accounts payable under or in connection with an authorization for expenditure that are associated with such well.
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Certain Accounts Payable. Sellers shall cause each Subsidiary of Basic Parent and each Affiliate of either Seller that in each case is the payee of any accounts payable that are retained by Sellers as Excluded Liabilities (a) not to assert mechanics’ liens against customers of Basic Parent, Parent or any of their respective Subsidiaries in respect of such accounts payable or (b) if such Subsidiary or Affiliate has previously asserted any such mechanics’ liens against customers of Basic Parent, Parent or any of their respective Subsidiaries in respect of such accounts payable, to release and terminate any such liens promptly following the Closing and to promptly deliver notice of such release and termination to Buyer.
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Certain Accounts Payable. For each proved developed producing well whose reserves or projected cash flow are from time to time included in any Reserve Report, there shall be no outstanding accounts payable under or in connection with an authorization for expenditure that are associated with such well. (g) Section 9.1 of the Credit Agreement is hereby amended to delete the reference to “3.50” and to replace it with “3.00”.
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Certain Accounts Payable. Notwithstanding Section 2.2(a)(ii), if any invoice, ▇▇▇▇ or other similar statement with respect to any account payable arising in the Ordinary Course of the Business prior to the Closing Date is received by the Purchaser more than 30 but fewer than 90 days following the Closing Date and is not taken into account in the determination of Modified Working Capital pursuant to Section 2.3(b), the Purchaser shall promptly remit such invoice, ▇▇▇▇ or statement to the Seller and the Seller shall, within five Business Days of such receipt, cause payment to be made to the issuer of such invoice, ▇▇▇▇ or statement, provided, that there shall be no corresponding asset attributable to such payable that solely benefits the Purchaser and such asset is either not reflected on the September 30, 2004 balance sheet included in the Seller Financial Statements or the Final MWC Statement.
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Certain Accounts Payable. Sellers covenant and agree to pay all negative Seller Imbalances and accounts payable of each Company to the extent validly incurred and attributable to the period prior to the Effective Time (other than (i) accounts payable of the Companies for capital expenditures relating to the projects listed in Section 1.3(a)(i)(D) of the Disclosure Schedule, (ii) for any negative Company Imbalances, as the parties agree that such accounts payable and imbalances are subject to adjustment pursuant to Section 1.3, and (iii) for any negative Third Person Imbalances which are being retained by the Companies), including any accounts payable that were not included in the Final Settlement Statement as a result of a good faith dispute as provided in Section 1.3(a)(ii)(C), but which amounts are subsequently determined to be payable and any settlement payments due with respect to liquids product inventory that are subject to the adjustment set forth in Section 1.3(a)(i)(E).
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Certain Accounts Payable. (a) On or before September 30, 2019, for each well whose reserves or projected cash flow are from time to time included in any Reserve Report, there shall be no accounts payable outstanding more than 90 days after the due date under or in connection with an authorization for expenditure that are associated with such well, other than those that are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been established. (b) Commencing as of October 1, 2019 and thereafter, there shall be no accounts payable outstanding more than 90 days after the due date, other than accounts payable that are being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been established. (b) New Section 9.3
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Certain Accounts Payable. Buyer and Seller agree to cooperate to instruct any vendor to re-invoice Buyer regarding any Accounts Payable related to goods and services that have not yet been delivered as of the Closing.
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Related to Certain Accounts Payable

  • Accounts Payable To the extent not apportioned at Closing, any indebtedness, accounts payable, liabilities or obligations of any kind or nature related to Seller or the Property for the periods prior to and including the Closing Date shall be retained by Seller and promptly allocated to Seller and evidence thereof shall be provided to Buyer, and Buyer shall not be or become liable therefor, except as expressly assumed by Buyer pursuant to this Contract, and invoices received in the ordinary course of business prior to Closing shall be allocated to Seller at Closing.

  • Accounts Receivable and Accounts Payable (a) All Accounts Receivable reflected on the Financial Information, and to be in existence on the Closing Date, represent sales actually made or leases entered into in the ordinary course of business or valid claims as to which substantial performance has been rendered. Except as set forth in the Disclosure Schedule or to the extent reserved against, no material counterclaims or offsetting claims with respect to the Accounts Receivable are pending or, to the knowledge of the Seller, threatened. The listing of Accounts Receivable attached to the Disclosure Schedule is true and correct (including the aging thereon) as of the date of preparation and no material change has occurred since the date of preparation, except in the ordinary course of business. All such Accounts Receivable are collectible in the ordinary course of business except to the extent of reserves therefor as of the Closing Date. For purposes of determining collectability, cash received from account debtors without reference to specific invoice shall be applied to the oldest outstanding invoice to such account debtor, unless a bona fide dispute exists with respect to such invoice. (b) The accounts payable of each Company reflected on the Financial Information and to be in existence on the Closing Date arose, or will arise, from bona fide transactions in the ordinary course of business, and all such accounts payable either have been paid, are not yet due and payable under the applicable Company's payment policies and procedures or are being contested by the applicable Company in good faith. The listing of accounts payable attached to the Disclosure Schedule is true and correct as of the date of preparation and no material change has occurred since that date, except in the ordinary course of business.

  • Certain Agreements on Receivables Such Grantor will not make or agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or accept in satisfaction of a Receivable less than the original amount thereof, except that, prior to the occurrence of an Event of Default, such Grantor may reduce the amount of Accounts arising from the sale of Inventory in accordance with its present policies and in the ordinary course of business.

  • Accounts Receivable; Accounts Payable (a) All accounts receivable of the Acquired Companies and their Subsidiaries, whether reflected on the Company Balance Sheet or subsequently created, are valid receivables that have arisen from bona fide transactions in the ordinary course of business consistent with past practice. All such accounts receivable are good and collectible (and subject to no setoffs or counterclaims) at the aggregate recorded amounts thereof, net of any applicable reserves for doubtful accounts reflected on the Company Balance Sheet as adjusted for operations and transactions through the Closing Date in accordance with past custom and practice of the Acquired Companies; provided, however, that nothing in the foregoing shall be construed as a guarantee of collectability. Each of the Acquired Companies and their Subsidiaries have good and marketable title to their respective accounts receivable, free and clear of all Liens, except for Permitted Liens. Since the Balance Sheet Date, there have not been any write-offs as uncollectible of any notes or accounts receivable of any of the Acquired Companies or any of their Subsidiaries, except for write-offs as uncollectible of doubtful accounts reflected on the Company Balance Sheet as adjusted for operations and transactions through the Closing Date in accordance with past custom and practice of the Acquired Companies. (b) All accounts payable and notes payable of the Acquired Companies and their Subsidiaries, whether reflected on the Company Balance Sheet or subsequently created, are valid payables that have arisen from bona fide transactions in the ordinary course of business consistent with past practice. Since the Balance Sheet Date, the Acquired Companies and their Subsidiaries have paid their accounts payable in the ordinary course of their business and in a manner which is consistent with past practices.

  • Certain Agreements Related to Deposits Subject to Section 2.2, the Assuming Institution agrees to honor the terms and conditions of any written escrow or mortgage servicing agreement or other similar agreement relating to a Deposit liability assumed by the Assuming Institution pursuant to this Agreement.