Collections of Accounts Receivable Sample Clauses

Collections of Accounts Receivable. To the extent not inconsistent with the terms of the Transition Services Agreement, subject to the terms and conditions of this Section 8.13, after the closing and on a daily basis, Purchaser shall promptly (but in no event later than ten (10) days after receipt thereof) deliver to Sellers any cash, checks or other property that Purchaser receives following the closing to the extent relating to the accounts receivable or the operations of an Excluded Business. After the closing and on a daily basis, Sellers shall promptly (but in no event later than ten (10) days after receipt thereof) deliver to Purchaser any cash, checks or other property that Sellers receive to the extent relating to the Business, Purchased Assets, Purchased Companies (including any Subsidiaries thereof) or the Non-Controlled Entities. Sellers, on the one hand, and Purchaser, on the other hand, will promptly deliver to the other a true copy of any notice of a dispute as to the validity or enforceability of any accounts receivable received from the debtor of such accounts receivable. Neither Sellers nor Purchaser shall agree to any settlement, discount or reduction of the accounts receivable belonging to the other. Neither Sellers nor Purchaser shall assign, pledge or grant a security interest in the accounts receivable of the other to any third party or claim a security interest or right in and to the accounts receivable, and payment of the accounts receivable shall not be subject to off-set. Sellers’ and Purchaser’s collection obligation under this Section 8.13 shall not include any obligation to bring suit, engage a collection agent or take any other legal action for the collection or sale (as the case may be) of the accounts receivable.

Collections of Accounts Receivable. (a) Pursuant to and in accordance with Section 3(c) of the U.S. Security Agreement, Section 3(c) of the Canadian Security Agreement or any similar provision in any Quebec Security Document, as applicable, (i) instruct each Account Debtor of an Account Receivable to make all payments to the applicable Loan Party in respect of such Account Receivable to a Controlled Account and (ii) with respect to any items sent directly to a Loan Party by an Account Debtor, hold such items in trust for the Secured Parties and promptly deposit such items into a Controlled Account, (b)

Collections of Accounts Receivable. Pursuant to and in accordance with the Security Agreement, (i) instruct each Account Debtor of an Account Receivable to make all payments to the applicable Loan Party in respect of such Account Receivable to a Controlled Account, (ii) with respect to any items sent directly to a Loan Party by an Account Debtor, hold such items in trust for the Secured Parties and promptly deposit such items into a Controlled Account and (iii) otherwise comply with the Security Agreement.

Collections of Accounts Receivable. (a) Pursuant to and in accordance with Section 3(c) of the U.S. Security Agreement or Section 3(c) of the Canadian Security Agreement, as applicable, (i) instruct each Account Debtor of an Account Receivable to make all payments to the applicable Loan Party in respect of such Account Receivable to a Controlled Account and (ii) with respect to any items sent directly to a Loan Party by an Account Debtor, hold such items in trust for the Secured Parties and promptly deposit such items into a Controlled Account and (b) otherwise comply with Section 3 of the U.S. Security Agreement, Section 3 of the Canadian Security Agreement or Section 5 of the Dutch Receivables Pledge Agreement, as applicable.

Collections of Accounts Receivable. (a) If all or part of any payment received by Intek or any Affiliate of Intek relates exclusively to an account receivable arising prior to the Effective Date, such payment shall be held in trust for MIC and shall not be commingled with any other assets of Intek or such Affiliate. Intek shall immediately deliver to MIC, or cause its Affiliate to immediately deliver to MIC, such payment in the form received together with such endorsements as shall be necessary for MIC to deposit and collect such payment. (b) If all or part of any payment received by MIC, ▇▇▇▇▇▇▇▇ or any Affiliate thereof relates exclusively to an account receivable arising after the Effective Date, such payment shall be held in trust for Intek and shall not be commingled with any other assets of MIC, ▇▇▇▇▇▇▇▇ or such Affiliate. MIC and ▇▇▇▇▇▇▇▇ shall immediately deliver to Intek, or cause its Affiliate to immediately deliver to Intek, such payment in the form received together with such endorsements as shall be necessary for Intek to deposit and collect such payment. (c) If a payment is received which relates to accounts receivables arising both before and after the Effective Date, the recipient thereof shall immediately pay to the other party cash in an amount equal to that portion of the payment which is specifically identified to a receivable or receivables owned by such other party. (d) If a customer's payment does not specifically identify an invoice, or MUSA is unable to identify the invoice to which such receivable should be applied with reasonable certainty, MUSA shall contact the customer directly and request that the customer identify the invoice to which such receivable should be applied. The recipient shall promptly thereafter pay to the other party cash in an amount equal to that portion of the payment which was so identified to a receivable or receivables owned by such other party. (e) To facilitate the collection of receivables pursuant to this Section 3.4, MIC and Intek shall not, and Intek shall not permit MUSA to, change the payment instructions to customers of the U.S. LMR Distribution Business during the 90 day period commencing on the date of the Closing. On October 16, 1996, MIC shall convey to MUSA all of MUSA's right, title and interest into post office boxes ▇.▇. ▇▇▇ ▇▇▇, ▇▇▇▇. ▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇-▇▇▇▇, ▇.▇. ▇▇▇ ▇▇▇, ▇▇▇▇. ▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇-▇▇▇▇ (the "P.O. Boxes") and bank account number 010161070176 titled to MIC at Boatmen's First National Bank of Ka...

Collections of Accounts Receivable. The Seller and the Company will endorse, as necessary, and promptly remit to the Buyer all payments of Accounts Receivable received by either of them, and otherwise cooperate as the Buyer shall reasonably request in the collection of Accounts Receivable. The Seller guarantees that all Accounts Receivable (less any associated reserve for bad debts as shown on the Final Balance Sheet) will be paid within a collection period of ninety (90) days immediately following the Closing (the “Collection Period”). Within ten (10) business days after delivery to the Seller of a schedule of Accounts Receivable unpaid at the end of the Collection Period, the Seller will pay to the Buyer the amount by which the Accounts Receivable (less any associated reserve for bad debts as shown on the Final Balance Sheet) exceeds the amount that the Buyer has collected on Accounts Receivable during the Collection Period, and the Buyer will re-assign to the Seller any such uncollected Accounts Receivable. If more than one invoice is outstanding for any customer of the Business, the “first-in, first-out” principle shall be applied in determining the invoice to which a payment relates, unless the payment by its terms specifies or clearly indicates the invoice to which it relates. To the extent the Seller has incurred or pays expenses for which it is entitled to reimbursement or payment under its agreement in Section 5.6 to provide transitional services, it shall have the right to offset any otherwise applicable payments to the Buyer under this Section 5.5

Collections of Accounts Receivable. Pursuant to and in accordance with Section 3(d) of the New York Security Agreement and Section 4(d) of the Canadian Security Agreement, (i) instruct each Account Debtor of an Account Receivable to make all payments to the Borrowers in respect of such Account Receivable to a Cash Management Account, (ii) with respect to any items sent directly to a Loan Party by an Account Debtor, hold such items in trust for the Secured Parties and promptly deposit such items into a Cash Management Account and (iii) otherwise comply with Section 3 of the New York Security Agreement and Section 4 of the Canadian Security Agreement.

Collections of Accounts Receivable. (a) Although Seller is transferring its trade name to Buyer, Seller shall retain the limited right to use its trade name for the purpose of collecting the retained accounts receivable and paying obligations. (b) Seller shall request customers to mail checks for payments of the retained accounts receivable to the attention of ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and to designate on the check the invoice date. If any party receives a check which was intended by the customer as payment to the other party, it shall not negotiate or deposit the check, but shall immediately forward it to the other party. (c) Seller shall invoice and receive payment for all shifts completed through week 37, the designated cut off point agreed to by the parties at Closing. (d) Seller agrees that if its invoices to Harlem Hospital aren't paid within 90 days of closing and Buyer has any invoices to Harlem Hospital which are unpaid for 15 days, Seller will advise the Hospital not to pay Seller until each such invoice of Buyer has been paid.

Collections of Accounts Receivable. On and after the Closing Date, the Purchaser shall have the sole irrevocable right and authority to collect, for its own account and sole benefit, all monies payable in respect of the Acquired Assets, no matter how or when earned. If the Seller, SkyMall or any of their respective Affiliates shall receive any such monies, it shall hold all such monies in trust for the sole benefit of the Purchaser. Within fifteen (15) Business Days after receipt thereof, such Person shall cause the transfer and delivery to the Purchaser of any monies or other property which any such Person may receive after the Closing Date in payment of accounts receivable or payment of other monies payable in respect of the Acquired Assets. Each of the Seller and SkyMall authorize the Purchaser to endorse in such Person's name all notes, checks, drafts money orders or other instruments of payment in respect of the foregoing which may come into the possession of the Purchaser, and each of the Seller and SkyMall hereby ratifies all that the Purchaser shall lawfully do or cause to be done by virtue hereof.