Specified Payables definition

Specified Payables means the accounts payable owed by Borrower that are listed on Schedule 1 hereto, in the amounts listed on such Schedule.
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Specified Payables means the difference between (i) the aggregate amount of all trade payables aged in excess of (A) 60 days past due (other than the ▇▇▇▇▇ Premiums) and all book overdrafts and (ii) $1,500,000; in accordance with their customary practice and as reflected on the most recent Accounts Payable report provided under Section 5.1(s).
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Specified Payables means those obligations owing by the Borrowers pursuant to the Specified Note.
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Examples of Specified Payables in a sentence

  • Borrower anticipates that additional Specified Payables will hereafter remain outstanding for more than 90 days past the original invoice or billing date therefor, and Borrower's failure to pay the same may constitute additional Events of Default under the Credit Agreement.

  • Borrower has paid all Specified Payables (other than the listed payables owing to Marine Drilling and Schlumberger Technology Corporation).

  • Certain Specified Payables have been outstanding for more than 90 days past the original invoice or billing date therefor, and Lender contends that Borrower failed to disclose to Lender the incurring of additional Indebtedness through the aging of accounts payable beyond ninety (90) days subsequent to the closing of the Original Agreement.

  • If, following the determination of the Actual Specified Payables Adjustment Amount (as agreed between the Parties or as determined by the Independent Accounting Firm), the Estimated Specified Payables Adjustment Amount minus the Actual Specified Payables Adjustment Amount is a positive number, then Buyer shall be obligated to pay Seller a cash payment equal to the positive number.

  • Should such negotiations not result in an agreement within thirty (30) days after receipt by Seller of such written objection from Buyer, then the disputed items of the Actual Specified Payables Adjustment Amount (such items, the “disputed items”) shall be submitted to the Independent Accounting Firm, and all other items on the Actual Specified Payables Adjustment Amount shall be final, binding and conclusive on the Parties.

  • Any such payment will be due and payable within three (3) Business Days after the Actual Specified Payables Adjustment Amount is finally determined as provided in this Section ‎2.3, and will be payable by wire transfer of immediately available funds to such account or accounts as shall be specified by Buyer or Seller, as applicable.

  • If the Estimated Specified Payables Adjustment Amount minus the Actual Specified Payables Adjustment Amount is a negative number, then Seller shall be obligated to pay Buyer a cash payment equal to the absolute value of such negative number.

  • At the Closing, Buyer shall pay to Seller the Initial Amount minus the Estimated Specified Payables Adjustment Amount in accordance with Section ‎2.2(b), without deduction or withholding of any kind, by wire transfer of immediately available funds in U.S. Dollars to such account or accounts specified by Seller to Buyer in writing at least two (2) Business Days prior to the Closing (the “Closing Payment”).

  • The Initial Amount payable at the Closing will be decreased by an amount equal to the absolute value of such Estimated Specified Payables Adjustment Amount.

  • Within sixty (60) days after the Closing, Seller will prepare and deliver to Buyer a computation of the actual Specified Payables Adjustment Amount (the “Actual Specified Payables Adjustment Amount”), such Actual Specified Payables Adjustment Amount being an absolute value.


More Definitions of Specified Payables

Specified Payables means the aggregate amount of all trade payables aged in excess of 60 days past the applicable invoice date and all book overdrafts, in each case as reasonably determined by Administrative Agent.”
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Related to Specified Payables

  • Specified Payment means any Permitted Acquisition, Investment, loan, advance, incurrence of or payment with respect to Indebtedness or other transaction made subject to satisfaction of the Payment Conditions or any component thereof.

  • Excluded Payments means (i) indemnity payments paid or payable by Lessee to or in respect of Owner Participant, or Owner Trustee in its individual capacity, their respective Affiliates, successors and permitted assigns and their directors, officers, employees, servants and agents pursuant to Section 9 of the Participation Agreement or any corresponding payments under the Lease, (ii) proceeds of public liability insurance paid or payable as a result of insurance claims made, or losses suffered, by Owner Trustee in its individual capacity or by Owner Participant, that are payable directly to Owner Trustee in its individual capacity, or Owner Participant, respectively, for their own account, (iii) proceeds of insurance maintained with respect to the Aircraft by Owner Participant or any Affiliate thereof for its or their own account or benefit (whether directly or through Owner Trustee) and permitted under Section 11.2 of the Lease, (iv) all payments required to be made under the Tax Indemnity Agreement by Lessee whether or not denominated as Supplemental Rent, (v) any Transaction Expenses paid or payable by the Lessee to the Owner Trustee (to the extent for its sole benefit) or the Owner Participant pursuant to the Lease or the Participation Agreement, (vi) any amount payable to the Owner Participant by any transferee as the purchase price of the Owner Participant's interest in the Trust Estate, (vii) any interest that pursuant to the Operative Agreements may from time to time accrue in respect of any of the amounts described in clauses (i) through (vi) above, (viii) any right to enforce the payment of any amount described in clauses (i) through (vii) above (PROVIDED, that the rights referred to in this clause (viii) shall not be deemed to include the exercise of any remedies provided for in the Lease other than the right to ▇▇▇ for specific performance of any covenant to make such payment or to ▇▇▇ for damages in respect of the breach of any such covenant) and (ix) any right to exercise any election or option or make any decision or determination, or to give or receive any notice, consent, waiver or approval, or to take any other action in respect of, but in each case, only to the extent relating to, any Excluded Payments.

  • Intercompany Payables means all account, note or loan payables and all advances (cash or otherwise) or any other extensions of credit that are payable by Seller or any of its Affiliates (other than the Bank or the Transferred Subsidiaries) to the Bank or the Transferred Subsidiaries.

  • Assumed Indebtedness means Indebtedness of a Person which is (a) in existence at the time such Person becomes a Restricted Subsidiary of the Borrower or (b) is assumed in connection with an Investment in or acquisition of such Person, and has not been incurred or created by such Person in connection with, or in anticipation or contemplation of, such Person becoming a Restricted Subsidiary of the Borrower.

  • Assumed Scheduled Payment means: (i) with respect to any Balloon Mortgage Loan as to which advancing is required hereunder for its Maturity Date (provided that such Balloon Mortgage Loan has not been paid in full, and no Final Recovery Determination or other sale or liquidation has occurred in respect thereof, on or before the end of the Collection Period in which such Maturity Date occurs) and for any subsequent Due Date therefor as of which such Balloon Mortgage Loan remains outstanding and part of the Trust, if no Scheduled Payment (other than the related delinquent Balloon Payment) is due for such Due Date, the scheduled monthly payment of principal and/or interest deemed to be due in respect thereof on such Due Date equal to the Scheduled Payment that would have been due in respect of such Balloon Mortgage Loan on such Due Date, if it had been required to continue to accrue interest in accordance with its terms, and to pay principal in accordance with the amortization schedule in effect immediately prior to, and without regard to the occurrence of, its most recent Maturity Date (as such may have been extended in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment of such Balloon Mortgage Loan granted or agreed to by the Master Servicer or the Special Servicer pursuant to the terms hereof), and (ii) with respect to any REO Mortgage Loan for any Due Date therefor as of which the related REO Property or an interest therein remains part of the Trust, the scheduled monthly payment of principal and interest deemed to be due in respect thereof on such Due Date equal to the Scheduled Payment (or, in the case of a Balloon Mortgage Loan described in clause (i) of this definition, the Assumed Scheduled Payment) that was due in respect of the related Mortgage Loan on the last Due Date prior to its becoming an REO Mortgage Loan. The amount of the Assumed Scheduled Payment for any A Note shall be calculated solely by reference to the terms of such A Note (as modified in connection with any bankruptcy or similar proceeding involving the related Mortgagor or pursuant to a modification, waiver or amendment of such Mortgage Loan granted or agreed to by the Master Servicer or the Special Servicer pursuant to the terms hereof) and without regard to the remittance provisions of the related Intercreditor Agreement.