Accounts Receivable Collections. After the Closing, the Company shall permit the Buyer to collect, in the name of the Company, all Accounts Receivable and to endorse with the name of the Company for deposit in the Buyer’s account any checks or drafts received in payment thereof. The Company shall promptly deliver to the Buyer any cash, checks or other property that the Company may receive after the Closing in respect of any Accounts Receivable or other assets constituting part of the Acquired Assets.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Timios National Corp), Asset Purchase Agreement (DJSP Enterprises, Inc.), Asset Purchase Agreement (Homeland Security Capital CORP)
Accounts Receivable Collections. After the Closing, the Company shall permit the Buyer permit, and hereby authorizes, Purchaser to collect, in the name of the Company, all Accounts Receivable constituting part of the Purchased Assets and to endorse with the name of the Company for deposit in the BuyerPurchaser’s account any checks or drafts received in payment thereof. The Company shall promptly deliver to the Buyer Purchaser any cash, checks or other property that the Company it may receive after the Closing in respect of any Accounts Receivable or other assets asset constituting part of the Acquired Purchased Assets.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Distributed Energy Systems Corp), Asset Purchase Agreement (Distributed Energy Systems Corp)
