Common use of Alternative Payment; Timing Clause in Contracts

Alternative Payment; Timing. To the extent that it is not commercially practical, without unreasonable burden on Participant, for Brand Amounts to be delivered directly to Fantex from any payor of Brand Income, or any assignment of Brand Income is deemed invalid or unenforceable, then Participant shall receive such portion of the Brand Amount as agent for Fantex and will deliver such portion of the Brand Amount to Fantex as and when (or as promptly as practicable after) such Brand Income is received by Participant; provided, however, that in no case shall any Brand Amount be delivered later than fifteen (15) days following receipt of funds by Participant (or any other Person on behalf of Participant) with respect to such payment.

Appears in 8 contracts

Samples: Fantex Brand Agreement (Fantex, Inc.), Fantex Brand Agreement (Fantex, Inc.), Fantex Brand Agreement (Fantex, Inc.)

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Alternative Payment; Timing. To the extent that it is not commercially practical, without unreasonable burden on Participant, for Brand Amounts to be delivered directly to Fantex from any payor of Brand Income, or any assignment of Brand Income is deemed invalid or unenforceablenot enforceable, then Participant shall receive such portion of the Brand Amount as agent for Fantex and will deliver such portion of the Brand Amount to Fantex as and when (or as promptly as practicable after) such Brand Income is received by Participant; provided, however, that in no case shall any Brand Amount be delivered later than fifteen (15) days following receipt of funds by Participant (or any other Person on behalf of Participant) with respect to such payment.

Appears in 7 contracts

Samples: Brand Agreement, Fantex Brand Agreement (Fantex, Inc.), Fantex Brand Agreement (Fantex, Inc.)

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