Collection of Accounts Receivable and Letters of Credit. At the Closing, Buyer will acquire hereunder, and thereafter Buyer or its designee shall have the right and authority to collect for Buyer’s or its designee’s account, all receivables, letters of credit and other items which constitute a part of the Purchased Assets, and Seller shall, within five business days after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Buyer any letters of credit, documents or checks received on account of or otherwise relating to any such receivables, letters of credit or other items. Seller shall promptly transfer or deliver to Buyer or its designee any cash or other property that Seller may receive in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letters of credit or receivable of any character, or any other item constituting a part of the Purchased Assets.
Collection of Accounts Receivable and Letters of Credit. At the Closing, Buyer will acquire hereunder, and thereafter Buyer or its designee shall have the right and authority to collect for Buyer's or its designee's account, all receivables, letters of credit and other items which constitute a part of the Assets, and the Seller Parties shall within forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Buyer any letters of credit, documents, cash or checks received on account of or otherwise relating to any such receivables, letters of credit or other items. The Seller Parties shall promptly transfer or deliver to Buyer or its designee any cash or other property that the Seller Parties may receive in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letter of credit or receivable of any character, or any other item, constituting a part of the Assets.
Collection of Accounts Receivable and Letters of Credit. At the ------------------------------------------------------- Closing, HDA will acquire hereunder the right and authority to collect all receivables, letters of credit and other items which constitute a part of the Assets, and the Company shall within forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to HDA any letters of credit, documents, cash or checks or other consideration received on account of or otherwise relating to any such receivables, letters of credit or other items.
Collection of Accounts Receivable and Letters of Credit. At the Closing, U.S. Buyer will acquire hereunder, and thereafter U.S. Buyer or its designees shall have the right and authority to collect for the accounts of U.S. Buyer or its designees, all receivables, letters of credit and other items which constitute a part of the Assets, and Sellers shall within five days after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to U.S. Buyer any letters of credit, documents, cash or checks received on account of or otherwise relating to any such receivables, letters of credit or other items. Sellers shall promptly transfer or deliver to U.S. Buyer or its designee any cash or other property that Sellers or any of their Affiliates may receive in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letter of credit or receivable of any character, or any other item, constituting a part of the Assets. The Buyer Parties shall promptly transfer or deliver to ICO to or its designee any cash or other property that the Buyer Parties or any of their Affiliates may receive in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letter of credit or receivable of any character, or any other item, constituting a part of the Excluded Assets.
Collection of Accounts Receivable and Letters of Credit. On the Closing Date, the Buyer Parties will acquire hereunder, and thereafter the Buyer Parties or their designee shall have the right and authority to collect for Buyer’s or its designee’s account, all receivables, letters of credit and other items which constitute a part of the Assets, and the Seller Parties shall within forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse, remit and deliver to Buyer any letters of credit, documents, cash or checks received on account of or otherwise relating to any such receivables, letters of credit or other items. The Seller Parties shall promptly transfer or deliver to Buyer or its designee any cash or other property that any such Seller Party may receive in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letter of credit or receivable of any character, or any other item, constituting a part of the Assets. Notwithstanding the immediately preceding sentence or any other provision in this Agreement to the contrary, as promptly as practicable after the Closing Net Asset Value Statement shall become final, binding and conclusive in accordance with Section 2.5(c), Buyer shall reimburse Seller for any prepayments, advance payments or prepaid expenses (including any prepaid rents and prepaid health insurance premiums) relating to any post-Closing period actually paid by a Seller Party (but not with respect to either of the Affiniti Companies) included in the Assets as of the Closing Date, provided that (i) such prepayments, advance payments or prepaid expenses shall be set forth in reasonable detail on a schedule to be delivered by Seller to Buyer in accordance with Section 2.5(b), (ii) the aggregate amount of such reimbursement shall not exceed $40,000 and (iii) the amount of any such reimbursement shall be reduced on a dollar-for-dollar basis by the amount of any Tax Liability that may be incurred by the Affiniti Companies or any of the Buyer Parties as a result of the payment, satisfaction and discharge, in full, of all Affiniti Accrued Officer Salaries prior to the Closing in accordance with the terms of this Agreement. If the Tax Liability referred to in the immediately preceding sentence shall exceed the amount of all prepayments, advance payments or prepaid expenses for which Seller would otherwise have been entitled to reimbursement pursuant to the immediately preceding sentence, the Parties acknowl...
Collection of Accounts Receivable and Letters of Credit. At the Closing, Truck City will acquire hereunder the right and authority to collect all receivables, letters of credit and other items that constitute a part of the Assets, and the Company shall within 48 hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Truck City any letters of credit, documents, cash or checks or other consideration received on account of or otherwise relating to any such receivables, letters of credit or other items.
Collection of Accounts Receivable and Letters of Credit. At the ------------------------------------------------------- Closing, ABS will acquire hereunder the right and authority to collect all receivables, letters of credit and other items that constitute a part of the Assets, and the Companies shall within 48 hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to ABS any letters of credit, documents, cash or checks or other consideration received on account of or otherwise relating to any such receivables, letters of credit or other items.
Collection of Accounts Receivable and Letters of Credit. At and after the Closing, Buyers shall have the right and authority to collect for the Seller’s account receivables, letters of credit and other items which constitute a part of the Acquired Assets, and Seller shall within ten (10) business days after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to the Buyers any letters of credit, documents, cash or checks received after the Closing on account of or otherwise relating to any such receivables, letters of credit or other items. Seller shall promptly transfer or deliver, or cause to be transferred or delivered, to the Buyers or its designee any cash or other property that Seller may receive after the Closing in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letter of credit or receivable of any item, constituting a part of the Acquired Assets.
Collection of Accounts Receivable and Letters of Credit. At the Closing, Buyer will acquire hereunder, and thereafter Buyer shall have the right and authority to collect for Buyer's account, all receivables, letters of credit and other items which constitute a part of the Assets, and Seller shall within seventy-two (72) hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Buyer any letters of credit, documents, cash or checks received on account of or otherwise relating to any such receivables, letters of credit or other items. Seller shall promptly transfer or deliver to Buyer any cash or other property that Seller may receive in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letter of credit or receivable of any character, or any other item, constituting a part of the Assets. Seller shall pay Buyer a monthly fee of $5,000 for each of the first twelve months after the Closing Date in consideration of Buyer's collection of the Accounts Receivable. In addition, all amounts received by Seller or Buyer from Xxxxxx Glass Mental Health in respect of outstanding accounts receivable, shall, at the end of each month, be applied first to any outstanding accounts receivable of Buyer with respect to such debtor and then, if and to the extent amounts remain, shall be applied to reduce the Accounts Receivable listed on SCHEDULE D.
Collection of Accounts Receivable and Letters of Credit. At the Closing, Parent and Buyer will acquire hereunder, and thereafter Parent, Buyer or their designees shall have the right and authority to collect for Parent’s, Buyer’s or their respective designee’s account, all receivables, letters of credit for the benefit of Seller and other items which constitute or arise out of or relate to a part of the Purchased Assets or the Assets of any Interfast Entity, and Seller shall, as required, within three (3) Business Days after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Parent, Buyer or their respective designee (as designated by Parent) any letters of credit, documents, Cash or checks received on account or otherwise relating to any such receivables, letters of credit or other items. Seller shall promptly transfer or deliver to Parent, Buyer or their respective designee any Cash or other property that Seller may receive in respect of any deposit, prepaid expense, claim, Contract, lease or receivable of any Interfast Entity of any character, or any other item, constituting part of the Purchased Assets of the Assets of any Interfast Entity.
