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, Purchaser shall acquire hereunder, and thereafter Purchaser or its designee shall have the right and authority to collect for Purchaser's or its designee's account, all receivables, letters of credit and other items which constitute a part of the Assets, and each Seller shall within 48 hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Purchaser 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 related to the Company or the Business. Each Seller shall promptly transfer or deliver to Purchaser or its designee any cash or other property that such 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.
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. (a) 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 or arise out of or relate to the Subject Assets, including, pursuant to Section 2.1(q), and Seller 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 which constitute a part of the Subject Assets. 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, Lease, or any other item, constituting a part of the Subject Assets. Prior to Closing and for the twelve (12) months after the Closing Date, Seller shall notify Buyer prior to Seller or its designee contacting or hiring, or threatening to contact or hire, any collection agency, attorney or similar Representative, or initiating or threatening an Action, with respect to any outstanding accounts or notes receivables that are Excluded Assets.
(b) At the Closing, Seller shall retain and thereafter Seller or its designee shall have the right and authority to collect for Seller's or its designee's account all receivables, letters of credit and other items which constitute a part of the Excluded Assets, and Buyer shall within forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Seller 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 which constitute a part of the Excluded Assets. Buyer shall promptly transfer or deliver to Seller or its designee any cash or other property that Buyer may receive in respect of any deposit, prepaid expense, Claim, Contract, Lease, or any other item, constituting a part of the Excluded Assets.
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. 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 Seller 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.
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, 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 the ------------------------------------------------------- Closing, City 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 Stone and Ashland shall within forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to 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, 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.
