Common use of Collection of Accounts Receivable and Letters of Credit Clause in Contracts

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 's or its designee’s 's account, all receivables, letters of credit and other items which constitute a part of the Purchased Assets, and Seller shall, shall within five business days 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 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 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 letter of credit or receivable of any character, or any other item item, constituting a part of the Purchased Assets.

Collection of Accounts Receivable and Letters of Credit. At the Closing, Buyer will Purchaser shall acquire hereunder, and thereafter Buyer Purchaser or its designee shall have the right and authority to collect for Buyer’s Purchaser's or its designee’s 's account, all receivables, letters of credit and other items which constitute a part of the Purchased Assets, and each Seller shall, shall within five business days 48 hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Buyer Purchaser any letters of credit, documents documents, cash or checks received on account of or otherwise relating to any such receivables, letters of credit or other itemsitems related to the Company or the Business. Each Seller shall promptly transfer or deliver to Buyer 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, letters letter of credit or receivable of any character, or any other item 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 Purchased Assets, and Seller shall, shall within five business (5) days after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Buyer any letters of credit, documents 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 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 letter of credit or receivable of any character, or any other item 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 Purchased Assets, and Seller shall, shall within five two (2) 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 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 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 letter of credit or receivable of any character, or any other item item, constituting a part of the Purchased Assets.

Collection of Accounts Receivable and Letters of Credit. At On the ClosingClosing Date, 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, shall within five business days forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse endorse, remit and deliver to Buyer any letters of credit, documents 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 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 letter of credit or receivable of any character, or any other item 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 's or its designee’s '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 shall promptly after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Buyer any letters of credit, documents 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 or its designee any cash or other property that the Seller may receive in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letters letter of credit or receivable of any character, or any other item 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 's or its designee’s 's account, all receivables, letters of credit and other items which constitute a part of the Purchased Assets, and Seller shall, and the Shareholders shall within five business days promptly after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Buyer any letters of credit, documents documents, cash or checks received on account of or otherwise relating to any such receivables, letters of credit or other items. Seller and the Shareholders shall promptly transfer or deliver to Buyer or its designee any cash or other property that Seller or any Shareholders may receive in respect of any deposit, prepaid expense, claim, contract, license, lease, commitment, sales order, purchase order, letters letter of credit or receivable of any character, or any other item 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 's or its designee’s 's account, all receivables, letters of credit and other items which constitute a part of the Purchased Assets, and Seller shall, shall within five business days 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 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 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 letter of credit or receivable of any character, or any other item item, constituting a part of the Purchased Assets.