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, 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, Purchaser shall Buyer will acquire hereunder, and thereafter Purchaser Buyer or its designee shall have the right and authority to collect for PurchaserBuyer'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 forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Purchaser 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 related to the Company or the Businessitems. Each Seller shall promptly transfer or deliver to Purchaser Buyer 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 34 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 receivablesAccounts Receivable, 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 Seller 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 On the ClosingClosing Date, Purchaser shall the Buyer Parties will acquire hereunder, and thereafter Purchaser the Buyer Parties or its their designee shall have the right and authority to collect for Purchaser's Buyer’s or its designee's ’s account, all receivables, letters of credit and other items which constitute a part of the Assets, and each Seller shall within 48 forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse endorse, remit and deliver to Purchaser Buyer any letters of credit, documents, EDI payments, 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 Businessitems. Each Seller shall promptly transfer or deliver to Purchaser Buyer 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, Purchaser shall Buyer will acquire hereunder, and thereafter Purchaser Buyer or its designee shall have the right and authority to collect for PurchaserBuyer's or its designee's account, all receivables, letters of credit and other items which constitute a part of the Assets, and each the Seller Parties shall within 48 forty-eight (48) hours after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Purchaser 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 related to the Company or the Businessitems. Each The Seller Parties shall promptly transfer or deliver to Purchaser Buyer or its designee any cash or other property that such 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, Purchaser shall Buyer will acquire hereunder, and thereafter Purchaser Buyer or its designee shall have the right and authority to collect for PurchaserBuyer's or its designee's account, all receivables, letters of credit and other items which constitute a part of the Purchased Assets, and each Seller shall within 48 hours five (5) days after receipt of any payment in respect of any of the foregoing, properly endorse and deliver to Purchaser 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 related to the Company or the Businessitems. Each Seller shall promptly transfer or deliver to Purchaser Buyer 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 Purchased Assets.. 57

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 Partnership 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.