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 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, 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 the Seller Parties shall within forty-eight five (485) hours days 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 Purchased Assets.. 57

Collection of Accounts Receivable and Letters of Credit. At the 34 Closing, Buyer will Purchaser shall acquire hereunder, and thereafter Buyer Purchaser or its designee shall have the right and authority to collect for BuyerPurchaser's or its designee's account, all receivablesAccounts Receivable, letters of credit and other items which constitute a part of the Assets, and the Seller Parties shall within forty-eight (48) 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, cash or checks received on account of or otherwise relating to any such receivables, letters of credit or other itemsitems related to Seller or the Business. The Seller Parties shall promptly transfer or deliver to Buyer Purchaser 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 On the ClosingClosing Date, the Buyer Parties will acquire hereunder, and thereafter the Buyer Parties or its their 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 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 endorse, remit and deliver to 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. 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, Buyer will Purchaser shall acquire hereunder, and thereafter Buyer Purchaser or its designee shall have the right and authority to collect for BuyerPurchaser's or its designee's account, all receivables, letters of credit and other items which constitute a part of the Assets, and the each Seller Parties shall within forty-eight (48) 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, cash or checks received on account of or otherwise relating to any such receivables, letters of credit or other itemsitems related to the Partnership or the Business. The Each Seller Parties shall promptly transfer or deliver to Buyer Purchaser or its designee any cash or other property that the such 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, 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.