Collection of Assets Sample Clauses
Collection of Assets. Subsequent to the Closing, Buyer shall have the right and authority to collect all receivables and other items transferred and assigned to it by Seller hereunder and to endorse with the name of Seller any checks received on account of such receivables or other items, and Seller agrees that it will promptly transfer or deliver to Buyer from time to time, any cash or other property that Seller may receive with respect to any claims, contracts, licenses, leases, commitments, sales orders, purchase orders, receivables of any character or any other items included in the Subject Assets.
Collection of Assets. Subsequent to the Closing, Buyer shall have the right and authority to collect all accounts receivables and other items transferred and assigned to it by Seller hereunder and to endorse with the name of Seller any checks received on account of such receivables or other items, and Seller agrees that it will promptly transfer or deliver to Buyer from time to time, any cash or other property that Seller may receive with respect to any claims, contracts, licenses, leases, commitments, sales orders, purchase orders, receivables of any character or any other items required to be transferred by it to Buyer pursuant to the provisions hereof.
Collection of Assets. Subsequent to the Closing, Purchaser and its assignees shall have the right and authority to collect all receivables and other items transferred and assigned by the Company hereunder and to endorse with the name of the Company or any of its affiliates any checks received on account of such receivables or other items, and the Company agrees that it will promptly transfer or deliver to Purchaser and its assignees from time to time, any cash or other property that it may receive on or after November 12, 1997 with respect to any claims, contracts, licenses, leases, commitments, sales orders, purchase orders, receivables of any character or any other items included in the assets transferred to Purchaser pursuant to this Agreement.
Collection of Assets. Seller agrees that it will promptly transfer or deliver to Buyer from time to time, any cash or other property that Seller may receive with respect to any claims, contracts, licenses, leases, commitments, sales orders, purchase orders, receivables of any character or any other items included in the Purchased Assets. Buyer agrees that it will promptly transfer or deliver to Seller from time to time all property Buyer may receive with respect to the Excluded Assets.
Collection of Assets. Subsequent to the Closing, Buyer shall have the right and authority to collect all receivables and other items transferred
Collection of Assets. The City shall have the right to notify the obligor(s) under the Assets to make payment directly to it, to take control of all the proceeds of the Assets and to enforce any of the obligations of the obligor(s) under the Assets.
Collection of Assets. Subsequent to the Closing, the Buyer shall have the right and authority to collect all items transferred to it by the Sellers, and each of the Sellers agrees that it will promptly transfer or deliver to the Buyer from time to time, any cash or other property that any of the Sellers may receive with respect to any claims, contracts, licenses, leases, commitments, sales orders, purchase orders, or any other item required to be transferred to the Buyer pursuant to this Agreement.
Collection of Assets. (a) Effective as of the Closing Date, each Seller hereby constitutes and appoints the Buyer the true and lawful attorney of such Seller, with full power of substitution, in the name and on behalf of such Seller but for the benefit of and at the sole cost and expense of the Buyer, to institute and prosecute proceedings that the Buyer may deem proper in order to collect, assert or enforce any claim, right or title of any kind in or to the Acquired Assets or the Assumed Liabilities, or to defend or compromise any Action in respect of any of the Acquired Assets or the Assumed Liabilities, and to take all such action in relation thereto as the Buyer shall deem advisable. Each Seller acknowledges that such powers will be coupled with an interest and will not be revocable by such Seller for any reason. The Buyer will retain for its own account any amount collected as a result of any action taken pursuant to the foregoing powers.
(b) All assets, amounts and proceeds which are received (whether received in lock boxes, via wire transfer, by check or otherwise) or possessed by any Seller or any Affiliate of any thereof at or after the Closing Date in respect of the Acquired Assets or the Assumed Liabilities will be received or possessed and held in trust for the benefit of the Buyer and will be forthwith paid over to the Buyer in the form so received or possessed (with any necessary endorsement). Without limiting the generality of the foregoing, each Seller will, and will cause each of their respective Affiliates to, wire transfer to an account designated by the Buyer all payments in respect of accounts receivable which constitute Acquired Assets received by such Seller or any Affiliate of any thereof within three business days after receipt thereof. Effective as of the Closing Date, each Seller, on behalf of itself and its respective Affiliates, hereby grants to the Buyer the right and authority to endorse without recourse the name of such Seller or any Affiliate of any thereof on any check or any other evidences of indebtedness or negotiable instruments received by the Buyer on account of any accounts receivable or other Acquired Assets transferred to Buyer hereunder.
Collection of Assets. Subsequent to the Closing, Buyer shall have the right and authority to collect all receivables and other items transferred and assigned to it by Target hereunder and to endorse with the name of Target any checks received on account of such receivables or other items, and Target agrees that it will promptly transfer or deliver to Buyer from time to time, any cash or other property that Target may receive with respect to any claims, contracts, licenses, leases, commitments, sales orders, purchase orders, receivables of any character included in the Acquired Assets or any other items included in the Acquired Assets.
Collection of Assets. Subsequent to the Closing, Buyer shall have the right and authority to collect all Receivables and other items transferred and assigned to it by Seller hereunder and to endorse with the name of Seller any checks received on account of such Receivables or other items, and Seller agrees that it will promptly transfer or deliver to Buyer within ten (10) business days any cash or other property that Seller may receive with respect to any Receivables of any character or any other items included in the Subject Assets.