Common use of Customer Payments Clause in Contracts

Customer Payments. Following the Closing, it is anticipated that certain customers might possibly pay the incorrect party for invoices of the other party, due to administrative error, or for other reasons. Buyer and Seller agree to pay to the other party any payments received by one party that rightfully belong to the other party within five business days of receipt of such payment.

Appears in 6 contracts

Samples: Asset Purchase Agreement (INX Inc), Asset Purchase Agreement (INX Inc), Asset Purchase Agreement (INX Inc)

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Customer Payments. Following the Closing, it is anticipated that certain customers might possibly pay the incorrect party for invoices of the other party, due to administrative error, or for other reasons. Buyer and Seller agree to pay to the other party any payments received by one party that rightfully belong to the other party within five business days of receipt of such payment. Each party hereby agrees to reasonably cooperate with the other party and provide such information as is reasonable required to reconcile any incorrect payments made to either party by any third party.

Appears in 1 contract

Samples: Asset Purchase Agreement (I Sector Corp)

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