Common use of Deposits and Prepayments Clause in Contracts

Deposits and Prepayments. Subject to the adjustment and proration of items as of the Closing as contemplated by Sections 2.6.3 and Section 2.7, all advance payments, prepayments, prepaid expenses, deposits and other similar payments made by the Seller to the extent related to the Purchased Assets and existing as of the Closing (collectively, “Prepayments”), including those Prepayments listed by category and approximate amount on Schedule 2.1.10 as of the close of the most recent fiscal quarter ended at least one month prior to the date of this Agreement. Prior to the Closing, the amount of the Prepayments set forth on Schedule 2.1.10 shall be updated by the Seller as of two (2) Business Days prior to the scheduled Closing Date.

Appears in 2 contracts

Samples: Asset Sale and Purchase Agreement (PBF Energy Inc.), Asset Sale and Purchase Agreement (PBF Energy Inc.)

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Deposits and Prepayments. Subject to the adjustment and proration of items as of the Closing as contemplated by Sections 2.6.3 Section 2.6.4 and Section 2.7, all advance payments, prepayments, prepaid expenses, deposits and other similar payments made by or on behalf of the Seller to the extent related to the Purchased Assets and the Business and existing as of the Closing (collectively, “Prepayments”), including those Prepayments listed by category and approximate amount on Schedule 2.1.10 2.1.11 as of the close of the most recent fiscal quarter ended at least one month prior to the date of this Agreement. Prior to the Closing, the amount of the Prepayments set forth on Schedule 2.1.10 2.1.11 shall be updated by the Seller as of two (2) Business Days prior to the scheduled Closing Date.

Appears in 2 contracts

Samples: Asset Sale and Purchase Agreement (Holly Corp), Asset Sale and Purchase Agreement (Holly Energy Partners Lp)

Deposits and Prepayments. Subject to the adjustment and proration of items as of the Closing as contemplated by Sections Section 2.6.3 and Section 2.7, all advance payments, prepayments, prepaid expenses, deposits and other similar payments made by or on behalf of the Seller to the extent related to the Purchased Assets and the Business and existing as of the Closing (collectively, “Prepayments”), including those Prepayments listed by category and approximate amount on Schedule 2.1.10 2.1.11 as of the close of the most recent fiscal quarter ended at least one month prior to the date of this Agreement. Prior to the Closing, the amount of the Prepayments set forth on Schedule 2.1.10 2.1.11 shall be updated by the Seller as of two (2) Business Days prior to the scheduled Closing Date.

Appears in 1 contract

Samples: Asset Sale and Purchase Agreement (Holly Corp)

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Deposits and Prepayments. Subject to the adjustment and proration of items as of the Closing as contemplated by Sections Section 2.6.3 and Section 2.7, all advance payments, prepayments, prepaid expenses, deposits and other similar payments made by or on behalf of the Seller to the extent related to the Purchased Assets and the Business and existing as of the Closing (collectively, “Prepayments”), including those Prepayments listed by category and approximate amount on Schedule 2.1.10 2.1.11 as of the close of the most recent fiscal quarter ended at least one month prior to the date of this Agreement. Prior to the Closing, the amount of the Prepayments set forth on Schedule 2.1.10 2.1.11 shall be updated by the Seller as of two (2) Business Days prior to the scheduled Closing Date.. 2.1.12

Appears in 1 contract

Samples: Asset Sale and Purchase Agreement

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