Common use of Exposed Payments Clause in Contracts

Exposed Payments. Upon termination of this Agreement Seller shall pay to Purchaser (or Purchaser may retain), to hold in a non-segregated, non-interest-bearing account the amount of all Exposed Payments (the “Preference Reserve”). Purchaser may charge the preference reserve with the amount of any Exposed Payments that Purchaser pays to the bankruptcy estate of the Payor that made the Exposed Payment, because of a claim asserted under Section 547 of the Bankruptcy Code. Purchaser shall refund to Seller from time to time that balance of the preference reserve for which a claim under Section 547 of the Bankruptcy Code can no longer be asserted due to the passage of the statute of limitations, settlement with the bankruptcy estate of the Payor or otherwise.

Exposed Payments. Upon termination of this Agreement Seller shall pay to Purchaser (or Purchaser may retain), retain to hold be held in a non-segregated, segregated non-interest-bearing account account) the amount of all Exposed Payments (the “Preference Reserve”). Purchaser may charge the preference reserve Preference Reserve with the amount of any each Exposed Payments Payment that Purchaser pays to the bankruptcy estate or designated Trustee of the Payor Obligor that made the Exposed Payment, because on account of a claim asserted under Section 547 of the Bankruptcy Code. Purchaser shall refund to Seller from time to time that balance of the preference reserve Preference Reserve for which a claim under Section 547 of the Bankruptcy Code can no longer be asserted due to the passage of the statute of limitations, settlement with the bankruptcy estate of the Payor Obligor or otherwise.

Exposed Payments. Upon termination of this Agreement Agreement, Seller shall pay to Purchaser (or Purchaser may retain), to hold in a non-segregated, non-interest-bearing account the amount of all Exposed Payments (the “Preference Reserve”). Purchaser may charge the preference reserve with the amount of any Exposed Payments that Purchaser pays to the bankruptcy estate of the Payor that made the Exposed Payment, because of a claim asserted under Section 547 of the Bankruptcy Code. Purchaser shall refund to Seller from time to time that balance of the preference reserve for which a claim under Section 547 of the Bankruptcy Code can no longer be asserted due to the passage of the statute of limitations, settlement with the bankruptcy estate of the Payor or otherwise.

Exposed Payments. Upon termination of this Agreement Seller shall pay to Purchaser (or Purchaser may retain), to hold in a non-segregated, segregated non-interest-interest bearing account the amount of all Exposed Payments (the “"Preference Reserve”"). Purchaser may charge the preference reserve Preference Reserve with the amount of any Exposed Payments that Purchaser pays to the bankruptcy estate of the Payor Account Debtor that made the Exposed Payment, because on account of a claim asserted under Section 547 of the Bankruptcy Code. Purchaser shall refund to Seller from time to time that balance of the preference reserve Preference Reserve for which a claim under Section 547 of the Bankruptcy Code can no longer be asserted due to the passage of the statute of limitations, settlement with the bankruptcy estate of the Payor Account Debtor or otherwise. Purchaser may retain the Reserve Account unless and until Seller has executed and delivered to Purchaser a general release.