Common use of Handling of Cash and Other Payments Clause in Contracts

Handling of Cash and Other Payments. Seller shall promptly deliver to Buyer any cash, checks or other instruments of payment received by Seller after the Effective Time in respect of the Purchased Assets or Assigned Contracts relating to periods after the Effective Time. Likewise, Buyer shall promptly deliver to Seller any cash, checks or other instruments of payment received by Buyer after the Effective Time in respect of the Purchased Assets or Assigned Contracts relating to periods before the Effective Time. If a payment is received by a Party for services or products provided by the Vessels both prior to and after the Effective Time and there is no clear delineation of the amounts attributed to the periods preceding and following the Effective Time, then the Parties shall use reasonable proration techniques to allocate such amounts in a manner such that Seller will receive amounts attributable to the operation of the Vessels prior to the Effective Time and Buyer will receive amounts attributable to the operation of the Vessels after the Effective Time.

Handling of Cash and Other Payments. Seller The Sellers shall promptly deliver to the Buyer any cash, checks or other instruments of payment received by Seller the Sellers after the Effective Time in respect of the Purchased Assets or Assigned Contracts relating to periods after the Effective Time. Likewise, the Buyer shall promptly deliver to Seller the Sellers any cash, checks or other instruments of payment received by the Buyer after the Effective Time in respect of the Purchased Assets or Assigned Contracts relating to periods before the Effective Time. If a payment is received by a Party for services or products provided by the Vessels both prior to and after the Effective Time and there is no clear delineation of the amounts attributed to the periods preceding and following the Effective Time, then the Parties shall use reasonable proration techniques to allocate such amounts in a manner such that Seller the Sellers will receive amounts attributable to the operation of the Vessels prior to the Effective Time and the Buyer will receive amounts attributable to the operation of the Vessels after the Effective Time.

Handling of Cash and Other Payments. The Seller shall promptly deliver to the Buyer any cash, checks or other instruments of payment received by the Seller after the Effective Time in respect of the Purchased Assets or Assigned Contracts relating to periods after the Effective Time. Likewise, the Buyer shall promptly deliver to the Seller any cash, checks or other instruments of payment received by the Buyer after the Effective Time in respect of the Purchased Assets or Assigned Contracts relating to periods before the Effective Time. If a payment is received by a Party for services or products provided by the Vessels both prior to and after the Effective Time and there is no clear delineation of the amounts attributed to the periods preceding and following the Effective Time, then the Parties shall use reasonable proration techniques to allocate such amounts in a manner such that the Seller will receive amounts attributable to the operation of the Vessels prior to the Effective Time and the Buyer will receive amounts attributable to the operation of the Vessels after the Effective Time.