Manufacturer Payments. The Parties shall use their commercially reasonable efforts to ensure that (i) amounts due to Seller but collected by Buyer (e.g., Manufacturer receivables, Manufacturer credits relating to items such as warranty claims or other claims, credit card payments, etc.) arising out of or in connection with the operation of the Dealership prior to Closing will be paid over to Seller promptly; (ii) amounts due to Buyer but collected by Seller arising out of or in connection with the operation of the Dealership on or following the Closing or as provided in this Agreement will be paid over to Buyer promptly; (iii) amounts paid by Seller but owed by Buyer as a result of Manufacturer erroneously billing Seller for items arising out of or in connection with the operation of the Dealership following Closing will be paid over to Seller promptly; and (iv) amounts paid by Buyer but owed by Seller (e.g., any finance contract chargebacks, insurance (e.g. credit life, accident and health, extended warranty, etc.) chargebacks, or repossessions and all rebates to Seller’s customers of premiums for credit life insurance, credit accident and health insurance, mechanical insurance coverage and GAP insurance) as a result of Manufacturer or any third party erroneously billing Buyer for items arising out of or in connection with the operation of the Dealership prior to Closing will be paid over to Buyer promptly. This section survives Closing indefinitely. If there are vehicles in-transit on the Closing Date (whether or not they are physically present) that have not been funded by Seller’s floor plan lender and the Parties do not know whether they will be paid for by Buyer’s floor plan lender or Seller’s floor plan lender, then the Parties may separately schedule those vehicles, Buyer will buy them but not pay for them, and, if such vehicles are funded by Seller’s floor plan lender, then Seller shall notify Buyer and Buyer shall promptly pay Seller’s floor plan lender such amounts. Any other payments related to such vehicles misdirected by the Manufacturer will be redistributed as contemplated by this Section 9(e). Buyer with any needed cooperation of Seller shall undertake all accounting, bookkeeping and reconciliation as necessary under this section and shall make all payments as necessary. On a monthly basis, Buyer shall present Seller with a reconciliation and the amount owed by Buyer or by Seller (if any) and the parties shall pay any amounts owing to the other within ten (10) b...
Manufacturer Payments. Cause each Manufacturer and auction dealer to make all payments made by it under the Manufacturer Programs with respect to Vehicles leased hereunder directly to the Collection Account. Any such payments from Manufacturers or related auction dealers received directly by the Guarantor or any Lessee, will be, within three Business Days of receipt, deposited into the Collection Account.
Manufacturer Payments. The parties shall work together and use their commercially reasonable efforts to ensure that (a) amounts due to Seller but collected by Xxxxx · (e.g . , Manufacturer receivables, Manufacturer credits relating to items such as warranty claims or other claims, crectit card payments , etc.) arising out of or in connection with the operation of the Business prior to X x xxxxx shall be paid over to Seller promptly, (b) amounts due to Buyer but collected by Seller arising out of or in connection with the operation of the Business on or following the Closing or as provided in this Agreement shall be paid over to Buyer promptly, (c) . amounts paid by Seller but owed by Xxxxx as a result of Manufacturer erroneously billing Seller for items arising out of or in connection with the operation of the Business following Closing shall
Manufacturer Payments. MANUFACTURER shall pay to Company the sum “[redacted]” after the sale of the “[redacted]” BTS instrument (Product) under this Agreement. In addition, MANUFACTURER shall pay to Company “[redacted]” after the sale of the “[redacted]”BTS instrument (Product) under this Agreement. The payments under this section 3.1 are unrefundable once made.
Manufacturer Payments. Sales Proceeds. Any payments from Manufacturers in respect of Vehicles other than Exchanged Vehicles (whether relating to Financed Vehicles or to Acquired Vehicles) received directly by the Lessee will, within two Business Days of receipt, be deposited into the Master Collateral Account. Any payments from Manufacturers in respect of Exchanged Vehicle Repurchase Rights which payments are received directly by the Lessee will, within two Business Days of receipt, be deposited into the Exchange Account. The Lessee shall, within two Business Days of receipt thereof, deposit into the Master Collateral Account all amounts received by the Lessee directly, which amounts represent the proceeds from sales of Vehicles by auction dealers under a Guaranteed Depreciation Program and sales of Vehicles (including amounts paid to the Lessee by a Manufacturer as a result of the Lessee's sale of such Vehicle outside such Manufacturer's Manufacturer Program) by the Lessee to third parties (other than under any related Manufacturer Program) and all payments with respect to other Master Collateral (other than the Master Collateral described in the last sentence of this paragraph). Insurance proceeds (other than Exchanged Vehicle Insurance Proceeds) with respect to Vehicles will only be deposited into the Master Collateral Account if an Amortization Event or Potential Amortization Event shall have occurred and be continuing.
Manufacturer Payments. The Parties shall use their commercially reasonable efforts to ensure that (i) amounts due to Seller but collected by Buyer (e.g., Manufacturer receivables, Manufacturer credits relating to items such as warranty claims or other claims, credit card payments, etc.) arising out of or in connection with the operation of the Dealership prior to Closing will be paid over to Seller promptly; (ii) amounts due to Buyer but collected by Seller arising out of or in connection with the operation of the Dealership on or following the Closing or as provided in this Agreement will be paid over to Buyer promptly; (iii) amounts paid by Seller but owed by Buyer as a result of Manufacturer erroneously billing Seller for items arising out of or in connection with the operation of the Dealership following Closing will be paid over to Seller promptly; and (iv) amounts paid by Buyer but owed by Seller (e.g., any Chargebacks, or repossessions and all rebates to Seller’s customers of premiums for credit life insurance, credit accident and health insurance, mechanical insurance coverage and GAP insurance) as a result of Manufacturer erroneously billing Buyer for items arising out of or in connection with the operation of the Dealership prior to Closing will be paid over to Buyer promptly.
