Common use of Payment of Retained Accounts Payable Clause in Contracts

Payment of Retained Accounts Payable. The Contributor will retain all accounts payable including Retained Accounts Payable; however the Partnership, as payment agent of the Contributor, shall pay such amounts on behalf of the Contributor on a timely basis. As soon as practicable following the end of each month after which such Retained Accounts Payable are paid by the Partnership, but in any event within fifteen days after the end of such month, each Contributor will reimburse the Partnership for such payments attributable to its Contributed Business.