Payments Received after Closing. With respect to all Kiosks operated by Seller, to the extent any inventory has been rented but not returned on or prior to the Closing Date ("Open Transactions"), the cash collected from and the liabilities relating to any such Open Transaction shall be that of the Seller. With respect to Kiosks operated pursuant to a Retailer Agreement which has been assigned to Buyer, the Seller shall deliver a letter of direction to its payment processor which shall direct payment to be made to Buyer for all transactions occurring on such Kiosks after the Closing Date.
Payments Received after Closing. Section 4.10 of the Agreement is hereby deleted in its entirety and replaced with the following language:
Payments Received after Closing. Any and all payments or other proceeds received by any Seller after Closing with respect to any Transferred Asset, which payments or proceeds are due as a result of activities occurring after the Closing, shall be for the account of Purchaser. All such payments and other proceeds so received shall be held by such Seller in trust for the benefit of Purchaser and shall be paid promptly to Purchaser.
Payments Received after Closing. Section 4.10 of the Agreement is hereby deleted in its entirety and replaced with the following language: - 4 - “(a) With respect to all Kiosks operated by Seller prior to Closing, to the extent any inventory has been rented but not returned on or before 11:59 p.m. Eastern time on the Closing Date (the “Open Transactions”), the revenue collected from and the liabilities relating to any such Open Transaction shall be those of Seller. Within 30 days following the receipt of an invoice and supporting documentation from Seller (and reasonably acceptable to Buyer) relating to the revenue collected from Open Transactions, Buyer shall remit to Seller the revenue (minus applicable payment processing fees) received by Buyer from Seller's payment processor (together with the amount of any and all related Taxes collected) with respect to the Open Transactions. Seller shall timely remit to the applicable taxing authorities any and all Taxes collected with respect to the Open Transactions. (b) With respect to Kiosks operated pursuant to a Retailer Agreement which has been assigned to Buyer, Seller shall deliver a letter of direction to Seller's payment processor prior to Closing (in a form acceptable to Buyer) which shall direct payment to be made to Buyer for all transactions occurring on such Kiosks after 11:59 p.m. Eastern time on the Closing Date (the “Post-Closing Transactions”). With respect to Post-Closing Transactions, payment processing obligations are to be satisfied and procedures are to be carried out consistent with Schedule 1.2 to Schedule A of the Transition Services Agreement. (c) Buyer and Seller shall cooperate and shall take such further actions, as and to the extent reasonably requested by the other party, as necessary to determine the amounts due to the parties under this Section 4.10.” 12. Section 4.13
Payments Received after Closing. If at any xxxx Xxxxxx receives any payments from any customers of the MBS Business that were included in the Acquired Assets for items that are not included in the Included Accounts Receivable and that were billed by Seller prior to the Closing for services that Buyer is obligated to provide after the Closing, then Seller shall promptly remit such payments to Buyer.
Payments Received after Closing. After the Closing, Buyer or its designated employees shall receive all payments relating to the Business or Acquired Assets and credit such payments to the proper accounts.
Payments Received after Closing. After the Closing, Seller and Purchaser shall promptly transfer and deliver to the other party, from time to time as and when received by them, any and all cash, checks (with appropriate endorsements, using their best efforts not to convert such checks into cash), and other property that it may receive after the Closing which properly belong to the other party and shall account to the other party for all such receipts. After the Closing, Purchaser shall have the right and authority to endorse without recourse the name of Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Assets purchased by Purchaser hereunder.
Payments Received after Closing. Section 8.1 is hereby amended to add new Section 8.1(c) to read as follows:
Payments Received after Closing. If , after the Closing, the Company ------------------------------- receives any fees, payments or revenues from any Transferred Clients on account of services rendered before or after the Closing, the Company shall promptly (and in any event within ten (10) Business Days) remit such fees, payments or revenues to the Purchaser (less any costs, fees or commissions necessarily payable to other Persons by the Company on account thereof).
Payments Received after Closing. To the extent that, after Closing, either Buyer or Seller shall receive any payments from any third parties relating to the operations at the Business and attributable to the period prior to (in the case of receipt by Buyer), or after (in the case of receipt by Seller) the Closing Date, the party receiving the same shall promptly make delivery thereof to the party hereto entitled to such payment.
