Common use of Payments Received Clause in Contracts

Payments Received. Seller and Purchaser each agree that, after the Effective Date, it shall hold and shall promptly transfer and deliver to the other Party, from time to time as and when received by it and in the currency received, any cash, checks with appropriate endorsements (using commercially reasonable efforts not to convert such checks into cash), or other property that they may receive after the Effective Date hereof which property belongs to the other Party, including any payments of accounts receivable and insurance proceeds, and shall account to the other Party for all such receipts. In the event of a dispute between the Parties regarding any Party’s obligations under this Section 6.5, the Parties shall cooperate and act in good faith to promptly resolve such dispute and, in connection with such cooperation, allow each other reasonable access to the records of the other relating to such disputed item.

Payments Received. Seller and Purchaser each agree that, after the Effective Datedate hereof, it shall hold and shall promptly transfer and deliver to the other Party, from time to time as and when received by it and in the currency received, any cash, checks with appropriate endorsements (using commercially reasonable efforts not to convert such checks into cash), or other property that they may receive after the Effective Date date hereof which property belongs to the other Party, including any payments of accounts receivable and insurance proceeds, and shall account to the other Party for all such receipts. In the event of a dispute between the Parties regarding any Party’s obligations under this Section 6.5, the Parties shall cooperate and act in good faith to promptly resolve such dispute and, in connection with such cooperation, allow each other reasonable access to the records of the other relating to such disputed item.

Payments Received. Seller Sellers and Purchaser each agree that, after the Effective Closing Date, it they shall hold and shall promptly transfer and deliver to the other Partyparty, from time to time as and when received by it and in the currency received, any cash, checks with appropriate endorsements (using commercially reasonable efforts not to convert such checks into cash), or other property that they may receive after the Effective Date date hereof which property belongs to the other Partyparty, including any payments of accounts receivable and insurance proceeds, and shall account to the other Party party for all such receipts. In the event of a dispute between the Parties parties regarding any Partyparty’s obligations under this Section 6.55.13, the Parties parties shall cooperate and act in good faith to promptly resolve such dispute and, in connection with such cooperation, allow each other reasonable access to the records of the other relating to such disputed item.

Payments Received. Seller and Purchaser each Buyer agree that, after the Effective Closing Date, it they shall hold and shall promptly transfer and deliver to the other Partyparty, from time to time as and when received by it and in the currency received, any cash, checks with appropriate endorsements (using commercially reasonable efforts not to convert such checks into cash), ) or other property that they may receive after the Effective Closing Date hereof which property belongs to the other Partyparty, including any payments of accounts receivable and insurance proceeds, and shall account to the other Party party for all such receipts. In the event of a dispute between the Parties parties regarding any Party’s party's obligations under this Section 6.55.12, the Parties parties shall cooperate and act in good faith to promptly resolve such dispute and, in connection with such cooperation, allow each other reasonable access to the records of the other relating to such disputed item.

Payments Received. Seller Holders and Purchaser each Buyer agree that, after the Effective Closing Date, it they shall hold and shall promptly transfer and deliver to the other Partyparty, from time to time as and when received by it and in the currency received, any cash, checks with appropriate endorsements (using commercially reasonable efforts not to convert such checks into cash), ) or other property that they may receive after the Effective Closing Date hereof which property belongs to the other Partyparty, including any payments of accounts receivable and insurance proceeds, and shall account to the other Party party for all such receipts. In the event of a dispute between the Parties parties regarding any Partyparty’s obligations under this Section 6.55.6, the Parties parties shall cooperate and act in good faith to promptly resolve such dispute and, in connection with such cooperation, allow each other reasonable access to the records of the other relating to such disputed item.