Post-Closing Receipts. In the event that either party after the Closing Date receives any funds properly belonging to the other party in accordance with the terms of this Agreement, the receiving party will promptly so advise such other party, will segregate and hold such funds in trust for the benefit of such other party and will promptly deliver such funds, together with any interest earned thereon, to an account or accounts designated in writing by such other party.
Post-Closing Receipts. In the event that any rentals for any of the Leases remain unpaid at the Closing Date, Purchaser shall use reasonable efforts after the Closing Date to collect such rentals and promptly deliver all rentals so collected ("Post-Closing Receipts") to Seller; provided, however, that Purchaser shall not be required to institute any legal actions as a means of attempting to collect such rentals. In the event that any tenant's legal right to possession has been terminated prior to the end of the Inspection Period, Seller retains all rights to any delinquent rent from such tenant, including the right to institute any legal actions as a means of attempting to collect such rentals. In the event that any tenant is delinquent in the payment of rent by more than 60 days as of the end of the Inspection Period, but such tenant's legal right to possession has not been terminated, all such delinquent rent received by Purchaser after Closing shall belong to Purchaser. All other delinquent rentals received by Purchaser prior to November 30, 1997 shall be applied first to amounts owing Seller, and then to pay any current obligations of the tenant(s) in question, and Seller waives the right to institute any legal actions as a means of attempting to collect such rentals. Seller retains the right to conduct an audit, at reasonable times and upon reasonable notice, but not after December 31, 1997, of Purchaser's books and records to verify the accuracy of the Post-Closing Receipts reconciliation statement and upon the verification of additional funds owing to Seller, Purchaser shall pay to Seller said additional Post-Closing Receipts and the cost of performing Seller's audit. Paragraph 12.2 of this Agreement shall survive the Closing and the delivery and recording of the Deed.
Post-Closing Receipts. To the extent that, after the Closing, (a) the Buyer or any of its Affiliates receives any mail for the Seller or its Affiliates, or any payment or instrument that is for the account of the Seller or any of its Affiliates according to the terms of this Agreement, the Buyer shall promptly deliver such mail, amount or instrument to the Seller, and (b) the Seller or any of its Affiliates receives any mail for the Buyer or its Affiliates, or any payment or instrument that is for the account of the Buyer or any of its Affiliates according to the terms of this Agreement, the Seller shall promptly deliver such mail, amount or instrument to the Buyer.
Post-Closing Receipts. From and after the Closing Date, Seller Parties will promptly notify and transfer to Buyer any payments or other receipts they receive with respect to any of the Purchased Assets. Pending any such transfer, Seller Parties will segregate any such payments from their other assets and will clearly mark or designate them as the property of Buyer.
Post-Closing Receipts. If at any time following the Closing Date, Seller or any Principal Owner receives, or comes into possession of, any of the Purchased Property or any receipts, proceeds, checks, securities or other property of any kind comprising, arising out of or derived from the Purchased Property, then Seller or such Principal Owner shall immediately deliver it to the Seller with such endorsements, transfers or assignments as may be necessary or useful to ensure that the Seller receives the immediate and full benefit thereof.
Post-Closing Receipts. (a) The Subsidiaries of the Company shall be entitled to receive, and WCPT shall pay to the Company if received by WCPT or any of its Affiliates, all income with respect to the WCPT Properties that is received on or after the Initial Closing Date which relates to any event or period after the Closing, provided that WCPT shall be entitled to receive, and the Company and its Subsidiaries shall pay to WCPT if received by any of them, all rents and other receivables with respect to the WCPT Properties owing by tenants or other Persons at the WCPT Properties which accrued prior to the Closing unless and to the extent any amounts are then due and payable by the payor of such income to the Company or one of its Subsidiaries on account of any period after the Closing and such payment is not specifically designated to be applied to amounts owing which relate to events or periods prior to the Closing.
(b) The Subsidiaries of the Company shall be entitled to receive, and Whitehall shall pay to the Company if received by Whitehall or any of its Affiliates, all income with respect to the Whitehall Properties that is received on or after the Initial Closing Date which relates to any event or period after the Closing, provided that Whitehall shall be entitled to receive, and the Company and its Subsidiaries shall pay to Whitehall if received by any of them, all rents and other receivables with respect to the Whitehall Properties owing by tenants or other Persons at the Whitehall Properties which accrued prior to the Closing unless and to the extent any amounts are then due and payable by the payor of such income to the Company or one of its Subsidiaries on account of any period after the Closing and such payment is not specifically designated to be applied to amounts owing which relate to events or periods prior to the Closing.
(c) The Subsidiaries of the Company shall be entitled to receive, and Whitehall shall pay to the Company if received by Whitehall or any of its Affiliates, all income with respect to the Whitehall Additional Properties that is received on or after the Additional Closing Date which relates to any event or period after the Additional Closing, provided that Whitehall shall be entitled to receive, and the Company and its Subsidiaries shall pay to Whitehall if received by any of them, all rents and other receivables with respect to the Whitehall Properties owing by tenants or other Persons at the Whitehall Additional Properties which accrued prior to t...
Post-Closing Receipts. If at any time following the Closing Date, Seller receives, or comes into possession of, any of the Purchased Assets or any receipts, proceeds, checks, securities or other property of any kind comprising, arising out of or derived from the Purchased Assets, Seller shall immediately deliver it to Buyer, with such endorsements, transfers or assignments as may be necessary or useful to ensure that Buyer receives the immediate and full benefit thereof. If at any time following the Closing Date, Buyer receives, or comes into possession of, any of the Excluded Assets or any receipts, proceeds, checks, securities or other property of any kind comprising, arising out of or derived from the Excluded Assets, Buyer shall immediately deliver it to Seller, with such endorsements, transfers or assignments as may be necessary or useful to ensure that Seller receives the immediate and full benefit thereof.
Post-Closing Receipts. (a) If at any time following the Time of Closing, the Seller receives, or comes into possession of, any of the Purchased Assets or any receipts, proceeds, cheques, securities or other property of any kind comprising, arising out of or derived from the Purchased Assets (including any cheques, notes or cash in payment of any Account Receivable and any other intangible constituting part of the Purchased Assets), or any invoices for amounts included in the Assumed Liabilities that are payable by the Buyer, the Seller shall immediately deliver that Purchased Asset or receipt, proceed, cheque, security or other property or invoice to the Buyer, with any endorsements, transfers or assignments that may be necessary or desirable to ensure that the Buyer receives the immediate and full benefit of that Purchased Asset or receipt, proceed, cheque, security or other property or any other information available to the Seller that is required to allow the Buyer to pay the invoice;
(b) If at any time following the Time of Closing, the Buyer receives, or comes into possession of, any asset or any receipts, proceeds, cheques, securities or other property of any kind that is retained by the Seller pursuant to this Agreement, (excluding any cheques, notes or cash in payment of any Account Receivable) or any invoices for amounts that are not included in the Assumed Liabilities that are payable by the Seller, the Buyer shall immediately deliver that asset or receipt, proceed, cheque, security or other property or invoice to the Seller, with any endorsements, transfers to assignments as may be necessary or desirable to ensure that the Seller receives the immediate and full benefit of that asset or receipt, proceed, cheque, security or other property or any other information available to the Buyer that is required to allow the Seller to pay the invoice.
Post-Closing Receipts. Seller shall hold in trust for, and promptly remit to Purchaser without deduction, any amounts collected or received by Seller that relate to the Business or Purchaser following the Closing. Purchaser shall hold in trust for, and promptly remit to Seller without deduction, any amounts collected or received by Purchaser that either constitute accounts receivable related to Product sold by Seller prior to the Closing Date, or that do not relate to the Transferred Assets.
Post-Closing Receipts. To the extent that, after the Closing, (a) Buyer or any of its Affiliates (including the Acquired Companies) receives any mail for Seller or its Affiliates, or any payment or instrument that is for the account of Seller or any of its Affiliates, Buyer shall promptly deliver such mail, amount or instrument to Seller, and (b) Seller or any of its Affiliates receives any mail for Buyer or its Affiliates (including the Acquired Companies), or any payment or instrument that is for the account of Buyer or any of its Affiliates (including the Acquired Companies), Seller shall promptly deliver such mail, amount or instrument to Buyer.
