Post-Closing Remittances. If on or after the Closing Date, either Party receives a payment from a Third Party (including a customer of the Seller Business) that, pursuant to the terms hereof, should have been paid to the other Party, the Party who receives the payment agrees to hold in trust and remit such payment to the Party entitled thereto within five (5) Business Days of such receipt.
Post-Closing Remittances. If, after the Closing Date, Seller shall receive any remittance from any account debtors with respect to any accounts or notes receivable included in the Purchased Assets, Seller shall endorse such remittance to the order of Buyer and forward it to Buyer promptly following receipt thereof.
Post-Closing Remittances. (a) From and after the Closing Date, if the Seller or any of its Affiliates receives any payment from a third party that is owed to a Purchased ELN Company, the Seller shall hold, or cause the applicable Affiliate to hold, such payment in trust and promptly (and in no event later than 30 days following receipt) remit such amounts to the Purchaser or the Purchased ELN Company.
(b) From and after the Closing Date, if the Purchaser or any of its Affiliates (including the Purchased ELN Companies) receives any payment from a third party that is owed to the Seller or any of its Affiliates, the Purchaser shall hold, or cause the applicable Affiliate to hold, such payment in trust and promptly (and in no event later than 30 days following receipt) remit such amounts to the Seller.
Post-Closing Remittances. After the Closing, if the Purchaser or the Seller or any of his respective agents or Affiliates receives any payment from a third party that is owed to the other Party pursuant to the terms of this Agreement, the Purchaser and the Seller, as applicable, shall promptly (and in no event later than ten (10) days following receipt) remit such payment to the other Party.
Post-Closing Remittances. If, after the Closing Date, the Members shall receive any remittance from any account debtors with respect to the Accounts Receivable, the Members shall forward it to the Company promptly following receipt thereof.
Post-Closing Remittances. If, after the Closing Date, Seller or Delta shall receive any remittance from any account debtors owed to the other, Seller or Delta, as the case may be, shall endorse such remittance or otherwise forward it to the other promptly following receipt thereof.
Post-Closing Remittances. (a) On or after the Closing Date, if Purchaser or its Affiliates receives any repayment or reimbursement of the Outstanding GLS Servicing Advance Amount, the Outstanding GKKL Interest Advance Amount or the Outstanding GKKM Special Servicing Advance Amount, Purchaser shall or shall cause (i) all such repayments or reimbursements of the Outstanding GKKL Interest Advance Amount actually received by Purchaser or its Affiliates to be promptly paid-over and delivered directly to the Sellers and (ii) all such repayments or reimbursements of the Outstanding GLS Servicing Advance Amount and the Outstanding GKKM Special Servicing Advance Amount actually received by Purchaser or its Affiliates to be promptly paid-over and delivered directly to the Sellers, in each case, subject to the provisions of the Servicing Subordination Agreement, in all cases unconditionally, without reduction, set-off or any other limitation, except as described herein, to a bank account designated in writing by the Sellers, it being understood and agreed that Purchaser shall have no interest in or right to any such repayment or reimbursement of the Outstanding GLS Servicing Advance Amount, the Outstanding GKKL Interest Advance Amount and the Outstanding GKKM Special Servicing Advance Amount.
(b) On or after the Closing Date, if any Seller or any of their Affiliates receives any (i) collateral management fees or Advancing Agent Fees (as defined in each CDO Indenture) pursuant to the Assigned CDO Agreements, (ii) reimbursement of Cure Advances (including any Nonrecoverable Cure Advances and any interest thereon), Interest Advances (including any Nonrecoverable Advance and any interest thereon) (each as defined in each CDO Indenture) or other amounts payable to Purchaser under the Assigned CDO Agreements, or (iii) Accrued Servicing Fees or other special servicing fees, workout fees, liquidation fees or compensation due and payable to Purchaser or Purchaser’s Affiliates or designees under the Servicing Documents, such Seller shall promptly pay-over and deliver or cause to be paid-over and delivered directly to Purchaser all such fees, amounts and compensation as actually received by such Seller or its Affiliates, in all cases unconditionally, without reduction, set-off or any other limitation, to a bank account designated in writing by Purchaser, it being understood and agreed that the Sellers shall have no interest in or right to any such fees, amounts or compensation.
(c) Absent manifest error...
Post-Closing Remittances. All payments and reimbursements derived from the Conveyed Property (including any amounts payable to Buyer pursuant to Section 6.11) and received by any Seller Party on or after the Closing Date shall be the property of Buyer and shall be held in trust by such Seller for the benefit of Buyer, and such Seller Party will promptly transmit, by wire transfer of immediately available funds to an account designated by Buyer, to Buyer for Buyer’s own account (within three Business Days of such Seller Party’s receipt thereof) all such payments and reimbursement.
Post-Closing Remittances. If, on or after the Closing Date, Purchaser or the Seller or any of their respective Affiliates receives any mail, courier package, facsimile transmission, purchase order, invoice, service request or other document or property intended for or otherwise the property of such other party pursuant to the terms of this Agreement, the party that receives such property agrees to hold it in trust and promptly notify and remit such property to the party entitled thereto within three (3) Business Days of receipt.
Post-Closing Remittances. If, after the Closing Date, the Secured Party, Laurus or Debtor shall receive any remittance of money or communication with respect to any Purchased Assets, it shall endorse or otherwise transfer or pay over such remittance to the Buyer and shall forward such remittance or communication, as applicable, to the Buyer within two (2) Business Days of receipt in the manner and/or to the account specified by the Buyer from time to time in writing. If, after closing, Buyer receives any payment relating to assets of the Debtor which are not a part of the Purchased Assets, Buyer shall promptly deliver same to the party entitled to such payment(s) pursuant to Section 7 hereof.
