PRORATION OF CASH ON HAND. The parties shall prorate, as of the close of business on the date of Closing, all cash on hand or on deposit with Seller consisting of sums paid to Seller pursuant to the advance billing practice of Seller or otherwise representing a prepayment to Seller of services to be rendered after the Closing. Seller shall be entitled to all such sums allocable to services performed on or before the close of business on the date of Closing and Buyer shall be entitled to all such sums allocable to services to be performed thereafter. Buyer and Seller agree that the amount of such prepaid services to be credited to Buyer is $0.00.
Appears in 2 contracts
Samples: Purchase and Sale of Assets Agreement (U S Liquids Inc), Purchase and Sale of Assets Agreement (U S Liquids Inc)
PRORATION OF CASH ON HAND. The parties shall prorate, as of the close of business on the date of Closing, all cash on hand or on deposit with Seller consisting of sums paid to Seller pursuant to the advance billing practice of Seller or otherwise representing a prepayment to Seller of services to be rendered after the Closing. Seller shall be entitled to all such sums allocable to services performed on or before the close of business on the date of Closing and Buyer shall be entitled to all such sums allocable to services to be performed thereafter. Buyer and Seller agree that the amount of such prepaid services to be credited to Buyer is $0.00-0-.
Appears in 1 contract
Samples: Purchase and Sale of Assets Agreement (U S Liquids Inc)
PRORATION OF CASH ON HAND. The parties shall prorate, as of the close of business on the date of ClosingDecember 31, 1997, all cash on hand or on deposit with Seller consisting of sums paid to Seller pursuant to the any advance billing practice of Seller or otherwise representing a prepayment to Seller of services to be rendered after the Closing. Seller shall be entitled to all such sums allocable to services performed on or before the close of business on the date of Closing December 31, 1997, and Buyer shall be entitled to all such sums allocable to services to be performed thereafter. Buyer and Seller agree that the amount of such prepaid services to be credited to Buyer is $0.000.
Appears in 1 contract
Samples: Purchase and Sale of Assets Agreement (U S Liquids Inc)
