Seller’s Accounts Receivable. For a period of 6 months after Closing, Buyer shall, on Seller's behalf, and at no charge to Seller, accept any payment with respect to Seller's customer receivables and other receivables arising out of the operation of Seller's Business prior to Closing. All collected receivables from vehicle sales shall be delivered to Seller within ten (10) days after collection, and all other collected receivables shall be delivered to Seller on a monthly basis. Buyer shall have no obligation to undertake collection efforts with respect to Seller's receivables, and Buyer's only obligation shall be to account for and pay over Seller's receivables, which are actually received by Buyer.
Seller’s Accounts Receivable. Except as otherwise provided herein, it is expressly agreed by and between Purchaser and Seller that Seller is not selling to Purchaser, and Purchaser is not purchasing from Seller, any of Seller’s Accounts Receivable. All of Seller’s Accounts Receivable shall be and remain the property of Seller, subsequent to the Closing of the transaction contemplated hereby. At the Closing, Seller shall prepare a list of its outstanding Accounts Receivable as of midnight on the date prior to the Closing, specifying the name of each account and the amount due to Seller. Purchaser shall hold any amounts received by Purchaser as payment of such accounts receivable, in trust, if Purchaser actually collects any such amounts, and shall pay the monies collected in respect thereof (less credit card fees) to Seller at the end of the week, accompanied by a statement showing the amount collected on each such account. Other than the foregoing, Purchaser shall have no obligation with respect to any such account, and Purchaser shall not be required to take any legal proceeding or action to effect collection on behalf of Seller. It is generally the intention of Purchaser and Seller that although all of Seller’s Accounts Receivable shall be and remain the property of the Seller, still, if any such accounts are paid to Purchaser, then Purchaser shall collect same and remit to Seller in the manner above provided, but Purchaser shall have no obligation to pursue and Seller reserves the right to collect its Accounts Receivables by all means it deems appropriate, at no cost to Purchaser.
Seller’s Accounts Receivable. On the Closing Date, each Seller shall deliver to Purchaser an update of Seller’s Accounts Receivable list. Thereafter, Purchaser, upon receipt, shall promptly remit to such Seller all sums received by Purchaser in payment of any of Seller’s Accounts Receivables. All sums received by Purchaser from a customer, guest or patron following Closing shall be credited, unless otherwise designated by the payor, first, to the sums owing to Purchaser, and then, to the extent any sums remain, to Seller for any Seller’s outstanding Accounts Receivable . For a period of one (1) year after the Close of Escrow, Sellers shall have the right, from time to time, to inspect and audit the books and records of the Hotels that pertain to income and collections, at Sellers’ sole cost (unless it is determined from such audit or inspection that Purchaser has withheld any Seller’s Accounts Receivable, then Purchaser shall pay the costs of such audit and inspection), and Purchaser shall provide full and complete access thereto to Sellers upon not less than three (3) business days prior Notice, to verify receipt and payment of Sellers’ Accounts Receivable. All information so obtained by Sellers or their agents shall be confidential information which shall be disclosed solely on a need-to-know basis. Nothing in the foregoing shall obligate Purchaser to pursue the collection of any outstanding Seller Account Receivables and Purchaser shall have no obligation to Seller to do so.
Seller’s Accounts Receivable. The parties agree that Seller shall sell and transfer to Buyer at Closing and Buyer shall purchase from Seller all of Seller's Accounts Receivable relating to the Performing WRMR Contracts being sold and transferred herein. The consideration to be paid by Buyer for these Accounts Receivable shall be 100% of the amounts owed under such Accounts Receivable transferred herein. That amount shall be paid by Buyer to Seller in three equal consecutive monthly installments due and payable beginning on the first monthly anniversary of the Closing herein. Seller shall provide such documentation at Closing and thereafter upon request and shall assist Buyer as may be reasonably necessary to collect the Accounts Receivable. Buyer shall have the sole and exclusive right to contact all customers of the WRMR Contracts and the sole and exclusive right to collect on any and all of the Accounts Receivable on and after the Closing Date. Seller shall take no actions to contact or collect on any Contracts or Accounts Receivable after Closing. Seller shall provide Buyer with written authorization for Buyer to deposit any payments received by Buyer on the Accounts Receivable which are made payable to Seller. Seller shall not deposit but shall promptly deliver to Buyer any and all payments received by Seller on the Accounts Receivable. Buyer agrees that after the Closing Date it will use efforts to collect the Accounts Receivable comparable to those efforts Buyer uses to collect trade accounts receivable arising out of its security monitoring business which are similar in amounts and ages; provided that Buyer will not be required to retain or use legal counsel or any collection service, or to institute legal proceedings, as a part of its collection efforts. Seller guarantees the collection of the Accounts Receivable by Buyer, but Seller's liability for collection of the Accounts Receivable under this guaranty shall in no events exceed the sum of Ten Thousand ($10,000.00) dollars. As of the end of the third monthly anniversary from the Closing herein, Buyer shall notify Seller as to the status of Buyer's collections of the Accounts Receivable and, if the collections thereof shall be less than 100% at that time Buyer shall deduct that shortfall from the third monthly payment due Seller for the purchase of the Accounts Receivable, but in no event shall Buyer deduct greater than $10,000.00 as set forth herein.
Seller’s Accounts Receivable. Purchaser, upon receipt, shall promptly remit to Seller all sums received by Purchaser in payment of any of Seller’s Accounts Receivables. All sums received by Purchaser from a customer, guest or patron owing Seller under a Seller’s Account Receivable shall be credited, first, to the sums owing Seller, and then, to the extent any sums remain, to Purchaser. For a period of one (1) year after the Close of Escrow, Seller shall have the right, from time to time, to inspect and audit the books and records of the Hotel that pertain to income and collections, at Seller’s sole cost (unless it is determined from such audit or inspection that Purchaser has withheld Seller’s Accounts Receivable, then Purchaser shall pay the costs of such audit and inspection), and Purchaser shall provide full and complete access thereto to Seller during normal business hours upon not less than three (3) business days prior Notice, to verify receipt and payment of Seller’s Accounts Receivable.
Seller’s Accounts Receivable. Seller's goodwill;
Seller’s Accounts Receivable. For a period of six (6) months after Closing, Buyer shall, on Seller's behalf, and at no charge to Seller, accept any payment with respect to Seller's customer receivables and other receivables arising out of the operation of Seller's Business prior to Closing. All collected receivables from vehicle sales shall be delivered to Seller within ten (10) days after collection, and all other collected receivables shall be delivered to Seller on a monthly basis. Buyer shall have no obligation to undertake collection efforts with respect to Seller's receivables, and Buyer's only obligation shall be to account for and pay over Seller's receivables which are actually received by Buyer. Seller shall be provided with reasonable access to Buyer's Ford and Mazda communication equipment for the above time period, at no cost to Seller, for purposes of processing claims with the Franchisors.
Seller’s Accounts Receivable. Notwithstanding any other provision of this Agreement, Buyer agrees that following Closing, Buyer shall reasonably cooperate with Seller in the collection of outstanding accounts receivable owed to Seller provided Buyer shall not be obligated to take any type of collection action with respect to such accounts receivable. In the event any of Seller’s accounts receivable are paid to Buyer, Buyer shall immediately remit the proceeds of same to Seller.
Seller’s Accounts Receivable. All accounts receivable of RxPA, including third-party receivables, which accrue prior to the Closing Date shall remain the property of Seller. For a period of ninety (90) days from and after the Closing Date, Buyer agrees to accept payment of accounts receivable for and on behalf of Seller, and shall make an accounting of and transmit such collected receivables to the Company on Friday of each week, whether received during such 90-day period or thereafter (“A/R Payments”). On the 91st day after the Closing Date, Buyer shall return all records of A/R Payments to the Company. A/R Payments received, unless otherwise specified by any payer, shall be allocated on a first in first out basis. Notwithstanding any of the above, Buyer shall have no duty actively to attempt to collect such receivables, but will cooperate with Seller in such collection.
Seller’s Accounts Receivable. Buyer is purchasing all of Seller's accounts receivable, including patient accounts receivable, long-term patient accounts receivable, income guarantee advances, amounts receivable from third party payor programs (governmental or commercial), notes, other receivables, whether or not written off. After the Closing, Seller shall remit to Buyer any payments received by Seller with respect to the accounts receivable sold to Buyer. Any funds so collected will be remitted to Buyer within fifteen (15) days following receipt of such payments.