Common use of Seller's Right to Elect to Receive Less than Entire Profits Interest Clause in Contracts

Seller's Right to Elect to Receive Less than Entire Profits Interest. Seller shall have the right, at Seller's sole discretion, at any time to elect to receive less than the full amount of Profits Interest which would be payable by Purchaser to Seller in accordance with the foregoing provisions. Seller may exercise such election by delivering to Purchaser a written notice so stating, which notice may state that Seller elects to receive any fraction of the Profits Interest that would otherwise be payable (as specified in such notice). Any such election by Seller shall not impair Seller's right subsequently to receive any Profits Interest that otherwise would be or have been payable, nor impair or affect any right, power or remedy which Seller otherwise may have, nor shall any such election be construed as a waiver of any such rights, powers or remedies.