USE OF PURCHASE PRICE. Seller hereby acknowledges and understands that: (i) Purchaser’s ability to collect the Purchased Amount (or any portion thereof) shall be contingent upon Seller’s continued operation of its business and successful generation of the Future Receipts until the Purchased Amount is delivered to Purchaser in full; and (ii) in the event of decreased efficiency or total failure of Seller’s business, Purchaser’s receipt of the full or any portion of the Purchased Amount may be delayed indefinitely. Based upon the forgoing, Sxxxxx agrees to use the Purchase Price exclusively for the benefit and advancement of Seller’s business operations and for no other purpose.
Appears in 3 contracts
Samples: Future Receivables Sale and Purchase Agreement (First Person Ltd.), Future Receivables Sale and Purchase Agreement (First Person Ltd.), Merchant Cash Advance Agreement (American Rebel Holdings Inc)
USE OF PURCHASE PRICE. Seller hereby acknowledges and understands that: (i) Purchaser’s 's ability to collect the Purchased Amount (or any portion thereof) shall be contingent upon Seller’s 's continued operation of its business and successful generation of the Future Receipts until the Purchased Amount is delivered to Purchaser in full; and (ii) in the event of decreased efficiency or total failure of Seller’s 's business, Purchaser’s 's receipt of the full or any portion of the Purchased Amount may be delayed indefinitely. Based upon the forgoing, Sxxxxx Xxxxxx agrees to use the Purchase Price exclusively for the benefit and advancement of Seller’s 's business operations and for no other purpose.
Appears in 1 contract
Samples: Future Receivables Sale and Purchase Agreement (Zerify, Inc.)
USE OF PURCHASE PRICE. Seller hereby acknowledges and that it fully understands that: (i) PurchaserBuyer’s ability to collect the Purchased Amount (or any portion thereof) shall be is contingent upon Seller’s continued operation of its business and successful generation of the Future Receipts until the Purchased Amount is delivered to Purchaser Buyer in full; and (ii) that in the event of decreased efficiency or total failure of Seller’s business, PurchaserBuyer’s receipt of the full or any portion of the Purchased Amount may be delayed indefinitely. Based upon the forgoing, Sxxxxx agrees to use the Purchase Price exclusively for the benefit and advancement of Seller’s business operations and for no other purpose.
Appears in 1 contract
Samples: Future Receipts Sale and Purchase Agreement (First Person Ltd.)
USE OF PURCHASE PRICE. Seller hereby acknowledges and that it fully understands that: (i) Purchaser’s ability to collect receive the Purchased Sold Amount (or any portion thereof) shall be of Future Receipts is contingent upon Seller’s continued operation of its business and successful generation of the Future Receipts until the Purchased Sold Amount of Future Receipts is delivered to Purchaser in full; and (ii) that in the event of decreased efficiency or total failure of Seller’s business, business Purchaser’s receipt of the full or any portion of the Purchased Sold Amount of Future Receipts may be delayed indefinitely. Based upon the forgoing, Sxxxxx agrees to use the Purchase Price exclusively for the benefit and advancement of Seller’s business operations and for no other purpose.
Appears in 1 contract
Samples: Agreement for the Purchase and Sale of Future Receipts (Amphitrite Digital Inc)