Seller Amounts definition
Examples of Seller Amounts in a sentence
In such event, any such Escrow Amounts or Separate Seller Amounts so released shall (if released prior to the date otherwise payable as Total Deferred Proceeds) be treated as an advanced payment of the Total Deferred Proceeds owed by Buyer hereunder and Buyer’s obligation to make future payments shall be correspondingly reduced by such released amounts.
The Closing Amount and the Post-Closing Payment shall each be increased or decreased as the case may be (without duplication) by the applicable Buyer Amounts and Seller Amounts set forth on Schedule 7.02(a) or the Post-Closing Settlement Statement.
With respect to Seller Amounts owed by tenants who are no longer tenants of the Real Property as of the Closing Date, Seller shall retain all rights relating thereto.
To secure the Company’s liability to pay the Parking Amounts in the event whereby the Company was not paid any or some of the Seller Amounts in the amounts that will be sufficient to cover the Parking Amounts or any part thereof (“Parking Amount Shortage”), on Closing, Seller is providing Purchaser with a Guaranty in the amount of up to $175,000 (“Seller Guaranty”), a copy of which is attached as Exhibit D.
From time to time after the Recalculation Date, promptly following receipt by Purchaser of any Seller Amounts, Purchaser shall promptly remit such amounts to Seller as herein provided.
The amounts listed on Schedule K will be deducted from the Seller Amounts (as defined in Section 3.9) due from the Purchaser at the Closing.
For the avoidance of any doubt, following the Closing, except for the Seller Amounts, Purchaser or the Company will be entitled to all other payments, receipts and cash flow derived from the Company’s carsharing activities (membership fees and ride fees) for all periods following the Closing Date.
On the Recalculation Date, Seller and Purchaser shall determine the total amount of all Seller Amounts collected by Purchaser after the Closing Date and prior to the Recalculation Date which are to be applied to Seller as herein provided and the total amount of all Closing Month Amounts collected by Seller after the Closing and prior to the Recalculation Date.
Purchaser may, by written notice to Seller within ten (10) days of receipt of Seller's notice, restrict Seller from collecting such Seller Amounts, but only if Purchaser first pays Seller any such Seller Amounts in exchange for Seller's assignment to Purchaser of all of Seller's rights and causes of action with respect thereto.
If the total of all Seller Amounts so collected by Purchaser is less than the credit for unpaid rents and other charges given to Seller at Closing, Seller shall promptly remit such shortfall to Purchaser.