Common use of Allocation of Receivables Clause in Contracts

Allocation of Receivables. Subsequent to Closing the Sellers on the one hand and the Purchaser on the other hand shall, subject to any contrary express provision of this Agreement: (i) account to each other, as soon as is reasonably practicable, for any monies, assets or services received by or on behalf of it on or after Closing which relate to the relevant business of the other Party (the EL Business being the Purchaser’s business after Closing). Without limiting the generality of the foregoing, the Sellers shall pay to the Purchaser any amounts that the Sellers receive under the Commercial Contracts or otherwise relating to the EL Business or the Transfer Assets after the Transfer Date; and (ii) upon it receiving any notices, correspondence, information or enquiries in relation to any such business of the other Party, pass the same, as soon as is reasonably practicable, to the other Party.