Closing Date Sales and Contributions Clause Samples
The "Closing Date Sales and Contributions" clause defines how sales and financial contributions are handled as of the closing date of a transaction. It typically specifies which party is entitled to sales revenue and responsible for contributions, such as taxes or fees, that accrue up to or after the closing date. For example, the seller may retain rights to sales made before closing, while the buyer assumes responsibility for those occurring after. This clause ensures a clear allocation of financial rights and obligations between the parties, preventing disputes over revenue and liabilities related to the timing of the transaction's completion.
Closing Date Sales and Contributions. Effective on the Closing Date, each Originator hereby sells to, and Mativ hereby contributes to the capital of, the Buyer, and the Buyer hereby purchases and accepts, such Originator’s entire right, title and interest in, to and under (i) each Receivable that existed and was owing to such Originator at the Cut-Off Date, (ii) each Receivable generated by such Originator from and including the Cut-Off Date, to and including the Closing Date, and (iii) all Related Rights with respect thereto.
Closing Date Sales and Contributions. Effective on the Closing Date (or, with respect to any additional Originator that becomes a party hereto after the Closing Date, effective on the date of the applicable Joinder Agreement), each Originator hereby sells to, and NPL hereby contributes to the capital of, the Buyer, and the Buyer hereby purchases and accepts, such Originator’s entire right, title and interest in, to and under (i) each Receivable that existed and was owing to such Originator at the Cut-Off Date, (ii) each Receivable generated by such Originator from and including the Cut-Off Date, to and including the Closing Date (or, with respect to any additional Originator that becomes a party hereto after the Closing Date, effective on the date of the applicable Joinder Agreement), and (iii) all Related Rights with respect thereto.
Closing Date Sales and Contributions. Effective on the Closing Date (or, with respect to any Originator that becomes a party hereto after the Closing Date, effective on the date of the applicable Joinder Agreement), each Originator hereby sells to, and Vestis Services hereby contributes certain Receivables to the capital of the Buyer, and sells the remainder of the Receivables to the Buyer, and the Buyer hereby purchases and accepts, as applicable, such Originator’s entire right, title and interest in, to and under (i) each Receivable that existed and was owing to such Originator at the Cut-Off Date, (ii) each Receivable generated by such Originator from and including the Cut-Off Date, to and including the Closing Date (or, with respect to any Originator that becomes a party hereto after the Closing Date, effective on the date of the applicable Joinder Agreement) and (iii) all Related Rights with respect thereto. 127299818\V-5
Closing Date Sales and Contributions. Effective on the Closing Date, Seller hereby sells to, and hereby contributes to the capital of, the Buyer, and the Buyer hereby purchases and accepts, Seller’s entire right, title and interest in, to and under (i) each Receivable that existed and was owing to Seller at the Cut-Off Date, (ii) each Receivable obtained by Seller from and including the Cut-Off Date, to and including the Closing Date, and (iii) all Related Rights with respect thereto.
Closing Date Sales and Contributions. Effective on the Closing Date, each Originator hereby sells to, and KHLP hereby contributes to the capital of, the Buyer, and the Buyer hereby purchases and accepts, such Originator’s entire right, title and interest in, to and under (i) each Receivable that existed and was owing to such Originator at the Cut-Off Date, (ii) each Receivable generated by such Originator from and including the Cut-Off Date, to and including the Closing Date, and (iii) all Related Rights with respect thereto.