Collection of Amounts Owed to a Party Clause Samples

The 'Collection of Amounts Owed to a Party' clause establishes the right and process for a party to recover payments or debts that are due to them under the agreement. Typically, this clause outlines the methods by which the owed party can demand payment, such as issuing invoices, setting deadlines for payment, and specifying any interest or penalties for late payments. Its core practical function is to ensure that parties have a clear and enforceable mechanism for collecting money they are entitled to, thereby reducing disputes and promoting timely fulfillment of financial obligations.
Collection of Amounts Owed to a Party. In the event any Party receives any funds or other property that belongs to another Party pursuant to the terms of this Agreement, the receiving Party shall receive and hold such funds and/or property in trust for the benefit of the rightful Party and shall promptly forward such funds and/or property to the rightful Party. It is the intention of the Parties that, as between the Parties, Seller shall be entitled to all income attributable to the Operations conducted prior to the Effective Time and Buyer shall be entitled to all income attributable to the Operations conducted after the Effective Time. Each Party shall pay to the other Party, promptly after receipt thereof, any amount received by said Party from any Third Party with respect to rentals, fees or other revenues relating to the Operations and attributable to the ownership period of the other Party; and products delivered, services performed or other obligations performed by the other Party and attributable to the ownership period of such other Party.
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Collection of Amounts Owed to a Party. It is the intention of the Parties that, as between the Parties, Seller shall be entitled to all income attributable to the E-Gas Technology prior to and including the Effective Time and Buyer shall be entitled to all income attributable to the operations conducted after the Effective Time. Each Party shall pay to the other Party, promptly after receipt thereof, any amount received by said Party from any third party with respect to (i) rentals, fees or other revenues relating to the operation of the Assets and attributable to the ownership period of the other Party; and (ii) products delivered, services performed or other obligations performed by the other Party and attributable to the ownership period of such other Party.
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Collection of Amounts Owed to a Party. Except as otherwise provided in Article II, it is the intention of the parties that, as between the parties, Seller shall be entitled to all income attributable to the Business conducted prior to the Effective Time and Buyer shall be entitled to all income attributable to the Business conducted on and after the Effective Time. Except as otherwise provided in Article II, each party shall pay to the other party, promptly after receipt thereof, any amount received by said party from any third party with respect to (i) rentals, fees or other revenues relating to the Business and attributable to the ownership period of the other party; and (ii) products delivered, services performed or other obligations performed by the other party and attributable to the ownership period of such other party.
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Collection of Amounts Owed to a Party. Except as otherwise provided in the Related Agreements it is the intention of the Parties that, as between the Parties, Sunoco shall be ** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. entitled to all income attributable to the Refinery Business conducted prior to the Closing and NewCo shall be entitled to all income attributable to the Refinery Business conducted from and after the Closing. TCG and NewCo shall, and shall cause their Subsidiaries to, pay to Sunoco, promptly after receipt thereof by any such Person, any amount received by such Party or the Contributing Subsidiaries from any Third Person with respect to the Refinery Business to the extent attributable to the ownership or operation of the Refinery Business on or prior to the Closing Date, net of any out-of-pocket expenses incurred in collecting such amounts. Sunoco shall, and shall cause the Contributing Subsidiaries to, pay to NewCo, promptly after receipt thereof by any such Person, any amount received by such Party or the Contributing Subsidiaries from any Third Person with respect to the Refinery Business to the extent attributable to the ownership or operation of the Refinery Business from and after the Closing Date, net of any out-of-pocket expenses incurred in collecting such amounts. Upon the request of Sunoco, NewCo shall cooperate with Sunoco and any of the Contributing Subsidiaries and provide reasonable assistance in the collection of accounts receivable to the extent attributable to the ownership or operation of the Refinery Business on or prior to the Closing Date.
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Collection of Amounts Owed to a Party. (a) Except as otherwise provided in the Related Agreements, it is the intention of the Parties that, as between the Parties, MPC and SSA shall be entitled to all income attributable to the Businesses conducted prior to the Effective Time and NT Holdco and its Affiliates shall be entitled to all income attributable to the Businesses conducted from and after the Effective Time. Except as otherwise provided in the Related Agreements, each Party shall pay to the appropriate Party, promptly after receipt thereof, any amount received by such Party from any Third Person with respect to (i) rentals, fees or other revenues relating to the Refinery Business or the Marketing Business and attributable to the ownership period of another Party; and (ii) products delivered, services performed or other Obligations performed by another Party and attributable to the ownership period of such other Party, net of any out-of-pocket expenses incurred in collecting such amounts or as expressly agreed to in writing by NTI. (b) From and after the Effective Time, NTI shall use Commercially Reasonable Efforts to collect and account for the Third-Person Receivables on behalf of MPC or SSA, as applicable, and upon receipt of any such payments, NTI shall promptly turn such amounts over to MPC or SSA, as applicable, net of any out-of-pocket expenses incurred in such collection efforts or as expressly agreed to in writing by MPC or SSA, as appropriate.
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Collection of Amounts Owed to a Party. Except as otherwise provided in the Related Agreements it is the intention of the Parties that, as between the Parties, Sunoco shall be entitled to all income attributable to the Refinery Business conducted prior to the Closing and NewCo shall be entitled to all income attributable to the Refinery Business conducted from and after the Closing. TCG and NewCo shall, and shall cause their Subsidiaries to, pay to Sunoco, promptly after receipt thereof by any such Person, any amount received by such Party or the Contributing Subsidiaries from any Third Person with respect to the Refinery Business to the extent attributable to the ownership or operation of the Refinery Business on or prior to the Closing Date, net of any out-of-pocket expenses incurred in collecting such amounts. Sunoco shall, and shall cause the Contributing Subsidiaries to, pay to NewCo, promptly after receipt thereof by any such Person, any amount received by such Party or the Contributing Subsidiaries from any Third Person with respect to the Refinery Business to the extent attributable to the ownership or operation of the Refinery Business from and after the Closing Date, net of any out-of-pocket expenses incurred in collecting such amounts. Upon the request of Sunoco, NewCo shall cooperate with Sunoco and any of the Contributing Subsidiaries and provide reasonable assistance in the collection of accounts receivable to the extent attributable to the ownership or operation of the Refinery Business on or prior to the Closing Date.
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Related to Collection of Amounts Owed to a Party

  • Calculation of Amounts Binding Effect of Interpretations and Actions of Master Servicer...............................

  • Determination of Amount In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into Units ("Conversion Right") as follows: upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock and Warrants comprising that number of Units equal to the quotient obtained by dividing (x) the "Value" (as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The "Value" of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein, the term "Current Market Value" per Unit at any date means the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the Current Market Price of the Common Stock multiplied by the number of shares of Common Stock underlying the Warrants and the Common Stock issuable upon exercise of one Unit. The "Current Market Price" of a share of Common Stock shall mean (i) if the Common Stock is listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), the last sale price of the Common Stock in the principal trading market for the Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Common Stock is not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but is traded in the residual over-the-counter market, the closing bid price for the Common Stock on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith.

  • Computation of Amounts For purposes of computing the amount of any item of income, gain, loss, deduction or expense to be reflected in Capital Accounts, the determination, recognition and classification of each such item shall be the same as its determination, recognition and classification for federal income tax purposes; provided that: (i) any income that is exempt from Federal income tax shall be added to such taxable income or losses; (ii) any expenditures of the Company described in Section 705(a)(2)(B) of the Code or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(i), shall be subtracted from such taxable income or losses; (iii) if the Book Value of any Company property is adjusted pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(e) (in connection with a distribution of such property) or (f) (in connection with a revaluation of Capital Accounts), the amount of such adjustment shall be taken into account as gain or loss from the disposition of such property; (iv) if property that is reflected on the books of the Company has a Book Value that differs from the adjusted tax basis of such property, depreciation, amortization and gain or loss with respect to such property shall be determined by reference to such Book Value; and (v) the computation of all items of income, gain, loss, deduction and expense shall be made without regard to any election pursuant to Section 754 of the Code that may be made by the Company, unless the adjustment to basis of Company property pursuant to such election is reflected in Capital Accounts pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m).

  • Certification of amounts A notice which is signed by 2 officers of a Creditor Party, which states that a specified amount, or aggregate amount, is due to that Creditor Party under this Clause 21 and which indicates (without necessarily specifying a detailed breakdown) the matters in respect of which the amount, or aggregate amount, is due shall be prima facie evidence that the amount, or aggregate amount, is due.

  • Payment of Amounts The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues the Contract, will be distributed to the designated Beneficiary(s) as follows: