Deposits and Prepayments. Such adjustment shall be equal to the amount of excess, and shall be paid to either Seller, in cash, if the excess increases the Initial Purchase Price or Buyer, in cash, if the excess decreases the Initial Purchase Price, as applicable as part of the Initial Purchase Price within ninety (90) days following the Closing Date (the "PURCHASE PRICE ADJUSTMENT"). Buyer shall return, assign, transfer, convey and deliver to Seller and any all such Accounts Receivable which have not been collected in full by Buyer as of the day that is ninety (90) days following the Closing Date, and Buyer shall relinquish all of its rights with respect to such Accounts Receivable, provided that if such Account Receivable was included in the Closing Date Statement (defined below) then such Account Receivable was not included in the True-Up Statement. Seller shall have the sole right to any amounts collected by Seller with respect to such Accounts Receivable returned to Seller by Buyer.
Appears in 1 contract
Sources: Asset Purchase Agreement (GlobalOptions Group, Inc.)
Deposits and Prepayments. Such adjustment shall be equal to the amount of excess, and shall be paid to either Seller, in cash, if the excess increases the Initial Purchase Price or Buyer, in cash, if the excess decreases the Initial Purchase Price, as applicable as part of the Initial Purchase Price within ninety (90) days following the Closing Date (the "PURCHASE PRICE ADJUSTMENT"“Purchase Price Adjustment”). Buyer shall return, assign, transfer, convey and deliver to Seller and any all such Accounts Receivable which have not been collected in full by Buyer as of the day that is ninety (90) days following the Closing Date, and Buyer shall relinquish all of its rights with respect to such Accounts Receivable, provided that if such Account Receivable was included in the Closing Date Statement (defined below) then such Account Receivable was not included in the True-Up Statement. Seller shall have the sole right to any amounts collected by Seller with respect to such Accounts Receivable returned to Seller by Buyer.
Appears in 1 contract
Sources: Asset Purchase Agreement (GlobalOptions Group, Inc.)