Common use of Final Adjustment Clause in Contracts

Final Adjustment. Within six (6) months following the respective Effective Date a further accounting shall be prepared by Vendor in regard to all charges and credits to be adjusted between Vendor and Purchaser on a item by item basis after the respective Closing Date as soon as reasonably practicable. All revenues which are received or receivable by Vendor from the Assets and which are due to Purchaser shall, after deducting the obligations and costs for which Purchaser is responsible, be paid to Purchaser either on the Closing if they have been received on or before the respective Closing Date or within (30) days of receipt thereof, if they are received after such Closing Date. Any monies received by Vendor shall be received as agent for and on behalf of Purchaser. The Vendor shall not be obligated to make any further adjustments after the six (6) months unless a specified request in writing is received within six (6) months following the respective Closing Date identifying in reasonable detail an adjustment required by this Agreement. The aforesaid six (6) month time frame does not apply to sub-clauses (c) and (d) hereof.

Final Adjustment. Within six (6) months following the respective Effective Date a further accounting shall be prepared by Vendor in regard to all charges and credits to be adjusted between Vendor and Purchaser on a item by item basis after the respective Closing Date as soon as reasonably practicable. All revenues which are received or receivable by Vendor from the Assets and which are due to Purchaser shall, after deducting the obligations and costs for which Purchaser is responsible, be paid to Purchaser either on the Closing if they have been received on or before the respective such Closing Date or within (30) days of receipt thereof, if they are received after such Closing Date. Any monies received by Vendor shall be received as agent for and on behalf of Purchaser. The Vendor shall not be obligated to make any further adjustments after the six (6) months unless a specified request in writing is received within six (6) months following the respective Closing Date identifying in reasonable detail an adjustment required by this Agreement. The aforesaid six (6) month time frame does not apply to sub-clauses (c) and (d) hereof.