Forwarding of Payments. Buyer shall use commercially reasonable efforts to recover (i) the Landlord Deposits and (ii) the FCM Commission Receivables and shall promptly remit to the Sellers’ Representative (on behalf of Sellers and for distribution to Sellers by the Sellers’ Representative in accordance with each Seller’s Ownership Percentage) any amounts recovered in respect of the Landlord Deposits or the FCM Commission Receivables (net of any commission or other amounts payable to brokers or introducing brokers with respect to such FCM Commission Receivables) following receipt thereof; provided, however, that Buyer’s efforts shall not require Buyer or its Affiliates to institute any claim or incur any out of pocket costs or expenses in connection with the recovery of the Landlord Deposits or the FCM Commission Receivables. Buyer shall not (and shall cause the Company not to) take any action or omit to take any action if Buyer or the Company has a conscious awareness that such act or omission will prevent the Company from recovering the Landlord Deposits or the FCM Commission Receivables.
Appears in 2 contracts
Sources: Membership Interest Purchase Agreement, Membership Interest Purchase Agreement (GAIN Capital Holdings, Inc.)