Monies Collected. To the extent any payments of trade accounts receivable, credit card receipts or other monies that are for the account of Sellers are received by any Purchaser, such Purchaser shall, within three (3) Business Days of receipt thereof, advance to Sellers the amount of any such payments together with any documentation received by such Purchaser in connection therewith. To the extent any payments of trade accounts receivable, credit card receipts, or other monies that are for the account of Purchasers are received by a Seller, such Seller shall, within three (3) Business Days of receipt thereof, advance to Purchasers the amount of any such payments together with any documentation received by such Seller in connection therewith.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Hercules Offshore, Inc.), Asset Purchase Agreement (Seahawk Drilling, Inc.)
Monies Collected. To the extent any payments of trade accounts receivable, credit card receipts or other monies that are for the account of Sellers Seller are received by any Purchaser, such Purchaser shall, within three (3) Business Days of receipt thereof, advance to Sellers Seller the amount of any such payments together with any documentation received by such Purchaser in connection therewith. To the extent any payments of trade accounts receivable, credit card receipts, or other monies that are for the account of Purchasers Purchaser are received by a Seller, such Seller shall, within three (3) Business Days of receipt thereof, advance to Purchasers Purchaser the amount of any such payments together with any documentation received by such Seller in connection therewith.
Appears in 1 contract
Sources: Asset Purchase Agreement (Scio Diamond Technology Corp)