Common use of Payment Received Clause in Contracts

Payment Received. Should the Seller receive payments or other types of performance for receivables and other claims subsequent to Closing, that according to the provisions of this Agreement should be transferred to the Purchaser, or receive payments in connection with any of the Purchased Assets or the Assumed Contracts, they are required to transfer same to the Purchaser immediately and vice versa. The Seller shall forward to the Purchaser all quotations, orders, enquiries and other correspondence relating to any of the Purchased Assets or an Assumed Contracts that they receive subsequent to the Closing Date.

Appears in 2 contracts

Sources: Asset Purchase Agreement, Asset Purchase Agreement (Mercer International Inc.)