Common use of Payment Received Clause in Contracts

Payment Received. In the event that the Seller receives any payment on any of the Acquired Assets or other amounts owing to the Seller but allocated to the Buyer pursuant to this Agreement, the Seller agrees to forward such payments in good faith as promptly as practicable to the Buyer.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Katy Industries Inc), Asset Purchase Agreement (Digital Generation Systems Inc)