Common use of Payments of Accounts Receivable Clause in Contracts

Payments of Accounts Receivable. In the event Sellers shall receive any instrument of payment of any of the Accounts Receivable, Sellers shall forthwith deliver it to Purchaser, endorsed where necessary, without recourse, in favor of Purchaser.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Total Control Products Inc), Asset Purchase Agreement (Computer Dynamics Inc)