Common use of Payments Received Clause in Contracts

Payments Received. Seller and Purchaser each agree that after the Closing Date they will hold and will promptly transfer and deliver to the other, from time to time as and when received by them, any cash, checks with appropriate endorsements (using their best efforts not to convert such checks into cash), or other property that they may receive on or after the Closing Date which properly belongs to the other Party and will account to the other for all such receipts.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Chart House Enterprises Inc), Asset Purchase Agreement (Landrys Restaurants Inc)

Payments Received. Seller Sellers and Purchaser each agree that that, after the Closing Date Date, they will shall hold and will shall promptly transfer and deliver to the otherother party, from time to time as and when received by themit and in the currency received, any cash, checks with appropriate endorsements (using their best commercially reasonable efforts not to convert such checks into cash), or other property that they may receive on or after the Closing Date date hereof which properly property belongs to the other Party party, including any payments of accounts receivable and will insurance proceeds, and shall account to the other party for all such receipts.

Appears in 2 contracts

Sources: Stock and Asset Purchase Agreement (Honeywell International Inc), Stock and Asset Purchase Agreement (Be Aerospace Inc)

Payments Received. Seller After the Closing, the Selling Parties and the Purchaser each agree that after the Closing Date they will shall hold and will promptly transfer and deliver to the other, from time to time as and when received by either of them, any cash, checks with appropriate endorsements (using their best commercially reasonable efforts not to convert such checks into cash), or other property that they either of them may receive on or after the Closing Date which properly belongs to the other Party Party, including any insurance proceeds, and will shall account to the other Party for all such receipts.

Appears in 1 contract

Sources: Asset Purchase Agreement (Maxco Inc)

Payments Received. Seller and Purchaser each agree that after the ----------------- Closing Date they will hold and will promptly transfer and deliver to the other, from time to time as and when received by them, any cash, checks with appropriate endorsements (using their best efforts not to convert such checks into cash), or other property that they may receive on or after the Closing Date which properly belongs to the other Party party including, without limitation any insurance proceeds, and will account to the other for all such receipts.

Appears in 1 contract

Sources: Asset Purchase Agreement (Chart House Enterprises Inc)

Payments Received. Seller Sellers and Purchaser each agree that after the Closing Date they will hold and will promptly transfer and deliver to the other, from time to time as and when received by them, any cash, checks with appropriate endorsements (using their best efforts not to convert such checks into cash), or other property that they may receive on or after the Closing Date which properly belongs to the other Party party and will account to the other for all such receipts.

Appears in 1 contract

Sources: Asset Purchase Agreement (Angelo & Maxies Inc)

Payments Received. Seller Sellers and Purchaser each agree that after the Closing Date they will hold and will promptly transfer and deliver to the otherapplicable party, from time to time as and when received by them, any cash, checks with appropriate endorsements (using their best efforts not to convert such checks into cash), ) or other property that they or their Affiliate may receive on or after the Closing Date which properly belongs to the applicable other Party party, including, without limitation, any insurance proceeds and payments on account of accounts receivable, and will account to the other for all such receipts.

Appears in 1 contract

Sources: Asset Purchase Agreement (Gibraltar Industries, Inc.)

Payments Received. Seller ▇▇▇▇▇▇’▇, Sellers and Purchaser each agree that after the Closing Date they will hold and will promptly transfer and deliver to the other, from time to time as and when received by them, any cash, checks with appropriate endorsements (using their best efforts not to convert such checks into cash), or other property that they may receive on or after the Closing Date which properly belongs to the other Party and will account to the other for all such receipts.

Appears in 1 contract

Sources: Stock Purchase Agreement (Landrys Restaurants Inc)