Common use of Asset Returns Clause in Contracts

Asset Returns. In the event Buyer receives any assets of the Company that are not intended to be transferred pursuant to the terms of this Agreement, Buyer agrees to promptly return such assets to Seller at Seller's expense. In the event any payments are made to Buyer following the Closing with respect to Accounts Receivable that are not attributable to the Analytical Instruments Business or that relate to any Excluded Assets or Excluded Liabilities, Buyer agrees to forward such payments to Seller promptly. In the event any payments are made to Seller following the Closing with respect to Accounts Receivable that are attributable to the Analytical Instruments Business or that relate to any Assets or Assumed Liabilities, Seller agrees to forward such payments to Buyer promptly. In the event that, following the Closing, Seller or any of the Subsidiaries receives any assets that were intended to be, but were not, transferred pursuant to this Agreement at the Closing, Seller shall promptly notify Buyer to such effect and shall comply with its obligations in respect thereof contemplated by Section 1.5.

Appears in 3 contracts

Samples: Purchase Agreement (Eg&g Inc), Purchase Agreement (Eg&g Inc), Purchase Agreement (Pe Corp)

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Asset Returns. In the event Buyer receives any assets of the Company Compression Services Business that are not intended to be transferred pursuant to the terms of this Agreement, Buyer agrees to promptly return such assets to Seller at Seller's expense. In the event any payments are made to Buyer following the Closing with respect to Accounts Receivable accounts receivable that are not attributable to the Analytical Instruments Compression Services Business or that relate to any Excluded Assets or Excluded Liabilities, Buyer agrees to forward such payments to Seller promptly. In the event any payments are made to Seller following the Closing with respect to Accounts Receivable accounts receivable that are attributable to the Analytical Instruments Compression Services Business or that relate to any Assets or Assumed Liabilities, Seller agrees to forward such payments to Buyer promptly. In the event that, following the Closing, Seller or any of the Subsidiaries receives receive any assets that were intended to be, but were not, transferred pursuant to this Agreement at the Closing, Seller shall promptly notify Buyer to such effect and shall comply with its obligations in respect thereof contemplated by Section 1.51.12.

Appears in 1 contract

Samples: Purchase Agreement (Hanover Compressor Co /)

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