Installment Assets Adjustment Clause Samples

Installment Assets Adjustment. Until the third anniversary of the Closing Date, whenever the Buyer, any of the Acquired Companies or any of their successors or assigns sells, disposes of or otherwise receives any payment or other consideration in respect of any of the Installment Assets, then the Buyer, the Acquired Companies or their successors or assigns, as the case may be, shall promptly, and in any event within three (3) Business Days, turn over and pay to the holders of the Phantom Units and to the Sellers, in accordance with their respective Percentages, of the Net Proceeds from such sale, disposition or payment.”