Common use of Payments Received Clause in Contracts

Payments Received. The Sellers and Purchaser after the Closing shall 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 which properly belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and Purchaser each agree that after the Closing shall 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 which properly belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers After the Closing, Seller and Purchaser after the Closing shall 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 which properly belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Purchased Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and Purchaser each agree that after the ----------------- Closing shall 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 which properly belongs to the other party, including without limitation limitation, any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Acquired Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers and Purchaser each agree that after the Closing shall 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 which properly belongs to the other partyParty, including without limitation limitation, any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers either Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Furniture Business and the Acquired Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and Purchaser each agree that after the Closing shall 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 which properly belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse endorse, without recourse recourse, the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Parent, Seller and Purchaser each agree that after the Closing shall 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 which properly belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and Purchaser each agree that ------------------ after the Closing shall 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 which properly belongs to the other party, including without limitation limitation, any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Acquired Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and Purchaser each agree that after the ----------------- Closing shall 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 which properly property belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse endorse, without recourse recourse, the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and Purchaser each agree that after the Closing shall 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 which properly belongs to the other party, including without limitation limitation, any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Purchased Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and Purchaser each agree that after the Closing shall 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 which properly belongs to the other party, including without limitation limitation, any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Acquired Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers and Purchaser each agree that after the Closing shall 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 which properly belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers on any check or any other evidences of indebtedness received by Purchaser on account of the Business and the Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and the Purchaser each agree that after the Closing shall 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 which properly belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, the Purchaser shall have the right and authority to endorse endorse, without recourse recourse, the name of the Sellers Seller on any check or any other evidences of indebtedness received by the Purchaser on account of the Business and the Assets transferred to the Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Parent, Seller and Purchaser each agree that after the Closing shall 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 reasonable efforts not to convert such checks into cash), or other property that they may receive on or after the Closing which properly belongs to the other party, including without limitation any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any each check or any other evidences of indebtedness received by Purchaser on account of the Business and the Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.

Payments Received. The Sellers Seller and Purchaser each agree that after the Closing shall 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 which properly belongs to the other partyParty, including without limitation limitation, any insurance proceeds, and will account to the other for all such receipts. Following From and after the Closing, Purchaser shall have the right and authority to endorse without recourse the name of the Sellers Seller on any check or any other evidences of indebtedness received by Purchaser on account of the Automotive Business and the Acquired Assets transferred to Purchaser hereunder, for the sole purpose of depositing such items into accounts over which the Sellers have signatory authority.