Common use of Post-Closing Receipts Clause in Contracts

Post-Closing Receipts. In the event that either party after the Closing Date receives any funds properly belonging to the other party in accordance with the terms of this Agreement, the receiving party will promptly so advise such other party, will segregate and hold such funds in trust for the benefit of such other party and will promptly deliver such funds, together with any interest earned thereon, to an account or accounts designated in writing by such other party.

Appears in 9 contracts

Samples: Asset Purchase Agreement (Orchid Biosciences Inc), Stock Purchase Agreement (American National Financial Inc), Share Purchase and Sale Agreement (Be Aerospace Inc)

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Post-Closing Receipts. In the event that either party after the --------------------- Closing Date receives any funds properly belonging to the other party in accordance with the terms of this Agreement, the receiving party will promptly so advise such other party, will segregate and hold such funds in trust for the benefit of such other party and will promptly deliver such funds, together with any interest earned thereon, to an account or accounts designated in writing by such other party.

Appears in 1 contract

Samples: Stock Purchase Agreement (Ch2m Hill Companies LTD)

Post-Closing Receipts. In the event that either any party after the Closing Date date receives any funds properly belonging to the other party or parties in accordance with the terms of this Agreement, the receiving party will promptly so advise such other partyparty or parties, will segregate and hold such funds in trust for the benefit of such other party or parties and will promptly deliver such funds, together with any interest earned thereon, to an account or accounts designated in writing by such other partyparty or parties.

Appears in 1 contract

Samples: Asset Purchase Agreement (Trans Energy Inc)

Post-Closing Receipts. In the event that either any party after the Closing Date receives any funds properly belonging to the other another party in accordance with the terms of this Agreement, the receiving party will promptly so advise such other party, will segregate and hold such funds in trust for the benefit of such other party and will promptly deliver such funds, together with any interest earned thereon, funds to an account or accounts designated in writing by such other party.

Appears in 1 contract

Samples: Acquisition Agreement (Richardson Electronics LTD/De)

Post-Closing Receipts. In the event that either party If after the Closing Date any Party receives any funds properly belonging to the other party another Party in accordance with the terms of this Agreement, the receiving party Party will promptly so advise such the other partyParty, will segregate and hold such funds in trust for the benefit of such other party Party and will promptly deliver such funds, together with any interest earned thereon, to an account or accounts designated in writing by such other partyParty.

Appears in 1 contract

Samples: Asset Purchase Agreement (Alion Science & Technology Corp)

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Post-Closing Receipts. In the event that either party If after the Closing Date either Party receives any funds properly belonging to the other party Party in accordance with the terms of this Agreement, the receiving party Party will promptly so advise such the other party, will segregate and hold such funds in trust for the benefit of such other party Party and will promptly deliver such funds, together with any interest earned thereon, funds to an the account or accounts designated in writing by such other partyParty.

Appears in 1 contract

Samples: Asset Purchase Agreement (Maximus Inc)

Post-Closing Receipts. In the event that either any party after the Closing Date receives any funds properly belonging to the any other party in accordance with the terms of this Agreement, the receiving party will promptly so advise such other party, will segregate and hold such funds in trust for the benefit of such other party and will promptly deliver such funds, together with any interest earned thereon, to an account or accounts designated in writing by such other party. Purchaser.

Appears in 1 contract

Samples: Asset Purchase Agreement (Softlock Com Inc)

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