Receipts and Disbursements. If, after the Closing, Buyer receives any funds relating to operations on or production from the Interests prior to the Effective Time, or Seller receives any funds relating to operations on or production from the Interests after the Effective Time, then the party receiving such funds shall account therefor and pay the same to the other party promptly after receipt thereof. Likewise, if Buyer shall be required to pay any amount relating to items of the Interests which accrued to the owner of the Interests before the Effective Time, or if Seller shall be required to pay any amount (not otherwise prohibited by the terms of this Agreement) relating to items of the Interests which accrued to the owner of the Interests after the Effective Time, then the party making such payment shall invoice the other party for the amount of such payment and the party receiving such invoice promptly shall pay the same. Notwithstanding the foregoing, there shall be no accounting for amounts received or paid which have already been taken into account in calculating the Purchase Price. In determining the amount paid by a party accruing during a period of time in respect of ad valorem taxes, the taxes shall be prorated as provided in Section 7.6(a).
Receipts and Disbursements. All monies received by Property Manager for or on behalf of Owner in connection with the operation or management of the Project shall be promptly deposited by Property Manager in a bank account or accounts established by Property Manager (collectively, the “Operating Account”). Property Manager shall withdraw and pay from the Operating Account such amounts at such times as the same are required in connection with the management and operation of the Project in accordance with the provisions of this Agreement. All monies in the Operating Account are the property of Owner, to be held by Property Manager in trust for Owner in an account designated as “Agent for Owner” and disbursed in accordance with this Agreement. A separate account for tenant security deposits shall be established if required by applicable law or Owner.
Receipts and Disbursements. If, after the Closing, Buyer receives any funds relating to operations on or production from the Merger-Target prior to the Effective Time, or Seller receives any funds relating to operations on or production from the Merger-Target after the Effective Time, then the party receiving such funds shall account therefor and pay the same to the other party promptly after receipt thereof. Oil produced and in the tanks prior to closing shall be measured by both parties prior to closing and if Seller wishes it picked-up by purchaser shall cause it to be done prior to closing. Otherwise, Buyer will pay the net amount to Seller when payment therefore is received by Buyer following closing.
Receipts and Disbursements. The CRWA will ensure strict accountability for all funds of the organization and will require reports on all receipts and disbursements made to, or on behalf of the CRWA.
Receipts and Disbursements. In the event that Buyer receives any payment subsequent to the Closing Date properly payable to LIN in connection with the Excluded Assets or otherwise, such payment shall promptly be the property of, and shall be forwarded and remitted to, LIN. In the event that LIN receives any payment subsequent to the Closing Date properly payable to Buyer in connection with the Assets or otherwise, such payment shall promptly be the property of, and shall be forwarded and remitted to, Buyer.
Receipts and Disbursements. The [insert name of JPE] will ensure strict accountability for all funds of the organization and will require reports on all receipts and disbursements made to, or on behalf of the [insert name of the JPE].
Receipts and Disbursements. The Horizon Community Health Board will ensure strict accountability for all funds of the organization and will require reports on all receipts and disbursements made to, or on behalf of Horizon Public Health.
Receipts and Disbursements. 6.8.1 In the event that Buyer receives any payments subsequent to the Closing Date relating to any Receivables, such payment shall be immediately forwarded and remitted to Seller. Seller agrees that it shall not, and shall ensure that its Affiliates and Representatives do not, contact any customer of the Company with respect to any unpaid Receivable owed by such customer until at least sixty (60) days after the due date for payment of such Receivable, and at that time makes best efforts to contact the customer with a Representative of Buyer.
Receipts and Disbursements. All receipts of revenues of the Corporation from any source shall be deposited in the Corporation's general bank accounts, and all disbursements on behalf of the Corporation, including the payment of the Manager's fee and the funding of loans or investments by the Corporation, shall be made from the Corporation's general bank accounts. Any payments or disbursements to be made shall be signed by such officers or agents of the Corporation as will comply in all respects with applicable SBA regulations. On behalf of the Corporation, the Manager shall have authority to invest any liquid funds from time to time into monetary instruments bearing interest that will comply with applicable SBA regulations, the 1940 Act and the Act (and regulations promulgated thereunder), provided that the investment of said funds shall at all times be done in the name of the Corporation. The Manager shall maintain a separate bank account in its own name for the receipt of the Manager's fee and from said bank account the Manager shall make disbursements for all expenses required to be paid by it pursuant to this Agreement.
Receipts and Disbursements. The Manager shall establish and maintain in one or more depositories designated by the Authority one or more payroll, operating and other bank accounts for the marketing, operation and management of the Stadium Site and Urban Park in the name of the Authority and under the Authority’s federal identification number, with the Manager as agent and with signature authority in such employees of the Manager as the Manager and Authority shall determine. All Operating Revenues shall be deposited into such accounts and the Manager, as agent for the Authority, shall pay Operating Expenses from such accounts. All Operating Revenues are the sole property of the Authority, held in trust by the Manager for the Authority. The Manager shall promptly pay to the Authority any amounts remaining in such accounts upon termination of this Agreement for any reason, after payment of all outstanding Operating Expenses.
