Trust Monies. Seller shall have all monies collected from employees and customers of Seller and owed to third parties, including, but not limited to, all taxes and insurance premiums, placed in a separate bank account such that these funds will be segregated from all other amounts collected by Seller from operations of the Business, and such funds shall be used only for payment to third parties as due. Buyer must approve, in its sole discretion, the segregation of such funds. Sellers shall also deposit the amounts described in Section 6.1(b) into such a segregated account as well.
Appears in 5 contracts
Samples: Asset Purchase Agreement (Resourcing Solutions Group Inc), Asset Purchase Agreement (Resourcing Solutions Group Inc), Asset Purchase Agreement (Resourcing Solutions Group Inc)
