Common use of Valid Receipt Clause in Contracts

Valid Receipt. The Vendor’s Solicitors are authorised to receive payment of the Consideration on behalf of the Vendor. The receipt of the Vendor’s Solicitors shall be a complete discharge to the Purchaser who shall not be obliged to enquire as to the distribution of the Consideration.

Appears in 2 contracts

Sources: Share Purchase Agreement, Share Purchase Agreement (Build a Bear Workshop Inc)