ASC PAYMENTS Sample Clauses
ASC PAYMENTS. ASC shall be entitled to receive from IMA payments equal to the sum of the Net Proceeds received by IMA from the sale of all lots in the IMA Project multiplied by the ASC Participation Ratio. IMA shall remit payments to ASC within 30 days of receipt of any cash by IMA, together with a statement certified by IMA's chief financial officer setting forth the calculation of Net Proceeds in sufficient detail to provide an independent public accounting firm with an adequate basis to verify the calculation upon audit.