Examples of Transferred Entities in a sentence
Taxes (other than Transfer Taxes) imposed upon or assessed directly against the Transferred Assets or Transferred Equity Interests (including ad valorem taxes, real estate Taxes, personal property Taxes and similar Taxes, and for the avoidance of doubt not to include Taxes of the Transferred Entities) for the Tax period in which the Closing occurs (the “Straddle Period”) will be apportioned and prorated between Seller Parties and Buyer as of the Closing Date.
Neither the Seller Parties nor any of the Transferred Entities has received any written notice of or been charged with any violation of any Law applicable to the conduct of the Business, except where such violation would not be reasonably expected to be material to the Business taken as a whole.
To the Knowledge of Seller, the Business Intellectual Property and the Business Technology, as used in the operation of the Business, and the operation of the Business by the Seller Parties and the Transferred Entities does not infringe upon or misappropriate the Intellectual Property of any third party in a manner that would reasonably be expected to be material to the Business taken as a whole.
All material amounts of Taxes shown due on such Tax Returns owed by (x) the Seller Parties solely with respect to the Transferred Assets and (y) the Transferred Entities, in each case, have been fully paid or properly accrued for on the Financial Statements, other than with respect to any Taxes the payment of which was precluded by reason of the Bankruptcy Cases.
Except as otherwise expressly set forth in this Agreement, Xxxxx understands and agrees that the Transferred Entities, the Assets, the Business, the Transferred Assets and the Assumed Liabilities are being transferred on a “where-is” and, as to condition, “as-is” basis subject to the representations and warranties contained in Article IV (as modified by the Disclosure Schedules) without any other representations or warranties of any nature whatsoever.