07Divisions Clause Samples
The '07Divisions' clause defines how a contract or agreement is organized into separate sections or divisions, each addressing a specific subject or aspect of the overall arrangement. In practice, this clause may specify that the contract is divided into numbered or titled parts, such as general terms, payment provisions, or technical requirements, making it easier to reference and navigate. By structuring the document in this way, the clause ensures clarity and helps all parties quickly locate relevant information, reducing the risk of misunderstandings or disputes over contract terms.
07Divisions. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time.
07Divisions. For all purposes under the Loan Documents, in connection with any division or plan of division of or with respect to any Person under Delaware law (or any comparable event under the applicable law of any other jurisdiction), if, pursuant thereto, (a) any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been disposed by the original Person to the subsequent Person, and (b) any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its capital stock at such time.
07Divisions. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): DB1/ 133985272.1133985272.4