Common use of Additional Assets Clause in Contracts

Additional Assets. During the period from the Closing Date and continuing until two (2) years after the Closing Date, if Nuprim Shareholders or Motif identify any Assets or Intellectual Property of Nuprim that are necessary for (and were used by Nuprim in) the Business as conducted by Nuprim prior to Closing that were not sold, assigned, transferred, conveyed and delivered to Motif as required by this Agreement, then Nuprim Shareholders shall undertake, at no cost to Motif, to promptly transfer such asset to Motif, but in each instance only to the extent any such asset is: (i) in existence as of such time, and (ii) in the possession of, and controlled and freely transferable by, Nuprim Shareholders.

Appears in 2 contracts

Sources: Merger Agreement (Motif Bio PLC), Merger Agreement (Motif Bio PLC)