Common use of Adequate Assurance Clause in Contracts

Adequate Assurance. Purchaser shall be responsible for providing evidence and argument in support of the Sale Approval Motion in order to establish its ability to provide “adequate assurance of future performance” (within the meaning of Section 365(f)(2)(B) of the Bankruptcy Code) of any Contract identified as an Assigned Contract. The Sellers agree to use their reasonable best efforts to cooperate with the Purchaser in the presentation of such evidence and argument. The Bankruptcy Court’s refusal to approve the assumption by the Purchaser of any Contract on the grounds that “adequate assurance of future performance” by the Purchaser of such Contract has not been provided shall not constitute (i) a failure of the condition precedent described in Section 9.4 hereof or (ii) grounds for termination pursuant to Section 12.1(b) hereof.

Appears in 1 contract

Samples: Asset Purchase Agreement (Divine Inc)

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Adequate Assurance. Purchaser shall be responsible for providing provide evidence and argument in support of the Sale Approval Motion Order in order to establish its ability to provide "adequate assurance of future performance" (within the meaning of Section 365(f)(2)(B) of the Bankruptcy Code) of any Contract identified as an Assigned a Designated Contract. The Sellers agree to use their commercially reasonable best efforts to cooperate with the Purchaser in the presentation of such evidence and argument. The Bankruptcy Court’s 's refusal to approve the assumption by the Purchaser of any Designated Contract or Added Contract solely on the grounds that "adequate assurance of future performance" by the Purchaser of such Designated Contract or Added Contract has not been provided shall not constitute (i) a failure of the condition precedent described in Section 9.4 hereof 9.2 hereof, or (ii) grounds for termination pursuant to Section 12.1(b) hereof.

Appears in 1 contract

Samples: Asset Purchase Agreement (Dt Industries Inc)

Adequate Assurance. Purchaser shall be responsible for providing evidence and argument in support of the Sale Approval Motion in order to establish its ability to provide "adequate assurance of future performance" (within the meaning of Section 365(f)(2)(B) of the Bankruptcy Code) of any Contract identified as an Assigned Contract. The Sellers agree to use their reasonable best efforts to cooperate with the Purchaser in the presentation of such evidence and argument. The Bankruptcy Court’s 's refusal to approve the assumption by the Purchaser of any Contract on the grounds that "adequate assurance of future performance" by the Purchaser of such Contract has not been provided shall not constitute (i) a failure of the condition precedent described in Section 9.4 9.4(b) hereof or (ii) grounds for termination pursuant to Section 12.1(b) hereof.

Appears in 1 contract

Samples: Asset Purchase Agreement (Divine Inc)

Adequate Assurance. Purchaser shall be responsible for providing evidence and argument in support of the Sale Approval Motion in order to establish its ability to provide “adequate assurance of future performance” (within the meaning of Section 365(f)(2)(B) of the Bankruptcy Code) of any Contract identified as an Assigned Contract. The Sellers agree to use their reasonable best efforts to cooperate with the Purchaser in the presentation of such evidence and argument. The Bankruptcy Court’s refusal to approve the assumption by the Purchaser of any Contract on the grounds that “adequate assurance of future performance” by the Purchaser of such Contract has not been provided shall not constitute (i) a failure of the condition precedent described in Section 9.4 9.4(b) hereof or (ii) grounds for termination pursuant to Section 12.1(b) hereof.

Appears in 1 contract

Samples: Asset Purchase Agreement (Divine Inc)

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Adequate Assurance. Purchaser shall be responsible for providing evidence and argument in support of the Sale Approval Motion Order in order to establish its ability to provide “adequate assurance of future performance” (within the meaning of Section 365(f)(2)(B) of the Bankruptcy Code) of any Contract identified as an Assigned a Designated Contract. The Sellers agree Seller agrees to use their commercially reasonable best efforts to cooperate with the Purchaser in the presentation of such evidence and argument. The Notwithstanding the foregoing, the Bankruptcy Court’s refusal to approve the assumption by the Purchaser of any Contract on the grounds that “adequate assurance of future performance” by the Purchaser of such Contract has not been provided shall not constitute (i) a failure of the condition precedent described in Section 9.4 hereof or (ii) grounds for termination pursuant to Section 12.1(b) hereof.

Appears in 1 contract

Samples: Asset Purchase Agreement (Grand Toys International Inc)

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