Asset Returns Clause Samples
The Asset Returns clause defines the procedures and obligations related to the return of assets, such as equipment, property, or materials, at the end of a contract or upon termination. Typically, it specifies the condition in which assets must be returned, the timeframe for their return, and any responsibilities for repair or replacement if the assets are damaged or missing. This clause ensures that all parties understand their duties regarding the handling and restitution of assets, thereby minimizing disputes and protecting the interests of the asset owner.
Asset Returns. In the event Buyer receives any assets of the Company that are not intended to be transferred pursuant to the terms of this Agreement, Buyer agrees to promptly return such assets to Seller at Seller's expense. In the event any payments are made to Buyer following the Closing with respect to Accounts Receivable that are not attributable to the Analytical Instruments Business or that relate to any Excluded Assets or Excluded Liabilities, Buyer agrees to forward such payments to Seller promptly. In the event any payments are made to Seller following the Closing with respect to Accounts Receivable that are attributable to the Analytical Instruments Business or that relate to any Assets or Assumed Liabilities, Seller agrees to forward such payments to Buyer promptly. In the event that, following the Closing, Seller or any of the Subsidiaries receives any assets that were intended to be, but were not, transferred pursuant to this Agreement at the Closing, Seller shall promptly notify Buyer to such effect and shall comply with its obligations in respect thereof contemplated by Section 1.5.
Asset Returns. In the event Buyer receives any assets of Seller that are not intended to be transferred pursuant to the terms of this Agreement, whether or not related to the services to be provided by Buyer under the MSA, Buyer agrees to return such assets to Seller at Seller's expense promptly, and in any case, within thirty (30) days as of the date Buyer becomes aware thereof. In addition, the Buyer agrees to provide Seller with access to the books, records and data (or copies thereof) transferred in connection with the Assets should Seller need such access for legal, audit or tax reasons.
Asset Returns. In the event Buyer receives any assets of Seller that are not intended to be transferred pursuant to the terms of this Agreement, whether or not related to the services to be provided by Buyer under the MSA, Buyer agrees to return such assets to Seller at Seller's expense within thirty (30) days as of the date Buyer becomes aware thereof. In the event that, following the Closing Date, Seller receives any assets that were intended to be, but were not, transferred pursuant to this Agreement on the Closing Date, Seller shall promptly notify Buyer to such effect and shall comply with its obligations in respect thereof contemplated by Section 1.5.
Asset Returns. In the event Buyer receives any assets of Seller that ------------- are not intended to be transferred pursuant to the terms of this Agreement, whether or not related to the Business, Buyer agrees to promptly return such assets to Seller at Seller's expense. In the event that, following the Closing, Seller receives any assets that were intended to be, but were not, transferred pursuant to this Agreement at the Closing, Seller shall promptly notify Buyer to such effect and shall comply with its obligations in respect thereof contemplated by Section 2.4.
Asset Returns. In the event the Buying Entities receive any assets of the Seller and its Subsidiaries that are not intended to be transferred pursuant to the terms of this Agreement, whether or not related to the Business, Buyer agrees to, and shall cause the Buying Entities to promptly return such assets to Seller or its Subsidiaries at Seller’s direction and expense. In the event that, following the Closing, Seller receives or finds in its or its Subsidiaries’ possession any Purchased Assets that were intended to be, but were not, transferred pursuant to this Agreement at the Closing, Seller shall promptly notify Buyer to such effect and shall comply with its obligations in respect thereof.
Asset Returns. In the event any Buyer Entity receives any assets of a Seller Entity that are not intended to be transferred pursuant to the terms of this Agreement, Buyer agrees to, and to cause the applicable Buyer Subsidiary to, promptly return such assets to Seller at Seller's expense.