ASSIGNMENT OF DISTRIBUTOR SALES AGREEMENTS Sample Clauses
ASSIGNMENT OF DISTRIBUTOR SALES AGREEMENTS. On the Closing Date, Seller will assign to Purchaser, and Purchaser shall assume the assignment of and accept Seller's obligations under, the Distributor Sales Agreements. On the Closing Date, Seller will assign to Purchaser, and Purchaser shall assume the assignment of and accept the obligations of Seller under, any loan agreements and/or reimbursement agreements between Seller and the Distributors, together with any mortgages and security interests securing such loans. The current balances of the Distributors' loans and/or reimbursement agreements are set forth on Exhibit "E". The Parties acknowledge and agree that the Purchase Price set forth in Section 3.1 includes payment for certain unamortized balances due Seller by such Distributors. At least seven (7) days before the Closing Date, Seller will notify Purchaser of the amounts of the unamortized balances owed by each Distributor.