Common use of Consent of Third Parties Clause in Contracts

Consent of Third Parties. (a) On the Closing Date, Reliant shall assign to the Purchaser, and the Purchaser will assume, the Assigned Contracts and Orders to the extent provided in this Agreement. To the extent that the assignment of all or any portion of any Assigned Contract or Order shall require the consent of the other party thereto or any other third party that has not been obtained prior to the Closing Date, this Agreement shall not constitute an agreement to assign any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereunder.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Reliant Pharmaceuticals, Inc.), Asset Purchase Agreement (Reliant Pharmaceuticals, Inc.), Asset Purchase Agreement (Reliant Pharmaceuticals, Inc.)

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Consent of Third Parties. (a) On the Closing Date, Reliant Seller shall assign to the Purchaser, and the Purchaser will assume, the Assigned Contracts and Orders Contracts, in each case to the extent provided permitted by, and in this Agreementaccordance with, applicable Law. To Notwithstanding anything herein to the extent that contrary, but subject to Purchaser’s rights under Section 7.2(e), if the assignment or assumption of all or any portion of any rights or obligations under any Assigned Contract or Order shall require the consent of the any other party thereto or any other third party that has not been obtained prior to the Closing Date, this Agreement shall not constitute an agreement to assign assign, license, sublicense, lease, sublease, convey or otherwise transfer any rights or obligations under any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereof, unless and until such consent is obtained. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant Seller and the Purchaser shall cooperate, in all commercially reasonable respects, to obtain any necessary consents to the assignment of the such Assigned Contracts and OrdersContracts, provided that neither no Party shall be required to make any material payments or agree to any material undertakings in connection therewith, and (iiiii) until the earliest of: (A) the date all such consents are obtained or obtained, (B) the date all such Assigned Contracts and Orders expire or are terminatedterminated or (C) the date which is six (6) months from the Closing Date, Reliant Seller and the Purchaser shall cooperate, in all commercially reasonable respects, to provide to the Purchaser the benefits under the such Assigned Contracts and Orders (with the Purchaser being entitled to all the gains and responsible for all Losses, Taxes and Liabilities realized or incurred thereunder from the losses, Taxes, liabilities and/or obligations Closing Date until the expiration of such period if Purchaser receives the benefits thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a)2.5, if reasonably requested by the Purchaser, Reliant Seller shall use commercially reasonable efforts to seek to enforce for the benefit of the Purchaser all reasonable claims or rights of Reliant Seller arising under the applicable Assigned Contracts at Purchaser’s expense; provided, that Purchaser shall indemnify Seller and Ordersits Affiliates for any and all Losses arising in connection with any Action by a third party arising from, in connection with or otherwise with respect to actions taken or failed to be taken by Seller or any of its Affiliates consistent with Purchaser’s request and direction under this Section 2.5. The Provided that Purchaser receives the benefits thereunder, Purchaser shall perform and comply with, at the Purchaser’s cost, all of ReliantSeller’s obligations incurred during such period under the such Assigned Contracts and Orders as if the Purchaser was Reliant were Seller thereunder. Promptly after any required consents to assignment are obtained for any such Assigned Contracts, Seller shall assign and transfer such Assigned Contract to Purchaser without any further payment or consideration.

Appears in 2 contracts

Samples: Purchase Agreement (Allergan Inc), Purchase Agreement (QLT Inc/Bc)

Consent of Third Parties. (a) On the Closing Date, Reliant shall Seller will assign to the PurchaserBuyer, and the Purchaser Buyer will assume, the Assigned Contracts and Orders the Permits which are to be transferred to Buyer as and to the extent provided in this AgreementAgreement by means of the Assignment and Assumption Agreement referred to in Section 1.7. To the extent that the assignment of all or any portion of any Assigned Contract or Order Permit shall require the consent of the other party thereto or any other third party that and such consent has not been obtained prior to the Closing DateClosing, this Agreement and the Assignment and Assumption Agreement shall not constitute an agreement to assign any such Assigned Contract or Order Permit included in the Acquired Assets if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser Buyer the full realization and value of every Assigned Contract and Order or Permit of the character described in the immediately preceding sentence (i) at the Closingsentence, the Purchaser Seller agrees that on and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant it will, at the request and under the direction of Buyer, in the name of Seller or otherwise as Buyer shall specify, take all commercially reasonable actions (including the appointment of Buyer as attorney-in-fact for Seller to proceed at Buyer's sole cost and expense) to obtain such consent, including forwarding to Buyer any funds received pursuant to The Dingley Press Municipal Development and Tax Increment Financing Program, dated December 7, 1993, and the Purchaser Credit Enhancement Agreement, dated as of March 1, 1994, between the Town of Lisbon, Maine and The Dingley Press, as amended (including by Amendment dated January 22, 1998). Pending obtaining such consents, Buyer and Seller shall cooperate, cooperate with each other in all reasonable respects, and lawful arrangements designed (a) to obtain any necessary consents to assure that the assignment rights of the Assigned Seller under such Contracts and Orders, provided that neither Party or Permits shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce preserved for the benefit of or transferred or issued to Buyer and (b) to facilitate receipt of the Purchaser consideration to be received by Seller in and under every such Contract or Permit, which consideration shall be held for the benefit of, and shall be delivered to, Buyer. Nothing in this Section 1.4 shall in any way diminish Seller's obligations hereunder to obtain all claims consents and approvals and to take all such other actions prior to or rights at Closing as are necessary to enable Seller to convey or assign good and marketable title free and clear of Reliant arising under Liens (other than Permitted Exceptions) to all the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereunderAcquired Assets to Buyer.

Appears in 1 contract

Samples: Asset Purchase Agreement (Dingley Press, Inc.)

Consent of Third Parties. (a) On the Closing Date, Reliant Nothing in this Agreement shall be construed as an attempt by Seller to assign to Buyer pursuant to this Agreement any Contract, permit, franchise, claim or Asset included in the PurchaserPurchased Assets that is by its terms or by law nonassignable without the consent of any other party or parties, and unless such consent or approval shall have been given, or as to which all the Purchaser will assume, remedies for the Assigned Contracts and Orders enforcement thereof available to Seller would not by law pass to Buyer as an incident of the extent assignments provided in for by this AgreementAgreement (a “Non-Assignable Contract”). To the extent that the assignment of all any Seller Required Consent in respect of, or any portion of any Assigned a novation of, a Non-Assignable Contract or Order shall require the consent of the other party thereto or any other third party that has not have been obtained prior to on or before the Closing Date, Seller shall continue to use its reasonable best efforts to obtain any such Seller Required Consent or novation after the Closing Date until such time as it shall have been obtained, and Seller shall cooperate with Buyer in any economically feasible arrangement to provide that Buyer shall receive the interest of Seller in the benefits under such Non-Assignable Contract, including performance by Seller as agent if economically feasible; provided that Buyer shall undertake to pay or satisfy the corresponding Liabilities under the terms of such Non-Assignable Contract to the extent that Buyer would have been responsible therefor if such consent or approval had been obtained. Seller shall pay and discharge, and shall indemnify and hold harmless Buyer and its Affiliates from and against, any and all out-of-pocket costs of seeking to obtain or obtaining any consent to the assignment of any Contract, whether before or after the Closing Date, except for (i) any vendor agreement with the Seller’s customers listed on Schedule 4.4 and (ii) any license for the use of a Trademark, Copyright or Patent used in or on an item of Inventory where Seller’s sales of such item during the calendar year 2006 or during the period commencing January 1, 2007 through the Closing Date were or are less than $25,000 per year. Nothing contained in this Section 2.6 or elsewhere in this Agreement shall not be deemed a waiver by Buyer of its right to have received on the Closing Date an effective assignment of all of the Purchased Assets or of the covenant of Seller to obtain all of the Seller Required Consents, nor shall this Section 2.6 or any other provision of this Agreement be deemed to constitute an agreement to assign exclude from the Purchased Assets any such Assigned Contract or Order if an attempted assignment without any such consent would constitute Contracts as to which a breach or violation thereof. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall Seller Required Consent may be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereundernecessary.

Appears in 1 contract

Samples: Asset Purchase Agreement (CSS Industries Inc)

Consent of Third Parties. (a) On Nothing in this Agreement shall be ------------------------ construed as an attempt by the Closing Date, Reliant shall Seller to assign to the PurchaserBuyer pursuant to this Agreement any Contract, and permit, franchise, claim or asset included in the Purchaser will assumePurchased Assets that is by its terms or by law nonassignable without the consent of any other party or parties, unless such consent or approval shall have been given, or as to which all the Assigned Contracts and Orders remedies for the enforcement thereof available to the extent Seller would not by law pass to Buyer as an incident of the assignments provided in for by this AgreementAgreement (a "Non-Assignable Contract"). To the extent that the assignment of all any Seller Required Consent in respect of, or any portion of any Assigned a novation of, a Non- Assignable Contract or Order shall require the consent of the other party thereto or any other third party that has not have been obtained prior to on or before the Closing Date, the Buyer may elect to proceed with the Closing, in which case, the Seller shall continue to use reasonable efforts to obtain any such Seller Required Consent or novation after the Closing Date until such time as it shall have been obtained, and the Seller shall cooperate with the Buyer in any economically feasible arrangement to provide that the Buyer shall receive the interest of the Seller in the benefits under such Non-Assignable Contract, including performance by the Seller as agent if economically feasible, provided that Buyer shall undertake to pay or satisfy the corresponding Liabilities under the terms of such Non- Assignable Contract to the extent that the Buyer would have been responsible therefor if such consent or approval had been obtained. The Seller shall pay and discharge, and shall indemnify and hold harmless the Buyer and its Affiliates from and against, any and all out-of-pocket costs of seeking to obtain or obtaining any such Seller Required Consent whether before or after the Closing Date. Nothing contained in this Section 2.7 or elsewhere in this Agreement shall not be deemed a waiver by the Buyer of its right to have received on the Closing Date an effective assignment of all of the Purchased Assets or of the covenant of the Seller to obtain all of the Seller Required Consents, nor shall this Section 2.7 or any other provision of this Agreement be deemed to constitute an agreement to assign exclude from the Purchased Assets any such Assigned Contract or Order if an attempted assignment without any such consent would constitute Contracts as to which a breach or violation thereof. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall Seller Required Consent may be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereundernecessary.

Appears in 1 contract

Samples: Asset Purchase Agreement (Verticalnet Inc)

Consent of Third Parties. (a) On the Closing Date, Reliant shall assign Anything in this Agreement to the Purchaser, and the Purchaser will assume, the Assigned Contracts and Orders to the extent provided in this Agreement. To the extent that the assignment of all or any portion of any Assigned Contract or Order shall require the consent of the other party thereto or any other third party that has not been obtained prior to the Closing Datecontrary notwithstanding, this Agreement shall not constitute an agreement to assign any such Assigned Contract of the Triple Sub Contracts, Triple Sub Permits, Triple Sub Warranties, Holdings Contracts, Holdings Permits or Order Holdings Warranties or any claim, right or benefit arising thereunder or resulting therefrom if an attempted assignment thereof, without any such the consent of a third Person thereto, would constitute a breach or violation thereofother contravention thereof or in any way adversely affect the rights of Holdings or Triple Sub, as the case may be, thereunder. In orderTriple Sub or Holdings, howeveras applicable, will use reasonable best efforts to seek to provide obtain the Purchaser the full realization and value of every Assigned Contract and Order consent of the character described other parties to any such Triple Sub Contract, Triple Sub Permit, Triple Sub Warranty, Holdings Contract, Holdings Permit or Holdings Warranty, as the case may be, for the assignment thereof to Holdings or Triple Sub, as applicable. If such consent is not obtained prior to the Closing, or if an attempted assignment thereof would be ineffective or would adversely affect the rights of Holdings or Triple Sub, as the case may be, thereunder so that Holdings or Triple Sub, as applicable, would not in the immediately preceding sentence fact receive all such rights, Triple Sub and Holdings will cooperate to achieve a mutually agreeable arrangement under which (i) at Holdings would obtain the Closing, benefits and assume the Purchaser obligations thereunder (but only to the extent such obligations would have constituted Triple Sub Assumed Liabilities if such assignment occurred on the Closing Date) from and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the ClosingClosing Date in accordance with this Agreement, Reliant and the Purchaser shall cooperateincluding subcontracting, in all reasonable respectssublicensing or subleasing to Holdings, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to which Triple Sub would enforce for the benefit of Holdings, with Holdings assuming Triple Sub’s obligations to the Purchaser same extent as if it would have constituted a Triple Sub Assumed Liability, and any and all claims or rights of Reliant arising Triple Sub against a third Person thereto; and (ii) Triple Sub would obtain the benefits and assume the obligations thereunder (but only to the extent such obligations would have constituted Holdings Assumed Liabilities if such assignment occurred on the Closing Date) from and after the Closing Date in accordance with this Agreement, including subcontracting, sublicensing or subleasing to Triple Sub or under which Holdings would enforce for the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at benefit of Triple Sub with Triple Sub assuming Holdings’ obligations to the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders same extent as if it would have constituted a Holdings Assumed Liability, and any and all rights of Holdings against a third Person thereto. Triple Sub or Holdings as applicable, will pay promptly to the Purchaser was Reliant thereunderother applicable party when received all monies received by Triple Sub or Holdings, as applicable, after the Closing Date under any of the Triple Sub Contracts, Triple Sub Permits, Triple Sub Warranties, Holdings Contracts, Holdings Permits or Holdings Warranities, as the case may be, or any claim, right or benefit arising thereunder to the extent that Holdings or Triple Sub, as applicable, would be entitled thereto pursuant hereto.

Appears in 1 contract

Samples: Asset Exchange Agreement (Triple Crown Media, Inc.)

Consent of Third Parties. (a) On As of the Closing DateEffective Time, Reliant Seller shall assign to the PurchaserBuyer, and the Purchaser Buyer will assume, the Assigned Contracts and Orders to the extent provided in this Agreement. To , in each case to the extent that permitted by, and in accordance with, applicable Law. Notwithstanding anything herein to the contrary, if the assignment or assumption of all or any portion of any rights or obligations under any Assigned Contract or Order shall require the consent of the any other party thereto or any other third party that has not been obtained prior to the Closing DateEffective Time, this Agreement shall not constitute an agreement to assign assign, license, sublicense, lease, sublease, convey or otherwise transfer any rights or obligations under any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser Buyer the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant Seller and the Purchaser Buyer shall cooperate, in all reasonable respects, to obtain any remaining necessary consents to the assignment of the any Assigned Contracts and OrdersContracts; provided, provided however, that neither Party shall be required to make any material payments or agree to any material undertakings in connection therewith, and (iiiii) until the earliest of: (A) the date all such consents are obtained or obtained, (B) the date all such Assigned Contracts and Orders expire or are terminated, Reliant or (C) the date which is three (3) months from the Closing Date, Seller and the Purchaser Buyer shall cooperate, in all reasonable respects, to provide to the Purchaser Buyer the benefits under the Assigned Contracts and Orders (with the Purchaser Buyer being entitled to all the gains and subject to, and responsible for for, all the lossesLosses, Taxes, liabilities and/or obligations Taxes and Liabilities thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a)2.5, if reasonably requested by the PurchaserBuyer, Reliant Seller shall use commercially reasonable efforts to seek to enforce for the benefit of the Purchaser Buyer all reasonable claims or rights of Reliant Seller arising under the applicable Assigned Contracts Contracts; provided, however, (Y) Buyer shall indemnify Seller and Ordersits Affiliates for any and all Losses arising in connection with any Action by a third party arising from, in connection with, or otherwise with respect to actions taken or failed to be taken by Seller at Buyer’s request pursuant to this Section 2.5 and (Z) Buyer shall reimburse Seller for all reasonable and documented out-of-pocket expenses actually incurred by Seller arising from, in connection with, or otherwise with respect to actions taken by Seller at Buyer’s request pursuant to this Section 2.5. The Purchaser Buyer shall perform and comply with, at the PurchaserBuyer’s cost, all of ReliantSeller’s obligations under the Assigned Contracts and Orders as if the Purchaser Buyer was Reliant Seller thereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Nabi Biopharmaceuticals)

Consent of Third Parties. (a) On the Closing Date, Reliant the Seller shall assign to the PurchaserBuyer, and the Purchaser Buyer will assume, the Assigned Contracts and Orders to the extent provided in this Agreement. To the extent that the assignment of all or any portion of any Assigned Contract or Order shall require the consent of the other party thereto or any other third party that has not been obtained prior to the Closing Dateparty, this Agreement shall not constitute an agreement to assign any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser Buyer the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (iia) as soon as practicable after the Closing, Reliant the Seller and the Purchaser Buyer shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and OrdersContracts, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iiib) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant the Seller and the Purchaser Buyer shall cooperate, in all reasonable respects, to provide to the Purchaser Buyer the benefits under the Assigned Contracts and Orders (with the Purchaser Buyer entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iiib) of this Section 2.5(a2.1(e), if reasonably requested by the Purchaser, Reliant Seller shall seek to enforce at the cost of and for the benefit of the Purchaser Buyer all claims or rights of Reliant the Seller arising under the applicable Assigned Contracts Contracts, and Orders. The Purchaser the Buyer shall perform and comply with, at the Purchaser’s Buyer's cost, all of Reliant’s the Seller's obligations under the Assigned Contracts and Orders as if the Purchaser Buyer was Reliant the Seller thereunder. Nothing in this Section 2.1(e) shall in any way diminish the condition in Section 6.1(f) of this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Nabi Biopharmaceuticals)

Consent of Third Parties. (a) On the Closing Date, Reliant the Seller shall assign to the PurchaserBuyer, and the Purchaser will Buyer shall assume, the Assigned Contracts and Orders to the extent provided in this Agreement. To the extent that the assignment of all or any portion of any Assigned Contract or Order shall require the consent of the other party thereto or any other third party that has not been obtained prior to the Closing Dateparty, this Agreement shall not constitute an agreement to assign any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser Buyer the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant the Seller and the Purchaser Buyer shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and OrdersContracts, provided that neither Party party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iiiii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant the Seller and the Purchaser Buyer shall cooperate, in all reasonable respects, to provide to the Purchaser Buyer the benefits under the Assigned Contracts and Orders (with the Purchaser Buyer entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations Taxes and Liabilities thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iiiii) of this Section 2.5(a)2.5, if reasonably requested by the Purchaser, Reliant Seller shall seek to enforce at the cost of and for the benefit and risk of the Purchaser Buyer all claims or rights of Reliant the Seller arising under the applicable Assigned Contracts to the extent such claims or rights are included in the Purchased Assets, and Orders. The Purchaser the Buyer shall perform and comply with, at the PurchaserBuyer’s cost, all of Reliantthe Seller’s obligations under the Assigned Contracts and Orders Contracts, to the extent such obligations are Assumed Liabilities as if the Purchaser Buyer was Reliant the Seller thereunder. Nothing in this Section 2.5 shall in any way diminish the conditions in Article IX of this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Nabi Biopharmaceuticals)

Consent of Third Parties. Nothing in this Agreement shall be construed as an attempt for Seller to assign to Purchaser, or for Purchaser to assume from Seller, any Assumed Contract that is not capable of being validly assigned, conveyed and transferred without the consent of a third party unless such consent shall have been obtained and remains in full force and effect at the Closing. Subsequent to the Closing, Seller shall use its reasonable best efforts to assist Purchaser in obtaining such consents, and shall assign each Assumed Contract to Purchaser upon receipt of the relevant consents for that contract. Until such time as such consents may be obtained, the parties agree that to the extent practicable they will engage in mutually agreeable arrangements, including subcontracting, sublicensing or subleasing, by which Purchaser will perform Seller's obligations under the relevant Assumed Contract and by which Seller will provide the benefits of such contract to Purchaser, including (ai) On enforcement of and for the account of Purchaser, at Purchaser's expense and direction, any and all rights and remedies of Seller against the other party thereto, and (ii) diligent collection and payment to Purchaser of any amounts received after the Closing DateDate by Seller under the relevant contract, Reliant in each case with payment to Purchaser to be made within 5 days of receipt of such amounts; provided, however, that if Purchaser shall assign so request, Seller shall instruct third parties to such contract to pay amounts due thereunder directly to Purchaser and/or to accept invoices thereunder directly from Seller. For the Purchaseravoidance of doubt, Seller is retaining certain rights to payment under Sections 2.1(b)(i) and 2.1(b)(ii) of this Agreement, and the Purchaser will assume, the Assigned Contracts and Orders to the extent provided in this Agreement. To the extent that the assignment of all or any portion of any Assigned Contract or Order shall require the consent of the other party thereto or any other third party that has not been obtained prior to the Closing Date, this Agreement foregoing provisions shall not constitute an agreement apply to assign any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereofamounts. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and OrdersThe relationship, if any, between the Parties established by this Section 5.8 is that still require consent; (ii) as soon as practicable after of independent contractors, and nothing in this Section 5.8 shall be construed to create a relationship of agency or partnership between the Closingparties or to create any obligation to, Reliant or provide any benefit for, any third party. Seller and the Purchaser shall cooperatesimilarly cooperate in subcontracting, in all reasonable respects, sublicensing or subleasing arrangements with respect to obtain any necessary consents to Contract that is shared between the assignment of the Assigned Contracts Business and Orders, provided that neither Party Seller's remaining business until such time as such Contract shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce separated into separate contracts for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts Business and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereunderSeller's remaining business.

Appears in 1 contract

Samples: Asset Purchase Agreement (Applix Inc /Ma/)

Consent of Third Parties. (a) On Nothing in this Agreement shall be construed as an attempt by the Closing Date, Reliant shall Seller to assign to the PurchaserBuyer pursuant to this Agreement any Contract, and permit, franchise, claim, or asset included in the Purchaser will assumePurchased Assets that is by its terms, Contract, or Law nonassignable without the Assigned Contracts and Orders consent of any other party or parties, unless such consent or approval shall have been given, or as to which all the remedies for the enforcement thereof available to the extent Seller would not by Contract pass to the Buyer as an incident of the assignments provided in for by this AgreementAgreement (a “Non-Assignable Contract”). To the extent that the assignment of all any Seller Required Consent in respect of, or any portion of any Assigned a novation of, a Non-Assignable Contract or Order shall require the consent of the other party thereto or any other third party that has not have been obtained prior to on or before the Closing Date, this Agreement the Seller Parties shall continue to use reasonable efforts (which shall not include the payment of money by the Seller Parties) to obtain any such Seller Required Consent or novation after the Closing Date until such time as it shall have been obtained, and the Seller shall cooperate with the Buyer in any economically feasible arrangement to provide that the Buyer shall receive the interest of the Seller in the benefits under such Non-Assignable Contract, including performance by the Seller as agent if economically feasible, provided that the Buyer shall undertake to pay or satisfy the corresponding Liabilities under the terms of such Non-Assignable Contract to the extent that the Buyer would have been responsible therefor if such consent or approval had been obtained. This Section 2.7 shall not be deemed to constitute an agreement to assign exclude from the Purchased Assets any such Assigned Contract or Order if an attempted assignment without any such consent would constitute Contracts as to which a breach or violation thereofSeller Required Consent may be necessary. In order, however, to seek to provide Except for the Purchaser the full realization and value of every Assigned Contract and Order of the character described obligations set forth in the immediately preceding sentence (i) at the Closingthis Section 2.7, the Purchaser and Reliant Seller Parties shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after have no Liability to the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, Buyer or Parent for failing to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereunderSeller Required Consent.

Appears in 1 contract

Samples: Asset Purchase Agreement (World Health Alternatives Inc)

Consent of Third Parties. (a) On the Closing Date, Reliant shall the Sellers will assign to the PurchaserBuyers, and the Purchaser Buyers will assume, the Assigned Contracts which are to be transferred to the Buyers as and Orders to the extent provided in this AgreementAgreement by means of the Assignment and Assumption Agreement referred to in Section 2.2. To the extent that the assignment of all or any portion of any Assigned Contract or Order shall require the consent of the other party thereto or any other third party that has not been obtained prior to the Closing Dateparty, this Agreement and the Assignment and Assumption Agreement shall not constitute an agreement to assign any such Assigned Contract or Order included in the Acquired Assets if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser Buyers the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closingsentence, the Purchaser Sellers agree that on and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant they will, at the request and under the Purchaser shall cooperatedirection of the Buyers, in the name of the Sellers or otherwise as the Buyers shall specify, take all reasonable respects, to obtain any necessary consents to actions (including the assignment appointment of the Assigned Buyers or any of their Affiliates as attorney-in-fact for the Sellers) and do or cause to be done all such things as shall in the reasonable opinion of the Buyers or its counsel be necessary or proper (a) to assure that the rights of the Sellers under such Contracts and Orders, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce preserved for the benefit of or transferred or issued to the Purchaser all claims or rights Buyers and (b) to facilitate receipt of Reliant arising the consideration to be received by the Sellers in and under every such Contract, which consideration shall be held for the applicable Assigned Contracts benefit of, and Ordersshall be delivered to, the Buyers. The Purchaser Nothing in this Section 1.3 shall perform and comply with, at in any way diminish the Purchaser’s cost, all of Reliant’s Sellers’ obligations under Section 5.5 with regard to consents and approvals and to take all such other actions prior to or at Closing as are necessary to enable the Assigned Contracts Sellers to convey or assign good and Orders as if marketable title free and clear of Encumbrances (other than Permitted Encumbrances) to all the Purchaser was Reliant thereunderAcquired Assets to the Buyers.

Appears in 1 contract

Samples: Asset Purchase Agreement (Remy International, Inc.)

Consent of Third Parties. (a) On Nothing in this Agreement shall be ------------------------ construed as an attempt by any of the Closing Date, Reliant shall Seller Parties to assign to any of the PurchaserBuyer Parties pursuant to this Agreement any Contract, and Permit, franchise, claim or asset included in the Purchaser will assumeAssets that is by its terms or by Law nonassignable without the consent of any other party or parties, unless such consent or approval shall have been given or obtained (a "Non-Assignable Contract") ----------------------- excluding, however, those Rights of Way listed on Schedule 7.12 hereof, which ------------- shall be governed by the Assigned Contracts and Orders to the extent provided in this Agreementprovisions of Section 7.12. To the extent that the assignment of all any ------------ consent in respect of, or any portion of any Assigned a novation of, a Non-Assignable Contract or Order shall require the consent of the other party thereto or any other third party that has not have been obtained prior to on or before the Closing Date, Buyer Parties may elect to proceed with the Closing, in which case, each of the Seller Parties shall continue to use Reasonable Efforts to obtain any such consent or novation after the Closing Date until such time as it shall have been obtained, and each of the Seller Parties shall cooperate with each of the Buyer Parties in any economically feasible arrangement to provide that the appropriate Buyer Party shall receive the interest of any of the Seller Parties in the benefits under such Non-Assignable Contract, including, without limitation, performance by each of the Seller Parties as agents if economically feasible. Each of the Seller Parties shall pay and discharge, and shall indemnify and hold harmless each of the Buyer Parties and their Affiliates from and against, any and all out-of- pocket costs of seeking to obtain or obtaining any such consent or novation whether before or after the Closing Date. Nothing contained in this Section ------- 4.15 or elsewhere in this Agreement shall not be deemed a waiver by any of the Buyer ---- Parties of their right to have received on the Closing Date an effective assignment of all of the Assets, nor shall this Section 4.15 or any other ------------ provision of this Agreement be deemed to constitute an agreement to assign exclude from the Assets any Non-Assignable Contracts. Notwithstanding the foregoing, in the event Seller Parties are not able to obtain a required consent with respect to a Right of Way agreement or license agreement before or after the Effective Date despite Seller Parties' Reasonable Efforts, then such a Right of Way agreement or license agreement shall be deemed a Non-Consent Right of Way (as defined in Section 7.12 of this Agreement), and the provisions of Section 7.12 shall apply to any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, agreements including the restrictions on Buyer Parties' activities regarding the Non-Consent Right of Way and Seller Parties' indemnification obligation to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (Buyer Parties with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereunderrespect thereto.

Appears in 1 contract

Samples: Facilities Sale Agreement (Transmontaigne Inc)

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Consent of Third Parties. (a) On Nothing in this Agreement shall be construed as an attempt by the Closing Date, Reliant shall Seller to assign to Purchaser pursuant to this Agreement any contract, permit, franchise, claim or asset included in the PurchaserAssets that is by its terms or by law nonassignable without the consent of any other party or parties, and unless such consent or approval shall have been given, or as to which all the Purchaser will assume, remedies for the Assigned Contracts and Orders enforcement thereof available to the extent Seller would not by law pass to Purchaser as an incident of the assignments provided in for by this AgreementAgreement (a “Non-Assignable Contract”). To the extent that the assignment of all any such consent (each a “Third-Party Consent”) in respect of, or any portion of any Assigned a novation of, a Non-Assignable Contract or Order shall require the consent of the other party thereto or any other third party that has not have been obtained prior to on or before the Closing Date, Purchaser may elect to proceed with the Closing, in which case, the Seller shall continue to use reasonable efforts to obtain any such consent or novation after the Closing Date until such time as it shall have been obtained, and the Seller shall cooperate with Purchaser in any economically feasible arrangement to provide that Purchaser shall receive the interest of the Seller in the benefits and obligations under such Non-Assignable Contract, including performance by the Seller as agent if economically feasible, provided that Purchaser shall undertake to pay, perform or satisfy the corresponding liabilities or obligations under the terms of such Non-Assignable Contract to the extent that Purchaser would have been responsible therefor if such consent or approval had been obtained. To the extent Seller requests that Purchaser assist Seller in seeking to obtain any Third Party Consent after the Closing Date, then Seller shall pay and discharge, and shall indemnify and hold harmless Purchaser and its Affiliates from and against, any and all reasonable out of pocket costs of seeking to obtain or obtaining any such Third Party Consent provided that Seller approves of such costs in writing and in advance. Nothing contained in this Section 2.5 or elsewhere in this Agreement shall not be deemed a waiver by Purchaser of its right to have received on the Closing Date an effective assignment of all of the Assets or of the covenant of the Seller to obtain all such Third-Party Consents, nor shall this Section 2.5 or any other provision of this Agreement be deemed to constitute an agreement to assign exclude from the Assets any such Assigned Contract or Order if an attempted assignment without any contracts as to which such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall may be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereundernecessary.

Appears in 1 contract

Samples: Asset Purchase Agreement (Homestore Inc)

Consent of Third Parties. (a) On the Closing Date, Reliant Sellers shall assign to the PurchaserPurchasers, and the Purchaser Purchasers will assume, the Assigned Contracts and Orders Contracts, in each case, to the extent provided permitted by, and in this Agreementaccordance with, applicable Law. To Notwithstanding anything herein to the extent that contrary, if the assignment or assumption of all or any portion of any rights or obligations under any Assigned Contract or Order shall require the consent of the any other party thereto or any other third party Third Party that has not been obtained prior to the Closing Date, this Agreement shall not constitute an agreement to assign assign, license, sublicense, lease, sublease, convey or otherwise transfer any rights or obligations under any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereofContract. In order, however, to seek to provide the Purchaser Purchasers the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence sentence: (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (iia) as soon as practicable after the Closing, Reliant Sellers and the Purchaser Purchasers shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orderslisted on Schedule 1.1(a), provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iiib) until the earliest of: (i) the date all such consents are obtained or obtained, (ii) the date all such Assigned Contracts and Orders expire or are terminated; or (iii) the date which is three (3) months from the Closing Date, Reliant Sellers and the Purchaser Purchasers shall cooperate, in all reasonable respects, to provide to the Purchaser Purchasers the benefits under the Assigned Contracts and Orders (with the Purchaser Purchasers being entitled to all the gains and responsible for all the lossesLosses, Taxes, liabilities and/or obligations Taxes and Liabilities thereunder), subject to all burdens and liabilities Liabilities thereunder. In connection with clause (iii) of this Section 2.5(a)2.6, if reasonably requested by the PurchaserPurchasers, Reliant Sellers shall use Commercially Reasonable Efforts to seek to enforce for the benefit of the Purchaser Purchasers all reasonable claims or rights of Reliant Sellers arising under the applicable Assigned Contracts at Purchasers expense; provided, that Purchasers shall indemnify Sellers and Ordersits Affiliates for any and all Losses arising in connection with any Action by a Third Party arising from, in connection with or otherwise with respect to actions taken or failed to be taken by Sellers or any of its Affiliates at Purchasers request pursuant to this Section 2.6. The Purchaser Purchasers shall perform and comply with, at the Purchaser’s Purchasers cost, all of Reliant’s Sellers obligations under the Assigned Contracts and Orders accruing on or after the Closing Date as if the Purchaser was Reliant Purchasers were Sellers thereunder.

Appears in 1 contract

Samples: Asset Purchase and Sale Agreement (Pernix Therapeutics Holdings, Inc.)

Consent of Third Parties. (a) On the Closing Date, Reliant Seller shall assign to the PurchaserBuyer, and the Purchaser will Buyer shall assume, the Assigned Contracts and Orders the Permits which are to the extent be transferred to Buyer as provided in this Agreement by means of an Assignment and Assumption Agreement. To the extent that the assignment of all or any portion of any Assigned Contract or Order Permit shall require the consent of the other party thereto or any other third party that has not been obtained prior to the Closing Dateparty, this Agreement shall not constitute an agreement to assign any such Assigned Contract or Order Permit included in the Acquired Assets if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser Buyer the full realization and value of every Assigned Contract and Order Permit of the character described in the immediately preceding sentence (i) at the Closingsentence, the Purchaser Seller agrees that on and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant Seller will, at the request and under the Purchaser shall cooperatedirection of Buyer, in the name of Seller or otherwise as Buyer shall specify, take all reasonable respects, actions (including without limitation the appointment of Buyer as attorney-in-fact for Seller to obtain any necessary consents proceed at Buyer’s sole cost and expense) and do or cause to be done all such things to the assignment extent both necessary and proper, (a) to preserve the rights of the Assigned Seller under such Contracts and Orders, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce Permits for the benefit of Buyer and (b) to facilitate receipt of the Purchaser all claims or rights of Reliant arising consideration to be received by Seller in and under every such Contract and Permit, which consideration shall be held for the applicable Assigned Contracts benefit of, and Ordersshall be delivered to, Buyer. The Purchaser Nothing in this Section 2.6 shall perform and comply with, at the Purchaser’s cost, all of Reliantin any way diminish Seller’s obligations under Section 5.5 hereof or to take all such other actions prior to or at Closing as are necessary to enable Sellers to convey or assign good and marketable title free and clear of Liens (other than Permitted Liens) to all the Assigned Contracts and Orders as if the Purchaser was Reliant thereunderAcquired Assets to Buyer.

Appears in 1 contract

Samples: Asset Purchase Agreement (Integrated Electrical Services Inc)

Consent of Third Parties. (a) On the Closing Date, Reliant the Seller shall assign to the PurchaserBuyer, and the Purchaser Buyer will assume, the Assigned Contracts and Orders the Other Assigned Contracts, to the extent provided in this Agreement. To , in each case to the extent that permitted by and in accordance with applicable Law. Notwithstanding anything to the contrary in this Agreement, if the assignment or assumption of all or any portion of any rights or obligations under any Assigned Contract or Order shall require the consent Consent of the other party thereto or any other third party that has not been obtained prior to the Closing DateDate (or otherwise are not in full force and effect) and, if applicable, the Buyer waives the condition set forth in Section 7.2(c) and the Closing occurs, then this Agreement shall not constitute an agreement to assign or otherwise transfer any rights or obligations under any such Assigned Contract or Order Other Assigned Contract if an attempted assignment or transfer without any such consent Consent would constitute a breach or violation thereofthereof (each, a "Restricted Assigned Contract"). In orderFollowing the Closing the Parties shall use their Reasonable Efforts, howeverand cooperate with each other, to seek obtain the required Consent relating to provide the Purchaser the full realization and value of every Assigned each Restricted Assumed Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after and, pending the Closingreceipt of the required Consent for the Restricted Assumed Contract, Reliant the Parties shall cooperate with each other in any reasonable and lawful arrangements designed to provide to the Purchaser Buyer the benefits of use of the Restricted Assumed Contract for its term (or any right or benefit arising thereunder, including the enforcement for the benefit of the Buyer of any and all rights of the Seller against a third party thereunder); provided, however, that, except as set forth in the Transition Services Agreement (i) the Buyer shall cooperateindemnify and hold harmless the Seller and its Affiliates for any and all Liabilities arising in connection with any action by a third party arising from, in connection with, or otherwise with respect to actions taken or failed to be taken by the Seller at the Buyer's request pursuant to this Section 1.4, and (ii) the Buyer shall reimburse the Seller for all reasonable respectsand documented out‑of‑pocket expenses incurred by the Seller arising from, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewithwith or otherwise with respect to actions taken by the Seller at the Buyer's request pursuant to this Section 1.4, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser Buyer shall perform and comply with, at the Purchaser’s Buyer's sole cost, all of Reliant’s the Seller's obligations arising after Closing, except to the extent such obligations do not constitute an Assumed Liability, under the Restricted Assigned Contracts and Orders as if the Purchaser Buyer was Reliant the Seller thereunder. Upon receipt of the required Consent for the assignment and transfer of a Restricted Assigned Contract, the Seller shall promptly assign and transfer such Restricted Assigned Contract to the Buyer, and the Buyer shall assume the obligations under such Restricted Assigned Contract pursuant to a special-purpose assignment and assumption agreement reasonably satisfactory to the Parties (which special-purpose agreement the Parties shall prepare, execute and deliver in good faith at the time of such transfer, all at no additional cost to the Buyer).

Appears in 1 contract

Samples: Asset Purchase Agreement (Post Holdings, Inc.)

Consent of Third Parties. (a) On the Closing Date, Reliant Seller shall assign to the Purchaser, and the Purchaser will assume, the Assigned Contracts and Orders Assumed Contracts, in each case to the extent provided permitted by, and in this Agreementaccordance with, applicable Law. To Notwithstanding anything herein to the extent that contrary, but subject to Purchaser’s rights under Section 4.2, if the assignment or assumption of all or any portion of any Assigned rights or obligations under any Assumed Contract or Order shall require the consent of the any other party thereto or any other third party that has not been obtained prior to the Closing Date, this Agreement shall not constitute an agreement to assign assign, license, sublicense, lease, sublease, convey or otherwise transfer any rights or obligations under any such Assigned Assumed Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereof, unless and until such consent is obtained. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Assumed Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant Sellers and the Purchaser shall cooperate, in all commercially reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orderssuch Assumed Contracts, provided that neither no Party shall be required to make any material payments or agree to any material undertakings in connection therewith, [***], and (iiiii) until the earliest of: (a) the date all such consents are obtained or obtained, (b) the date all such Assigned Assumed Contracts and Orders expire or are terminatedterminated or (c) the date which is twelve (12) months from the Closing Date, Reliant Sellers and the Purchaser shall cooperate, in all commercially reasonable respects, to provide to the Purchaser the benefits under the Assigned such Assumed Contracts and Orders (with the Purchaser being entitled to all the gains and responsible for all Losses, Taxes and Liabilities realized or incurred thereunder from the losses, Taxes, liabilities and/or obligations Closing Date until the expiration of such period if Purchaser receives the benefits thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a)4.4, if reasonably requested by the Purchaser, Reliant Sellers shall use commercially reasonable efforts to seek to enforce for the benefit of the Purchaser all reasonable claims or rights of Reliant Sellers arising under the applicable Assigned Assumed Contracts at Purchaser’s expense; provided that Purchaser shall indemnify Sellers and Orderstheir Affiliates for any and all Losses arising in connection with any action by a third party arising from, in connection with or otherwise with respect to actions taken or failed to be taken by Sellers or any of their Affiliates consistent with Purchaser’s request and direction under this Section 4.4. The Provided that Purchaser receives the benefits thereunder, Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s Sellers’ obligations incurred during such period under the Assigned such Assumed Contracts and Orders as if the Purchaser was Reliant were Seller thereunder. Promptly after any required consents to assignment are obtained for any such Assumed Contracts, Sellers shall assign and transfer such Assumed Contract to Purchaser without any further payment or consideration.

Appears in 1 contract

Samples: Asset Purchase Agreement (QLT Inc/Bc)

Consent of Third Parties. Nothing in this Agreement nor the consummation of the Transaction contemplated hereby shall be construed as an attempt or agreement to assign any Asset, including any Contract and Agreement, Permit, Real Property Lease, Personal Property Lease, certificate, approval, authorization or other right, which by its terms or by applicable law is nonassignable without the consent of a third party or a governmental body or is cancelable by a third party in the event of an assignment (a“Nonassignable Assets”) On unless and until such consent, approval or authorization, or replacement thereof, shall have been obtained. With respect to such Nonassignable Assets, Sellers shall, and shall cause their respective affiliates to, use their commercially reasonable efforts to cooperate with Buyer at its request for up to 180 days following the Closing Date in endeavoring to obtain such consents promptly; provided, however, that such efforts shall not require Sellers or any of their respective affiliates to incur any actual out-of-pocket costs payable to any third party or provide any financial accommodation or to remain secondarily or contingently liable for any Assumed Liability to obtain any such consent. Buyer and Sellers shall use their respective commercially reasonable efforts to obtain, or cause to be obtained, any consent, substitution, approval or amendment required to novate all Liabilities under any and all Contracts and Agreements or other Liabilities that constitute Assumed Liabilities or to obtain in writing the unconditional release of Sellers and their respective affiliates so that, in any such case, Buyer shall be solely responsible for such Liabilities. To the extent permitted by applicable law, in the event consents or approvals to the assignment thereof cannot be obtained, such Nonassignable Assets shall be held, as of and from the Closing Date, Reliant by Sellers or the applicable affiliate of Sellers in trust for Buyer and the covenants and obligations thereunder shall assign be performed by Buyer in Sellers’ or such affiliate’s name and all benefits and obligations existing thereunder shall be for Buyer’s account. Sellers shall take or cause to be taken at Buyer’s expense such actions in its name or otherwise as Buyer may reasonably request so as to provide Buyer with the Purchaserbenefits of the Nonassignable Assets and to effect collection of money or other consideration that becomes due and payable under the Nonassignable Assets, and Sellers or the Purchaser will assume, the Assigned Contracts and Orders applicable affiliate of Sellers shall promptly pay over to the extent provided Buyer all money or other consideration received by it in this Agreement. To the extent that the assignment respect of all or any portion Nonassignable Assets. As of any Assigned Contract or Order shall require the consent of the other party thereto or any other third party that has not been obtained prior to and from the Closing Date, this Agreement shall not constitute an agreement to assign any such Assigned Contract or Order if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, howevereach of the Sellers on behalf of itself and its affiliates authorizes Buyer, to seek to provide the Purchaser extent permitted by applicable law and the full realization and value of every Assigned Contract and Order terms of the character described Nonassignable Assets, at Buyer’s expense, to perform all the obligations and receive all the benefits of Sellers or their respective affiliates under the Nonassignable Assets and appoints Buyer its attorney-in-fact to act in its name on its behalf or in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment name of the Assigned Contracts applicable affiliate of Sellers and Orderson such affiliate’s behalf with respect thereto and Buyer agrees to indemnify and hold Sellers and their respective affiliates, provided that neither Party shall be required agents, successors and assigns harmless from and against any and all Liabilities and Losses based upon, arising out of or relating to make any payments Buyer’s performance of, or agree failure to any material undertakings in connection therewithperform, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Nonassignable Assets, except for those Material Contracts and Orders as if the Purchaser was Reliant thereunderthat are not identified on Schedule 2.13.

Appears in 1 contract

Samples: Asset Purchase Agreement (Six Flags Inc)

Consent of Third Parties. (a) On the Closing Date, Reliant Nothing in this Agreement shall be construed as an attempt by Seller to assign to Buyer pursuant to this Agreement any Contract, permit, franchise, claim or asset included in the PurchaserPurchased Assets that is by its terms or by law nonassignable without the consent of any other party or parties, and unless such consent or approval shall have been given, or as to which all the Purchaser will assumeremedies for the enforcement thereof available to Seller or Tetra, as appropriate, would not by law pass to Buyer as an incident of the Assigned Contracts and Orders to the extent assignments provided in for by this AgreementAgreement (a "Non-Assignable Contract"). To the extent that the assignment of all any Seller Required Consent in respect of, or any portion of any Assigned a novation of, a Non-Assignable Contract or Order shall require the consent of the other party thereto or any other third party that has not have been obtained prior to on or before the Closing Date, Buyer may elect to proceed with the Closing, in which case, Seller and Tetra shall each continue to use reasonable efforts to obtain any such Seller Required Consent or novation after the Closing Date until such time as it shall have been obtained, or as the Parties otherwise agree, and Seller or Tetra, as appropriate, shall cooperate with Buyer in structuring and entering into an economically feasible arrangement to provide that Buyer shall receive the interest of Seller or Tetra, as appropriate, in the benefits under such Non-Assignable Contract, including performance by Seller or Tetra, as appropriate, as agent if economically feasible, provided that Buyer shall undertake to pay or satisfy the corresponding Liabilities under the terms of such Non-Assignable Contract to the extent that Buyer would have been responsible therefor if such consent or approval had been obtained and such Liabilities shall be deemed an Assumed Liability. Seller shall pay and discharge, and shall indemnify and hold harmless Buyer and its Affiliates from and against, any and all out-of-pocket costs of seeking to obtain or obtaining any such Seller Required Consent whether before or after the Closing Date. Nothing contained in this SECTION 2.7 or elsewhere in this Agreement shall not be deemed a waiver by Buyer of its right to have received on the Closing Date an effective assignment of all of the Purchased Assets or of the covenant of Seller to use reasonable efforts obtain all of Seller Required Consents, nor shall this SECTION 2.7 or any other provision of this Agreement be deemed to constitute an agreement to assign exclude from the Purchased Assets any such Assigned Contract Contracts as to which a Seller Required Consent may be necessary. The Parties hereby acknowledge that there can be no assurances that the Seller will be able to obtain the Seller Required Consents prior to or Order if an attempted assignment without any such consent would constitute a breach or violation thereof. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereunder.

Appears in 1 contract

Samples: Asset Purchase Agreement (Tetra Technologies Inc)

Consent of Third Parties. (a) On Nothing in this Agreement shall be construed as an attempt by the Closing Date, Reliant shall Seller to assign to the PurchaserBuyer pursuant to this Agreement, and any Contract, permit, franchise, claim or asset included in the Purchaser will assumeAcquired Assets that is by its terms or by law nonassignable without the consent of any other party or parties, unless such consent or approval shall have been given, or as to which all the Assigned Contracts and Orders remedies for the enforcement thereof available to the extent Seller would not by law pass to Buyer as an incident of the assignments provided in for by this AgreementAgreement (a "Non-Assignable Contract"). To the extent that the assignment of all any Seller Required Consent in respect of, or any portion of any Assigned a novation of, a Non-Assignable Contract or Order shall require the consent of the other party thereto or any other third party that has not have been obtained prior to on or before the Closing Date, the Buyer may elect to proceed with the Closing, in which case, the Seller shall continue to use reasonable efforts to obtain any such Seller Required Consent or novation after the Closing Date until such time as it shall have been obtained, and the Seller shall cooperate with the Buyer in any economically feasible arrangement to provide that the Buyer shall receive the interest of the Seller in the benefits under such Non-Assignable Contract, including performance by the Seller as agent if economically feasible, provided that Buyer shall undertake to pay or satisfy the corresponding Liabilities under the terms of such Non-Assignable Contract to the extent that the Buyer would have been responsible therefor if such consent or approval had been obtained. Nothing contained in this SECTION 1.7 or elsewhere in this Agreement shall not be deemed a waiver by the Buyer of its right to have received on the Closing Date an effective assignment of all of the Acquired Assets or of the covenant of the Seller to obtain all of the Seller Required Consents, nor shall this SECTION 1.7 or any other provision of this Agreement be deemed to constitute an agreement to assign exclude from the Acquired Assets any such Assigned Contract or Order if an attempted assignment without any such consent would constitute Contracts as to which a breach or violation thereof. In order, however, to seek to provide the Purchaser the full realization and value of every Assigned Contract and Order of the character described in the immediately preceding sentence (i) at the Closing, the Purchaser and Reliant shall agree on a list of those Assigned Contracts and Orders, if any, that still require consent; (ii) as soon as practicable after the Closing, Reliant and the Purchaser shall cooperate, in all reasonable respects, to obtain any necessary consents to the assignment of the Assigned Contracts and Orders, provided that neither Party shall Seller Required Consent may be required to make any payments or agree to any material undertakings in connection therewith, and (iii) until all such consents are obtained or all such Assigned Contracts and Orders expire or are terminated, Reliant and the Purchaser shall cooperate, in all reasonable respects, to provide to the Purchaser the benefits under the Assigned Contracts and Orders (with the Purchaser entitled to all the gains and responsible for all the losses, Taxes, liabilities and/or obligations thereunder), subject to all burdens and liabilities thereunder. In connection with clause (iii) of this Section 2.5(a), if reasonably requested by the Purchaser, Reliant shall seek to enforce for the benefit of the Purchaser all claims or rights of Reliant arising under the applicable Assigned Contracts and Orders. The Purchaser shall perform and comply with, at the Purchaser’s cost, all of Reliant’s obligations under the Assigned Contracts and Orders as if the Purchaser was Reliant thereundernecessary.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Verticalnet Inc)

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