Exempt Assets Clause Samples
The Exempt Assets clause defines specific assets that are excluded from certain claims, liabilities, or enforcement actions under an agreement. Typically, this clause lists particular property or categories of assets—such as personal belongings, retirement accounts, or tools of trade—that cannot be seized or used to satisfy debts or obligations. By clearly identifying which assets are protected, the clause ensures that parties retain essential property and provides certainty about what is shielded from creditors or other claimants.
Exempt Assets. The Company and its Subsidiaries are engaged in the business of developing, selling and financing time share units; the Company and its Subsidiaries manage time share units exclusively for resorts that have been deeded over to the Clubs or in which the Clubs own timeshare units; the Company and its Subsidiaries own undeveloped property that has not generated revenues of $5,000,000 or more in the last three (3) years; and the fair market value of any assets of the Company and its Subsidiaries (other than assets attributed to or engaged in the foregoing activities) does not exceed $50,000,000. The Company acknowledges that Parent and Merger Sub are entering into this Agreement in reliance upon the valuation of the Company's and its Subsidiaries' assets provided by the Company as set forth in this Section 3.9.
Exempt Assets. To the Knowledge of the IPP Parties, the aggregate fair market value of the Assets, excluding the Properties, Easements and Contracts, does not exceed $15,000,000.00.
Exempt Assets. 18 Section 5.20 Plugging Obligations................................... 18 Section 5.21 Operations after Effective Time........................ 18 Section 5.22 Preferential Rights to Purchase........................ 18
Exempt Assets. Section 6.10
Exempt Assets. The fair market value of any assets of the Company and its Subsidiaries (other than Exempt Assets) does not exceed $50 million. For purposes of this Agreement, "Exempt Assets" shall mean assets, which are exempted pursuant to 16 C.F.R. ss.802.02 of the regulations under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended. The ▇▇▇p▇▇▇ ▇▇▇▇▇▇▇▇dges that Parent and the Purchaser are entering into this Agreement in reliance upon the valuation of the Company's and its Subsidiaries' assets provided by the Company as set forth in this Section 3.9.
Exempt Assets. The Properties constitute exempt assets for purposes of the ▇▇▇▇-▇▇▇▇▇-▇▇▇▇▇▇ Antitrust Improvements Act of 1976 and Rules 802.2(h) and 802.5 thereunder.
Exempt Assets. To Seller's Knowledge, the aggregate fair market value of the Assets, excluding the Oil and Gas Properties, Lease Easements, the Mineral Contracts, the Lease Contracts, the Limited Partner Interest and the Program Interests, does not exceed $15,000,000.
Exempt Assets. 21 SECTION 5.20 Plugging Obligations............................................................................ 21 SECTION 5.21 Operations after Effective Time................................................................. 21 SECTION 5.22 Gas Balancing, Take or Pay, Allowables.......................................................... 21 SECTION 5.23 Tax Partnerships................................................................................ 22 SECTION 5.24
Exempt Assets. 23 Section 3.10 Contracts ...........................................23 Section 3.11 Absence of Undisclosed Liabilities ..................25 Section 3.12 Licenses; Compliance with Laws ......................25 Section 3.13