Common use of Mistaken Assignments and Assumptions Clause in Contracts

Mistaken Assignments and Assumptions. In addition to those transfers and assumptions accurately identified and designated by the parties to take place but which the parties are not able to effect prior to the Separation Date, there may exist (i) Assets that the parties discover were, contrary to the agreements between the parties, by mistake or omission, transferred to Palm or (ii) Liabilities that the parties discover were, contrary to the agreements between the parties, by mistake or omission, assumed by Palm. The parties shall cooperate in good faith to effect the transfer or re-transfer of such Assets, and/or the assumption or re-assumption of such Liabilities, to or by the appropriate party and shall not use the determination that remedial actions need to be taken to alter the original intent of the parties hereto with respect to the Assets to be transferred to or Liabilities to be assumed by Palm. Each party shall reimburse the other or make other financial adjustments (e.g., without limitation, cash reserves) or other adjustments to remedy any mistakes or omissions relating to any of the Assets transferred hereby or any of the Liabilities assumed hereby.

Appears in 3 contracts

Samples: General Assignment and Assumption Agreement (Palm Inc), General Assignment and Assumption Agreement (Palm Inc), General Assignment and Assumption Agreement (3com Corp)

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Mistaken Assignments and Assumptions. In addition to those transfers and assumptions accurately identified and designated by the parties to take place but which the parties are not able to effect prior to the Separation Closing Date, there may exist (i) Assets assets that the parties discover were, contrary to the agreements between the parties, by mistake or omission, transferred to Palm Subsidiary Corporation or (ii) Liabilities liabilities that the parties discover were, contrary to the agreements between the parties, by mistake or omission, assumed by PalmSubsidiary Corporation. The parties shall cooperate in good faith to effect the transfer or re-transfer of such Assetsassets, and/or the assumption or re-assumption of such Liabilitiesliabilities, to or by the appropriate party and shall not use the determination that remedial actions need to be taken to alter the original intent of the parties hereto with respect to the Assets assets to be transferred to or Liabilities liabilities to be assumed by PalmSubsidiary Corporation. Each party shall reimburse the other or make other financial adjustments (e.g., without limitation, cash reserves) or other adjustments to remedy any mistakes or omissions relating to any of the Assets assets transferred hereby or any of the Liabilities liabilities assumed hereby.

Appears in 2 contracts

Samples: Agreement of Change in Corporate Structure (Cadapult Graphic Systems Inc), Reorganization Agreement (United Heritage Corp)

Mistaken Assignments and Assumptions. In addition to those transfers ------------------------------------ and assumptions accurately identified and designated by the parties to take place but which the parties are not able to effect prior to the Separation Date, there may exist (i) Assets that the parties discover were, contrary to the agreements between the parties, by mistake or omission, transferred to Palm MMI or (ii) Liabilities that the parties discover were, contrary to the agreements between the parties, by mistake or omission, assumed by PalmMMI. The parties shall cooperate in good faith to effect the transfer or re-transfer of such Assets, and/or the assumption or re-re- assumption of such Liabilities, to or by the appropriate party and shall not use the determination that remedial actions need to be taken to alter the original intent of the parties hereto with respect to the Assets to be transferred to or Liabilities to be assumed by PalmMMI. Each party shall reimburse the other or make other financial adjustments (e.g., without limitation, cash reserves) or other adjustments to remedy any mistakes or omissions relating to any of the Assets transferred hereby or any of the Liabilities assumed hereby.

Appears in 2 contracts

Samples: General Assignment and Assumption Agreement (Millipore Corp /Ma), General Assignment and Assumption Agreement (Millipore Microelectronics Inc)

Mistaken Assignments and Assumptions. In addition to those transfers and assumptions accurately identified and designated by the parties to take place but which the parties are not able to effect prior to the Separation Date, there may exist (i) Assets that the parties discover were, contrary to the agreements between the parties, by mistake or omission, transferred to Palm Luminent or (ii) Liabilities that the parties discover were, contrary to the agreements between the parties, by mistake or omission, assumed by PalmLuminent. The parties shall cooperate in good faith to effect the transfer or re-transfer of such Assets, and/or the assumption or re-assumption of such Liabilities, to or by the appropriate party and shall not use the determination that remedial actions need to be taken to alter the original intent of the parties hereto with respect to the Assets to be transferred to or Liabilities to be assumed by PalmLuminent. Each party shall reimburse the other or make other financial adjustments (e.g., without limitation, cash reserves) or other adjustments to remedy any mistakes or omissions relating to any of the Assets transferred hereby or any of the Liabilities assumed hereby.

Appears in 2 contracts

Samples: General Assignment and Assumption Agreement (Luminent Inc), General Assignment and Assumption Agreement (Luminent Inc)

Mistaken Assignments and Assumptions. In addition to those transfers and assumptions accurately identified and designated by the parties to take place but which the parties are not able to effect prior to the Separation Date, there may exist (i) Assets that the parties discover were, contrary to the agreements between the parties, by mistake or omission, transferred to Palm PalmSource or (ii) Liabilities that the parties discover were, contrary to the agreements between the parties, by mistake or omission, assumed by PalmPalmSource. The parties shall cooperate in good faith to effect the transfer or re-transfer of such Assets, and/or the assumption or re-assumption of such Liabilities, to or by the appropriate party and shall not use the determination that remedial actions need to be taken to alter the original intent of the parties hereto with respect to the Assets to be transferred to or Liabilities to be assumed by PalmPalmSource. Each party shall reimburse the other or make other financial adjustments (e.g., without limitation, cash reserves) or other adjustments to remedy any mistakes or omissions relating to any of the Assets transferred hereby or any of the Liabilities assumed hereby.

Appears in 1 contract

Samples: General Assignment and Assumption Agreement (Palm Inc)

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Mistaken Assignments and Assumptions. In addition to those transfers and assumptions accurately identified and designated by the parties to take place but which the parties are not able to effect prior to the Separation Date, there may exist (i) Assets that the parties discover were, contrary to the agreements between the parties, by mistake or omission, transferred to Palm SNAP or (ii) Liabilities that the parties discover were, contrary to the agreements between the parties, by mistake or omission, assumed by PalmSNAP. The parties shall cooperate in good faith to effect the transfer or re-transfer of such Assets, and/or the assumption or re-assumption of such Liabilities, to or by the appropriate party and shall not use the determination that remedial actions need to be taken to alter the original intent of the parties hereto with respect to the Assets to be transferred to or Liabilities to be assumed by PalmSNAP. Each party shall reimburse the other or make other financial adjustments (e.g., without limitation, cash reserves) or other adjustments to remedy any mistakes or omissions relating to any of the Assets transferred hereby or any of the Liabilities assumed hereby.

Appears in 1 contract

Samples: General Assignment and Assumption Agreement (Snap Appliances Inc)

Mistaken Assignments and Assumptions. In addition to those transfers and assumptions accurately identified and designated by the parties to take place but which the parties are not able to effect prior to the Separation Date, there may exist (i) Assets that the parties discover were, contrary to the agreements between the parties, by mistake or omission, transferred to Palm Optical Access or (ii) Liabilities that the parties discover were, contrary to the agreements between the parties, by mistake or omission, assumed by PalmOptical Access. The parties shall cooperate in good faith to effect the transfer or re-transfer of such Assets, and/or the assumption or re-assumption of such Liabilities, to or by the appropriate party and shall not use the determination that remedial actions need to be taken to alter the original intent of the parties hereto with respect to the Assets to be transferred to or Liabilities to be assumed by PalmOptical Access. Each party shall reimburse the other or make other financial adjustments (e.g., without limitation, cash reserves) or other adjustments to remedy any mistakes or omissions relating to any of the Assets transferred hereby or any of the Liabilities assumed hereby.

Appears in 1 contract

Samples: General Assignment and Assumption Agreement (Optical Access Inc)

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