Post-Effective Time Services Clause Samples
The "Post-Effective Time Services" clause defines the obligations and services that one party must provide to the other after a specific event or transaction has become effective, such as the closing of a merger or acquisition. Typically, this clause outlines the nature, duration, and scope of support or transitional services—such as IT support, accounting, or administrative assistance—that the seller or another party will continue to provide to the buyer for a set period. Its core practical function is to ensure business continuity and a smooth transition by clearly specifying post-closing support, thereby minimizing operational disruptions and misunderstandings.
Post-Effective Time Services. The Parties recognize that legal and other professional services will be provided following the Effective Time to each of ▇▇▇▇▇▇▇ and Veralto. The Parties further recognize that certain of such post-Effective Time services will be rendered solely for the benefit of ▇▇▇▇▇▇▇ or Veralto, as the case may be, while other such post-Effective Time services may be rendered with respect to claims, proceedings, litigation, disputes, or other matters which involve both ▇▇▇▇▇▇▇ and Veralto. With respect to such post-Effective Time services and related Privileged Information, the Parties agree as follows:
(i) All Privileged Information relating to any claims, proceedings, litigation, disputes or other matters which involve both ▇▇▇▇▇▇▇ and Veralto shall be subject to a shared Privilege among the Parties involved in the claims, proceedings, litigation, disputes, or other matters at issue; and
(ii) Except as otherwise provided in Section 6.6(b)(i), Privileged Information relating to post-Effective Time services provided solely to one of ▇▇▇▇▇▇▇ or Veralto shall not be deemed shared between the Parties; provided, that the foregoing shall not be construed or interpreted to restrict the right or authority of the Parties (x) to enter into any further agreement, not otherwise inconsistent with the terms of this Agreement, concerning the sharing of Privileged Information or (y) otherwise to share Privileged Information without waiving any Privilege which could be asserted under applicable Law.