Common use of Prior Transfer Clause in Contracts

Prior Transfer. “Prior Transfer” means (i) a transfer prior to the date of this Agreement of any Seahawk Asset contained in the Pride Group to the Seahawk Group, (ii) an assumption prior to the date of this Agreement by the Seahawk Group of any of the Seahawk Liabilities, (iii) a transfer prior to the date of this Agreement of any Pride Asset contained in the Seahawk Group to the Pride Group, or (iv) an assumption prior to the date of this Agreement by the Pride Group of any of the Pride Liabilities that are contained in the Seahawk Group.