The Transfer. 2.1 Effective as of the Transfer Time, Reuters hereby sells and transfers and the Company hereby purchases all of Reuters and its applicable affiliates’ right, title and interest in the Intellectual Property. 2.2 The price for the sale and transfer in Section 2.1 shall be the sum of $350,000, as outlined in Schedule A (the “Consideration”). 2.3 If any sales tax, value added tax or other transfer tax is properly chargeable in respect of the sale and purchase in Section 2.1, the Company shall pay to Reuters the amount of such tax in addition to and at the same time as the Consideration. Reuters will issue to the Company a proper tax invoice in respect thereof. 2.4 THE COMPANY HEREBY ACKNOWLEDGES THAT REUTERS MAKES NO REPRESENTATION OR WARRANTY TO THE COMPANY UNDER THIS AGREEMENT, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE INTELLECTUAL PROPERTY, AND THAT THE ABOVE SALE AND TRANSFER IS MADE TO THE COMPANY ON AN “AS IS” BASIS.
Appears in 3 contracts
Sources: Intellectual Property Transfer Agreement, Intellectual Property Transfer Agreement (Instinet Group Inc), Intellectual Property Transfer Agreement (Instinet Group Inc)