Common use of Transfer and Assignment of GCP Assets Clause in Contracts

Transfer and Assignment of GCP Assets. Grace shall, and shall cause the applicable members of the Grace Group to, and Xxxxx Xxxx shall, and shall cause the other members of the Grace Group to, contribute, assign, transfer, convey and deliver to GCP, or the applicable GCP Designees, and GCP or such GCP Designees shall accept from Grace and the applicable members of the Grace Group, all of Grace’s and such Grace Group member’s respective direct or indirect right, title and interest in and to all GCP Assets held by Grace or a member of the Grace Group (it being understood that if any GCP Asset shall be held by a GCP Transferred Entity or Subsidiary of a GCP Transferred Entity, such GCP Asset may be considered to be so assigned, transferred, conveyed and delivered to GCP or a GCP Designee as a result of the transfer of equity interests in such GCP Transferred Entity from Grace or the applicable member(s) of the Grace Group to GCP or the applicable GCP Designee);