Transfer of the Non-Profit Corporation’s Tangible and Intangible Assets and Personnel Sample Clauses

Transfer of the Non-Profit Corporation’s Tangible and Intangible Assets and Personnel. ADCOM, the Non-Profit Corporation and their staff shall take all actions necessary to sell, transfer and convey all right title and interest in and to all real property, fixtures, facilities, vehicles, equipment, furniture and appliances, financial accounts and monies (excepting such financial accounts and monies as the Board of Directors of the Non-Profit Corporation may need, in its sole discretion, to continue in existence), and all other tangible and intangible assets of any type and nature whatsoever (collectively, "Non-Profit Corporation Assets") to ADCOM. ADCOM, the Non-Profit Corporation and their staff also shall take all actions necessary to transfer all individuals who are employed by the Non-Profit Corporation on the Effective Date (“Transferred Personnel”) to ADCOM in the same or comparable positions as they hold at the Non-Profit Corporation as of the date of the transfer. The Non-Profit Corporation President and Secretary/Treasurer, the ADCOM President and Secretary/Treasurer, and the Executive Director are authorized to execute such documents as are necessary or appropriate to accomplish the transfer of the Non-Profit Corporation Assets and Transferred Personnel to ADCOM, and to substitute ADCOM for the Non-Profit Corporation as the signatory on all deeds, contracts, agreements, leases, forms, applications, and all other documents of any type or nature whatsoever.
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Related to Transfer of the Non-Profit Corporation’s Tangible and Intangible Assets and Personnel

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