Transferring Assets Clause Samples
The "Transferring Assets" clause defines the terms and procedures for moving ownership or control of assets from one party to another under the agreement. It typically outlines which assets are subject to transfer, the timing and method of transfer, and any conditions or approvals required before the transfer can occur. This clause ensures that both parties understand their rights and obligations regarding asset transfers, thereby reducing the risk of disputes and providing a clear framework for the orderly transition of assets.
Transferring Assets. Subject to Section 5.5, on the Effective Date, in accordance with the terms and conditions of this Agreement, for the consideration stated in Section 8, AstraZeneca shall and hereby does, and shall cause its respective Affiliates to, grant, sell, transfer, convey, assign and deliver to Mereo, and Mereo shall accept from AstraZeneca or any of its respective Affiliates, as of the Effective Date, all right, title and interest of AstraZeneca and any of its respective Affiliates to the Transferring Assets.
Transferring Assets. 8.3.1 The Council shall transfer the Transferring Assets to the Company for use in the provision of the Services on the following terms:
(a) the price payable by the Company for the Transferring Assets shall be £59,088 (plus VAT). Within five (5) Business Days of receipt by the Company of a VAT invoice, the Company shall pay the Council the sum payable for the Transferring Assets; and
(b) the Council shall forthwith transfer to the Company legal and beneficial title to all Transferring Assets and shall forthwith release to the Company the control of all such Transferring Assets.
8.3.2 Neither the Council, its agents nor employees shall be liable to the Company in contract, tort (including negligence or breach of statutory duty), statute or otherwise as a result of any inaccuracy, omission, unfitness for any purpose or inadequacy of any kind whatsoever of the Transferring Assets.
Transferring Assets. The Service Provider’s liability to the Service Recipient for a failure to perform any Service shall be reduced, to the extent that the failure relates to or is caused by (directly or indirectly) any asset, including any physical asset, IT System, inventory and contract, in the possession (whether the physical possession or legal ownership) of the Service Recipient, including as a result of any transfer contemplated or performed in connection with Project Moonstone.
Transferring Assets. If the Resident transfers assets, this transfer may disqualify the Resident for Medicaid eligibility and/or cause a discontinuance of the Resident’s Medicaid benefits. The Resident acknowledges that this may result in discharge of the Resident due to non-payment.
Transferring Assets. Subject to Clause 3.6, the provisions in Schedule 9 shall apply in respect of the consideration for any Transferring Assets.
Transferring Assets the assets transferring from the Service Provider to the Replacement Supplier
Transferring Assets. The Partnership shall not transfer any asset to a Partner or any Affiliate of a Partner except pursuant to Section 9 herein or Exhibit A.