Common use of Transition Team Clause in Contracts

Transition Team. Following the execution of this Agreement, the Parties shall create a transition team with representatives of Buyer and Parent and shall request the participation of representatives of Colt to participate in the same. Each of the Parent, Buyer and, to the extent of its participation, Colt will appoint a transition coordinator. Each coordinator will be responsible for ensuring that the appropriate resources from their organization will be available to participate in meetings. The transition team shall: a. Identify activities that should be subject to the Transition Services Agreement including activities currently performed by third party providers. b. Identify assets in the Retained Subsidiaries or the PLG Subsidiaries that should be in the other entity. c. Identify all IT licenses, including license agreements, etc. d. Identify licenses that should be assigned to the Retained Subsidiaries or the PLG Subsidiaries or which may need to be shared or a substitute license obtained. e. Identify leases that should be assigned or sublet in whole or in part to the Retained Subsidiaries or the PLG Subsidiaries. f. Identify employees employed by the Retained Subsidiaries or the PLG Subsidiaries that, because they have performed functions for the other business should be employed by the other business. g. Identify data used by the Retained Subsidiaries or the PLG Subsidiaries that is physically or logically located at the other business’s site. h. Identify the trademarks, copyrights, domain names and patents used by the Retained Subsidiaries or the PLG Subsidiaries.