Common use of Wrong Pocket Assets Clause in Contracts

Wrong Pocket Assets. (a) If any Acquired Assets remains vested in any Seller or any of their respective Affiliates following Closing, such Seller shall (or shall cause its applicable Affiliate to) transfer such Acquired Asset as soon as reasonably practicable to the Buyer Parent or its designee for no consideration (it being acknowledged and agreed that the Buyer shall have already paid good consideration for all Acquired Assets by paying the Global Purchase Price). The Seller shall notify the Buyer as soon as reasonably practicable upon becoming aware that that there are any Acquired Assets in its possession or control or that of any Affiliate of any Seller.

Appears in 3 contracts

Samples: Master Purchase Agreement (Teva Pharmaceutical Industries LTD), Master Purchase Agreement (Allergan PLC), Master Purchase Agreement (Warner Chilcott LTD)

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Wrong Pocket Assets. (a) If Subject to Section 1.5, if any Acquired Assets Asset remains vested in any Seller or any of their respective its Affiliates following Closing, such Seller shall (or shall cause its applicable Affiliate to) transfer such Acquired Asset as soon as reasonably practicable to the Buyer Parent or its designee for no additional consideration (it being acknowledged and agreed that the Buyer shall have already paid good consideration for all Acquired Assets by paying the Global Purchase PriceClosing Payment). The Seller shall notify the Buyer as soon as reasonably practicable upon becoming aware that that there are any Acquired Assets in its possession or control or that of any Affiliate of any Seller.

Appears in 1 contract

Samples: Asset Purchase and Sale Agreement (Lexicon Pharmaceuticals, Inc.)

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Wrong Pocket Assets. (a) If Subject to Section 2.5, if any Acquired Assets Asset remains vested in any Seller or any of their respective Affiliates following Closing, such Seller shall (or shall cause its applicable Affiliate to) transfer such Acquired Asset as soon as reasonably practicable to the Buyer Parent or its designee for no additional consideration (it being acknowledged and agreed that the Buyer shall have already paid good consideration for all Acquired Assets by paying the Global Purchase Price). The Seller Parent shall notify the Buyer as soon as reasonably practicable upon becoming aware that that there are any Acquired Assets in its possession or control or that of any Affiliate of any Seller.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Medicines Co /De)

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