ASC Contracts definition
Examples of ASC Contracts in a sentence
If, at any time after the Closing Date, any Autodata Party or DealerTrack shall receive any amounts payable to another Party pursuant to any of the ASC Contracts, Autodata Contracts or DealerTrack Contracts or other rights to payment under any Operations Documents, then such Party shall hold such funds in trust for, and shall promptly remit such funds to, the Partnership immediately upon receipt thereof.
Section 2.9 of the Disclosure Schedules includes a list of the FSM Assumed Contracts, including the FSM ASC Contracts and the FSM Sublease.
At the Closing, FSM shall assign to Buyer or an Affiliate of Buyer (a) all FSM Assumed Contracts other than the FSM ASC Contracts and the FSM Sublease pursuant to the ▇▇▇▇ of Sale and Assignment and Assumption Agreement, (b) all FSM ASC Contracts pursuant to the Assignment and Assumption Agreement-FSM ASC Contracts, and (c) the FSM Sublease pursuant to the Assignment of FSM Sublease.
Assuming that the ASC Contracts and the Autodata Contracts are the legal, valid and binding agreements of the other parties thereto, such Contracts are in full force and effect with respect to the Autodata Parties (prior to the contribution thereof to the Partnership) and the Partnership (after contribution thereof to the Partnership).
There are no letters of credit, performance bonds, or other types of performance security currently required to be posted and in full force and effect under the Scheduled Contracts, the AMM Contracts or the ASC Contracts, other than those listed on Section 3.16 of the Apex Disclosure Schedule (the “Performance Security”).
There are no pending renegotiations of or outstanding rights to renegotiate any material amounts paid to or payable by ASC or Autodata (prior to the contribution thereof to the Partnership) and the Partnership (after contribution thereof to the Partnership) under the ASC Contracts or Autodata Contracts, respectively, and no Person has made any written demand for such renegotiation.