Assigned Contracts definition
Examples of Assigned Contracts in a sentence
As of the Closing Date, Enodia will be permitted to exercise all of its rights under the Assigned Contracts without the payment of any additional amounts or consideration.
The transfer of the Assigned Contracts pursuant to this Agreement shall not include the assumption of any Liability related to the Assigned Assets unless Enodia expressly assumes that Liability pursuant to Section 2.3(a) below.
Seller and, to the Knowledge of Seller, each other party thereunder, has performed all obligations required to be performed by such Party under the Assigned Contracts and is not in breach or default under any Assigned Contract and, to the Knowledge of Seller, no other party to any Assigned Contract is (or will be, with or without the lapse of time or the giving of notice, or both) in breach or default thereunder.
Seller has not received any notice of the intention of any party to terminate any Assigned Contract except for those Assigned Contracts that have expired or terminated in the ordinary course of business.
At the Closing, the sale, conveyance, assignment and transfer of the Assigned Contracts will be effected pursuant to the Assignment and Assumption Agreement, the assignment of the Assigned Patents will be perfected pursuant to the Intellectual Property Assignments.