CSC Designated Contract definition
Examples of CSC Designated Contract in a sentence
It is understood that, from and after the Commencement Date, CSC, as a Subcontractor or delegate, shall be and remain financially and operationally responsible for such CSC Designated Contract as Sears’ agent pursuant to Section 13.2(e) (Limited Agency) and, if applicable, the underlying Acquired Asset shall not be transferred to CSC, but instead shall be considered part of the CSC Managed Systems.
With respect to each CSC Designated Contract requiring a Required Consent for assignment to CSC, CSC shall use commercially reasonable efforts to cause the applicable Third Party to enter into a mutually satisfactory novation agreement among such Third Party, Sears and CSC evidencing the assignment and assumption by CSC of Sears’ obligations and the release of Sears as provided for in this Agreement.
CSC shall use all commercially reasonable efforts to satisfy the consent, notice or other prerequisites to assignment and, upon CSC doing so, the CSC Designated Contract and, if applicable, the underlying Acquired Asset shall immediately be assigned and transferred to and assumed by CSC (and shall thereafter no longer be part of the CSC Managed Systems).
If, after CSC using commercially reasonable efforts for a reasonable period of time, a CSC Designated Contract cannot be assigned to CSC without breaching its terms or otherwise adversely affecting the rights or obligations of Sears or CSC thereunder, the Parties shall take such actions and execute and deliver such documents as may be necessary to cause the Parties to realize the practical effects of the allocation of responsibilities intended to be effected by this Agreement.