Designated Purchaser definition
Examples of Designated Purchaser in a sentence
Upon the receipt by any Seller of any such insurance proceeds or condemnation proceeds from any Excluded Insurance Policy relating to any Purchased Asset or Assumed Liability, such Seller shall as promptly as practicable (but, in any event, within three (3) Business Days) pay or cause to be paid to Buyer (or a Designated Purchaser) such proceeds, net of any unreimbursed out-of-pocket costs or expenses incurred in the recovery thereof.
After the Closing, any reference to Buyer in this Agreement in respect of any purchase, assumption or employment referred to in this Agreement shall include reference to the appropriate Designated Purchaser.
Between the date hereof and the Closing, Buyer and Sellers shall work in good faith and take all actions necessary or appropriate to cause the sponsorship of and the assets maintained pursuant to or in connection with the Assumed Plans to transfer to Buyer or its Designated Purchaser as of Closing, including securing written consents as necessary from all relevant third parties at or prior to the Closing, and Buyer shall cooperate in signing any documents or agreements in connection therewith.
The designation of a Designated Purchaser in accordance with this Section 9.6.2 shall be made by Buyer by way of a written notice to be delivered to Sellers in advance of the Closing (email to counsel being sufficient).