Non-Assignable Contract definition
Non-Assignable Contract means any agreement, contract or license to which any Grantor is a party that by its terms purports to restrict or prevent the assignment or granting of a security interest therein (either by its terms or by any federal or state statutory prohibition or otherwise irrespective of whether such prohibition or restriction is enforceable under Section 9-406 through 409 of the UCC).
Non-Assignable Contract shall have the meaning set forth in Section 2.5(a).
Non-Assignable Contract is defined in Section 2.5.
Examples of Non-Assignable Contract in a sentence
Upon receipt of any such Consent, Seller shall promptly assign the applicable Non-Assignable Contract to Buyer at no additional cost.
Following the Closing, Seller shall (a) hold each Non-Assignable Contract in trust for the sole benefit of Buyer, (b) continue to perform all obligations under each Non-Assignable Contract as directed by B▇▇▇▇, (c) pass through to Buyer all economic benefits received by Seller under each Non-Assignable Contract, and (d) use commercially reasonable efforts to obtain the Consent necessary to assign each Non-Assignable Contract to Buyer as promptly as practicable.
More Definitions of Non-Assignable Contract
Non-Assignable Contract means any Contract that by its terms purports to restrict or prevent the assignment thereof or granting of a security interest therein (either by its terms or by any federal or state statutory prohibition or otherwise, irrespective of whether such prohibition or restriction is enforceable under Sections 9-407 through 409 of the New York UCC).
Non-Assignable Contract means any Contract which would be assigned to the Purchaser under this Agreement but in respect of which an assignment or attempted assignment would constitute a breach thereof or would contravene any applicable Law.
Non-Assignable Contract means any Contract identified as such in the Asset List.
Non-Assignable Contract means a Contract that contains a prohibition on assignment to, among other Persons, Affiliates of the Originator party thereto.
Non-Assignable Contract shall have the meaning set forth in the Separation and Distribution Agreement.
Non-Assignable Contract means any of the Contracts, Leases, Equipment Leases, Shared Contracts, Warranty Rights or Transferable Licences included in the Purchased Assets:
Non-Assignable Contract see Section 1(b) of this Agreement..