SportRack definition
SportRack means SportRack, LLC, formerly known as Advanced Accessory Systems, LLC.
SportRack means SportRack, LLC, a Delaware limited liability company and a Subsidiary of the Company.
SportRack division in the business (the "Business") of designing, engineering, manufacturing, marketing, selling and distributing automotive roof rack systems, and vehicular accessories (such as bike racks, ski racks and surfboard carriers) and rear carriers and shuttles and related rear carrier and shuttle systems (to the extent comprising part of the "SportRack" division). The parties hereto desire that the Seller sell, transfer, convey and assign to the Buyer, and that Buyer purchase from Seller, substantially all of the assets, properties, interests in properties and rights of the Seller used primarily in the Business (other than the Excluded Assets) and that the Buyer purchase and acquire the same and assume certain specified liabilities and obligations of the Seller relating to the Business, in each case, upon the terms and subject to the conditions hereinafter set forth.