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

• With respect to any such Non-Assignable Contract as to which the necessary approval or consent for the assignment or transfer to Acquiror is obtained following the IP Assignment Date, SLA shall transfer such Non- Assignable Contract to Acquiror by execution and delivery of an instrument of conveyance reasonably satisfactory to Acquiror within five (5) Business Days following receipt of such approval or consent.

• SLA shall not take any action or suffer any omission that could limit, restrict or terminate in any material respect the benefits to Acquiror of such Assumed or Non-Assignable Contract unless, in good faith and after consultation with and prior written notice to Acquiror, SLA is (i) ordered to do so by a Governmental Entity of competent jurisdiction or (ii) otherwise required to do so by Law.

• If the Bankruptcy Court, or another court of competent jurisdiction, determines that a contract listed on Schedule 10.1 hereto is unable to be assumed and/or assumed and assigned pursuant to section 365 of the Bankruptcy Code (a “Non-Assignable Contract”), then the Plan shall not constitute any Debtor’s agreement to assign such Non-Assignable Contract if such attempted assignment would be unlawful.

• Notwithstanding any provision herein to the contrary, on the Effective Date, the Debtors shall retain all rights to the Non-Assignable Contracts and may use their reasonable best efforts to obtain any consent, approval or amendment, if any, required to novate, assume and/or assume and assign any Non-Assignable Contract.

• As between Sellers and Purchaser, Purchaser will be deemed to have assumed Sellers’ performance of obligations for any such Non-Assignable Contract as an Assumed Liability provided Sellers have made the benefits of such Non-Assignable Contract available to Purchaser.

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 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 Sections 9-406 through 409 of the UCC).

Non-Assignable Contract has the meaning set forth in Section 2.11.

Non-Assignable Contract means any Contract identified as such in the Asset List.

Non-Assignable Contract shall have the meaning assigned in Section 3.5.

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 a Contract that contains a prohibition on assignment to, among other Persons, Affiliates of the Originator party thereto.