Abandoned Assets Clause Samples
The Abandoned Assets clause defines the process and consequences when a party leaves property or assets unattended or unclaimed for a specified period. Typically, this clause outlines the criteria for determining when assets are considered abandoned, such as a lack of communication or failure to retrieve property after notice. It may also specify the rights of the other party to dispose of, retain, or sell the abandoned assets. The core function of this clause is to provide a clear mechanism for handling unclaimed property, thereby preventing disputes and clarifying ownership or disposal rights.
Abandoned Assets. According to each applicable patent office, each of the Abandoned Assets has expired, lapsed, or been abandoned or deemed withdrawn.
Abandoned Assets. To Seller’s knowledge following reasonable due diligence and investigation, according to each applicable patent office, each of the Abandoned Assets has expired, lapsed, or been abandoned or deemed withdrawn.
Abandoned Assets. Schedule 4.9(j) contains a complete and correct list of all Abandoned Assets. Each of the Abandoned Assets has expired, lapsed, or been abandoned or deemed withdrawn.