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"against-third-parties", "type": "clause", "offset": [4176, 4197]}, {"key": "prior-to-the", "type": "clause", "offset": [4325, 4337]}, {"key": "all-other-documents", "type": "clause", "offset": [4473, 4492]}, {"key": "business-records", "type": "clause", "offset": [4508, 4524]}, {"key": "tax-returns", "type": "clause", "offset": [4537, 4548]}, {"key": "the-purchased-assets", "type": "clause", "offset": [4617, 4637]}, {"key": "personnel-records", "type": "clause", "offset": [4672, 4689]}, {"key": "consent-of", "type": "clause", "offset": [4746, 4756]}, {"key": "required-by", "type": "definition", "offset": [4817, 4828]}, {"key": "applicable-law", "type": "clause", "offset": [4829, 4843]}, {"key": "transfer-of", "type": "definition", "offset": [4867, 4878]}, {"key": "assets-of-the-company-and-its-subsidiaries", "type": "clause", "offset": [4956, 4998]}, {"key": "excluded-assets", "type": "clause", "offset": [5072, 5087]}, {"key": "the-seller-parties", "type": "clause", "offset": [5185, 5203]}, {"key": "purchaser-parties", "type": "clause", "offset": [5212, 5229]}, {"key": "understand-and-agree-that", "type": "clause", "offset": [5240, 5265]}, {"key": "all-capital-stock", "type": "clause", "offset": [5563, 5580]}, {"key": "other-equity-interests", "type": "definition", "offset": [5584, 5606]}, {"key": "any-person", "type": "definition", "offset": [5610, 5620]}, {"key": "all-rights", "type": "clause", "offset": [5627, 5637]}, {"key": "excluded-liabilities", "type": "definition", "offset": [5651, 5671]}, {"key": "maintenance-agreements", "type": "definition", "offset": [5687, 5709]}, {"key": "used-exclusively", "type": "definition", "offset": [7086, 7102]}, {"key": "pursuant-to-section", "type": "definition", "offset": [7212, 7231]}], "samples": [{"hash": "l361msHS4g5", "uri": "/contracts/l361msHS4g5#asset-purchase", "label": "Asset Purchase Agreement (Sungard Capital Corp Ii)", "score": 22.6043796539, "published": true}, {"hash": "k0rrf83kdWM", "uri": "/contracts/k0rrf83kdWM#asset-purchase", "label": "Asset Purchase Agreement (GL Trade Overseas, Inc.)", "score": 22.6043796539, "published": true}], "snippet": "(a) Upon the terms and subject to the conditions set forth in this Agreement, at the Asset Closing, the Company shall, and shall cause its Subsidiaries to, sell, assign, transfer, convey and deliver to Purchaser, and Purchaser shall, and/or shall cause its Subsidiaries to, purchase, acquire and accept from the Company and its Subsidiaries, free and clear of all Liens other than Permitted Liens, all of the Company\u2019s and such Subsidiaries\u2019 respective right, title and interest in and to the following assets and all of the goodwill associated therewith (in each case after taking into account the effects of, and assuming the completion of, the Restructuring), as the same shall exist on the Asset Closing Date (collectively, the \u201cPurchased Assets\u201d):\n(i) the Owned Real Property (as defined in the Merger Agreement) and any fixtures, machinery, equipment and tangible personal property attached to or located on the Owned Real Property that relate to or are used or held for use in connection with the SMS Business;\n(ii) all inventories (including raw materials, purchased goods, parts, containers, recycled materials, work in process, supplies, finished goods and demo and consignment inventory) on the books of the Company or its Subsidiaries;\n(iii) all lists of current, former and prospective customers, suppliers, resellers and vendors, customers\u2019 files, credit information, parts lists, business correspondence, business lists, brochures, manuals, sales literature, promotional literature and other selling, advertising and marketing materials and all other similar assets and rights related to the conduct of the SMS Business;\n(iv) all of the machinery, equipment, tools, spare parts, all transportation and office equipment, computers, furniture, furnishings, vehicles, and other fixed assets and personal property owned by the Company and its Subsidiaries and related to, used or held for use in connection with the SMS Business (including any and all hard drives, disks, diskettes, tapes or other tangible media), and in the case of any such items which are leased or licensed by the Company or its Subsidiaries, the Company\u2019s and such Subsidiaries\u2019 leasehold or license interest therein;\n(v) all Contracts to which any of the Company or its Subsidiaries are a party to the extent they are related to the SMS Business, including the SMS Agreements (collectively, the \u201cAssumed Contracts\u201d);\n(vi) all Intellectual Property owned by the Company and its Subsidiaries and that is related to the SMS Business and was used, is used or is held for use in the SMS Business (the \u201cTransferred Business Intellectual Property\u201d);\n(vii) all information technology systems, network or telecommunications equipment and software, desktop computer software, accounting, finance and database software, general software development and control systems, and tools, environments and other general information technology functionality, in each case that is used in the operation of the SMS Business;\n(viii) all Permits used in the SMS Business;\n(ix) all accounts receivable, notes receivable and other rights to payment of the Company or any of its Subsidiaries to the extent related to the SMS Business, together with any unpaid interest or fees accrued thereon or other amounts due with respect thereto, and any claim, remedy or other right related to any of the foregoing;\n(x) all deposits to the extent made by the Company or its Subsidiaries in connection with the SMS Business, and any claim, remedy or other right related to any of the foregoing, in each case to the extent associated with Assumed Contracts or other Purchased Assets, or related to other Assumed Liabilities;\n(xi) all prepaid assets paid by the Company or its Subsidiaries to the extent in connection with the SMS Business, and any claim, remedy or other right related to any of the foregoing, in each case to the extent associated with Assumed Contracts or other Purchased Assets, or related to Assumed Liabilities;\n(xii) all causes of action, claims, demands, rights (including rights under or pursuant to warranties, representations and guarantees made by suppliers, manufacturers or contractors) and privileges against third parties, whether liquidated or unliquidated, fixed or contingent, \u2587\u2587\u2587\u2587\u2587\u2587 or inchoate that relate to events or breaches occurring on or prior to the Asset Closing Date which relate to the SMS Business, Purchased Assets or Assumed Liabilities;\n(xiii) all financial and other books and all other documents, microfilm and business records (other than Tax Returns) and correspondence, wherever located, related to the SMS Business, the Purchased Assets or the Assumed Liabilities;\n(xiv) personnel records for each Transferred SMS Employee (subject to the prior consent of such Transferred SMS Employee to the extent such consent is required by applicable Law in connection with the transfer of such personnel records of such Transferred SMS Employee); and\n(xv) all other assets of the Company and its Subsidiaries that relate to, or are used in the conduct of, the SMS Business, are not Excluded Assets and are not of a category or type described in the foregoing clauses of this Section 2.1(a).\n(b) The Seller Parties and the Purchaser Parties expressly understand and agree that the following assets and all of the goodwill associated therewith (in each case after taking into account the effects of, and assuming the completion of, the Restructuring), as the same shall exist on the Asset Closing Date shall be excluded from the Purchased Assets (the \u201cExcluded Assets\u201d):\n(i) all capital stock or other equity interests in any Person;\n(ii) all rights arising from Excluded Liabilities; and\n(iii) the Maintenance Agreements;\n(iv) all accounts receivable, notes receivable and other rights to payment of the Company or any of its Subsidiaries to the extent related to the Maintenance Business, together with any unpaid interest or fees accrued thereon or other amounts due with respect thereto, and any claim, remedy or other right related to any of the foregoing;\n(v) all deposits to the extent made by the Company or its Subsidiaries to the extent related to the Maintenance Business, and any claim, remedy or other right related to any of the foregoing, in each case to the extent associated with the Maintenance Business;\n(vi) all prepaid assets paid by the Company or its Subsidiaries to the extent in related to the Maintenance Business, and any claim, remedy or other right related to any of the foregoing, in each case to the extent associated with the Maintenance Business;\n(vii) all causes of action, claims, demands, rights (including rights under or pursuant to warranties, representations and guarantees made by suppliers, manufacturers or contractors) and privileges against third parties, whether liquidated or unliquidated, fixed or contingent, \u2587\u2587\u2587\u2587\u2587\u2587 or inchoate that relate to events or breaches occurring on or prior to the Asset Closing Date which relate to the Maintenance Agreements;\n(viii) all other assets of the Company and its Subsidiaries that relate exclusively to, or are used exclusively in the conduct of, the Maintenance Business; and\n(ix) any assets that are excluded from the Purchased Assets pursuant to Section 3.1(c).", "size": 4, "hash": "4325248d754c77d27827202224d696df", "id": 8}, {"snippet_links": [{"key": "transactions-contemplated", "type": "clause", "offset": [19, 44]}, {"key": "the-asset-purchase-agreement", "type": "clause", "offset": [48, 76]}], "samples": [{"hash": "fdTppRGq82m", "uri": "/contracts/fdTppRGq82m#asset-purchase", "label": "Stock Purchase Agreement (J C Penney Co Inc)", "score": 21.0, "published": true}, {"hash": "b07wxNYhtM3", "uri": "/contracts/b07wxNYhtM3#asset-purchase", "label": "Stock Purchase Agreement (Brooks Pharmacy, Inc.)", "score": 18.0, "published": true}], "snippet": "The closing of the transactions contemplated by the Asset Purchase Agreement shall have occurred.", "size": 4, "hash": "60f20a618efdda4f043755d8f0141e29", "id": 9}], "next_curs": "ClcSUWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjMLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ihdhc3NldC1wdXJjaGFzZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"title": "Asset Purchase", "children": [["excluded-assets", "Excluded Assets"], ["purchase-price", "Purchase Price"], ["assumed-liabilities", "Assumed Liabilities"], ["excluded-liabilities", "Excluded Liabilities"], ["the-closing", "The Closing"]], "parents": [["asset-purchase", "Asset Purchase"], ["sale-of-assets-and-assumption-of-liabilities", "Sale of Assets and Assumption of Liabilities"], ["purchase-and-sale", "Purchase and Sale"], ["miscellaneous", "Miscellaneous"], ["purchase-and-sale-of-assets", "Purchase and Sale of Assets"]], "size": 286, "id": "asset-purchase", "related": [["asset-purchase-price", "Asset Purchase Price", "<strong>Asset Purchase</strong> Price"], ["asset-purchase-agreement", "Asset Purchase Agreement", "<strong>Asset Purchase</strong> Agreement"], ["sale-purchase", "Sale Purchase", "Sale Purchase"], ["purchase-and-sale-purchase-price", "Purchase and Sale; Purchase Price", "Purchase and Sale; Purchase Price"], ["sale-and-purchase", "Sale and Purchase", "Sale and Purchase"]], "related_snippets": [], "updated": "2026-04-15T04:23:14+00:00", "also_ask": ["What are the most negotiable terms in a standard asset purchase clause?", "Which representations and warranties are essential to include for buyer protection?", "What are the most common pitfalls that could render an asset purchase unenforceable?", "How does this asset purchase clause differ from a share purchase in terms of risk allocation?", "What factors most influence a court\u2019s interpretation of asset identification and transfer provisions?"], "drafting_tip": "Specify the assets included and excluded to avoid ambiguity; define the transfer process to ensure enforceability; state payment terms clearly to prevent disputes.", "explanation": "An Asset Purchase clause defines the terms under which specific assets of a business are sold from one party to another, rather than the sale of the entire company or its shares. This clause typically outlines which assets are included or excluded from the transaction, such as equipment, inventory, intellectual property, or contracts, and may also address the transfer of related liabilities. Its core practical function is to clearly delineate what is being transferred in the sale, thereby reducing ambiguity and ensuring both parties understand their rights and obligations regarding the assets involved."}, "json": true, "cursor": ""}}