ASSETS AT RISK. 16.1 From the date hereof to the Closing Date, the Business Assets will remain at the risk of the Vendor. If any of the Business Assets are lost, damaged, or destroyed prior to the time of Closing, the Purchaser may in lieu of terminating this Agreement pursuant to Clause 12.1 elect by notice in writing to the Vendor to complete the purchase to the extent possible, and at the option of the Purchaser, either: (a) the Purchase Price will be reduced by an amount equal to the cost of making good such loss, damage, or destruction; or (b) the Vendor will assign and pay over to the Purchaser all insurance moneys payable in respect of such loss, damage, or destruction.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Ocean Ventures Inc), Asset Purchase Agreement (Virtualsellers Com Inc)
ASSETS AT RISK. 16.1 17.1 From the date hereof of this Agreement to the Closing DateClosing, the Business Assets will remain at the risk of the Vendor. If any of the Business Assets are lost, damaged, or destroyed prior to before the time of Closing, the Purchaser may in lieu of terminating this Agreement pursuant to Clause 12.1 Section 13.1 elect by notice in writing to the Vendor to complete the purchase purchaser to the extent possible, and at the option of the Purchaser, either:
(a) the Purchase Purchaser Price will be reduced by an amount equal to the cost of making good such loss, damage, or destruction; or
(b) the Vendor will assign and pay over to the Purchaser all insurance moneys payable in respect of such loss, damage, damage or destruction.
Appears in 1 contract
Samples: Asset Purchase Agreement (Rx Technology Holdings Inc)
ASSETS AT RISK. 16.1 18.1 From the date hereof to the Closing Date, the Business Assets will remain at the risk of the Vendor. If any of the Business Assets are lost, damaged, or destroyed prior to the time of Closing, the Purchaser may in lieu of terminating this Agreement pursuant to Clause 12.1 13.1 elect by notice in writing to the Vendor to complete the purchase to the extent possible, and at the option of the Purchaser, either:
(a) : the Purchase Price will be reduced by an amount equal to the cost of making good such loss, damage, or destruction; or
(b) or the Vendor will assign and pay over to the Purchaser all insurance moneys monies payable in respect of such loss, damage, or destruction.
Appears in 1 contract
ASSETS AT RISK. 16.1 18.1 From the date hereof to the Closing Date, the Business Assets will remain at the risk of the Vendor. If any of the Business Assets are lost, damaged, or destroyed prior to the time of Closing, the Purchaser may in lieu of terminating this Agreement pursuant to Clause 12.1 elect by notice in writing to the Vendor to complete the purchase to the extent possible, and at the option of the Purchaser, either:
(a) the Purchase Price will be reduced by an amount equal to the cost of making good such lossLoss, damage, or destruction; or
(b) the Vendor will assign and pay over to the Purchaser all insurance moneys payable in respect of such lossLoss, damage, or destruction.
Appears in 1 contract
Samples: Asset Purchase Agreement (Spectrum Signal Processing Inc)
ASSETS AT RISK. 16.1 From the date hereof to the Closing Date, the Business Assets will remain at the risk of the Vendor. If any of the Business Assets are lost, damaged, or destroyed prior to the time of Closing, the Purchaser may in lieu of terminating this Agreement pursuant to Clause 12.1 elect by notice in writing to the Vendor to complete the purchase to the extent possible, and at the option of the Purchaser, either:
(a) the Purchase Price will be reduced by an amount equal to the cost of making good such loss, damage, or destruction; or
(b) the Vendor will assign and pay over to the Purchaser all insurance moneys payable in respect of such loss, damage, or destruction.. CW969086.3
Appears in 1 contract
Samples: Asset Purchase Agreement (Glass Wave Enterprises, Inc.)
