Assets Subject to Sale Orders Sample Clauses

Assets Subject to Sale Orders. (i) Those certain orders (the “Sale Orders”), each dated and entered on April 9, 2010 by the Xxxxxxxxx Xxxxxxx X. Ferguson, United States Bankruptcy Judge of the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”), in the case entitled In re Xxxxxxx Xxxx, et al, Lead Case No.: 07-11757 (KFC), pertaining to the sale of the properties located at 201 and 000 Xxxxxxx 00 (Block 265, Lots 152-157 and 130-134), Neptune Township, Monmouth County, New Jersey and 0000 Xxxxxxx Xxxxxx 1/2 (Block 212, Lot 3) and 0000 Xxxxxxx Xxxxxx (Block 212, Lot 2), Neptune Township, Monmouth County, New Jersey (together, the “Properties”) have not been appealed, vacated, modified, or stayed and are final non-appealable orders as of the date hereof. (ii) The sales of the Properties were properly conducted in accordance with (A) the Order Granting Motion and the Bidding Procedures Order as those terms are defined in the Sale Orders and (B) all other orders entered by the Bankruptcy Court with respect thereto. (iii) Notice of the sales of the Properties and any hearings with respect thereto was properly provided to all parties-in-interest entitled to receive such notice, including but not limited to any such parties asserting liens, claims, encumbrances, or interests of any kind or nature whatsoever against the Properties. (iv) Seller Intervest National Bank, as the Credit Bidder as that term is defined in the Sale Orders, was not required to, and did not, execute a Real Estate Agreement of Sale, or any other such agreement of sale, to effectuate the sale of the Properties pursuant to the Sale Orders. (v) Seller Intervest National Bank has the authority to assign its rights as Credit Bidder under the Sale Orders to the Buyer. (vi) All obligations of the Credit Bidder to the Bankruptcy trustee with respect to the Properties after entry of the Sale Order through Closing as that term is defined in the Sale Orders are contained within the Sale Orders themselves and that there are no other agreements, whether oral or written, imposing any further obligations on the Credit Bidder with respect thereto.
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