Common use of Assignability of Certain Contracts Clause in Contracts

Assignability of Certain Contracts. To the extent that the assignment to Purchaser of any Assigned Contract pursuant to this Agreement is not permitted without the consent of a third party and such restriction cannot be effectively overridden or canceled by the Sale Order or other related order of the Bankruptcy Court, then this Agreement will not be deemed to constitute an assignment of or an undertaking or attempt to assign such Contract or any right or interest therein unless and until such consent is obtained; provided, however, that the Parties will use their commercially reasonable efforts, before the Closing, to obtain all such consents; provided, further, that if any such consents are not obtained prior to the Closing Date, Sellers and Purchaser will reasonably cooperate with each other in any lawful and feasible arrangement designed to provide Purchaser with the benefits and obligations of any such Contract and Purchaser shall be responsible for performing all obligations under such Contract required to be performed by Sellers on or after the Closing Date to the extent set forth in this Agreement.

Appears in 4 contracts

Samples: Asset Purchase Agreement (Paperweight Development Corp), Asset Purchase Agreement (Green Plains Inc.), Asset Purchase Agreement (Green Plains Inc.)

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Assignability of Certain Contracts. To the extent that the assignment to the Purchaser of any Assigned Contract pursuant to this Agreement is not permitted without the consent of a third party and such restriction cannot be effectively overridden or canceled by the Sale Order or other related order of the Bankruptcy Court, then this Agreement will not be deemed to constitute an assignment of or an undertaking or attempt to assign such Contract or any right or interest therein unless and until such consent is obtained; provided, however, that the Parties will use their commercially reasonable efforts, before the Closing, to obtain all such consents; provided, further, that if any such consents are not obtained prior to the Closing Date, Sellers and the Purchaser will reasonably cooperate with each other in any lawful and feasible arrangement designed to provide the Purchaser with the benefits and obligations of any such Contract and the Purchaser shall be responsible for performing all obligations under such Contract required to be performed by Sellers on or after the Closing Date to the extent set forth in this Agreement.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Sigma Designs Inc), Asset Purchase Agreement (Sigma Designs Inc)

Assignability of Certain Contracts. To the extent that the assignment to Purchaser Buyer of any Assigned Contract pursuant to this Agreement is not permitted (or if Buyer’s rights under such Assigned Contract would be impaired) without the consent of a third party non-Seller counterparty and such restriction cannot be overridden effectively overridden or canceled by the Sale Order or other related order of the Bankruptcy Court, then this Agreement will not be deemed to constitute an assignment of or an undertaking or attempt to assign such Contract or any right or interest therein unless and until such consent is obtained; provided, however, that the Parties will use their commercially reasonable efforts, before the Closing, to obtain all such consents; provided. Sellers, further, that if any such consents are not obtained prior to the maximum extent permitted by Law and the applicable Contract, shall act after the Closing Dateas Buyer’s agent in order to obtain for it the benefits thereunder and shall cooperate, Sellers to the maximum extent permitted by Law and Purchaser will reasonably cooperate the applicable Contract, with each other Buyer in any lawful and feasible other reasonable arrangement designed to provide Purchaser with the benefits and obligations of any such Contract and Purchaser shall be responsible for performing all obligations under such Contract required thereunder to be performed by Sellers on or after the Closing Date to the extent set forth in this AgreementBuyer.

Appears in 1 contract

Samples: Asset Purchase Agreement

Assignability of Certain Contracts. To the extent that the assignment to Purchaser of any Assigned Contract pursuant to this Agreement is not permitted without the consent of a third party and such restriction cannot be effectively overridden or canceled by the Sale Order or other related order of the Bankruptcy Court, then this Agreement will not be deemed to constitute an assignment of or an undertaking or attempt to assign such Contract or any right or interest therein unless and until such consent is obtained; provided, however, that the Parties will use their commercially reasonable efforts, before the Closing, to obtain all such consents; provided, further, that if any such consents are not obtained prior to the Closing Date, Sellers Seller and Purchaser will reasonably cooperate with each other in any lawful and feasible arrangement designed to provide Purchaser with the benefits and obligations of any such Contract and Purchaser shall be responsible for performing all obligations under such Contract required to be performed by Sellers Seller on or after the Closing Date to the extent set forth in this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Green Plains Inc.)

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Assignability of Certain Contracts. To the extent that the assignment to Purchaser Buyers of any Assigned Seller Contract pursuant to this Agreement is not permitted without the consent of a third party and such restriction cannot be effectively overridden or canceled by the Sale Order or other related order of the Bankruptcy Court, then this Agreement will not be deemed to constitute an assignment of or an undertaking or attempt to assign such Assumed Contract or any right or interest therein unless and until such consent is obtained; provided, however, that the Parties Buyer and Seller will use their commercially reasonable reasonably efforts, before the Closing, to obtain all such consents; provided, further, further that if any such consents are not obtained prior to the Closing Date, Sellers the Seller and Purchaser Buyer will reasonably cooperate with each other in any lawful and feasible arrangement designed to provide Purchaser Buyer (such arrangement to be at the sole cost and expense of Buyer) with the benefits and obligations of any such Seller Contract and Purchaser Buyer shall be responsible for performing all obligations under such Seller Contract required to be performed by Sellers the Seller on or after the Closing Date to the extent unless otherwise set forth in this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (LOCAL.COM)

Assignability of Certain Contracts. To the extent that the assignment to the Purchaser of any Assigned Contract pursuant to this Agreement is not permitted without the consent of a third party and such restriction cannot be effectively overridden or canceled by the Sale Order or other related order of the Bankruptcy Court, then this Agreement will not be deemed to constitute an assignment of or an undertaking or attempt to assign such Contract or any right or interest therein unless and until such consent is obtained; provided, however, that the Parties will use their commercially reasonable efforts, before the Closing, to obtain all such consents; provided, further, that if any such consents are not obtained prior to the Closing Date, Sellers the Seller and the Purchaser will reasonably cooperate with each other in any lawful and commercially feasible arrangement designed to provide the Purchaser with the benefits and obligations of any such Contract and the Purchaser shall be responsible for performing all obligations under such Contract required to be performed by Sellers the Seller on or after the Closing Date to the extent set forth in this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Energizer Holdings Inc)

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