Assignment Transaction. Subject to the terms and conditions of this Contract:
Assignment Transaction. The Assignment Transaction shall have been consummated.[Reserved].
Assignment Transaction. Concurrently with or immediately prior to the Closing, (i) Banjo shall assign to WNPAU Pty Ltd all of the capital stock of Banjo & Matilda (USA), Inc. and its Australian subsidiary (Banjo & Matilda Australia Pty LTD), which will transfer the intangible assets and associated liabilities set forth on Schedule 4.04(a), pursuant to an agreement mutually agreeable to the parties; and (ii) the liabilities detailed on Schedule 4.04(b) will be converted into Banjo equity, pursuant to agreements mutually agreeable to the parties. After giving effect to these two transactions, Banjo will have assets worth not less than $25,000 and liabilities not more than $10,000.
