Assumption of Outsourcing Agreement Sample Clauses

Assumption of Outsourcing Agreement. The Parties agree that, upon the Effective Date, the IBC Entities will be deemed to have assumed the Outsourcing Agreement, as amended by the Amendments, in accordance with the provisions of section 365 of the Bankruptcy Code. The Accenture Entities shall have no Claim for cure payments in connection with the assumption of the Outsourcing Agreement pursuant to section 365 of the Bankruptcy Code or otherwise, except for the Allowed Accenture Claim, any Supplemental Cost Claim and any Allowed Administrative Expense Claim due and payable to Accenture under the Outsourcing Agreement or this Restructuring Agreement (the “Accenture Claims”), which Claims shall be treated as set forth in this Restructuring Agreement and in the Assumed Agreements. The IBC Entities shall be jointly and severally liable for the Accenture Claims or any other Claims legally due and payable to the Accenture Entities by the IBC Entities, provided however the Accenture Entities shall be granted a single allowed claim in the Interstate Brands' case upon which distributions shall be made on the Allowed Accenture Claim. Subject to the modifications described in the Amendments and this Restructuring Agreement, the IBC Entities agree that, on the Effective Date, (a) the Assumed Agreements shall be in full force and effect, and (b) the IBC Entities shall have all necessary power and authority to continue to perform under the Assumed Agreements pursuant to the Approval Order.
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Related to Assumption of Outsourcing Agreement

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