Common use of Bulk Sale Notices Clause in Contracts

Bulk Sale Notices. Buyer and Seller shall give notice, in compliance ----------------- with California Business and Professions Code Section 24073, of the intended transfer of the ABC License. Buyer and Seller instruct Escrow Holder (i) to cause the notice to state that "the sale of seller's assets to buyer is not subject to Division 6 of the California Uniform Commercial Code, including Section 6106.2 of the California Uniform Commercial Code," (ii) to record and publish the notice, and (iii) in accordance with California Business and Professions Code Section 24074, to distribute the Purchase Price to Seller's bona fide creditors who file claims with Escrow Holder before Escrow Holder receives notice from the ABC of its approval of the transfer of the ABC License. Upon Escrow Holder's request, Buyer and Seller shall provide Escrow Holder with the information necessary to prepare the notice. Seller represents and warrants to Buyer that the sale under this Agreement is not a bulk sale as contemplated by Division 6 of the California Uniform Commercial Code. Based on that representation and warranty, Buyer instructs Escrow Holder not to give notice under Division 6.

Bulk Sale Notices. Buyer and Seller shall give notice, in ----------------- compliance ----------------- with California Business and Professions Code Section 24073, of the intended transfer of the ABC License. Buyer and Seller instruct Escrow Holder (i) to cause the notice to state that "the sale of seller's assets to buyer is not subject to Division 6 of the California Uniform Commercial Code, including Section 6106.2 of the California Uniform Commercial Code," (ii) to record and publish the notice, and (iii) in accordance with California Business and Professions Code Section 24074, to distribute the Purchase Price to Seller's bona fide creditors who file claims with Escrow Holder before Escrow Holder receives notice from the ABC of its approval of the transfer of the ABC License. Upon Escrow Holder's request, Buyer and Seller shall provide Escrow Holder with the information necessary to prepare the notice. Seller represents and warrants to Buyer that the sale under this Agreement is not a bulk sale as contemplated by Division 6 of the California Uniform Commercial Code. Based on that representation and warranty, Buyer instructs Escrow Holder not to give notice under Division 6.