Common use of Business Transfer Time Clause in Contracts

Business Transfer Time. Subject to the satisfaction and waiver of the conditions set forth in Article V, the effective time and date of each Conveyance and assumption of any Asset or Liability in accordance with Article I in connection with the Fuels Transfer will be on or before, yet effective in any event for all purposes as of 12:01 a.m., Eastern Time, on the anticipated Distribution Date (such time, the “Business Transfer Time,” and such date the “Business Transfer Date”).

Appears in 3 contracts

Samples: Separation Agreement (Taronis Fuels, Inc.), Separation Agreement (Taronis Fuels, Inc.), Separation Agreement (Taronis Fuels, Inc.)

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Business Transfer Time. Subject to the satisfaction and waiver of the conditions set forth in Article V, the effective time and date of each Conveyance and assumption of any Asset or Liability in accordance with Article I in connection with the Fuels Automotive Transfer will be on or before, yet effective in any event for all purposes as of 12:01 a.m., Eastern Time, on the anticipated Distribution Date (such time, the “Business Transfer Time,” and such date the “Business Transfer Date”).

Appears in 1 contract

Samples: Separation Agreement (Net Element, Inc.)

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