Common use of Compensation for Wrong Pockets Transfers Clause in Contracts

Compensation for Wrong Pockets Transfers. Following the transfer of any property, right or asset pursuant to this Clause 25 (Wrong Pockets) from any entity that is not party to a Local Separation Agreement, or where otherwise required under Applicable Law, Novartis (in respect of any property, right or asset transferred by any member of the Novartis Group) or Alcon (in respect of any property, right or asset transferred by any member of the Alcon Group) shall compensate the relevant member of its Group for the fair market value of such property, right or asset.

Compensation for Wrong Pockets Transfers. Following If the transfer of any property, right or asset pursuant to this Clause 25 20 (Wrong Pockets) from any entity that is not party to (a Correction Transfer) requires a Local Separation Agreement, or where otherwise required under Applicable Law, Novartis (in respect Agreement and the payment of any an amount equal to the fair market value of the relevant property, right or asset transferred by any between the relevant member of the Novartis Group) or Alcon (in respect of any property, right or asset transferred by any member of the Alcon Group) shall compensate Group and the relevant member of its the Sandoz Group for the fair market value of such property, right or asset.(a Correction Transfer Local Payment):