Contracts, Records. (a) CONTRACTS AND RESIDENCY AGREEMENTS. Purchaser shall not be obligated to assume any leases or executory contracts of Alterra except to the extent specifically set forth herein: (i) The parties acknowledge and agree that prior to Closing, Alterra has provided Purchaser with copies of all current service contracts with third party vendors related to the Properties (collectively, the "Operating Contracts") and the Alterra Entities acknowledge that none of the Operating Contracts were in the name of Seller. The parties further acknowledge that prior to Closing, Purchaser has provided Alterra with written notice of any Operating Contracts it wanted Alterra to terminate, and Alterra has provided notice to the appropriate vendors to terminate such contracts effective upon Closing or the Licensure Date, as applicable, or as soon as possible after Closing or the Licensure Date, as applicable. Alterra and Purchaser acknowledge and agree that in the event any of the Operating Contracts have been terminated at the direction of Purchaser but such termination will not be effective until after the Closing Date or the Licensure Date, as applicable, as a result of the notice provisions set forth in such Operating Contracts (the "Termination Date"), if and to the extent Purchaser derives any benefit from the goods or services provided under such Operating Contracts between the Closing Date or the Licensure Date, as applicable, and the Termination Date, Purchaser shall reimburse Alterra as part of the reconciliation process for any payments under such Operating Contracts made between the Closing Date or the Licensure Date, as applicable, and the Termination Date.
Contracts, Records. At the Closing, the Sellers will deliver to the Purchaser all contracts, commitments, and rights of the Company which are part of the Assets and listed on Exhibit 1(a), with assignment thereof, to assure the Purchaser of the full benefit of such contracts, leases, commitments and rights. All consents, except those from landlords of real property leases, shall be obtained by Sellers post closing. At the Closing, the Sellers shall deliver to the Purchaser all records and other data relating to the inventory and fixed assets acquired. Simultaneously with such delivery, the Sellers shall take all such steps as may be reasonably required to put the Purchaser in actual possession and control of the Assets. Sellers shall retain a right of access to and right to make copies of all such records, during normal business hours, upon reasonable notice to Purchaser.
Contracts, Records. At the Closing, the Seller will deliver to the Purchaser a copy of the Compass Bank Note Agreement of the Seller to be assumed by the Purchaser. It is understood that the Seller has delivered to the Purchaser all books, records and other data relating to the Assets and the Assumed Liabilities. Seller agrees to take all such additional steps as may be required to put the Purchaser in full possession and control of the tangible and intangible Assets.
Contracts, Records. At the Closing, the Sellers will deliver to the Purchaser all contracts, commitments, and rights of the Company which are part of the Assets, with assignment thereof, to assure the Purchaser of the full benefit of such contracts, leases, commitments and rights. All consents, except those from landlords of real property leases, shall be obtained by Sellers post closing. All material contracts are listed on Exhibit 1(e). At the Closing, the Sellers shall deliver to the Purchaser all records and other data relating to the inventory and fixed assets acquired. Simultaneously with such delivery, the Sellers shall take all such steps as may be reasonably required to put the Purchaser in actual possession and control of the Assets.
